MGT611 Assignment 1 Solution fall 2018

MGT611 Assignment
Idea  Solution
Ø  Legislation:
                     Legislation is the process through which a state makes its laws that are enforceable in the state. Legislation is not limited to making laws only but it confirms the enactments of those laws.
Ø  Precedent:
                       If a similar situation arise which
have already occurred in past, then we can follow that previous event and the action taken in that event considering it as our guide and example to decide future and subsequent circumstances.
Ø  Customs:
                       Customs can be known as a mechanism of levying duties on goods and services imports. The government department administersthose duties and collect them from importers on import stage.
Ø  Agreement:
                      When one person signifies to another his willingness to do or to abstain from doing with axiew to obtaining the assent of that other to such act of abstinence, he is said to make a proposal. And when a proposal is accepted it becomes a promise. And If that promise fonns any kind of consideration for both parties it becomes an agreement

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