...Breach of Contract - A contracting party’s failure to perform an absolute duty owed under a contract. Covenant – An unconditional promise to perform Duress – A situation in which one party threatens to do a wrongful act unless the other party enters into a contract Executed Contract – A contract that has been fully performed on both sides; a completed contract. Injuction – A court order that prohibits a person from doing a certain act. One year rule – A rule which states that an executor contract that cannot be performed by its own terms within one year of its formation must be in writing. Rescind – The act of a non-breaching party to undo a contract where the other party to the contract has caused a material breach of the contract. Statutes of Fraud – A state statute that requires certain types of contracts to be in writing . Unilateral Mistake – A Mistake in which only one party is mistaken about a material fact regarding the subject matter of contract. Bad Faith – An element that must be proven in order to find a violation of the anticybersquatting Consumer Protection act (ACPA) Domain Name – A unique name that identifies an individual’s or company’s website. License – A business arrangement that occurs when the owner of intellectual property ( the licensor) contracts to permit another party ( the licensee) to use the intellectual property. Licensee- The party to whom a license is granted Abusive homestead exemption - A bankruptcy...
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...Business Law Breach of Contract A. The offeror in this dispute is Oakley, and the offeree is world famous golfer Rory McIlroy. Oakley fits the offeror position by offering Rory McIlroy money for them to sponsor him in return advertising their brand of merchandise. Rory McIlroy fits the position of offeree by being the person that accepted the contract and agreed to advertise Oakleys goods. The provisions of that contract include a "right of first refusal" issued to Oakley. This inclusion would allow Oakley the chance to approach McIlroy to present a competing offer against any other sponsorship or marketing deal offered by another company. B. It was never stated in the article for sure but one can assume with a brand like Oakley there was a substantial amount of money paid to the golfer and that there were free gifts that were given to him for the purpose of advertisement. C. Within the suit, Oakley claims that Nike has negotiated a new deal with the golfer. Oakley claims to have submitted an offer to match the terms of that deal, but that offer was not addressed by the star or his agent. In this way, Oakley claims that it was denied the right of first refusal as outlined in the contract. D. Oakley is claiming that McIlroy's refusal to renew his existing contract has caused the company irreparable damage, including the loss of $300,000 for a photo shoot of the star and products he was meant to promote in 2013. The company is asking for an injunction that...
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...BREACH OF A CONTRACT Hadley vs Baxendale. About the Companies. Hadley carried out an extensive business as millers. Their business was stopped due to a breakage of the crankshaft on which the whole mill worked. They gave the crankshaft carrying order to Baxendale , a carrier company. But due to some reasons the delivery of the crankshaft was delayed by the carriers and because of that the plaintiffs(Hadley) had to incur losses. The plaintiffs claimed that the defendants(Baxendale) should pay them for the special damages as well since it was because of the delay of the delivery that they had to incur huge losses. Case Scene 1 Mr Hadley() (calling Mr Baxendale on phone ): Hello Mr Baxendale, this is Mr hadley speaking. Mr Baxendale() : Hello, Mr Hadley, good to hear from you. I hope you have got your delivery of the crankshaft by now. Mr Hadley : Yes Mr Baxendale, I have got the delivery. But I am afraid to say that it was late by three days!! And because of that, my company could not operate for all this duration and had to suffer huge losses because of that. Mr baxendale : I am really sorry to hear that Mr Hadley. Mr Hadley : U had signed the contract for carrying the shaft in three days and I think you must pay us for the losses we have suffered because of your negligence in the delivery of the crankshaft. Mr Baxendale : Mr Hadley, We had signed the contract but I Do not think we should be paying for your losses. After all we carriers and we did our duty...
