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IDENTIFICATION. Identify the concept or principle which the following statements define or expound. Be specific with your answers.

It is an act whereby a person is permitted with the formalities prescribed by law to control a certain degree the disposition of his estate, to take effect after his death.

An admission or representation is rendered conclusive upon the person making it, and cannot be denied or disproved as against the person relying thereon.

Contracts most of the terms of which do not result from mutual negotiations between the parties as they are usually prescribed in printed forms prepared by one party to which the other may adhere if he chooses but which he cannot change.

It is the determination of the meaning of the terms or words used by the parties in their written contract.

A person who disappears from his domicile, whose whereabouts are unknown, and without leaving an agent to administer his property.

TRUE OR FALSE
If Rowena becomes a creditor of Helga before Helga entered into a void contract of sale with Salazar, she can raise the defense of nullity of contract between Helga and Salazar.
Natural obligations also grant a right of action to enforce their performance.
A voidable contract can be enforced.
A void contract cannot be ratified.
A guardian may validly ratify a voidable contract entered into by his ward.
 
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Consider the following transp. problem, where the unit transportation costs ($/unit) are as follows from source i to destination j;

Cij ; 9, 6,5,8. Where i = 1, j = 1,2,3,4. respectively

Cij ; 10,5,7,3. Where i= 2, j = 1,2,3,4. respectively

Cij ; 4,7,8,10. Where i= 3, j = 1,2,3,4. respectively

Cij ; 6, 8,4,9. Where i = 4, j = 1,2,3,4. respectively

Also,source and destination constraints (Units) are given as follows:

Source constraints are : 90,50,70 and 60; for sources 1,2,3 and 4 respectively.

Destination constraints : 60,40,80 and 90, for destinations 1,2,3 and 4 respectively

  1. Find the Starting solutions obtained by the North West Corner, Least cost,

and Vogel methods. Use the above data given.

  1. Compare these Starting Solutions , Which method is the best? Why?
  2. Use the starting solution obtained by the North West Corner method and develop the iterations that lead to the Optimum Solution (Find the Optimal Solution)
 
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A Japanese Multinational Enterprise (MNE) specializing in consumer electronic
products (such as refrigerators, washing machines, stereo systems etc.) has decided to expand
its market and export its products to new foreign locations. After consultation, the company has
decided to expand and export its washing machines in the following countries:
Name of Countries:
1.Italy
2.United States of America
3.Saudi Arabia
As stated above the company intends to sell washing machines in the above mentioned
countries. Your task is to research the culture of these three countries (Italy, United States of
America and Saudi Arabia) according to Hofstede’s Cultural dimensions and then determine
how your company may need to adjust its international marketing mix (Product, Price, Place and
Promotion) for its washing machines in order to maximize the firm’s chances for success on a
foreign soil. (15 Marks- Word Count: 350-400)

 
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Consider that you’re working with a hospitality, travel or tourism business which determines that conditions warrant a change in the amount target markets are charged for the experiences delivered. Identify the key issues that must be considered related to making those price changes. In other words, if your restaurant is going to adjust the prices on its menu, or your hotel is going to change its room rates, what are the considerations (from a marketing perspective) that have to be taken into account before the changes are made? What are the things the marketer should think about or know before they do anything? [C03 / M09-02] (Chapter #11, Video: Pricing Strategy | An Introduction, & Video: How to Set Price Strategies in Tourism)
 
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