The essence of having laws to govern sales and contracts is the imposition and regulation of such which brings about reasonable action-oriented approaches for the benefit of the participating parties. Laws, as pre-defined serve as the basic tool in regulating such system for the purpose of coherence and for legality purposes. The law of obligation, a private component law element of civil law, was established to cover contractual and quasi-contractual obligations. Among of these are the extra-contractual and enrichment without cause obligations.
The scope of this law waves in the lines of Property Law and Law of Hypothecs, Prescription Laws, Person Laws, Family Laws, Laws of Succession. (The Sales Educators) Its primary aim is to organize and regulate the privileges which are to be enjoyed by the public. What it seeks on to are the legal relations between moral persons as per defined by the legislators of the Nation. All of which by stand execute a performance towards a creditor and a debtor.
It illustrates a level of commitment between the two parties with a whole sense of bond which gives a legal form of commitment and security to still be given the chance to take the just amount or form of payment as to how the contract has been signed, still, a secured risk as for the person being asked of favor to.
Contractual Law and the Law of Sales lead a person to analyze the interest in bargaining freely. It was during the year 1970 in North America where regulatory triumphalism was enjoyed marking the consumer surge security and regulation with the environment. It was then often predicted as to be “the death of contract” having been thoroughly swept and instead were replaced with reliance based on the theory of liability which does not give sufficient security to other party of the participating contractor. (Buckley)
The form of contract, if to be based during the year of King James, the form of making bonds was through the use of barter with the use of human resource, in a more explicit term, those compromised individuals were called “slaves”. (Browne-Marshall) As a trade of goods, labor shall be on the stream.
Another example of a classical form of contract was the Laissez-Faire Contract Values. It was a form of contract which dwelled on doctrines. Those were rules swimming in offer – acceptance consideration. The unfortunate thing during the Laissez-Faire regime in the world of Contracts is that it hardly preserved the status quo or has made the privileged masses assume that they were in a glorified position. (Buckley)
Shifting the scheme from the classics to the present, a more complicated, yet safer way in venturing on to contracts has evolved in the economy. It has given both parties equal rights over the bond that taking such risk shall not make the credited lie in a bed of thorns if any unexpected circumstance shall unpredictably rise.
Agreements and sales contract have been carefully crafted in a simpler manner so as not to give much burden on participating individuals. Statutes of Fraud had also been established. Contractual Experts were delegated to take a closer observation on the effectiveness of such laws made. Confirmatory Memo Rules, Cash Sale Transactions, Auction Sales, Warranty Titles (which are applied in various situations were also given focus. (Cch State Tax Law Editors) Even a law which gives ample sanctions on those who would disregard the regulation was imposed.
Not only that, even the behavior of the participating body is already being observed before the negotiation process to avoid leading to mishaps. The performance of the contract is even well regulated in accordance with its specifications for further study purposes or rather to shun away from having similar form of shortcoming in other contracts or in the future, an innovative way which helps not only the modern society living in today’s world but for the benefit of the coming generations as well.
A form of evaluation done in the bargaining strategy had been established to state the condition of the unforeseen circumstances, such as the quality of the goods, the shipping requirements and arrangements as well as the formation of offering and accepting the trade. However, in cases of money over labor, a unique form of warranty is laid on the table. For example, a certain interest shall be allotted to the debtor for every exceeding day or month or quarter (dependent on the contract signed). (Whaley)
A best example for laws governing a state is are the highlights in New York’s contractual policy. The formulation of their laws had evolved through time and for the most recent; the following are the most important changes affecting corporations:
Many taxes are affected by budget package, conservation assessments and credits on Brownfield, Farmers’ school tax credit, Low-income housing, commercial production, Bio-fuel production and film production. (Cch Tax Law Editors) The above mentioned as reported were few of the courses of action taken by the state’s law-making body which taken as fact that the government is consistently aiming for global competitiveness and economic stability.
As a conclusion, today’s competitive milieu must not only dwell on conventional economic measure is its primary goal in undermining basic assumptions with regard on achieving what it takes to succeed in sales. The complexities of the fast changing business environment requires the skill not only in a field of signing contracts but on a deeper and clever sense of being able to assess the security of the property being hanged in auction for negotiation. Individuals of today must adjust to fundamental changes, the art of being “lean, mean, adaptable and most of all, flexible.”
Browne-Marshall, Gloria J. Race, Law, and American Society: 1607 to Present (Criminology and Justice Studies). 1 ed. New York: Routledge, 2007.
Buckley, F.H. The Fall and Rise of Freedom of Contract. Duke University Press, 1999.
Editors, Cch State Tax Law. New York State Corporation Tax Law and Regulations (as of January 1, 2007). Chicago: CCH, Inc., 2007.
Educators, The Sales. Strategic Sales Leadership: Breakthrough Thinking for Breakthrough Results. 1 ed: South-Western Educational Pub, 2005.
Whaley, Douglas J. Gilbert Law Summaries: Sale and Lease of Goods. 13 ed. Chicago: Thomson BarBri, 2005.