...LAW CASE STUDY (Topic-2) "The core idea of negligence is that people should exercise reasonable care when they act by taking account of the potential harm that they might foreseeably cause harm to other people.”[1] INTRODUCTION: In this particular case are there many contractual terms that are used. So, to solve this case or before giving any judgement, we need to define these terms and gain sufficient knowledge about them. The first and the most important thing we need to know is: What is a contract? A contract is an agreement which is enforceable by the court of law. For a legal contract there has to be an offer and its acceptance. “Acceptance occurs when the party answering the offer agrees to the offer by way of a statement or an act. Acceptance must be unequivocal and communicated to the offer or the law will not deem a person to have accepted an offer merely because they have not expressly rejected it. Some modifications to the rules of offer and acceptance have been made to protect consumers by sections 18 and 41 of the Competition and Consumer Act 2010 (Cth) schedule 2 Australian Consumer Law (“ACL”) for example, invitations or offers to purchase cannot be misleading or deceptive.[2] Thus acceptance is a very important concept of contracts. Generally a valid contract has acceptance. The different types of contracts are: Formal Contracts and Simple Contracts. “A simple contract can be totally written, partly written and partly “oral” (verbal), or totally oral...
Words: 1882 - Pages: 8
...LAW OF CONTRACT: VOIDABLE CONTRACT A formal agreement between two parties that may be rendered unenforceable for a number of legal reasons. Reasons that can make a contract voidable include failure by one or both parties to disclose a material fact. Circumstances or features that make a contract voidable include coercion, undue influence, fraud, misrepresentation and mistake. Based on our case review, we more focus on voidable contract under undue influence. In section 16 has defined undue influence a contract is said to be induced by undue influence when the relationship between parties is such that one party is able to dominate his will on the other and uses that position to gain unfair advantage. In particular and without prejudice to the generality of the foregoing principle, a person is deemed to be in a position to dominate the will of another: a) Where he hold a real authority over the other. b) Where he makes a contract with a person whose mentally capacity is temporarily or permanent. In section 16(2) implied or provide with example that in certain situation, a person is deemed to be in the position of dominating the will of the other if: • If the person holds a real or apparent position of power. • If stands in a fiduciary relationship with the other. • If the other person is mentally weak because of sickness, disease, or economic distress. ISSUES OF CASE There are three issues raised in this question. They are: 1) Whether induced by undue influence...
Words: 991 - Pages: 4
...LAW 3235 SEM 2 2013/2014 QUESTION ‘’ Syariah court has no legitimacy for non-muslim’’ Discuss the jurisdiction of Syariah court and civil court in Malaysia. INTRODUCTION Position of syariah court in Malaysia Syariah refers to Sharia law in Islamic religious law and deals with exclusively Islamic laws, having jurisdiction upon every Muslim in Malaysia. The dual-system of law in Malaysia is provided for in Article 121(1A) of the Constitution of Malaysia.The Syariah Court system is one of the two separate system of courts which exists in Malaysian legal system. There is a parallel system of state Syariah Court, which has limited jurisdiction over matters of state Islamic law (Shariah). The Syariah Courts have jurisdictions only over matters involving Muslim, and can generally only pass sentences of not more than three years imprisonment, a fine of up to RM5,000, and/or up to six strokes of the cane. Article 145 of the constitution says the Attorney General of Malaysia has no power over matters related to the Sharia courts. There are three levels of the courts: Appeal, High and Subordinate. Unlike the civil courts in Malaysia, which is a federalised court system, the Syariah Court is primarily established out of state law. Similarly syariah or Islamic law is a matter of state law, with the exception of theFederal Territories of Malaysia, as provided in Article 3 of the Constitution. Thus syariah law in one state might differ to that of another state. There are 13...
Words: 2400 - Pages: 10
...CONTRACT REVIEW ASSIGNMENT Instructor: Barb Eccles Business Law 3051-FA Matthias Majerczyk Due Date: Tuesday, November-27-2012 BigCo Agreement for Exchange of Confidential Information 2) Most people who have positions in a corporation are employees under the legal entity. So, therefore Really Smart Guy is the Vice-President and an employee of BigCo Limited. BigCo can use confidential draft patent application and some confidential information to compete with III. This is according to paragraph 4, “BigCo can use III’s ideas, concepts, know-how and techniques for its own business activities to compete with III, only if III’s Information is retained in the memories of BigCo’s employees who have had access to the Information under the BigCo Confidentiality Agreement.” BigCo was also given a draft business plan. BigCo cannot use the business plan to compete with III according to paragraph 4, “nothing gives the BigCo the right to disclose, publish or disseminate the business plans of III” 3) BigCo can terminate its agreement with III by providing a one month’s written notice BigCo. III’s and BigCo’s obligations for disclosing information will extend beyond the termination and will remain in effect until fulfilled. The Survival clause is really weird and it conflicts with the Confidentiality Period on paragraph 3. How can you say that it will extend for two years following the initial date of disclosure, then the survival clause states that any terms of the agreement will extend...
