...BUS 850: Business Law (Assignment) Masters of Risk Management (Year 1) Matriculation Number: 139022060 1. Definition of Private Company 2. Definition of Public Company 3. List the differences between a Private and Public company by the use of a differential table Brief: According to Companies and Allied Matters Act, LFN 2004 (CAMA) Part II Chapter 1 section 18 to section 26 under the Incorporation of companies and incidental matters as regards Formation of Company. * Definition of A Private Company: According to section 22 subsection 1 of CAMA, a private company is one which is stated in its memorandum to be a private company. Subsections 2 to 5 contains the salient elements that further defines a private company 2. Every private company shall by its articles restrict the transfer of its shares 3. The total number of members of a private company shall not exceed 50, not including persons who are bona fide in the employment of the company, or were while in that employment and have continued after the determination of that employment to be, members of the company. 4. A private company shall by its memorandum have a minimum authorized share capital of N 10,000. 00. 5. A private company shall not, unless authorized by law, invite the public to: a. subscribe for any share or debentures of the company; or b. deposit...
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...Even though the Central London Property Trust v High Trees Pty case suggests that past consideration can be valid given the circumstances, there are many other cases after the High Tree case shows the concept of past consideration is not good consideration still an indicator of judgment in court. In the Re McArdle court of appeal case in 1951, Majorie McArdle carried out some repairs and improvements on a bungalow, such property was part of the family estate her father in law owned before he passed away. According to Majorie’s father in law’s will, he had left the bungalow along side all property under his name to his wife for life then on trust for Majorie’s husband and his four siblings. After the work was finished Majorie’s brother and sisters in law signed a document to state in consideration of her effort of carrying out the repairs of the bungalow, they agree to pay her $480 from the proceeds of sale, this payment was however never been made. The court held in this case, since the promise to make payment to Majorie McArdle happened after the consideration had already been performed therefore the promise to make payment was not binding. Past consideration was ruled not valid. The conclusion to draw from this case is that if one party voluntarily performs an act before another party make a promise in consideration of the act performed, such consideration count as a past consideration, which means it is not a good consideration and does not hold legal ground to sue on a contract...
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...2009)] (See page 23.) * According to our textbook, Due Process is related to both the Fifth and Fourteenth Amendments providing that no person shall be deprived “of life, liberty, or property, without due process of law.” Therefore, in this situation, due process requires the governmental decision to take those (life, liberty, or property) fairly. * 1–7 The Dormant Commerce Clause. In 2001, Puerto Rico enacted a law that requires specific labels on cement sold in Puerto Rico and imposes fines for any violations of these requirements. The law prohibits the sale or distribution of cement manufactured outside Puerto Rico that does not carry a required label warning that the cement may not be used in government-financed construction projects. Antilles Cement Corp., a Puerto Rican firm that imports foreign cement, filed a complaint in federal court, claiming that this law violated the dormant commerce clause. (The dormant commerce clause doctrine applies not only to commerce among the states and U.S. territories, but also to international commerce.) Did the 2001 Puerto Rican law violate the dormant commerce clause? Why or why not? [Antilles Cement Corp. v. Fortuno, 670 F.3d 310 (1st Cir. 2012)] (See page 14.) * In my opinion, 2001 Puerto Rican law violated the...
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...arrangement between two or more parties that is enforceable at law as a binding legal agreement. Contract have a history that where or when established. Contract law is based on the principle expressed in the Latin phrase “pacta sunt servanda”, (“agreements must be kept"). The common law of contract originated with the now-defunct writ of assumpsit, which was originally a tort action based on reliance. Contract law falls within the general law of obligations, along with tort, unjust enrichment, and restitution. Jurisdictions vary in their principles of freedom of contract. In common law jurisdictions such as England and the United States, a high degree of freedom is the norm. For example, in American law, it was determined in the 1901 case of Hurley v. Eddingfield that a physician was permitted to deny treatment to a patient despite the lack of other available medical assistance and the patient's subsequent death. This is in contrast to the civil law, which typically applies certain overarching principles to disputes arising out of contract, as in the French Civil Code. Other legal systems such as Islamic law, socialist legal systems, and customary law have their own variations. In contemporary times, each case requires an agreement between each other. It is intended that the contract is important in an agreement to prove that the two sides can conduct issues in a more prudent and responsible. Contract means the law that regulates the deal. The agreement is an agreement between...
