Explain the Doctrine of Equity with Reference to Contracts

question 66

Essay

Explain the doctrine of equity with reference to contracts.

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Definitions:

Internal Supply

The availability of existing employees who can be promoted, transferred, or otherwise moved to fill open positions within an organization.

Markov Analysis

A statistical technique that uses probabilities to predict future states in a system based on its current state, often used for decision making and forecasting.

Human Resources Supply

The availability of potential employees, both within and outside the organization, who possess the skills and qualifications to meet its labor needs.

Demand

The desire and ability of purchasers to buy goods and services at different prices.