B e.centennialcollege.ca 15'USJ'\\/'33lr ASSIGNMENT1 F all 2020 Section 3 Instructions: 1. This assignment may be completed individually. 2. The assignment is due My October 16, 2020 at 8:30 M. The assignment must be submitted in ecentennial in the appropriate assignments folder. Late assignments will not be accepted, absent exceptional circumstances. 3. Choose 1 of the 2 fact situations. Answer the questions following the fact situation, using the lessons learned in class and through reading the textbook. Feel free to assume facts, if necessary, but clearly state your assumptions. 4. The format: a. Attach a Business School Cover Page with your name(s) and student number(s). The form is attached. b. Use complete sentences, and paragraph format. Please use headings and sub-headings if they add to the Clarity. c. Use the following settings in Word: i. Font: Calibri, Arial or Times New Roman ii. Font size: 12 iii. 1.5 line-spacing iv. 1\" margins (top, bottom, left and right) V. Length: 2-4 pages (excluding cover page). 5. Academic Dishonesty: The paper submitted should reect your own work, and be written in your own words. Centennial's policies conceming academic dishonesty will be strictly enforced. If you have any questions about the policies, please do not hesitate to contact the instructor. 6. Marks will be deducted for spelling and grammar errors, and for failure to follow instructions (including instructions about how the paper should be submitted). 7. READ THE RUBRIC (attached). Fact Situations Choose ONE Scenario A Kanye, an accounting student at Centennial College, interviews for a job with two rms. He really wants to work for Better Accountants LLP (\"Better\") but gets an offer of employment from Good Accountants LLP (\"Good\") rst and accepts it. When he is signing the contract with Good, he tells the receptionist that he would really like to work for Better. The receptionist tells him \"Don't worry about it. We will let you H e.centennia|coIlegeca Fact Situations Choose ONE Scenario A Kanye, an accounting student at Centennial College, interviews for a job with two rms. He really wants to work for Better Accountants LLP (\"Better\") but gets an oer of employment from Good Accountants LLP (\"Good\") rst and accepts it. When he is signing the contract with Good, he tells the receptionist that he would really like to work for Better. The receptionist tells him \"Don 't worry about it. We will let you cancel the contract if you want.\" Kanye reads the written contract and notices that there is nothing in it that would let him cancel. A week later Kanye receives offer from Better, which he also accepts. He does so because he believes he is economically better off with Better and will be able to \"cancel\" his acceptance with Good. 3. Is there a valid employment contract between Kanye and Good, or Kanye and Better? Explain your analysis, considering the six elements of a valid contract. b. Are both contracts enforceable against Kanye? Explain your analysis. c. What is going to happen to Kanye now? What should he do? d. What should Kanye have done to avoid the situation that he is in? Scenario B Kawhi wanted to buy t-shirts that he could customize and sell for a prot. Steph manufactured plain white t-shirts that seemed to be of high quality. Steph ordinarily sold the t-shirts for $5 each, but he told Kawhi that he would give him a deal if he ordered a large volume. Kawhi said he thought that would work for him, and he looked forward to doing business with Steph. Three days later Kawhi emailed Steph an order for 1,000 t-shirts stating that he would pay $3 a t-shirt. Kawhi had just agreed to sell customized shirts to Pascal and Kyle Sporting Goods (\"PKSG\") for $5 each, and to deliver the order in 2 weeks\" time. A few days later Steph replied to the email, stating that he would need three weeks to ll the order and that he would have to charge $4 per t-shirt. Kawhi doesn't know what he is going to do. He could not possibly meet his obligations to PKSG. a. Is there a valid contract between Kawhi and Steph, or Kawhi and PKSG'? Explain your analysis, considering the six elements of a valid contract. b. Are both contracts enforceable? Explain your analysis. c. What is going to happen to Kawhi now? What should he do? (1. What should Kawhi have done to avoid the situation that he is in? Rubric: Assignment 1 (a) Validity of The conclusion about the Conclusions are Conclusions are incorrect Contracts validity of the contracts generally clear and 5 marks is correct correct. Analysis is vague and disorganized or The ere elements of a valid but some minor