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...Breach of the Contract and Remedies for It Breach of the contract is a situation when buyer or seller does not perform its obligations those are mentioned in the contract. By this way, there are some remedies for breach and the party which one does not fulfill his contractual promise should compensate all damages after breach. The main types of breach of contract are minor, material, fundamental, and anticipatory. Minor is a breach of contract that is less severe than a material breach and it gives the harmed party the right to sue for damages but does not usually excuse him from further performance. That means when a party to the contract fails to perform a part of a contract and the fail is very small and all parties can otherwise fulfil any remaining contractual obligations very easily without any consequences. Paul and Bill, two business partners, hire SevenSeas, Inc. to build them a boat. The contract says that SevenSeas will build the boat according to Paul and Bill’s specifications and that Paul and Bill will pay SevenSeas $2 million. One of the specifications that Paul and Bill lay out is that the boat must contain bullet-proof windows. SevenSeas builds the boat exactly according to specifications except for the windows, for which SevenSeas accidentally uses ordinary glass. Using the guidelines laid out above, the court would most likely rule that SevenSeas’ breach was minor: SevenSeas has basically finished performance, the breach was accidental, Bill and Paul...
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...Remedies Available for Breach of Contract Breach of Contract – the nonperformance of a contractual duty. A Breach of Contract occurs when one party of a contract fails to perform his or her specific obligations under a contract. Example: Alison Parker enrolled in a Business Law class, she has a friend, Phil Michaels that has taken the same class the previous semester. Phil offers to sell his used book to Alison for $25.00, Alison agrees. When they meet for the exchange, Alison has the money, but Phil has already sold the book to someone else for a higher price. Phil has breached their oral contract, and Alison is entitled for compensation. Remedy – the relief provided for an innocent party when the other party has breached the contract. There are two kinds of remedies available for a Breach of Contract: Damages and Equitable Remedies. Damages – the monetary compensation a nonbreaching party is awarded in a breach of contract. 1. Compensatory Damages – Damages that compensates the nonbreaching party for the loss he or she incurred as a result of the breach of contract. The monetary award is to replace the loss caused by the breach, to “make the nonbreaching party whole.” Example: Mary Ann is a professional house-sitter. She contracts to housesit for Ginger for the first three weeks of June for $3,000. The day before Mary Ann’s arrival to Ginger’s house, Ginger cancels and is in breach. Mary Ann was able to find another client, but because of the short notice, can only...
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...Chapter 1 Research background * Research Question * Hypothesis * Target group * Problem statement Chapter 2 Employee contracts & Guest contracts * Legal issues present * Authorities that check contracts and agreements Chapter 3 Plan of action * Implementation of the STEM Concept * Strategy to come to a solution * Suggested incorporated contract agreements Chapter 4 Conclusion Chapter 5 Recommendations Executive Summary The hotel industry is currently growing in Suriname, which makes that also that job opportunities are increasing. In Suriname there are various hotels with different classifications with different standards. It is very important for hoteliers, employees and guests that they adhere to these standards. One of the most important standards is that the hotel management must follow the agreements written in a contract towards the employees and also towards the guests. It is important for Hotels to incorporate the concept of Reasonable Care. Reasonable care is the degree of caution and concern the hotel in this case would use in similar circumstances. It is a standard used to determine a legal duty and whether such duty was fulfilled. Hospitality operations have a duty of reasonable care to protect guests. The hotel is not liable for acts that it could not reasonably foresee. A Contract is an agreement between two or more parties that is enforceable in court, which means that there must be an agreement and acceptance...
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...Debt Period of prescription Judgement debt/mortgage bond 30 years Debt owed to the state 15 years Bills of exchange 6 years Debts arising from contracts (ordinary debts) 3 years. The Remedies for breach of contract. Breach occurs when a party fails to observe one or more sections of the agreed contract. An agreement is meant to be adhered to, so a breach or failer to observe the terms and conditions as well as the instructions thereof calls for certain measure to counter such unethical moves in the world of contracts and agreements. The innocent party will therefore be entitled to remedies for breach of contract. A breach by one party of his contractual obligations does not automatically discharge of the contract even though the contract states that it will do so because the party in breach cannot be permitted to profit from his own wrong by bringing the contract to an end if the innocent party wishes it to continue. A contract may be breached by Anticipatory breach(Madhuku, 2010). It can also be breached by positive malperfomance,...
