Contracts As a Common Phenomenon in the Business Sector Case Study

Contracts As a Common Phenomenon in the Business Sector - Case Study Example Formalities required by law have been reduced and currently, only a few formalities get required. Formalities on signing of deals and putting contracts in writing have been abolished. This has made contracting easier as parties have less legal processes involved when making such contracts. This means that oral agreements are acceptable. However, contracting in this way can be disadvantageous as parties can misinterpret, misunderstand or misremember the terms of the contract (Howells & Schulze 2009, pp.125). In a case where the agreement gets made over the telephone, the terms of the agreements should be put in writing for clear future references. Oral agreements should be summarized in writing to protect the terms of the contract from misinterpretation. In the case provided, some of the agreements made got reached over the phone. It could have been advisable that John puts such an agreement in writing. The law further provides for cases when a contract must be put in writing. This includes a case where a contract contains a guarantee. In John’s case, the agreement did not contain any guarantee. Putting the terms of the agreements in writing was, therefore, not necessary. There are several advantages that come with putting the terms of an agreement in writing. One such advantage is that formal writing is less prone to manipulation and misinterpretation as it is the case with oral agreements. When parties put their agreement in writing, copies can be made and preserved by both parties. Both parties get obliged to follow these agreements. Another advantage is that written agreements have the option of including signatures which commit the parties to that agreement (Howells & Schulze 2009, pp.125). However, considering the nature of

What are GMOs What is the controversy that sounds them Essay

What are GMOs What is the controversy that sounds them - Essay Example Today the term GMO is mainly being used to refer to the production of genetically modified food products. This is because with the assistance of genetic modification process, scientists have been able to produce agricultural products and these products have started replacing naturally grown agricultural products. Production of food products through the process of genetic modification is escalating day by day and it has already been recorded that crops that have been genetically modified are being planted over an area of more than 100 million hectares in various underdeveloped and developed regions (Pinstrup-Andersen 76). The reason for the increase in production of genetically modified crops is that these crops can be produced in a much effective and efficient manner and these crops are being considered as one of the solutions to the issue of world hunger and depleting resources. Even though there is an increase in the production and demand for genetically modified crops and food pro ducts, several controversies have surrounded the important segment of the society. These controversies include the public’s perception regarding GM foods, the impact of GM foods on human health and wellbeing and the labeling of these food products. The perception of the consumers is one of the major issues that are surrounding GMOs. The problem is that people are confused whether GMOs are healthy or they pose a threat to the lives of human beings. It has not yet been established that GMOs do not harm the health and wellbeing of human beings. Researchers have even ended up with contradictory research. Certain researchers have established that GMOs are healthy for human beings while certain have even proved that GMOs can negatively impact the health and wellbeing of human beings. The distributed and varying perception of the public is a major concern for the future and acceptability of GMOs. Magnusson conducted a research on the perception of the general public