Comparative Study of Death of a Salesman and The...

‘The pursuit of individuality and distinctiveness ultimately leads to conformity and deep feelings of failure.’ Good Morning/Afternoon, and welcome to this literary seminar at Hunters Hill High. My name is Obi Williams and I have prepared a speech on the Human Condition, its relevance in Post WW2, and how it is presented through Post WW2 literature. This time was a period of immense social transformation, as during the war, unemployment had ended and the economy had greatly expanded which meant the end of the war brought with it; higher employment levels among women, a greater search for wealth, and a more every-man-for-himself type of society. This change led to a shifting of values for the majority of the population, a shift where†¦show more content†¦Willy’s ‘hopefulness’ is displayed when he is exclaiming to Linda that he ‘Sold over $500 gross in providence and $700 gross in Boston’ even though he is lying, and only really made not even half that, this reveals that Willy’s heart is set on achieving success worthy of the American Dream standards. His hopefulness however is cut short when Linda tells him how much they owe to others, to which Willy replies ‘A hundred and twenty dollars! My God! If business don’t pick up I don’t know what I’m gonna do!â €  This exposes that, while Willy’s mind is aiming for the epitome of the American Dream, his real life situation falls very short of that. Holden Caulfield and Willy Loman each struggle with their identity between two classes of society, indecisively aiming for one and unwillingly fitting into another, leading to a perception of themselves as failures. Conforming is neither a good nor bad element of life, merely a result of pursuing individuality and distinctiveness. ‘The Cather in the Rye’ presents this through Holden Caulfield, and the mental turmoil he experiences as a result of his non-intentional conformation. Throughout the novel, Holden attempts to distinguish himself from all the ‘phonies’ he so ever-presently witnesses around him. When Holden purchases the red hunting hat, a reoccurring motif of his individuality and hunt for himself, and states ‘I shoot people in this hat’ despite being an obvious

Kierkegaard s An Age Of Dispassionate Reflection - 954 Words

Soren Kierkegaard, in his essay, the Present Age, writes about two ages—the passionate age and the present age: an age of dispassionate reflection. Kierkegaard believes the present age to be centered on reflection (deliberation, representation, anticipation), which substitutes for decisive action. The present age, according to Kierkegaard is â€Å"characterized by an ‘unhappy objectivity,’ in which the individual has become ‘leveled down’ and loses himself as part of a crowd. â€Å" One aspect of this unhappy objectivity is that our age is an age of reflection rather than of passion. Kierkegaard suggests, the most dangerous, if also the most respectable of all diseases is to admire in public what is considered unimportant in private - since†¦show more content†¦This is dangerous because in the act of doing so, we lose our true selves in the process. Kierkegaard strongly believes in the idea of individuality. If individuals (as individuals) take it upon themselves to experience first-hand meaningful action and informed opinion (which is risky) they will gain something precious. Yet, many would rather stay in the safety (and effortlessness) of the public and live meaninglessly. Kierkegaard uses the example of the skater to demonstrate his assertion of â€Å"the most dangerous of all diseases†. The skater, on a frozen lake with dangerously thin ice, sees a jewel in the distance. In the passionate age, he argues, the public would cheer and support the skater as he made efforts to reach the jewel. They would worry for him and show concern at any sign of danger. However, in an age absent of passion, the crowds would agree on the fact that it was unreasonable and not worthwhile to engage in such a dangerous activity. In addition, they would praise themselves for being clever and practical for figuring this out. The qualities of being daring and enthusiastic for something an individual may be passionate about is malformed into a feat of skill, in which people are encouraged to surrender to â€Å"the most dangerous of all diseases†: â€Å"to admire in public what is

International Strategy Energy and Climate Policies

Question: Discuss about the International Strategy for Energy and Climate Policies. Answer: Introduction One of the prime targets of an organization, in order to raise its market share and profits is to expand their business in new countries. Lidl is a grocery supermarket store of Germany, which is a well developed organization of the nation. In this report, international expansion of this organization has been considered. Three countries that were considered for expansion were Canada, Turkey and Estonia. Among them, it has been found that the most efficient country for expansion would be Canada. This report consists the beneficial macro factors of Canada that would provide an impact on an international company like Lidl. Porters five forces analysis has been considered for Lidl in order to attain the external factors affecting the organization and VRIO analyses has been conducted to analyse the strengths and weaknesses of the organization. In the last section various modes of entering international market has been stated, where one of the efficient methods has been chosen for Lidl to enter the grocer supermarket sector of Canada. Lidl is a global supermarket with its headquarter in