Acme Corp Is a Widget Manufacturer That Carries on Business

question 59

Essay

Acme Corp is a widget manufacturer that carries on business in Edmonton.Until recently, it sold its products only within the province of Alberta.However, it now wants to sell to customers in Manitoba as well.It is concerned, however, about the effect of the Alberta Contracts Enforcement Act.That statute says that only specially licenced companies are entitled to sell widgets under "contracts that are made within the province of Alberta." Acme Corp is not specially licenced.The statute does not, however, affect contracts that are created outside of Alberta.Bearing in mind the general rules regarding offers and acceptances, suggest ways in which Acme Corp can go ahead with its proposal without violating the Contracts Enforcement Act.

Distinguish between the types of markets for trading securities and their characteristics.

Understand the structure and functions of various stock exchanges.

Recognize the advantages and disadvantages of different forms of business ownership.

Identify the roles and responsibilities within the corporate organizational structure.

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Definitions:

Merchant

An individual or business entity engaged in the buying and selling of goods, especially with regards to the provisions of the Uniform Commercial Code (UCC) which define specific responsibilities and protections for merchants.

Memorandum

A written record or communication used in business or diplomatic contexts to outline agreements, policies, or other relevant information.

Parol Evidence Rule

A legal principle in contract law that prevents parties from presenting evidence of prior or contemporaneous agreements that contradict the written terms of a contractual agreement.

Partially Integrated Contract

A written contract that represents some, but not all, of the terms agreed upon by the parties.