Examlex
Red Express Pty Ltd is based in Darwin, Australia, and serves as a customs agent and freight forwarder for various shipments being exported to various points overseas, mostly in Southeast Asia. Occasionally some packages destined for foreign points come through Red Express' office that are simply too small to involve a written contract. Out of a concern for its reputation for good service Red Express forwards them on and waits for payment. Inevitably there are a few people who try to make life difficult for Red Express, refusing to pay and waiting for the company to launch suit against them in the Australian courts. They could successfully assert that because there was no written contract between the parties, and in particular no choice of law or jurisdiction clause, the Australian courts cannot hear the dispute.
Basic Solver
An optimization algorithm tool used in mathematical programming and operations research to find an optimal solution by varying multiple inputs within given constraints.
Solving Method
A systematic approach or strategy used to find solutions to problems, often involving mathematical or logical operations.
Binding Constraint
A limitation or restriction in a mathematical problem, such as linear programming, that dictates the feasible region and directly influences the optimal solution.
Solver Reports
These are detailed outputs provided by solver tools in optimization and simulation, offering insights into the solution, constraints, and objective function.
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