Germany. It provides vast variety of products at a discounted price, through its various supply chains. With the success, the company perceived in the home continent, Lidl aims at expanding its business in the other countries. Among the three countries of choice that has been permitted, depending upon the competitive analysis done, Canada is efficient enough to be the target market for international expansion of business. As stated by Fertel et al. (2013), the pestle analysis of Canada can be analysed in a detailed way, realising their positive macro factors, the country like Lidl to grow. Political : Canada has a strong political framework , where, parliamentary democracy and federal system of parliamentary government prevails. Canada has a multi party system, where votes are considered as motions of confidence. The two moist dominant parties of Canada are conservative party of Canada and liberal party of Canada. There are some smaller parties who exert a smaller effect on each other. Liberalism has a special place and has gained support and adversaries in the economy. Ministers are chosen by the prime minister of the country and are appointed by the governor general. The structural framework of the ethical system of politics in the country has enabled them to grow in every aspect. Economical : Canada is considered as one of the wealthiest countries of the world. It has a growth rate of its gross domestic product of 2.46% in the year 2015. Being a developed economy, the country has a maintained growth of such rates. About 70% of the income is generated from the service sector of the economy. 2% income is generated from the agricultural sector. This show that the service sector of the economy is too strong in nature, thereby, leading the country to reach great structural heights. The citizens of the country follow high standard of living and a market oriented economic system. Various international companies have set their companies in the country, because of its comparatively cheap wages, comprehensive healthcare facilities and social security system. It would be quite beneficial for a country like Lidl to expand their business in this country, thereby , raising the scope of earning high profits. Social : the average income of the people of the country is $ 49,000 per year. The country faces inequalities in the income distribution of the economy, thereby creating a discrepancy in the income distribution structure of the country. Education is an important factor that determines the participation of labour force in the economy, yet, due to inequality in the income structure, education is not attained by all the members of the company equally. The poverty rate of the country is high, in comparison to the population of the country. It has been stated that the government does not implement effective steps to eradicate the poverty level of the nation. Technological : the country is technological very well developed, which provides the citizens of the country with various facilities and equipments. This enhances their mode of communication between each other, thereby raising the accuracy of the mode of business between different parties. The country uses various technological tools and implements them to raise the assurance of safety and security in the country. Environmental : Canada is legally incorporated under the department of the environment where the government responsibly coordinates various techniques to raise the stability of the countrys environment. Canada takes great responsibility in maintaining the environment of the nation. It incorporates various methods that helps in maintaining the sustainability of the surroundings. Legal : the Canadian legal system has been inherited from united kingdom where the constitution pertains strict laws against illegal activities. The legal system of the country has been divided into two main laws and various other minor laws. The two main laws are common law and civil law. These two laws from the base structure of the legal system of the nation. Due to the strong legal structure, unethical activities in the country are quite less in comparison to the others. These favourable micro factors affect the company in a positive way. Hence, Canada is appropriate country for the expansion plans of Lidl internationally. In order to project a successful business, the internal or micro factors affecting the organization must be analysed, in order to get a clear view of the factors that might strengthen the company and the ones that might prove to be a hindrance for them. to analyse the micro factors affecting Lidl in Canada, porters five force analysis has been conducted, where the five forces affecting the company would be bargaining power of the suppliers, bargaining power of the buyers, threat of new entrants, threat of substitutes and industry rivalry. These factors are discussed in detail, below : Bargaining power of the suppliers : Lidl is a global supermarket chain, that deals in food products. The bargaining power of the suppliers can be easily influenced by the grocery chains and the fear of losing their market share to large super markets. The leading positions of stores like Lidl can easily negotiate with the suppliers to get better promotional prices, where the inability of the small individual chains is noticed (Geppert, Williams and Wortmann 2015). The suppliers in the country are threatened by large retailers, where the company could source the products from abroad and at much cheaper rates. Being a company with efficient sources and knowledge, the bargaining power of the suppliers gets weak in front of