requirements, and wellregulated administration as well as the fact that shares are easily transferable. With this in mind, this work focuses on the limited company. 2 What laws and agencies govern the formation of business entities? keeping a register of all shareholders and shares issued and filing the annual report and auditor’s report with the Companies Register, which will thereby be subject to public scrutiny. In addition, for the purposes of VAT, the tax authorities shall expect the company to submit
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1. For each of the following agreements, explain fully: a) whether the mistake was mutual or unilateral; b) whether the mistake involved a material term of the contract; c) whether the fairness of the situation would be grounds for arguing that enforcement of the contract was unconscionable; and d) whether the customer could seek to void the contract on the basis of mutual mistake. (Remember: define mutual/unilateral mistake, identify material terms, discuss fairness and/or unconscionable
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artificial person leads to the result that a company must always enter into contract through agents, (ii) Legal Possibility A joint stock company cannot enter into any contract the object of which goes beyond the memorandum of association of the company. A statutory corporation cannot enter into any contract which is beyond the scope of its powers as laid down in the statute by which it was created Forms of Contracts and Deeds of a Company The Doctrine of Ultra Vires The Memorandum of Association
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A. United Nations Convention on Contracts for the International Sale of Goods (Vienna, 1980) (CISG) Purpose The purpose of the CISG is to provide a modern, uniform and fair regime for contracts for the international sale of goods. Thus, the CISG contributes significantly to introducing certainty in commercial exchanges and decreasing transaction costs. Why is it relevant? The contract of sale is the backbone of international trade in all countries, irrespective of their legal
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(BA333/BLW202/W2001) Assignment Term 1 2012 Student declaration: I declare that: 0 I understand what is meant by plagiarism. 1 The implication of plagiarism has been explained to me by my institution. 2 This assignment is all my own work and I have acknowledged any use of the published and unpublished works of other people. Student’s signature:………Shin Ji Eun…………. Date:…2012.3.20…………………… Total number of pages including this cover page | 8 | Submission Date | 2012
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A year later, after Zamani is fully recovered, he wanted to cancel the contract to be back under his name. Discuss the issue by referring to the Act of Contract 1950 and other cases that has been verdict. Issue: a) Whether the contract/agreement made is valid or not? b) Whether Zamani can cancel the contract and regain his right or not? In this case we will see that the contract is under voidable contract due to lack of free consent which TWO main factors arises are from Section
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consideration surrounding each of them. Expressed Agency Expressed Agency is known as an agency by agreement; this agreement can be oral or written. Expressed agency is an agency that is commonly used. This particular agency gives the agent ability to contract on behalf of the principal. Power of attorney is a prime example of expressed agency. “A power of attorney establishes an agency by agreement that gives an agent authority to sign legal documents on behalf of the principal” (Kubasek et al
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the difference between forward and futures contracts? Fundamentally, forward and futures contracts have the same function: both types of contracts allow people to buy or sell a specific type of asset at a specific time at a given price. However, it is in the specific details that these contracts differ. First of all, futures contracts are exchangetraded and, therefore, are standardized contracts. Forward contracts, on the other hand, are private agreements between two parties and are not as rigid
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insisted that one may hire an attorney to help avoid penalties incurred from violating laws or regulations. An Attorney helps with: * Negotiating franchise agreements * Creating standard business forms, such as purchase orders and contract confirmations. * Buying or selling real property or a business. * Negotiating agreements to license intellectual property rights. * Obtaining new outside investors. Finding an Attorney (pg.838) When selecting an attorney, businesspersons would
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Rules of offer and acceptance in a contract Offer and acceptance are elements required for the formation of a legally binding contract: the expression of an offer to contract on certain terms by one person (the "offeror") to another person (the "offeree"), and an indication by the offeree of its acceptance of those terms. The other elements traditionally required for a legally binding contract are (i) consideration and (ii) an intention to create legal relations. Offer and acceptance analysis
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