Words: 1120 - Pages: 5
...Audi R8, worth RM 900,000. The car has now been delivered but she is unable to pay for it. Discuss. First of all, the Law of Contract has been defined as an agreement which is legally binding between the both of parties. A contract simply means an agreement between the parties however the agreement has some important element within as it alone does not stand to have a binding contract. In a contract, there should have all the elements as proposed which will be offer, acceptance of offer, consideration, intentions to create legal relations, capacity, consent, legality and possibility of performance. In this particular situation, the element of capacity is lacking in this contract. Capacity to a contract defines us that parties in a contract must have the capacity to make a contract. In a simpler way, capacity is referred as legal ability to enter into a contract and the law generally states that everyone has the capacity to a contract except for certain circumstances which will be discussed in the following paragraph. Phing is 17 and underage, which makes her legally ‘incapable of capacity’ due to her minor status, and therefore any contracts made by Phing would be void ab initio except for certain exceptions, such as contracts for necessaries, scholarship contracts and insurance contracts. Section 11 of the Contracts Act 1950 is about contracts entered into by those who have no capacity. This section states that a person must satisfy the age of majority according to...
Words: 842 - Pages: 4
...CONTRACT LAW KENNETH D ROBINSON JR BUSINESS LAW 311 GARY GENTRY 9 JUNE 2014 Abstract A Body of law that governs oral and written agreements associated with exchange of goods and services, money, and properties is recognized as contract law. Contract law includes topics such as the nature of contractual obligations, limitation of actions, freedom of contract, privity of contract, termination of contract, and covers also agency relationships, commercial paper, and contracts of employment. Contract law is one of the many different aspects of business law and must be understood in the world of law. From valid contracts, to voidable, enforceable and unenforceable contracts they must all be understood and taken into account. If you were starting a business you would first need to know what contract law is, its history and why is in important in the world today. CONTRACT LAW Over the last several of weeks since announcing it was banning Los Angeles Clippers owner Donald Sterling for life, The NBA has had hopes of getting approval from the league's owners to force him to sell the team, little has been known of the NBA's exact legal strategy. While the league's constitution, publicly revealed for the first time by the league last Tuesday, made it clear that grounds exist to remove an owner if that owner "fail(s) or refuse(s) to fulfill its contractual obligations to the Association," it remained unclear what contracts Sterling might have violated when he made...
Words: 2553 - Pages: 11
...Week 5 Final Paper Betty Poppins Bus 311 Instructor Brandy Krectzburg 7/01/13 Business Contracts: Protocol, Laws & Ethicality There are various kinds of contracts which arise within our business world today; contracts are an essential component to business livelihood. Although a contract is an agreement, not all agreements are valid contractual obligations. In order for any contract to be an official and legally binding agreement, there are essential requirements which must first be fulfilled. Because contracts are vital to the organization and its success, it is important that the organization has an inclusive understanding of the inner workings of business contract and law and sustaining ethicality within these agreements; this will help ensure that each and every business transaction is a smooth and successful endeavor from beginning to end. What is a contract, and what makes it valid? According to Essentials of Business Law, by Susan Rogers (2012), a contract is described as being “a legally enforceable agreement between two or more people.” Therefore, a contract emerges from the voluntary consent of two or more people with mutual accordance to enter into this agreement. Contracts are helpful to business, as these agreements are binding to both parties involved. In order for a contract to be a valid and binding agreement there are five fundamental yet essential elements that must be present, and these are: 1. The Offer, 2. The Acceptance, 3. Consideration...
Words: 2880 - Pages: 12
...Introduction: Simply, law can be explained as a collection of rules which are mainly created by a particular state or state government & the state, as an authority, is responsible for enforcing the law made within its jurisdiction via using various kind of sanction. While talking about law we should have a clear idea about three basic concept power, fascination & importance.Sources of law are also importance which can be constitutions, statue, common law, administrative law, equity etc. In business world, we use different kinds of law & law of contracts is one of the most widely used business law which is basically used to understand future business related The Aspects of Contracts & Negligence for Businessissues in more predictable manner by people engage in contracts. Contract is basically a promise that gives the official commitment that the law will be enforced.Judicial activism, which creates law to be less predictable & more flexible, & judicial restraint, which makes law more predictable & less flexible, is two important issues closely related to contracts that need to be defined properly. Task 1: P1- The essential element of valid contracts in a business context: A contract, to be valid in a business context, must have some essential elements which can be basically classified in four major categories- ð Agreement- In every contract, there must be an agreement between two parties where one party needs to make any kind of valid offer & the other party needs...