them. Hence, Lidl does not face much hindrance from the suppliers of the grocery products sold in the stores of the firm. Bargaining power of the customers : according to porter, as the products provided by the company get standardized and undifferentiated in nature, there is a rise in the bargaining power of the consumer, as they are able to compare the products of the company with their close substitutes. Lidl strategically frames various policies that help in customer retention of the company. The company uses the technique of self servicing in the stores, where the customers are allowed to choose their products and get their own handbags or carry bags. The company does not focus in selling only food products. It has launched a new garment segment since 2014, which created great buzz among the consumers. The company aims at meeting better needs, better choices and constant promotion to be made by the firm, thereby attracting the attention of the customers towards themselves. These efforts made by the country prove that the customers have a great bargaining power over Lidl, as they easily implement al l the facilities for the customers, that makes their experience of shopping in Lidl much easier and raise their loyalty towards the firm. Threat of new entrants : the grocery market structure is dominated by few superior competitors in Canada, like Walmart, Kroger,Costco, Target andLoblaw. Lidl has been one of the most efficient supermarkets in its country, thereby having a well spread popularity all over the world. The company is well known for its services and products provided in the economy. The prevailing supermarkets of Canada have been through various issues, that have created a hindrance for them to stabilise their market shares. new entrants entering the market needs high promotional value along with huge investments on the facilities to be provided to the customers. Lidl is a well-developed company, which already has a fair share of promotional value all over the world. Hence, it would not be difficult for the company to stabilise its position in Canada. It is a well developed company, which has huge capitals to be invested for large economies of scales and gain differentiation in the product and services off ered. It would not be feasible for new entrants to enter the market so efficiently; hence, the threat of new entrants in the market is low (E. Dobbs 2014). Threat of substitutes : substitution reduces the demand for a particular product, where there is a threat of switching the demand for a particular product to the other similar ones. There is a threat of substitutes ion the market of grocery stores, as there are various supermarkets, retailers and small chains business are available in a well developed economy like Canada. Small firms are able to sell the same product at a much lower price than the supermarkets. This acts as a negative impact on Lidl. The company must implement effective strategies and plans that would help in evolving from this threat and promoting its brand in such a way, that the products are adhered to a quality of differentiation to it. Industry rivalry: there has been a significant growth in the grocery market among the dominant players in Canada. They have a great store size, with varieties of products, easy handling facilities, hassle free transactions, increase number of retailers and other prominent characteristics. With a high standard of living in the country, the people are demanding for better and sophisticated ways of marketing for their products, thereby, enhancing the growth of supermarkets in the country. This has initiated a positive effect on the leading supermarkets of the nation, whereby, there is a tough competition among each other, with respect to the attainment of maximum market share. Lidl has to implement various innovative plans and strategies that would be efficient enough to attract the customers towards the new international supermarket. People are already aware of the brand due to its leading performance in United Kingdom, thereby, providing Lidl with an incentive of being already in favo ur. The company must focus on price and value, while reinforcing the added value elements of their service (Rothaermel 2015). For a company such as Lidl to expand its business overseas, it would be quite an efficient approach to analyse the strengths and weaknesses adhered to the organization while framing the best approach of international expansion. Amongst all the analysis done, one of the most efficient frameworks to analyse such a situation is the VRIO framework. This framework was framed in order to identify the attributes that the firm must possess in order to be sustainable in the field of comparative advantage (Chapman 2012). According to the VRIO analysis, the resources must be valuable, rare, imperfectly imitable and organized. To analyse the strengths and weaknesses prevailing in Lidl, the VRIO framework had been analysed. The following results are stated briefly below : Value : Lidl is one of the most famous grocery supermarket chain in united kingdom. It has great value in the industry and has stood with high comparative advantages among the others. It provides its customers with the best quality of products and services that adds to the value of the company (Grnig and Khn 2015). This firm has been using the resources quite efficiently by implementing them in the better utilization processes. Customers trust the brand which has thereby raised the annual growth sales of the company quite significantly. Hence, it can be said that Lidl has the capability of exploiting the resources efficiently