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...Business I. The essential elements of a contract and the applicable remedies in the event of a breach. Four Essential Elements of a Contract An agreement must contain four essential elements to be regarded as a contract. If any one of them is missing, the agreement will not be legally binding. a. Offer There must be a definite, clearly stated offer to do something. For example: A quotation by sub-contractor to the main contractor and an offer to lease. An offer does not include ball park estimates, requests for proposals, expressions of interest, or letters of intent. An offer will lapse: * when the time for acceptance expires * if the offer is withdrawn before it is accepted * After a reasonable time in the circumstances (generally the greater the value of the contract, the longer the life of the offer). Invitation to treatAn invitation to treat is a mere declaration of willingness to enter into negotiations; it is not an offer, and cannot be accepted so as to form a binding contract. An agreement is not created if there is an acceptance of the invitation to treat.An invitation to treat is part of the preliminaries of negotiation, whereas an offer is legally binding once accepted, subject to compliance with the terms of the offer. For example: Invitations to treat are advertisements, price lists, circulars and catalogues. | b. Acceptance Only what is offered can be accepted. This means that the offer must be accepted exactly as offered without...
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...Answer of the question Janet can sue Jack for breach of contract. Clarify the question The issue in this case is whether… List out Elements of that related topic Offer + Acceptance + Consideration + Intention to create legal relations + Contractual capacity Define the terms An offer is a definite promise or proposal made by the offeror to the offeree with the intention to be bound by such promise or proposal without further negotiation. (Srivastava, 2012) Refer the related case law with judge statement help to state general rules: According to Carlill v Carbolic Smoke Ball Co. (1893), Offer is a definite proposal made to the offeree by the offeror. There must also be intent to be bound by such an offer. State the case situation which matches the case law. Conclusion Offer and acceptance Elements: Offer + Acceptance + Consideration + Intention to create legal relations + Contractual capacity Define terms: Offer According to Srivastava,an offer is a definite promise or proposal made by the offeror to the offeree with the intention to be bound by such promise or proposal without further negotiation.) In simply words, it is an expression of somebody’s willingness to make a contract, which the expression should be clear and without further negotiation. Acceptance An acceptance is a final and unqualified expression of the offeree’s assent to the terms of the offer. It can be made in writing, orally, or by conduct. Invitation to treat An invitation...
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...Recognizing Contract Risks and Opportunities Jennifer Breeden Law/531 Business Law March 6, 2011 Monica Cosentino-Benedict Recognizing Contract Risks and Opportunities MEMO To: Span Systems Management From: Jennifer Breeden Date: March 6, 2011 ------------------------------------------------- Subject: Recognizing Contract Risks and Opportunities The purpose of this memo will be to analyze the recent contract between Span Systems (Span) and Citizen – Schwarz AG Bank (C-S). This contract’s purpose was to have Span build a transaction processing-based software system for C-S and in return C-S would pay $6 million dollars (University of Phoenix, 2002). These two companies come up against many disagreements about the language and meanings of the contract. In the end, Span worked very hard to renegotiate the clauses of the contract to continue a positive working relationship with C-S. This memo reviews the legal risks, liabilities, and opportunities that occurred during this process to make future business with C-S and other companies to come more enjoyable for both sides. Risks and Liabilities A breach of contract is the first accusation C-S made of Span, which starts the list of risks and liabilities. C-S said that the deliverables were below the standards agreed upon and were not delivered on time. C-S claimed that Span was producing deliverables of substantial performance, meaning that they were below standards set up in the contract. Span could have...
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...Runner-up in Newspaper Law Awards 2009 – presented with £1000 prize by Justice Minister Jack Straw at Lincoln’s Inn ceremony. Essay published on a legal website, Scholarship awarded for essay on Sartre and prize for Modern Languages and Subject prize for History (at school). Work experience Top City Law Firm, London: September 2010 Training Contract Reed Smith Richards Butler, London: summer 2007 Working in the employment department, I created a newsletter for clients on sick pay allowance for disabled employees, compiled tribunal claim for unfair dismissal and breach of contract and carried out research. In the media department, I researched the licences available to online radio station, compiled a glossary for departmental use and carried out proofreading duties. Mayer, Brown Rowe & Maw, London: summer 2007 I conducted research to help an associate in the employment department write an article and drafted a new clause for client’s contract. I also compiled letters, emails and invoices to clients and managed bundles. I carried out research in the IP department, advising clients on patent rights and remedies for breach of contract. Freshfields Bruckhaus Deringer, London: December 2006 Attended workshop where I dealt with case studies, took part in negotiation exercises and did work shadowing in the property law department Spratt Endicott Solicitors, Oxford: June 2006 I helped to compile dossiers, dictate letters to clients and research in the employment department and did...