Words: 1731 - Pages: 7
...Assignment Topic: Laws that Affecting Business Name: Sumon Roy ID: 4050 MBA (Evening Program) Department of International Business University of Dhaka Submission Date: Saturday, 17th May 2010. Table of Contents: Contents | Page | Introduction | 1 | Definition of Business, Law & Business Law | 2 | Sources of law | 3 | Different laws affecting business | 6-11 | Laws regarding commerce in Bangladesh | 12 | Laws regarding Industry in Bangladesh | 13 | Conclusion | 14 | Introduction: In the present world business plays an important role in every sphere of life. Business determines one’s life style, standard of living, education and even cultural standard. So to lead a bette-r life we need to understand business and study business. Business is dynamic – always changing. Coping with both predictable and unpredictable events can be easier, more efficient, and less traumatic if we understand business. Study of business will help us to understand that today national economies are no more independent entities rather interdependent and taking an uniform global shape, economic depression in U.S.A. has an impact on the whole world, business and global warming are not different issues, war in Iraq or Afghanistan has some kind of link with business, China becoming a factor in the world economy because of excellent business skill and the system known as “Free Enterprise”. However the road to success will be easier for those who understand how business works. ...
Words: 2215 - Pages: 9
...Topic An Assignment on Aspects of Contract and Negligence for Business ------------------------------------------------- ------------------------------------------------- Submitted By: ------------------------------------------------- Student ID… ------------------------------------------------- Module Name: ------------------------------------------------- Group: ……. Date of Submission: …………… Table of Contents LO1 A valid contract in a Business Context 3 1.1 The importance of the essential elements required for the formation of a valid contract 3 1.2 Impact of different types of contract 4 1.3 Analyse terms in contracts 5 LO2 Elements of a contract in Business situations 5 2.1 Elements of contract in given business scenarios 5 2.2 Law on terms in different contracts 6 2.3 Effect of different terms in given contracts 6 LO3 Negligence in Business Activities 7 3.1 Contrast liability in tort with contractual liability 7 3.2 Nature of liability in negligence 8 3.3 How a business can be vicariously liable 9 LO4 Principles of liability in negligence in Business Situations 10 4.1 The elements of the tort of negligence and defence in different business situations 10 4.2 The elements of vicarious liability in given business situation 11 References and Bibliography 13 LO1 A valid contract in a Business Context 1.1 The importance of the essential elements required for the formation of a valid contract Everything requires some principles...
Words: 3387 - Pages: 14
...Level 5 HND in Business Module Handbook Unit 5: Aspects of Contract and Negligence for Business Unit code: Y/601/0563 QCF level: 4 Credit value: 15 credits Module Tutor: Anila Mushtaq Contact Details: anila.mushtaq@yahoo.co.uk Preferred style of contact: In the first instance, if you have any queries regarding the teaching or assessment for this module, please ask question during the lecture. If you do not receive a satisfactory response then e-mail me with your query for an appointment. Introduction: The aim of this unit is to provide learners with an understanding of aspects of the law of contract and tort and the skill to apply them, particularly in business situations. Unit abstract: The unit introduces the law of contract, with a particular emphasis on the formation and operation of business contracts. Learners are encouraged to explore the content of these agreements and then develop skills relating to the practical application of business contracts, including offer, acceptance, intention, consideration and capacity. Relevant case law examples will be covered. Learners will consider when liability in contract arises, the nature of the obligations on both sides of the contract, and the availability of remedies when a contract is not fulfilled in accordance with its terms. Additionally, the unit will enable learners to understand how the law of tort differs from the law of contract and examine...