and neutralize the threats it has attained from new entrants by gaining loyalty of the customers (Zentes, Morschett and Schramm-Klein 2016). Rarity : being in the field of grocery supermarket store, the concept of rarity in the resources is not appropriate. There are no unique resources that could be used by the company in order to produce the good and services (Knott 2015). In order to source a sustained comparative advantage in the economy, Lidl has implemented various new products such as fashion apparels and other efficient grocery items under its own brand name, that are not available among the small retailers. There is a comparative advantage in this segment. Yet, there is no unique proposition of the firm that helps it to stand out among the crowd of supermarkets. In order to attain such qualities the company needs to implement various marketing plans and management strategies, as the product in which the company mainly deals at is quite easily available among various producers, thereby, reducing the chances of rarity. Imitability : being in the field of grocery supermarket chains, there are various other retailers and leading supermarkets that are selling the same products. Hence, there is a high chance of substitution, raising the chances of imitability, in order to overcome such an issue, Lidl has launches its own brand of apparels and various other products that are sold only by them. This has raised a barrier to imitability to a certain extent. Yet, these characteristics are not efficient enough to eradicate the problem completely. Hence, it is quite important for the country to issue plans in order to generate a strong barrier in this aspect. Organized : if the resources of the company are not properly organized, then it does not create any comparative advantage for the company (Pesic, Milic and Stankovic 2013). Lidl provides an efficient cooperative and properly organized environment in its workplace. This enhances the growth of the organization. It hires experienced and skilful staff members that help in generating creative ideas and thoughts for the company. Lidl puts effort on maintain long-term relationships with the employees, thereby providing them with better incentives and facilities. The technologies that are implemented in the company are of the updated value. Lidl aims at attaining superior performances in the industry. After conducting this analysis, it could be said that Lidl has value, maintains rarity to a certain extent and has an organized environment. Hence, the company has a sustainable comparative advantage, which means that their performance is sustainable above normal (Tedeschi 2013). In order to achieve the supreme stage of all the four qualities, Lidl needs to implement various strategies to avoid imitability of the product and the methods followed by the company. Modes of entry into an international market are the various ways in which a company can implement in order to enter the international market, thereby attaining market share and high profits. There are various modes of entry, which a company can undertake, yet, the company must choose the most efficient of them all, as it would provide the company with the incentive of positively affecting its future business (Laufs and Schwens 2014). In this section, after analysing various modes of entry into international market , the most efficient method would be chosen for Lidl to enter into Canada. The modes of entry into market are as follows: Licensing : licensing includes various methods of franchising and contract manufacturing. In licensing, a fee is charged by the organization in order to use its technology, resources, brand or expertise (Brouthers 2013). Under franchising, a franchiser provides branding, expertise, ideas and all the facilities that accompany needs to expands its business in a foreign country. International agents and distributors : agents or distributors help the organization as being a part of it and marketing in the international market on behalf of the organization. They charge a commission on behalf of the promotion and sales done . Agents are not committed to only one organization; this does not raise any loyalty factor from them, though there costs are comparatively lesser than the other modes of entry (Johanson and Mattsson 2015). Distributors, take the ownership of the goods, thereby, they have an incentive of raising profit from their transactions done. Strategic alliances : this is the association that forms between the competitors of the country, were the countries do not enter into any partnership with each other. They are independent of each other and remain separate, yet, they abide the rule o entering into alliances to maintain their own market share (Hohenthal, Johanson and Johanson 2014). Joint venture : joint ventures are equity based relationships that are followed by two organizations, in which each organization owns a proportion of the company shares. It is quite beneficial for new entrants to form this venture, as it would strengthen the stability of that organization in a new market (Fitzsimmons and Fitzsimmons 2013). A company like Lidl , needs to choose an efficient method of entering into international market , threat would help in sustaining the stability of the company in the new country. Canada already has some of the leader grocery supermarket chains that are highly efficient in selling all kinds of products and services to the consumers. Inclusion of a new entrant like Lidl into the market would not be appropriate enough to generate the demand among the consumers. One of the efficient methods of entering