Breaches of Contract

Examples of Breaches of Contract in the following topics:

• Crime

  • Crime is the breach of rules or laws for which some governing authority can ultimately prescribe a conviction.
  • Crime is the breach of rules or laws for which some governing authority can ultimately prescribe a conviction.
  • While every crime violates the law, not every violation of the law counts as a crime; for example, breaches of contract and of other civil law may rank as "offenses" or as "infractions. " Modern societies generally regard crimes as offenses against the public or the state, as distinguished from torts, which are wrongs against private parties that can give rise to a civil cause of action.
  • Similarly, changes in the collection and calculation of data on crime may affect the public perceptions of the extent of any given "crime problem."
  • Criminology is the scientific study of the nature, extent, causes, and control of criminal behavior in both the individual and in society.

• Loss Contingencies

  • A footnote can also be included to describe the nature and intent of the loss.
  • At least a minimum amount of the loss expected to be incurred is accrued.
  • A jury awarded $5.2 million to a former employee of the Company for an alleged breach of contract and wrongful termination of employment.
  • The Company has appealed the judgment on the basis of errors in the judge's instructions to the jury and insufficiency of evidence to support the amount of the jury's award.
  • The resolution of the appeal of the jury award could have a significant effect on the Company's earnings in the year that a determination is made.

• Secured vs. Unsecured Funding

  • A loan is a monetary form of debt.
  • A loan is considered a contract between the lender and the borrower.
  • An unsecured lender must sue the borrower, obtain a money judgment for breach of contract, and then pursue execution of the judgment against the borrower's unencumbered assets (that is, the ones not already pledged to secured lenders).
  • Typically, the balance of the loan is distributed evenly across a fixed number of payments; penalties may be assessed if the loan is paid off early.
  • In the event of the bankruptcy of the borrower, the unsecured creditors will have a general claim on the assets of the borrower after the specific pledged assets have been assigned to the secured creditors, although the unsecured creditors will usually realize a smaller proportion of their claims than the secured creditors.

• Case: China establishes a new employment contract law for 2008

  • On June 29, 2007 at the 28th session of the standing committee of the 10th National People's Congress, a new employment contract law was adopted which took take effect on 1 Jauary 2008.
  • This law requires all employers to enter into contracts with their employees within 30 days of full-time employment and sets out guidelines for their implementation.
  • An employment contract is not delivered to an employee or lacks any of the mandatory clauses which the law requires.
  • Employees that terminate a contract in violation of the Law or breach any confidentiality obligations or competition restrictions stipulated in the contract can be held liable for damages sustained by the other party.
  • How can the establishment of China's new employment contract benefit other countries that are looking to institute a new law like this one?

• Collective Bargaining

  • At a workplace where a majority of workers have voted for union representation, a committee of employees and union representatives negotiate a contract with the management regarding wages, hours, benefits, and other terms and conditions of employment, such as protection from termination of employment without just cause.
  • If approved, the contract is usually in force for a fixed term of years, and when that term is up, it is renegotiated between employees and management.
  • Sometimes there are disputes over the union contract; this often occurs in cases of workers being fired without just cause in a union workplace.
  • A neutral arbitrator makes a ruling as to whether the termination was unjust and whether other contract breaches occurred.
  • If so, the arbitrator will order that the breach be corrected or remedied in some way.

• Moral Principles in Management

  • Ethics, also known as moral philosophy, is a branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct.
  • When individuals take action on behalf of an organization, they represent its ethics to society.
  • Some companies require that employees sign a contract stating that they will follow the procedures within the handbook.
  • This person ensures their organization has statements of ethical principals, clear guideline about acceptable and unacceptable practices, and means of reporting ethical breaches.
  • These executives also have the specific responsibility of monitoring ethical behavior and addressing breaches.

• Types of Muscle Contractions: Isotonic and Isometric

  • Muscle contractions are defined by changes in the length of the muscle during contraction.
  • Several types of muscle contractions occur and are defined by the changes in the length of the muscle during contraction.
  • A concentric contraction is a type of muscle contraction in which the muscles shorten while generating force, overcoming resistance.
  • For example, a voluntary eccentric contraction would be the controlled lowering of the heavy weight raised during the above concentric contraction.
  • In contrast to isotonic contractions, isometric contractions generate force without changing the length of the muscle, common in the muscles of the hand and forearm responsible for grip.

• Interactions of Skeletal Muscles

  • Skeletal muscle contractions can be grouped based on the length and frequency of contraction.
  • The time between the stimulus and the initiation of contraction is termed the latent period, which is followed by the contraction period.
  • Action potentials do not arrive at muscles synchronously, and, during a contraction, only a certain percentage of the fibers in the muscle will be contracting at any given time.
  • After contraction the muscle relaxes back to a resting level of tension.
  • If the frequency of these contractions increases to the point where maximum tension is generated and no relaxation is observed then the contraction is termed a tetanus.

• Civil Law and Criminal Law

  • The law relating to civil wrongs and quasi-contract is part of civil law.
  • The objectives of civil law are different from other types of law.
  • Simpson was ordered to pay damages for wrongful death after being acquitted of the criminal charge of murder.
  • Criminal law involves the prosecution by the state of wrongful acts, which are considered to be so serious that they are a breach of the sovereign's peace (and cannot be deterred or remedied by mere lawsuits between private parties).
  • The law of most of the states is based on the common law of England; the notable exception is Louisiana.

• Futures and Forward Contracts

  • First class of derivatives is futures and forward contracts.
  • Derivatives market determines the price of the futures contract.
  • Contract size is 10,000 barrels of petroleum with a contract price of $75 per barrel.
  • A futures contract could be for Certificates of Deposit (CDs).
  • On the other side of the contract, the bank benefits from this contract.