Business Law Of Cloud Finance Inc Samples †MyAssignmenthelp.com

Question: Discuss about the Business Law Of Cloud Finance Inc. Answer: This agreement of sale was formed between Cloud Finance Inc. and Outstanding Financial Success located in Toronto, Canada. Both the parties formed a partnership as one company buys computers and the other sells. The contract was formed as both the parties were interested in the new financial forecasting software. This software was not sold commercially but the internal tests show how accurate it is. Few of the problems were to be worked out but the software will be ready for use by the end of December. The contract was made on a consideration of $150.000 US. The policy of Cloud Finance, a corporation of USA is to propose a warranty of 30 days for functioning of the software. However, it was not prepared to make any promise or commitments as to the accuracy of its projections since it is a new product. Financing the product is a way to publicize the deal. Keeping in mind that it is a start up company, promoting the product will be a good way to grab the attention of the public and it will therefore be profitable for Cloud Finance Inc. It must be promoted in such a way that the public gets convinced on the fact that the software will be ready for commercial use by the end of December. Cloud Finance Inc. that is the corporation of California should ensure the public that are persuaded. For doing so, the 30 days warranty of the companys policy on the functioning of the software should be marketed and promoted. As mentioned before, financing is also a possibility but it requires the ability to assign it to a financing company. The deals must be publicized with the help of advertisements and other media so that it can get the attention of the public in order t o make it profitable. Representing the Californian Corporation of Cloud Finance Inc. needs to convince their partner Outstanding Finance Success which is a Canada based company for forecasting the new software. Since the consideration was $150.000, the startup should be focusing on promoting the products of the new software that will be put to commercial use by the end of December. The agreement of sale was being constituted at the beginning of the year. Cloud Finance Inc. is the selling company of computers therefore it should have the ability to assign it to a financing company. To make the company profitable, it should make the public aware of the benefits of this new software that will be used for commercial purposes. However, contract is a risk management tool that should be formed between two parties. The consequences of the contract or the potential problems can only arise if one of the parties breaches the contract. Breach of the contract will make the contract get terminated since the contract will not be considered as completed. The agreement formed between the two parties Cloud Finance Inc. and Outstanding Financial Success should be a valid one.