international market for the company, therefore, would be Strategic Alliances (Berman and Evans 2013). Lidl has been a well-developed organization back in its home country. It has shown huge raise in growth perspectives of the company. The company is quite famous globally; therefore raising its demand among the members of the country is not impractical. The threat of substitutes and threat of competitors is quite high for Lidl in Canada. Therefore, the only efficient method of entering the global market would be forming strategic alliances with these companies. By forming strategic alliances with the leaders of grocery supermarket chains both the organizations would attain their objectives on their own by independent and separate entities. The share the benefits and profits that is attained out of the partnership and continue to contribute to the alliance, until it gets terminated (Kaplan and Atkinson 2015). It is one of the most appropriate method for entering the international market, where both the countries are from different regions of the world. Strategic alliances help the companies to attain organization benefits, thereby providing Lidl with the opportunity to learn about the consumer habits and cultures. It would help the company in incurring lesser costs of entering a new market. Competing with the rival would incur huge costs, whereas, creating alliances with them would be beneficial for both the companies (David and David 2016). There would be a scope of reduction in competition between them. Lidl has a strong base in its home country, thereby; it could affect the market shares of the existing grocery supermarkets in the economy. By attaining strategic alliances, the existing firm of Canada would be equally beneficial as the new entrant would be. As Lidl has a sustainable comparative advantage, it is efficient in competing with the other firms, yet, its not so feasible for the company to establish the business in a well developed nation (Burke 2013). Hence, forming strategic alliances is considered to be one of the bes t mode of entering foreign markets in the economy. Conclusion Canada, due to its attractive macro factors, has been chosen as the most efficient country for the expansion of Lidl. From porters five force analysis and VRIO framework, it has been analysed that Lidl has a strong background with a sustainable environment within the organization. Yet, the company faces some hindrances due to imitability and non rarity of the products. This results in attaining a sustainable comparative advantage of the organization. According to the mode of entry into international market, strategic alliance has been considered as the most efficient method of entering the market of Canada. This would help both the new company entering the market and th existing leader firms of the country. References Fertel, C., Bahn, O., Vaillancourt, K. and Waaub, J.P., 2013. Canadian energy and climate policies: A SWOT analysis in search of federal/provincial coherence.Energy policy,63, pp.1139-1150. Chapman, R.J., 2012. Appendix 9: VRIO Analysis.Simple Tools and Techniques for Enterprise Risk Management, Second Edition, pp.587-588. Grnig, R. and Khn, R., 2015. Analyzing the Competitive Positions. InThe Strategy Planning Process(pp. 187-206). Springer Berlin Heidelberg. Grnig, R. and Khn, R., 2015. Strategy Planning Process. InThe Strategy Planning Process(pp. 41-52). Springer Berlin Heidelberg. Knott, P.J., 2015. Does VRIO help managers evaluate a firms resources?.Management Decision,53(8), pp.1806-1822. Pesic, M.A., Milic, V.J. and Stankovic, J., 2013. APPLICATION OF VRIO FRAMEWORK FOR ANALYZING HUMAN RESOURCESROLE IN PROVIDING COMPETITIVE ADVANTAGE.Tourism Management Studies, pp.575-586. Dobbs, M., 2014. Guidelines for applying Porter's five forces framework: a set of industry analysis templates.Competitiveness Review,24(1), pp.32-45. Rothaermel, F.T., 2015.Strategic management. McGraw-Hill. Geppert, M., Williams, K. and Wortmann, M., 2015. Micro-political game playing in Lidl: A comparison of store-level employment relations.European Journal of Industrial Relations,21(3), pp.241-257. Zentes, J., Morschett, D. and Schramm-Klein, H., 2017. Store-based RetailingFood and Near-food. InStrategic Retail Management(pp. 25-46). Springer Fachmedien Wiesbaden. Laufs, K. and Schwens, C., 2014. Foreign market entry mode choice of small and medium-sized enterprises: A systematic review and future research agenda.International Business Review,23(6), pp.1109-1126. Brouthers, K.D., 2013. Institutional, cultural and transaction cost influences on entry mode choice and performance.Journal of International Business Studies,44(1), pp.1-13. Johanson, J. and Mattsson, L.G., 2015. Internationalisation in industrial systemsa network approach. InKnowledge, Networks and Power(pp. 111-132). Palgrave Macmillan UK. Hohenthal, J., Johanson, J. and Johanson, M., 2014. Network knowledge and business-relationship value in the foreign market.International Business Review,23(1), pp.4-19. Fitzsimmons, J. and Fitzsimmons, M., 2013.Service management: Operations, strategy, information technology. McGraw-Hill Higher Education. Berman, B.R. and Evans, J.R., 2013.Retail management: a strategic approach. Pearson Higher Ed. Kaplan, R.S. and Atkinson, A.A., 2015.Advanced management accounting. PHI Learning. David, F. and David, F.R., 2016. Strategic Management: A Competitive Advantage Approach, Concepts and Cases. Burke, R., 2013. Project management: planning and control techniques.New Jersey, USA. Tedeschi, J.T. ed., 2013.Impression management theory and social psychological research. Academic Press.