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...Acknowledgement Acknowledgement - At first we would like to remember the name of the Almighty Allah who has created us and given us knowledge, time and energy for completing our reports. We eagerly and most genuinely would like to express our sincere gratitude to respected Faculty, (MD Saiful Islam Jilani) Lecturer, Department of Business Administration, Southeast University for overall supervision of this work, valuable suggestions, reviews and comments during the program. We are also extremely grateful to (Advocates abul hossen ) , Advocates of high court who has sacrificed his valuable time in providing me necessary information and made detailed comments that has contributed to the planning of this report. In addition, we gladly acknowledge the valuable cooperation and assistance we have received from the employees of high court. It will be really injustice if we do not thank them because without their cooperation we could not do anything. Table of content Part -1 • IMMOVABLE PROPERTY ONLY • SALE • MORTGAGE • LEASE • EXCHANGE • GIFTS • ACTIONABLE CLAIM Part – 2 • Definition of Mortgage • References to mortgagors and mortgagees to include persons deriving title from them. • Rights and Liabilities of Mortgagor Right of mortgagor to redeem. • Obligation to transfer to third party instead of re-transference to mortgagor. • Right to inspection and production of documents. • Right to redeem separately or simultaneously...
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...7.Apakah itu penerimaan di bawah seksyen di bawah seksyen 7 Akta Kontrak 1950. Di bawah Seksyen 7 Akta Kontrak , untuk menjadikan sesuatu cadangan itu sebagai janji,maka penerimaan itu mestilah mutlak dan tidak bersyarat.Selain itu ,penerimaan haruslah dinyatakan secara biasa dan munasabah melainkan jika cadangan itu menetapkan cara penerimaan.Penerimaan juga perlu dibuat dalam masa yang munasabah sekiranya tiada jangka masa tertentu yang ditetapkan. 8.Apakah maksud balasan di bawah seksyen 2(d) Akta Kontrak 1950. Menurut Seksyen 2(d) Akta Kontrak 1950 maksud balasan adalah perbuatan atau penahanan diri atau janji oleh penerima janji atau sesiapa sahaja mengikut kehendak pembuat janji .Balasan adalah perkara yang menjadi bahan kontrak iaitu suatu tukaran dalam sesuatu kontrak.Balasan perlu ada daripada dua-dua belah pihak yang berkontrak. 9.Terangkan 3 jenis balasan. Balasan terbahagi kepada tiga iaitu balasan eksekutori,balasan tersempurna dan balasan lampau. i) Balasan eksekutori ialah balasan bagi janji yang dibuat sebagai balasan kepada janji lain.Balasan ini melibatkan kontrak 2 pihak iaitu apabila satu pihak membuat tawaran diikuti dengan penerimaan oleh satu pihak yang lain dan diikuti dengan pelaksanaan balasan oleh kedua-dua pihak. ii) Balasan tersempurna pula merupakan janji yang dibuat untuk membalas sesuatu yang dilakukan.Balasan ini bersifat sehala kerana tawaran akan dibuka kepada umum diikuti dengan penunaian syarat sebagai penerimaan tawaran dan balasan...
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...Cigarettes or Smokeless Tobacco. I chose this federal agency and this specific regulation because it is one of the only agencies on regulations.gov that I am familiar with. I also chose this regulation because of my place of occupation. I currently work at Hertz rental. I had no idea how many people get arrested for trafficking drugs, alcohol, or firearms. So it kind of drew me towards this regulation. According to Regulations.gov “The Department of Justice is proposing to amend the regulations of the Bureau of Alcohol, Tobacco, Firearms, and Explosives to execute certain provisions of the USA PATRIOT Improvement and Reauthorization Act of 2005 (enacted March 9, 2006) relating to trafficking in contraband cigarettes or smokeless tobacco. The new law amends the Contraband Cigarette Trafficking Act by: reducing the threshold amount of cigarettes necessary to trigger jurisdiction under the CCTA from a quantity in excess of 60,000 to a quantity in excess of 10,000; extending the provisions of the CCTA to cover contraband smokeless tobacco; imposing reporting requirements on persons, except tribal governments, who engage in delivery sales of more than 10,000 cigarettes or 500 single-unit consumer-sized...
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...RSM225 – Assignment 2 Issues 1. Whether Frank had entered a contract with the caller? 2. How long is the offer available for? 3. What is the liability of the manufacturer for Frank’s injury? 4. Liability of on-line supplier for inappropriate advice about his product? 5. Whether Frank had made payment for securing the price or a 1st payment towards purchase? 6. What is the proper conduct for miscommunication? 7. Making a purchase when incapacitated? 8. Having received the wrong product and wrongly resold the wrong product. Legal Issues 1. When do you have an offer? a. The offer may lapse when the offeree fails to accept within the time stated in the offer, or if the no time limit is stated, within a reasonable time b. The offeror revokes the offer before the offeree has accepted c. The offeree rejects the offer or makes a counter-offer (which is in effect a rejection) d. The offeree accepts before any of the 3 above has occurred (in which case the offer ends and is replaced by a contract between the parties) 2. Lapse of offer a. When the offeree fails to accept within a time specified in the offer b. When the offeree fails to accept within a reasonable time, if the offer has not specified any time limit c. When either of the parties dies or becomes insane prior to acceptance 3. Product liability * Defective products causing injury * Dangerous products triggering a duty to warn 4. Negligent...
