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Running head: FINAL PAPER
Acme Fireworks is a fireworks company that has its roots from firework homework in
China. The company specializes in designing, production and, display of fireworks in order. The
company has risen to the top of the table and has dominated the market because of its unique
products which sell at reasonable prices. Acme fireworks like any other business face market and
legal challenges and, therefore, it is important to ensure that it is familiar with all policies that
abide its operations (Anderson, 2008). It is important to determine what risks the company can
be involved in and how they can be avoided. This paper will discuss a variety of key
considerations that can help the company to retain its market shares such as making crucial
decisions like employment opportunities and legal obligations.
The contracts signed by Acme Fireworks and the companies will be governed by
Uniform Commercial Code (UCC). This law cover contracts that are signed by companies that
are not in the same estate. Acme Fireworks is an international company from China that
specializes in fireworks and, therefore, UCC is the most applicable (Teeven, 1998).
Contracts are an essential in doing business. There are five set standards that define a
contract so as to make it valid and legally enforceable by a court of law. A contract is said to be
valid if it meets all the set elements (Anderson, 2008). Most contracts are governed by state laws
unless those involving foreign companies. The following is a check list for the five essentials
elements of a contract and if Acme Fireworks really signed a contract with the said companies.
An offer is a sacrifice that the parties involved in a contract are willing and able to offer
each other in order to get what they need in return (Morawetz, 2015). The exchange should be
legal and the subject matter should be within the law. Acme Fireworks offered to display
fireworks for the said companies which in turn offered to pay an agreed amount for each
firework. This element is satisfied as each party involved has something to offer for the
This is a show of satisfaction and involves each party agreeing to the contract terms.
Acceptance can be verbally or in written form and as it in many cases a hand shake. Both parties
should accept willingly and there should be no conditions or threats (Anderson, 2008). Both
parties must give specific details for the nature of services they need. A contract can be
invalidated if one party plays wise and misleads the other party to enter into an agreement. Acme
Fireworks accepted the offer to do fireworks displays on regula...
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