Commercial Law Formation of Contract

Question: Discuss about theCommercial Lawfor Formation of Contract. Answer: Formation of Contract As per the rules of commercial law of Singapore, chapter 08 on the law of contract, a contract is an agreement legally binding on the parties involved in the agreement. In order to bind a contract in the legal manner, there are various requirements to be satisfied, which include the following: Parties involved in the contract are required to be competent having the capacity to contract. There must be the clauses of offer and acceptance in the contract i.e. one party must offer and other party must accept along with the flow of consideration between them. The terms of the agreement or contract must be clearly mentioned including certain necessary information on the length or duration of the agreement, amount of consideration, mode of payment of consideration and description of the products or services (Wilkinson?Ryan Hoffman 2015). In the present case, Alan offered sale of textbooks on Introduction to Business Law in Singapore together with the class notes, details of which was posted on the social networking site on 1 Nov 2014. The information on the sale of products included the description of books and notes contents, amount of consideration and the payment details. Since, the terms of sale of Alans products contain all the relevant requirements of commercial law, which included offer and acceptance between the parties, it can be said that there was formation of contract. Alan posted the details of sale of books on 1 November 2014 while the payment date mentioned was 5 November 2014. Accordingly, the formation of the contract is said to be formed when the terms of the contract is accepted by the parties (Saunders Rymsza 2015). Alan, the first party to the contract who offered the sale accepted by Bernard with the payment made on 4 November therefore the contract was said to be formed on 4th November 2014 and the contracting parties were Alan and Bernard. Further, the contract was entered between Alan and Damien as well as Charleen who accepted the offer and the contract was formed on 4 November 2014. Bernards Legal Position As per the rules on discharge of contract, if the terms and conditions of the agreement are performed completely, by maintaining the legal requirements then the contract shall be brought to an end (Enshassi Mosa 2015). In the present case, contract between Alan and Bernard entered on 4 Nov 2014 in exchange of books and notes for $200.00. Bernard duly made the payment within the due time but came to know that the same book was available at the education center for free. The legal contract between the parties requires creation of agreement with the clear and conditional intention to create the contract. Further, the information on the content of the contract should be clearly mentioned by the offering party to the contract. In the present case, Alan mentioned the details on the content of the book as well as the contents of class notes while offering the contract via social site. However, it was not disclosed by him that the book is available at the education center for free (Harmon, Kim Mayer 2015). Considering the facts and regulations of business and commercial law, disclosure of all the information related to contract is essential to make a valid contract but at the same time, disclosure of facts related to other party is not the responsibility of the offering party. Therefore, Alan is not required to disclose the fact on distribution of books on Commercial Law for free of cost. On the contrary, Bernard himself is responsible to enquire about the sale price or distribution details of the books from other sources for the purpose of comparison. In addition to this, breach of contract occurs when there is misstatement present in the contract, erroneous details or any statement by means of fraud (Calliess von Harder 2015). In case of Alans contract there was no such misstatement observed which was accepted by Bernard. Moreover, if it can be established that the intention of Alan to create the contract was to deceive the contracting parties, then Bernard should prove the same. Hence, the aggrieved party, Bernard can make application against the contract and on being proved; the same shall be declared void. Charleens Legal Position In the given case, Charleen entered in the contract with Alan since she made the payment to buy the book on 7th November 2014. Charleen was a student of GCE at O level therefore, she is considered to be a minor. According to the contract law regulations, the provisions of common law under Minors Contracts Act govern contracts entered with the minors. It states that an agreement against the minors is not enforceable if it has been entered for their benefit either wholly or partly. Section 2 of Minors Contract Act states that the contract entered with minors on the acquisition of land or shares or partnership business contracts are legally bounded on the minors (Lu, Zhang Pan 2015). Accordingly, the present case with respect to the contract entered by Alan with Charleen on the sale of Commercial Law books does not fall in the category of contracts specified under section 2. On the contrary, if the contract entered with minors covers a guarantee with respect to the minors then it will not be binding against the minor. At the same time, the legal matters of the contract may bind the guarantor