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The Essential Business Contracts - Assignment Example

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The Essential Business Contracts

This leaves all the rights to the software fully on the contractor’s hands. This includes the patent. ITI Inc., therefore, needs to seek permission from the copyright holder. The product is also military weapons software; the laws on national security thus also bind it.
 A termination for default is when a government has the right to terminate a contract due to a failure of poor performance of contractual terms (Stim, 2010). Termination of convenience involves prices agreed upon in the contract. A termination of convenience is preferred in this case, as it will create a greater platform for discussion.
 Mr. Reliford may protest the termination. However, if the contract does not give him any right to he may only consent for a reinstating. Otherwise, the period he has worked is only moral and not bound by law. Reinstatement will only be done if it is in the best interest of the government.
 Lieutenant Ace Ventura has been called back to active duty. This means that he is still a member of the navy and still works for the United States. If he is to ask for a job, he should notify his current employer of his endeavors or ask his potential employer to withhold his job interest until he has communicated it himself. ...Show more

Summary

The research paper “The Essential Business Contracts” seeks to evaluate the awareness of the laws that govern contracts to prevent fraud and all sought of illegal agreements. Proper scrutiny of contracts ensures fair transactions…
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