Words: 2001 - Pages: 9
...issues in business for a valid contract 7 1.1. The elements in formation of a Valid Contract 7 1.2. Types of Contract 12 1.3. Terms in contracts 17 II. The elements of a business contract in business situation 19 2.1. The elements of contract in the business case 19 2.2. The law on terms in the above two different contracts 20 2.3. The effect of different terms in the two contracts 22 CONCLUSION 24 REFERENT LISTS 25 APPENDIX 26 INTRODUCTION Currently, it is acceptable that most of company in the world also use the contact as a essential part in their business. The concept of contract nowadays is becoming more and more common in business environment. Contract is defined as an agreement which legally binds the parties (BPP Professional Education, 2004). However there are many types of contract between two businesses such as unilateral, bilateral, specialty, simple and standard form contract. Understanding deeply about deeply about value contract and variously type of contract will really useful for most of company in running their business as well as making it legally in their process of business. In this easy will explore the vital elements which necessary to establish a valid contract and provide some example to explore the term in contract such as condition, warranty innominate terms and exclusion clause. In addition, the essay also gives some case study to illustrate the important of understanding valid contract in their business. ...
Words: 7749 - Pages: 31
...Issues Contemporary Business Law-LAW/421 Dina Centifanti Gledhill May 28, 2012 International trade is important and beneficial to business. However international trade must be guided with a safeguard of interests, specific business contract, defined law, forum of dispute settlement, and understanding of contract clauses. “A working knowledge of international law helps business owners and managers with global interests reduce risk and increase profits” (Melvin, 2011, P. 631). This enlightenment will address the international legal and ethical issues involved in international business transactions and compare such to domestic business operations. Resolving legal disputes Business internationally, enviably creates change in legislation, interest conflict, and rise of ethical dilemmas. When international business arises, business owners, and management must use precaution to avoid ethical, legal, and cultural issues. Business must prepare for the unexpected to ensure success. Often conducting foreign business requires the parties to set standard law, determine how to settle disputes, and define contract clause to determine the correct business decision applicable through contracts. Foreign businesses commonly use contracts for the international sale of goods as standard law. “Contracts for the international sale of goods was created by the U.N. Commission on International Trade Law to establish uniform rules for drafting certain international sales contracts” (Melvin, 2011...
Words: 652 - Pages: 3
...CORPORATE AND BUSINESS LAW I—Course Outline Instructor: Professor Charles O. Kwarteng References Materials Books Required: K. Adjei-Mensah, Principles of Business Law, Volume ONE (ISBN 9988-0-0944-5). (good for business law) Recommended. K. Adjei-Mensah, Principles of Business Law, TWO (ISBN 9988-0-0945-3) (good for companies) . Internet Materials: www. kkaufhold.net/files_/Bussiness_Law_Outline 2.pdf (good outline for business law) www. Ekconsultinggroup.com/assets/resources/Business_Law_Notes.pdf (good outline for company law) OUTLINE 1. Sources of Law a) Constitutional Law b) Statutory Law (Ghana Company Code) c) Executive Decisions: Executive Decrees, Proclamations, Orders Judicial Decision-Case Law: Doctrine of Stare Decisis (Salomon v Salomon) Treatises of Eminent Jurists Restatement of Torts/Restatement of Contracts International Law Treaties (Bilateral and Multilateral). Compare AGOA (Ghana and US) and ECOWAS Treaty (West African sub-region). Readings: Adjei Mensah, Principles of Business Law, Volume I, Part 3 2. Law of Contracts Types (Oral/Written; Bilateral/Unilateral; Executed/Executory, Terms : Express/Implied: Express Contract/Implied Contracts Oral Contracts and the Statute of Frauds (“MYLEGS” Contracts) 1) Marriage 2) Contract for Years 3) Land Contracts 4) Contract of the Executor 5) Guarantor’s Contract 6) Contract of Surety 2) Writing required in the ff cases (i) Real Property Contract including...
Words: 717 - Pages: 3
...ASSIGNMENT ON LEGAL ASPECTS OF INTERNATIONAL CONTRACT SUBMITTED TO SUBMITTED BY PROF. A K PANDEY PRABHAT ANAND(2K12B72) INTRODUCTION INTERNATIONAL CONTRACT: The international contract is a contract that has a foreign element, that is to say that the contract is in contact with one or more order (s) legal (s) abroad (s). Specifically, the foreign element may be resident abroad, a party to the contract, nationality, place of contract conclusion, and many other possibilities. The commercial contract is a contract for a commercial transaction or a contract made by a trader for the purposes of his trade. Therefore an international commercial contract is the addition of foreign elements in a commercial contractual relationship. Example is a contract between a French commercial agent to an American entrepreneur. Or it may be a contract between a French company and a provider of electronics in China. The formation of a contract Main points that need to be addressed: • Agreement: who decides that an argreement has been reached (objective/ subjective approach) • Offer and acceptance: offer of invitation, display of goods, advertisements etc leading to acceptance • Certainty and agreement mistakes • Consideration and form • Intention to create legal relations: domestic...
Words: 2092 - Pages: 9