if it is just and equitable to do the same (Feldman, 2015). Accordingly, the contract entered between Alan and Charleen for the sale of books is not a valid contract as per Minors Contract Act. Damiens Legal Position Damien is one of the parties to the contract who was a friend of another party i.e. Bernard entered into the contract with Alan on 4 November 2014. Damien was a student of Kaplan Higher Education, agreed to pay the consideration for purchasing the book and notes from Alan. However, Damien found that the same book was distributed by the education center on 23 Nov 2014 for free of cost. Considering the regulations of Contract Act under Business and Commercial Law, offering party is responsible to disclose all the relevant facts of the contracting subject to the accepting party. In case the contract is formed with the intention of fraud or misleading the accepting parties then the agreement would form breach of contract and the offering party would be liable to compensate the loss (Lee, Yiu Cheung 2016). In case of contract between Alan and Damien, it is difficult to prove that the intention of Alan to sell the books at $200 was to deceive the parties. However, if the same is been proved then Damien has the right to make application against the contract entered with Alan as well as the compensation of los might be available for the same. Various Alternative Dispute Resolutions Alternative Dispute Resolution is a process to settle the arguments or disputes arising in the contract in consideration with the laws and regulations. Different types of alternative dispute resolution that are available with the variations known as mediation, arbitration and neutral evaluation. Mediation is a type of resolution where a third party neutral to both the disputing parties who considers the situation to negotiate and settle the disputes. In this type of resolution, mediator focuses on determining the solution to resolve the conflict situation without influencing the decision on any of the parties (Phillips McKeown 2016). On the other hand, arbitration procedure through which the disputed matter is resolved with the help of a third party known as arbitrator who takes the decision to solve the issues. In this process, both the disputed parties present along with the respective lawyers attend the case in front of the arbitrator. Similarly, neutral evaluation is a process c onducted by a third party who could be fair to both the parties in resolving the conflict situation and disputes. In case of neutral evaluation, also the disputed parties attend the case with their lawyers to consider the key evidence and the best estimates. The evaluator is required to consider the case by following the evidence and level of disputes arising between the parties (Calliess von Harder 2015). Different dispute resolutions come with several advantages and disadvantages to resolve the disputes between the parties. In case of mediation, one of the primary benefits is that it maintains privacy and safeguard the relationships while the resolution can be faster and fair with the communication among the parties. However, the disadvantage of this alternative is that it may create a problem for the parties if later on the opinion is diverted. Another disadvantage is the necessity and willingness to discuss and communicate the conflicts and disputes. However, the arbitration resolution comes with the benefit of accuracy as it is conducted by following the legal procedures that are cheap and faster. On the contrary, its disadvantage is that it is binding on the parties on the communication basis, which may not be acceptable by either party (Wilkinson?Ryan Hoffman 2015). Reference List: Atkinson, A.R. Wright, C., (2016). 11 Dispute resolution.BIM and Quantity Surveying, p.217. Calliess, G.P. von Harder, S., (2015). Intra-Firm Trade Law: Contract Enforcement and Dispute Resolution in Transnational Corporations. InTransnational Corporations and Transnational Governance(pp. 211-246). Palgrave Macmillan UK. Enshassi, A. Mosa, J.A., (2015). Risk management in building projects: owners perspective.IUG Journal of Natural Studies,16(1). Feldman, S.W., (2015). Pre-Dispute Arbitration Agreements, Freedom Of Contract, And The Economic Duress Defense: A Critique Of Three Commentaries.Clev. St. L. Rev.,64, p.37. Harmon, D.J., Kim, P.H. Mayer, K.J., (2015). Breaking the letter vs. spirit of the law: How the interpretation of contract violations affects trust and the management of relationships.Strategic Management Journal,36(4), pp.497-517. Lee, C.K., Yiu, T.W. Cheung, S.O., (2016). Selection and use of Alternative Dispute Resolution (ADR) in construction projectsPast and future research.International Journal of Project Management,34(3), pp.494-507. Lu, W., Zhang, L. Pan, J., (2015). Identification and analyses of hidden transaction costs in project dispute resolutions.International journal of project management,33(3), pp.711-718. Phillips, K. McKeown, T., (2016). Understanding Self-Employment: The Opportunities and the Challenges for Good Policy.Government, SMEs and Entrepreneurship Development: Policy, Practice and Challenges, p.157. Saunders, K.M. Rymsza, L., (2015). Contract Formation and Performance Under the UCC and CISG: A Comparative Case Study.Journal of Legal Studies Education,32(1), pp.1-46. Wilkinson?Ryan, T. Hoffman, D.A., (2015). The common sense of contract formation.Stanford Law Review,67, pp.14-5.