Introduction Business Law Case Study Example | Topics and Well Written Essays - 500 words - 1

Introduction Business Law - Case Study Example Bahrain Consult is obliged to deliver the stated goods to Gulf Retailers premises and the person delivering the goods must confirm the receipt of purchase with the buyer. The contract provides an offer to buy or sell the goods fpor the acceptable price in relation to the offer given according to FOB terms. Bahrain Consult agreed to deliver the stated goods to Gulf Retailers according to the given specifications. Gulf retailers ordered for 300 tons of alluminium at a price of 500 Bahraini per ton. According to article 31 of the business contract law, the supplier is obliged to deliver the goods at the specified place, in the specified quantity and quality and in a timely manner. Article 35 also obliges the Bahrain to deliver the stated goods according to thequantity, quality,a nd other specified describtions. The law only applies if the quantity and time are fixed on the contract. Barhain Consult was bond by the contract that specified the specific goods and the specified quantity to be delivered between 11am and 3pm on Tuesdays. According to article 33, if the CIF contract states that the seller must deliver the goods before payments are made then the seller has no other obtion than to abide by the rule. Gulf Retailers agreed on the contract that Barhrain will recive a deposit of 250 Barhaini Dinars and the balance to be cleared upon arrival of goods. Both parties are bond by the contract and therefore, the buyer is obliged to collect the goods and pay for the balance as per the purchase price agreement. However, article 38 states that the seller has the authority to countercheck the goods with the purchase order before giving out the payments. It was agreed between thew two parties upon the delivery time and day. Article 34 of CIF act provides an obligation for the seller to deliver the goods at the time and place specified in the purchase order. Section II provides an obtion for the third-party to conform the goods and ensure they are delivered

Finance Assignment Example | Topics and Well Written Essays - 1500 words

Finance - Assignment Example This affects the interest rates. An interest rate is at the very basic the cost money. It’s how much you pay to receive money and how much you earn to sell money. Banks basically help determine the interest rate. While each bank may offer different interest rates to customers, the basic rate or the discount rate is determined by the Central Bank (Mathieu, 1995, p. 64). This is the rate at which the central bank lends to all other banks. And the central bank sets this rate by considering factors such as the demand and supply of money, interest rates, exchange rates, balance of payments and the growth rate. The financial sectors set the interest rate which affects the exchange rate of a currency. A high interest rate means that the currency essentially â€Å"costs† more. It also means that if foreign investors put their money in local accounts they will get higher returns. This is known as hot money inflow. As more investors buy the local currency, the currency appreciates. While high interest rates lead to hot money inflows it also means that the country’s exports are now more expensive for foreigners. This means that if previously an American had to pay $1 for PKR 80, now they might have to pay $80/70 since $1 is now equal to PKR 70 and not PKR 80. This means that if previously an item in Pakistan cost PKR 800, the American had to pay $800/80=$10. But now since PKR has appreciated he has to pay $800/70=$11.43. So it costs him more now and depending on the elasticity of demand, he might buy less or not buy at all. So an appreciation of currency is not necessarily a good thing. On the other hand imports become cheaper. E.g. if a barrel of oil cost $100, a Pakistani importer had to pay PKR 100x80=PKR 8000 per barrel. But now he has to pay PKR 100x70= PKR 7000 per barrel. However as imports increase this can create inflationary pressures in the economy and on the balance of payments. If exports are greater than imports, all things held