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...MEDIA REPORT ANALYSIS [1702 words] 1. Identify areas of law addressed in the chosen media report, and explain how they are relevant to the matters outlined in the report. This chosen article reports on the prosecution of the directors of a medical practice company called Medical Centre 2000 at Liverpool in Sydney for discriminating against a visually-impaired employee and underpaying her more than $20,000 for about 3 years. Civil Law Civil law can be illustrated in this case when workplace law and disability discrimination have been breached and the victim will be provided with legal remedies by the offenders. In the media report, it have been mentioned that doctors face criminal penalties for underpaying the disabled worker. As a result of this offence, they had to rectify the underpayment of the receptionist after legal proceeding was carried out. She also claimed monetary damages in cash as compensation for her loss and harassment. Corporations Law Medical Centre 2000 is a corporation which its business foundation is established, organised and administered regarding corporations law. It was discovered that the company and operators were breaching disability discrimination under the Fair Work Act. When the company received a disability worker subsidy, they were supposed to pay the blind receptionist a rate of $10-$17 per hour instead of paying less than $8 per hour. With that, they have breached their duties and have failure acting in good faith. In order to...
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...“Jenson V. Eveleth Taconite Co.” Normarie Castellon Professor Lisa Browning Business Law – LEG 100 Spring Term 2012 Abstract In this paper, we will discuss the case of Jenson V. Eveleth Taconite Co. In August 1988, Lois Jenson and Patricia Kosmach filed a class action suit against Eveleth Mines alleging sex discrimination in violation of Title VII of the Civil Rights Act of 1964 (Title VII), 42 U.S.C. § 2000e-2, and the Minnesota Human Rights Act (MHRA), Minn.Stat. § 363.03, subd. 1(2). This case was the first sexual harassment class action to reach the federal court system, and was overseen by U.S. District Court Judge James Rosenbaum. We will look at this case and summarize the actions leading up to the lawsuit, discuss how management could have prevented the lawsuit, discuss ethical considerations, determine which sources of law would be most relevant, and finally make recommendations on what management could as alternate resolutions. “Jenson V. Eveleth Taconite Co.” Summarize the actions that lead to the lawsuit. This particular case was a very big lawsuit for its time and has been made into a movie we know as North Country. Almost from the beginning, according to court documents, Ms. Jenson and other women were subjected to sexual harassment, verbal abuse, threats, stalking, and intimidation. This behavior has since become known as "strategic" or "territorial harassment," in this case acts perpetrated by men in a predominately male workplace. Lois...
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...Business Law – Assignment 2Advise Chris with regard to the law relating to offer and acceptance. In order to advise Chris it is necessary to consider the law relating to offer and acceptance. Chris placed the following advertisement in the ‘Antiques Monthly’ magazine on Monday; “Rare 18th Century Long case clock by Ticker for sale £15,000 or nearest offer”.Within contract law relating to offer and acceptance we need to assess whether this advertisement is an offer or simply an invitation to treat.An offer must not be vague and must be capable of acceptance as in the case of Guthing V Lynn (1831) 2B AD 232, in this court case the buyer of a horse made a promise to the seller that he would pay an additional £5 “if the horse is lucky for me” the court saw that this offer was too vague and therefore it was not enforceable, (Treitel 1999:8) defines an offer as “an expression of willingness to contract on certain terms, made with the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed".An invitation to treat shows that a person is willing to negotiate a contract, however the contract is not capable of immediate acceptance, as is in the case of Harvey V Facey (1893) AC 552 Where the seller indicated that they would be willing to sell a good at a price, this is similar to Chris’ situation, the outcome of the case was that it was seen as an invitation to treat rather than an offer, because if a contract is not accepted the buyers...
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...in securities acts; and (3) an investment contract. Next, we can use the family resemblance test to determine if the notes issued by Co-Op can be categorized as securities. The family resemblance test refers to a method of analyzing a debt instrument that is having a horizontal commonality. Horizontal commonality means pooling of interests, not only between the seller and each individual buyer, but also among all those who buy an investment contract in the same venture The following are the four factors to be considered while applying the family resemblance test: The motivation that prompts a reasonable buyer and seller to enter into the transaction in question: The Co-Op sold the notes in an effort to raise capital for its general business operations, and purchasers bought them in order to earn a profit in the form of interest. The plan of distribution of the instrument: the Co-Op offered the notes over an extended period to its 23,000 members, as well as to nonmembers, and more than 1,600 people held notes when the Co-Op filed for bankruptcy. The reasonable expectations of the investing public: The advertisements for the notes here characterized them as “investments,” and there were no countervailing factors that would have led a reasonable person to question this characterization. The existence of an alternate regulatory scheme reducing the risk of the instrument: There is no risk-reducing factor to suggest that these instruments are not in fact securities...
