QuickHelper

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About QuickHelper

Levels Tought:
Elementary,High School,College,University,PHD

Expertise:
Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 261 Weeks Ago, 6 Days Ago
Questions Answered: 20103
Tutorials Posted: 20155

Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

Experience

  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Management Posted 03 Oct 2017 My Price 8.00

The way to answer a problem-solving question

The way to answer a problem-solving question:

IRAC method:

I: Identify the issues => What is the legal issue that you have to deal with?

R: Identify the rules that need to be applied in order to resolve the problem.

A: Application

C: Conclusion => Draw conclusion from the facts given in the case. The conclusion and the issue have to be connected to each other. Should be 1 to 2 sentences long only. 1 issue => 1 conclusion. 2 issues => 2 conclusions.

Case 1 page 50:

I: Identify the issues

The legal issue in this case is whether a country can break a contract with a private company without having to pay any compensation or not.

R: Identify the rules

Pacta Sunt Servanda (which is the Latin word for ‘agreement must be kept’): when the parties make an agreement, they are binded by the contract.

A: Application:

According to the rule, the country cannot break the contract. Instead, what they can do is to negotiate the contract again, not to terminate the contract because they are bound by the agreement by the other side.

C: Conclusion

 

The country cannot terminate the agreement with company B based on the rule. If they don’t negotiate, they have to pay the compensation. 

Answers

QuickHelper
(10)
Status NEW Posted 03 Oct 2017 02:10 PM My Price 8.00

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