Agency Contract Case Study: Walmart
Contracts are written between parties as an agreement to their arrangement, specifying rules and regulations decided by both parties. There are different types of contracts used in various settlements between companies depending on the type of operation decided upon. These include:
I. Agency Contract
A contract created by one party, the prime, to a second party, that’s the agent, to act in favor to and under supervision of principal to deal with the mediator. An agency interrelation is a disarraying agreement where the actions and words of an agent exchanged with a third-party joins the principal. The law of agency requires a party to employ another person to do their work, sell their goods or take decisions for them. This fiduciary relation
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The organization was founded by Sam Walton in 1962 and united on October 31, 1969. As of February 29, 2016, Walmart has 11,527 stores in 27 nations, under an aggregate of 72 pennants.
"The organization works under the Walmart name in the United States and Canada. It works as Walmart de México y Centroamérica in Mexico, as Asda in the United Kingdom, as Seiyu in Japan, and as Best Cost in India."
Using the franchise agreement, it’s a decision made by our company to take this step forward.
Advantages to owning a franchise of Walmart:-
i. We receive a specific level of independence to run the business. ii. Opportunities to realization and success are high because we’re dealing with a well-known service and goods line. iii. We receive a significant pre-opening support (site selection, construction, grand-opening, etc.) iv. Our company is offered in-progress support.
Disadvantages to owning a franchise:-
i. Running the operation according to certain limitations and procedures set by the franchisor of Walmart (goods or services offered, pricing, etc.) ii. Poor performance leads to a system-wide damaged image to the
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The time period of franchise agreement is limited and franchisee have no say in it.
A foreign investor is an individual that has a predominant ownership in an operation in one country with a quantity based in another country,
Pros of foreign
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