Statute of Frauds

 

 

Roberta Sacks has been negotiating with Mrs. Samantha Muldoon, the owner of a 7 acre parcel of undeveloped property located on the outskirts of town. Ms. Sacks hopes to create a small equine center, one that can be used for riding lessons, horse boarding, and summer camps.

After several weeks of negotiation, Ms. Sacks and Mrs. Muldoon finally agree on the terms of the purchase and sale of the property, the total cost of which will be $895,000.00. Although the parties have agreed in principle, the written contract, however, is still in the process of being drafted by Mrs. Muldoon’s attorney. And, although the parties have not yet signed any written documents, upon reaching an agreement in principle, Ms. Sacks pays, and Mrs. Muldoon accepts, $250,000.00 to bind the deal.

The following week, also, before receiving any contract documentation, Ms. Sacks hires a contractor who enters upon the land and begins to clear trees from the area that will ultimately house the indoor riding arena. This work continues for two weeks, until one day, Mrs. Muldoon visits Ms. Sacks at home, hands Ms. Sacks the $250,000.00 check, and claims the sale is off.

Explain what the Statute of Frauds is as it relates to written contracts and under what circumstances the Statute of Frauds applies generally.

Against the backdrop of your explanation, does Mrs. Muldoon have the legal right to walk away from the agreement with Ms. Sacks and keep the land that she promised to sell. Why or why not?

 

Sample Solution

Statute of Frauds

The statute of frauds (SOF) is a legal concept that requires certain types of contracts to be executed in writing. The statute covers contracts for the sale of land, agreements involving goods worth over $500, and contracts lasting one year or more. There are significant exceptions, such as oral contracts where work has already started. The statute of frauds was adopted in the U.S. primarily as a common law concept, that is, as unwritten law. However, it has since been formalized by statutes in certain jurisdictions, such as in most states. In a breach of contract case where the statute of fraud applies, the defendant may raise it as a defense. Indeed, they often must do so affirmatively for the defense to be valid. In such a case, the burden of proof is on the plaintiff. The plaintiff must establish that a valid contract was indeed in existence.

 

What Factors Influence Organizational Commitment in a Start-Up

Presentation

Authoritative duty is depicted as the state in which an individual relates to nature and air in which he works in and wants to proceed with his participation with.

In view of Allen and Meyer’s system, we will see three proportions of hierarchical duty. Full of feeling responsibility originates from an enthusiastic connection a worker creates towards the organization through identifying with its qualities. Standardizing responsibility is a consequence of inclination committed to remain with the organization because of moral and good reasons. On the off chance that the individual has money related motivations to remain, it is classified as duration responsibility.

We will take a gander at a little tech startup working in British Columbia, Canada. There hasn’t been much research on authoritative responsibility in new companies and we accept this to be a subject of enthusiasm considering the high development pace of such associations.

There are a couple of basic contrasts between a private venture and a startup. Private companies are progressively organized and stable while new businesses center around top end income and fast development. They plan to upset a particular territory in the market in a brief timeframe and for this they require deftness. These one of a kind attributes call for exceptional examinations researching hierarchical practices inside these new companies and the suggestions, low or high duty may have for them.

New businesses request a high level of efficiency and imagination. They likewise have quick paced situations and require long working hours. These are generally essential reasons they have to concentrate on authoritative responsibility and increment the full of feeling duty among their workers.

The organization we will take a gander at shows a high regard for qualities and positive family and work relations on their site and internet based life and their center tasks and reason for existing is worked around these attributes. Taking a gander at their advancement of network, security, mental and passionate wellbeing, it appears that these qualities are installed in the organization’s way of life.

Writing Review

There are a few examinations acquainting models with measure authoritative responsibility. One of the most well known and predominant papers regarding this matter is composed by Allen and Meyer (1990). This paper not just proposes the build of duty into emotional, standardizing and duration, yet additionally adds to the improvement of solid measures and exhibits responsibility as a negative pointer of turnover. Occupation challenge, job lucidity, objective clearness, objective trouble, the board responsiveness, peer union, hierarchical reliability, value, individual significance, criticism and support are among the proposed precursors of full of feeling responsibility. Abilities, instruction, migration, self-speculation, benefits, network and choices are among the proposed forerunners of duration duty. There are no extraordinary predecessors of regularizing responsibility proposed. (Allen, N., and Meyer, J. 1990).

In another examination, the connection between full of feeling, duration and standardizing duty was estimated through meta-investigations and relationships of their predecessors were analyzed. The outcomes demonstrated that despite the fact that the three types of duty have a connection to each other, they are as yet recognizable. True to form, every one of the three had a negative connection to turnover. Full of feeling turnover demonstrated the most grounded connection to hierarchical results, for example, participation, execution and authoritative citizenship conduct, and the most grounded connection to worker related results, for example, stress and family-work clashes. Standardizing duty indicated powerless connection to these results and continuation responsibility a feeble or negative one (Meyer et al. 2002).