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...Week 1 Assignment 1. What is common law? Common law is the body of law that was developed from judicial and custom decisions in English and United States courts and is not attributable to a legislature. At first, common law was founded on common sense in regards to the social customs. Over time, it became supplanted by statute law, which is the rules that a legislative body approved, and also judgments from the higher courts. The precedents are then recognized, affirmed, and also enforced by the courts decisions. This in turn causes common law to become more expanded over time. When you contrast common law to civil law, common law is based on broader principles. In addition, civil law is based on a rigid code of rule. In addition, in civil law, the defendant is considered guilty until proven innocent once entering criminal trial. Common law is the opposite since the defendant is innocent until proven guilty. 2. What are the sources of American law? There are several sources of American law. The sources include common law, statutory law, administrative law, court rules, and constitutional law. The primary sources of American law include the U.S. constitutions and constitutions of the states, statutes and laws passed by Congress and state legislators, regulations that were created by administrative agencies, and case law or court decisions. Secondary sources of law would include things such as legal encyclopedias, legal treatise, or articles in law review. Statutory...
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...Lizbeth Gerena Business Law 201 Writing Assignment 1 Prof. Benichou May 3, 2015 Case Study 1 Crime: The students at Gigantic State University (GSU) committed several crimes when they decided to take over Dunfee Hall. The most dangerous was the assault with a deadly weapon (firearm). Whether it was real or just a play gun it was used to represent a real gun. The victim thought it to be real and she collapsed in a sobbing heal on her desk. The second crime that was committed that was the most alarming, was the hostage take over. They stormed the building and blocked Mr. Chandler in his office and would not let him out. Even though he was asleep in his office and had no knowledge of what was going on out side of his door, I believe he was still being held against his will. The third crime committed was burglary, entering a building or residence with the intent to commit a felony or theft. Let’s use the example of the students storming the building and preventing the secretary (Prudence) from calling the Campus Police and the fact that the phone was slapped from her hand. These three crimes were the most important and also most dangerous crimes committed. They are also part of what laws and rights were violated. Of course, the students do have the right to protest however, they do not have the right to put another person in harms way or threatened...
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...BUS311 ALL DQS ASSIGNMENTS AND QUIZZES To purchase this visit following link: http://www.activitymode.com/product/bus311-all-dqs-assignments-and-quizzes/ Contact us at: SUPPORT@ACTIVITYMODE.COM BUS311 ALL DQS ASSIGNMENTS AND QUIZZES BUS 311 Week 1 DQ 1 Applying the Law to a Set of Facts BUS 311 Week 1 DQ 2 Tort or Crime BUS 311 Week 1 Quiz BUS 311 Week 2 Critical Analysis Paper BUS 311 Week 2 DQ 1 Elements of a Contract BUS 311 Week 2 DQ 2 The Uniform Commercial Code (UCC) BUS 311 Week 2 Quiz BUS 311 Week 3 DQ 1 Employment-at Will BUS 311 Week 3 DQ 2 A Principal’s Responsibility for the Actions of Their Agent BUS 311 Week 3 Final Paper Prep BUS 311 Week 3 Journal Your Experience with Business Law BUS311 ALL DQS ASSIGNMENTS AND QUIZZES To purchase this visit following link: http://www.activitymode.com/product/bus311-all-dqs-assignments-and-quizzes/ Contact us at: SUPPORT@ACTIVITYMODE.COM BUS311 ALL DQS ASSIGNMENTS AND QUIZZES BUS 311 Week 1 DQ 1 Applying the Law to a Set of Facts BUS 311 Week 1 DQ 2 Tort or Crime BUS 311 Week 1 Quiz BUS 311 Week 2 Critical Analysis Paper BUS 311 Week 2 DQ 1 Elements of a Contract BUS 311 Week 2 DQ 2 The Uniform Commercial Code (UCC) BUS 311 Week 2 Quiz BUS 311 Week 3 DQ 1 Employment-at Will BUS 311 Week 3 DQ 2 A Principal’s Responsibility for the Actions of Their Agent BUS 311 Week 3 Final Paper Prep BUS 311 Week 3 Journal Your Experience with Business Law BUS311 ALL DQS ASSIGNMENTS AND QUIZZES To purchase...
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