Contracts MEMORANDUM Date To: From: – Paralegal Student Subject: Mutuality of Consideration Summary of Facts Bernie is selling his 2006 ford Fusion. Vivian makes an offer to purchase the vehicle for $12,000. Bernie and Vivian meet and negotiate a selling price of $12,500. Vivian has requested an additional three weeks to obtain the funds to purchase the vehicle. Bernie agrees to the extension of time but requires a deposit of $1,000. Vivian agrees to the terms. Bernie drafts
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Commercial Transactions: Complete Notes: MacDougall: 2010/2011 Term 1 • These notes are a compilation of my class notes and the course package. I also used Atiyah Sale of Goods Act for clarification at times. • The spelling and grammar below is atrocious, but I couldn't be bothered to fix it. • Good luck! Hopefully some of this is helpful. I. Introduction • This is mostly a common law course, since the SGA merely codifies as closely as possible the existent common law
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(Lylumalaysialaw.com, 2014) Sale by mercantile agent is where a person who under the permission of the owner, has possession of the goods of title to the goods. Sale by agent has the same validity as the owner of the goods and the buyer, at the time of the contract of sale, should not receive anything about not having any authority of seller to sell. (case of Folkes v King). Sale by One of Joint Owners is
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Question 1 Negligence refers to careless behavior which means somebody is not taking enough care in a situation where care is expected. People must be careful if actions affect others. If Alphonso wanted to sue the doctors for negligence, he should prove the four elements of negligence. For the Elements of negligence, it includes the duty of care, standard of care, causation and remoteness of damage.To duty of care, the defendant owed the plaintiff a duty of care about the reality of the lap
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1. Issue : The issue is whether if Peter enters into the contract with the sale person. The law of contract is a legally bind agreement with two or more contractual parties. It consists of 4 elements to make a valid contract; offer, acceptance, consideration, and intention to legal relation. This issue involves the element of offer. Applicable law: An offer occurs when the offeror is willing to enter the contract, as soon as it is accepted by the offeree. Revocation by the offeror, rejection
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Cost-Plus Contracts Cost-Plus Contracts Short Answer Question 3 This contract consists of both terms and representations. The terms are the provisions that form part of this contract. Each term that is contained in this contract will give rise to contractual obligation. If the terms are breached, litigation will be inevitable. However, the terms in this contract are not necessarily stated. Some of the terms in this contract attract little legal consequences because they are considered
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conditions which seek to protect hirers and guarantors. The basic difference between a breach of warranty and breach of condition are breach of conditions is a serious breach and it goes to the root of the contract, thus entitling the party not in breach to repudiate the contract and sue for damages. Breach of warranties is less serious breach which does not entitled the party not in breach to repudiate the contract bit to sue for damages only. Owner shall have good title to pass. The owner shall
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forum.[ Flaherty v Girgis (1985) 4 NSWLR 248, ] In the instant case, Volt is a local business which sought to supply and install batteries for 500 NSW business, Flux failed to supply the batteries according to the timeline required by the Supply Contract. Thus, Volt suffered damage in NSW. Although, later the policy has been changed. Volt may still get chance to sale part of the batteries if Flux deliver the goods on
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The existence of contract law is to prevent any sort of illegal behaviour, injustice and to clarify any confusion or misunderstanding amongst the offerror and the offeree. Everybody in this world is an offeree as we all purchase goods and services to meet our personal needs and if our expectations are not met, there is a problem which is why the contract is created for both parties to follow. However, if either of them fails to do so, then they are in breach of contract and the aggrieved party has
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Essential Elements of Contract A contract is agreement enforceable by law. Every contract is an agreement but every agreement is not necessarily a contract. An agreement becomes contract only when it possesses certain essential elements. The presence of these features in the agreement gives it legal enforceability. 1. Valid offer Any agreement between two or more parties begins with an offer. An offer is made when one person signifies to another his willingness to do or abstain from doing something
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