There is an order of the three duties into two classifications. “esteem based responsibility incorporates full of feeling duty and that part of regulating responsibility that reflects commitment to accomplish esteemed results. The second, which is called trade based duty, incorporates continuation responsibility and that part of regularizing duty that mirrors a commitment to meet different desires” (Meyer et al. 2006).

There has been a great deal of research on the forerunners of authoritative responsibility. In one investigation the impacts of representatives’ various leveled separation (the quantity of revealing levels between top administration and the worker) and transformational authority of their immediate administrator on authoritative duty was analyzed. The outcomes demonstrated that various leveled separation was contrarily identified with Affective and Normative Commitment (Hill et al. 2012).

The administrative impression of representative duty was reviewed in a 1995 paper where 231 directors and 339 subordinates were contemplated. The outcomes demonstrated that director evaluated full of feeling duty was anticipated by hierarchical citizenship conduct, while age, residency and instruction anticipated duration responsibility (Shore et al. 1995).

An ongoing report analyzed employment fulfillment, turnover aim and authoritative responsibility in private and open division associations. Authoritative duty was estimated by Meyer and Allen scale. Occupation fulfillment and each of the three kinds of authoritative responsibility were high in the open area. Turnover goal was higher in the private part. Occupation fulfillment anticipated regulating and duration duty in the open part superior to the private segment. By and large, authoritative responsibility was a solid indicator of turnover expectation and there was a negative connection between’s the two (Agarwal and Sajid 2017).

The connection between full of feeling promise to the association and emotional responsibility to the director was considered and their impact on turnover was inspected. The outcomes demonstrated that emotional promise to the association goes before full of feeling duty to the boss. Additionally they found that emotional pledge to the chief interceded a negative connection among turnover and full of feeling duty to the association (Vandenberghe et al. 2017).

In a recent report the effect of regulating, full of feeling and duration duty on characteristic, outward and in general work inspiration was examined. The investigation was led on 150 state college educators and 130 private college instructors. Among the state college educators, natural inspiration was emphatically influenced by and large authoritative duty. For private college instructors this was seen on both outward and generally work inspiration (Ahluwalia and Preet 2017).

The impact of worker strengthening and commitment on hierarchical duty was analyzed openly and private area banks in India. The outcomes demonstrated a huge relationship between’s worker strengthening and hierarchical duty just as representative commitment and authoritative responsibility (Prathiba 2016).

Technique

Members

Members were an example of the organization which included 5 full-time representatives at an innovation fire up in British Columbia. This example speaks to 27% of the workers utilized by the organization at the time. Females contained 20.0% of this example. Members worked in every one of the three offices inside the association: showcasing group (N=2) one of which is likewise in a position of authority, workmanship group (N=2), and advancement group (N=1).

Authoritative Commitment

Authoritative responsibility was estimated utilizing a balanced variant of the Allen and Meyer’s (1990) three sizes of duty. Estimating Affective, Continuance, and Normative Commitment. Allen and Meyer’s 7-point scale was acclimated to a 5-point scale running from 1 (firmly dissent) to 5 (emphatically concur) so as to improve the information examination.

Prescient Factors of Commitment

Alongside the measures for Affective, Continuance, and Normative Commitment, 13 single-thing measures were incorporated to survey the size of representatives frames of mind towards an assortment of association applicable variables that may be prescient of authoritative responsibility. The inquiries estimated: work challenge, the board openness, inspiration, individual significance, migration, options, objective lucidity, authoritative reliability, self speculation, division, and age. The scale used to gauge the extent of representative demeanors was a 5-point scale running from 1 (firmly dissent) to 5 (unequivocally concur). This scale was not utilized for division, age and sexual orientation, where members were approached to show which choice was the best fit.

Socioeconomics

Certain socioeconomics of every member was estimated utilizing a self-report approach. Every member showed their sexual orientation, their age, and their area of expertise so it coordinated close by of their outcomes and could be examined related to them.

Age was estimated with a self-report, where members demonstrated which of the 7 age gatherings concerned them. This was less by and by nosy contrasted with mentioning precise ages. The age gatherings and numbers were: under 21, 21-28, 29-37, 37-44, 45-52, 53-60 and more than 60.

Strategy and Design

The investigation was a cross-sectional structure, with duty information gathered simultaneously as the prescient elements. The study was directed electronically utilizing a specially designed Google Form. Information was then gathered and investigated. The study inquiries posed can be found in Appendix A. The study was 27 inquiries in length, so as to be short enough to energize more interest by representatives.

All individuals from staff were reached by and by and given a letter of assent by the creators so as to guarantee them that support in the overview was intentional and that data which was gathered was classified and not attached to any by and by recognizable data.

Information Analysis

For the information examination the information was broke down taking a gander at every expectation factor in separation of one another and in disengagement of the socioeconomics.

 

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