issues that revolve around the legality of contracts and ownership of property and services. When buying or selling goods and services online, both the buyer and seller agree to a mutually binding contract that ensures the satisfaction and legitimacy of the transaction. A contract is a legally enforceable agreement between individuals or parties that promises a good or service in exchange for something else (Shefrin, 2006). Generally, contractual agreements need certain elements to make them legitimate
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Contract [Name of the Writer] [Name of the Institution] Contracts Introduction A contract is a legal agreement between two parties. For a contract to be valid, it must meet all prerequisites of the law, should bind the involved parties, and should be implementable in a legal court. Legal Competency: This means that the contract must be legally recognizable, i.e. both the parties entering into the agreement must have reached legal age (Miller, 2010). 1. Mutual Agreement: Also known
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Application of International Law Donna Turner Argosy University – Online Business Law and Corporate Ethics International law does not have a defined area or governing body. International law is made up with a collection of agreements, treaties, charters, protocols, tribunals, memorandums, and legal aspects of the International Court of Justice also known as the World Court. There are three main legal principles recognized in international law, which are not required, but are based on courtesy
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Commercial Transactions (Contracts) There are four elements of a valid contact and they are as follows. The first element is an agreement. An agreement can be between individuals, individuals and companies or companies and companies. The second element is consideration. With having consideration this is the most common when there is money exchanged for services that were provided or also goods that were exchanged. The third element is contractual capacity or where the parties are qualified
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DEPARTMENT OF BUSINESS LAW MODULE: COMPANY LAW, MANAGEMENT AND FINANCE (BUL701) TOPIC; PRE-INCORPORATION CONTRACTS: THE EXAMINATION OF THE CONCEPTUAL CONFUSION By Esther Adilli Ikenye Being a seminar paper presented at the Fourth
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Law and its application for settlement of disputes (highlights on ADR) Lecture |Largely ADR | |Two categories | Informal & indigenous mode of ADR formal or court-annexed ADR (As old as the society itself) (Since the decades of 17th in USA) USA-since 1970s, public talk- against civil justice system because of excessive delay, expense, inflexibility and technicality In a speech in 1976, Warren Burger (CJ) of USA discussed with the
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Non-compete agreements are a particularly important issue in today’s business world. Three trends that make non-competes especially important in the current business environment are a change in the definition of competition, the lack of employee loyalty, and the importance of relationship-based selling. As long as these agreements are done according to state law, they can be enforceable in the court of law. Any company that believes it has a competitive lead should consider using non-competes
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will see that it is one of many possible procedures for the settlement of disputes in regard to economic transactions. You will learn about the essential features of arbitration; that it is for the settlement of a dispute, consensual based on the agreement of the parties, private and not part of the State system of justice and leads to a final and binding decision that will be given execution by the court. This paper also identifies the selection by the parties of the place in which their international
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could ensue are those of breach and frustration of a contract. A breach is an infraction of either the law or an obligation created through a contract (Bullon, 2003). A breach of contract arises when there is a violation of a contractual obligation through failure by a party to perform their own promise, or by repudiating the agreement, or even an interference with another party’s performance of their obligations (Garner, 2004). Breach of contract arises because Big Bank would be claiming that Systems
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ELECTRICAL, INSTRUMENTATION, FIRE/GAS DETECTION & SUPPRESSION ERECTION SCOPES AGREEMENT BETWEEN STOCKGAP NIGERIA LIMITED AND GIL AUTOMATION NIGERIA LIMITED DATED THIS DAY OF 2015 This Electrical, Instrumentation, Fire/Gas Detection & Suppression Erection Scopes Agreement (“This Agreement”) is made this _______ day of _________, 2015 Between STOCKGAP NIGERIA LIMITED, a company duly incorporated
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