Australian Contract Law Essay Example | Topics and Well Written Essays - 1500 words

Australian Contract Law - Essay Example However, after informing James, Bert advertised the sale at $ 60,000 or near. Also, the advertisement was made on the notice board of the Historic Speed Boat Club. As a response, there was one more buyer; Alphonse. Bert duly informed the new buyer about the existing right of first refusal and claimed that he would be selling only at $ 60,000 or near. Alphonse inspected the boat and offered $ 60,000 as he came to know that someone has the right of first refusal if the amount is $50,000. Bert rang James and communicated this information and James agreed to buy the boat at the agreed price of $ 50,000. However, Alphonse claims that the speed boat was originally sold before the discussion. In the case AstraZenaca UK Limited v. Albemarle International Corporation and Albemarle Corporation (2011) EWHC 1574 (Comm), (as cited in Howell 2011), the English High Court made certain findings which reduced the ambiguity surrounding the right to first refusal. According to the terms of the rights of first refusal, if one party grants a right of first refusal to another party, the former still has the right to find a third party buyer, and before signing an agreement with the third party, the same terms should be offered to the right holder; and if the right holder accepts the terms, it should be given preference (ibid). In other words, in the given case, the seller has the right to accept any third party offer, but it has the obligation to disclose the full details of the offer to the first refusal right holder and give the chance to match the offer. If the right holder fails to match the new offer from the third party, the seller has the right to sell it to the third party Silverthorne (2006). Here, one can see that Bert had properly informed James about the advertisement for a higher price. Also, he had duly communicated with James about the new offer when Alphonse

The assignment it is a marketing subject and it a research Paper

The assignment it is a marketing subject and it a - Research Paper Example This research study holds importance since promotion is a common tool utilized by all real world companies. Promotion strategy is also a kind of competency which can be acquired by a firm. The importance of this study lies in analyzing wide arrays of theoretical frameworks related to promotion. Research objectives have been stated below- According to Easwaran, marketing can be defined as an approach that enables direct flow of services or products from manufacturers to end customers. It helps to satisfy customer requirements, involved in exchange process. There are wide set of activities included within the approach of marketing. Marketing mix comprises of four basic elements – product, price, place and promotion. Additional elements in marketing mix are physical evidence, process and people. Hence promotion is one of the significant elements of marketing mix. Any service or product always needs the support of effective promotion scheme. Planning is required before promoting brand through advertisement campaigns, leaflet distribution, etc. There are other decisions which are focused on along with planning promotional activities like determining objectives, selecting target group, outlining promotion budget, distribution, new product launch, etc. Promotion is a medium of spreading awareness about a brandâ€⠄¢s offerings. There are three major purpose of promotion – presenting information to target customers, differentiating a product and increasing market demand. Promotional plan is solely responsible for wide array of outcomes such as brand equity building, increase in sales, positioning, and acceptance of new product, corporate image development and competitive retaliations (Easwaran 112). As per Arens, promotion can be stated as a variable to communicate brand message to target audience and eventually change their behavior or attitude. Market share and sales percentage can only be increased when appropriate promotional strategy