Contract management and contract law Essay Example | Topics and Well Written Essays - 3250 words

Contract management and contract law - Essay Example In a capitalist world, the law of contract essentially forms a major portion of the society we live in. It is the realm of deliberate agreement and collaboration, to be more specific, contract deals with the activities like exchange and bargain. The purpose of the act of Contracts is to create possibilities, or to assist this action. It helps two or more parties in the function of arranging for the future plans by shielding the anticipations that take place from the process of bargaining. In the process of forming a contract the parties require a lawfulstructure which will provide them with a conventional, consistent, steadyfoundation for theconcealedcategorization of their affairs. Agreements between two or more parties turn into a contract with the intervention of law. A legal contract comprises of five essential elements without which the contract is referred to as invalid. In the following sections we will discuss the various scenarios related to the benefit of the procuring part y as well as we will discuss about the Sale of Goods Act, INCOTERMS and the transfer of risk to the supplier from the viewpoint of the UK Contract Act. Answer 1 The procurement process in my organization must make sure that the five vital tenets of contract are met while entering into a contract with other parties. The five tenets of contract are- 1. Offer- Offer and acceptance are the essential elements of a contract. Before going in depth of the definition of offer and acceptance, let us first recognize the parties involved in the framework of offer and acceptance. ... The five tenets of contract are- 1. Offer- Offer and acceptance are the essential elements of a contract. Before going in depth of the definition of offer and acceptance, let us first recognize the parties involved in the framework of offer and acceptance. The structure of offer and acceptance involves an offeror who puts forth the offer and an offeree, to whom the offer has been made by the offeror. Thus now we can look at the definition of the offer and acceptance framework, which states that an offer is a statement or proposal by an offeror to an offeree with an intention to make lawful relations. An offer cannot be considered simply as an incitement to negotiate or bargain. To make the communication effectual and complete, the offer must be received and accepted by the offeree. In a buying and selling contract, to make an offer legitimate, the following aspects must be clearly defined: Who is the offeror? Who is the offeree? What is the consideration? What is the area under discu ssion of the offer? How many central themes does the offer entail (quantity)? Any communication would be considered as an offer if it signifies the expression on which the person making the offer is ready to create a contract (like setting the price of a product intended to be sold), and provides a clear hint that the offeror wishes to abide by the terms if those are acknowledged by the offeree. Offer can also be made to the general public, for example a marketer offering discount to the people visiting his shop. This kind of offer is generally known as unilateral offer where the offer is addressed to a large number of people and their actions indicate their acceptance of the

Athens Olympic stadium Case Study Example | Topics and Well Written Essays - 1250 words

Athens Olympic stadium - Case Study Example The immense size of the project and its particular technical complexity were the causes for long delays; the work was finally completed in time and the new captivating stadium was officially reopened on July 30, 2004 (O.A.K.A. 2005). The Athens Olympic stadium roof in the form of a double bowstring tied arch of 80 m high is considered one of the most ingenious modern architectural and engineering projects. This impressive construction of steel and glass is today one of the city's landmarks. Along with its spectacular and pioneering architectural design, the suspended arched roof construction and erection has been a challenge to engineers and an excellent example of integration of construction engineering and hydraulic expertise (Siriani & Di Silverio 2006). The roof structure is in two halves, each comprising a top arch of a diameter of 3.25 m and a lower torsion tube of a diameter of 3.6 m extending for 304 m over the stadium. The wall thicknesses of the tubes are up to 95 mm. All four tubes merge at their ends and are based on four support steel shoes (19 m x 4 m x 4 m) made from 100 mm thick steel plates. The tubes support wire cables that hold polycarbonate panels of a weigh of 17,000 ton in total. 220 girders cantilever out of the torsion tube supporting the panels, thus forming the roof deck. Finally, the panels are covered by a special coating to reflect 60% of the sunlight. Apart from providing shadow, protecting athletes and spectators against the hot Greek summer sun, the roof served as a carrier for telecommunications and security systems during the Games (Siriani & Di Silverio 2006). The layout of Calatrava's roof can be seen in figure 1. Fig.1. The Athens Olympic stadium layout and dimensions of the roof (redrawn from Siriani & Di Silverio 2006). The roof construction project was contracted to the Italian Costruzioni Cimolai Armando Spa of Pordenone. In detail, the stages of the building process were segment fabrication and pre-assembly, segment shipping to construction site, on-site assembly and erection of the two halves of the roof at a distance from the sports arena and finally assembly pulling (sliding) into position. With the exception of the sliding step that was sub-contracted, all remaining stages were undertaken by Cimolai (Siriani & Di Silverio 2006). A number of difficulties arose during the renovations works that were mainly linked to the immense character of the project and the shortage of available time; these issues required technically advanced, ingenious solutions. All steel fabrication works took place at Cimolai's site in Italy, using a 6000 ton press, one of the largest in Europe. The support shoes and pre-assembled tube segments of up to 15 m in length equipped with cable anchorages, diaphragms and girder connections were constructed there and were subsequently shipped by sea to Athens. Shipping has been a gigantic operation due to the excessive size of the segments of the roof (Siriani & Di Silverio 2006). A second particularity of the project was that roof assembly and erection could not take place at its final position, so as to allow other renovation work in the stadium to proceed during the assembly process. Thus each of the arch structures was put together separately on each side of the concrete stadium, at 70 m far from either side. Roof