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...RIGHTS OF AN UNPAID SELLER The seller of the goods is deemed to be an “unpaid-seller” where :- a) The whole of the price has not been paid or tendered or b) When a bill of exchange or any other negotiable instrument has been given as conditional payment but the same has been dishonored. An unpaid vendor has the right of withholding the delivery of goods when the property in goods has not passed to the buyer. Rights of an unpaid seller against the goods: He has the rights when the property in goods has passed to the buyer: 1. Right of Lien: The unpaid vendor who is in possession of the goods, can retain such possession until the price is paid or rendered. And if the goods are partly delivered, he can exercise this right on the remaining goods except when such part delivery amounts to show that he has given up the right of lien. This right of lien extends to the whole of goods in the possession of the unpaid vendor and can be exercise only for the recovery of the price of goods but not the amounts like godown rent, incurred in storing the goods in exercise of lien for the practice. He can exercise the right of lien – * Where the goods have been sold without any stipulation as to credit; * Where the goods have been sold on credit, but the term of credit has expired and the price remains unpaid; * Where the buyer becomes bankrupt. This right of lien is lost – * When the goods are delivered by him to a carrier, or other bailee for the purpose...
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...Among those injured were private respondents, Victoria Jaime Vda. de Kho and Gloria Kho Vda. de Calabia. Among the dead were Maxima Ugmad Vda. de Kho, Roland Kho and Willie Calabia, Sr. Legal Problems • First Case (Civil – Case No. 2196) June 5, 1979 o Uy against NFA and Corbeta due for quasi-delict, damages and attorney’s fees • Second Case (Civil – Case No. 2225) August 27, 1979 o Injured passenger, Librado Taer, against Uy, MIGC. o In turn, Uy filed a cross-claim against MIGC, Corbeta and NFA • Third case (Civil – Case no. 2256) November 26, 1979 o Private responders against NFA and Corbeta for damages dut to quasi-delict. o GSIS as insurer of the truck; Uy for breach of contract of carriage; and MIGC as insurer of the...
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...the company’s confidential information is of the highest importance, not only for the company and existing clients but also future clients. 2. Employees must treat co-workers, clients and potential clients with respect and dignity at all times. Any form of harassment or discrimination, intentional or unintentional, that includes but is not limited to race, culture, gender, religion or sexual orientation will not be tolerated. 3. Employees will not enter into any conflicts of interest with other companies of the same type of business. All employees are forbidden to conduct business with other companies with the same type or similar business. Doing so would jeopardize copyrights, trademarks and patents and will be consider a breach of contract. 4. Employees must maintain the highest standards of business conduct by providing accurate and truthful business records. The LMK Group, Inc. must rely on the honesty of its employees to accurately maintain business operations and records. 5. Employees must not mishandle company property and equipment. Each employee is responsible to maintain their own workspace and equipment for safety purposes. By signing to this Code of Ethics you are stating that you understand and agree to abide by the rules and regulations for the duration of your employment with The LMK Group, Inc. violating any of these rules will include discipline up to and including termination, depending on...
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...For example, Mr. Salesperson did not draw up the contract regarding the earnest payment on two occasions when he promised to do so. He did not practice impartially as a dual agent and seemed to be biased towards the seller. It was very unethical not to disclose the deal in the works with the other buyer. The cause of action you have here is a Breach of Contract. Looking at the rest of the facts, all the other things that were done here are not separately actionable and fall under this cause of action. You did the appropriate thing in asking for the extension in regards to the earnest payment and Mr. Salesperson agreed to the terms and seemed to have relayed the information onto the seller. At the time you requested the extension, the seller and Mr. Salesperson could have terminated at that time and moved onto the other deal, but they did not; they accepted your deal and that was unethical and a breach that provides you with a cause of action. The Defendants breached the contract by first agreeing to the extension to the earnest payment, then not drawing up the contract and finally terminating all together and selling the property to another buyer at a higher price. A contract is described as, “A written contract is usually pleaded by setting it out in its entirety in the body of the complaint or by attaching a copy. The other method of pleading is by alleging the making of the contract, and then alleging the substance of its relevant...
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