Agency Law 1. Agent is not a party, only representative to carry out almost all legal acts of principal. 2. Agent must have authority to represent. Relationship is normally contractual. a. Express authority ACTUAL: being set out/stated in words by principal, orally or in writing.超过一年或一年可能不能完成、买卖land/interest in land/business must written document即为power of attorney. b. Implication authority ACTUAL: • Authority被要求做things necessarily or normally incidental to acts that have been expressly authorized
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which we can use in the practical aspect of business. Also from the case studies which is given is very helpful for practical day to day issues. This study is focused on non-lawyers therefore we should give a clear picture of the concepts such as the contracts, negligence torts , breach of conditions etc. this is also helpful to understand and learn the legal terms used in business contracts. This study helped me to understand the key elements of a business contract, Tort of Negligence and also the
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business’s debts and obligations” (The legal and ethical environment of business, 2014, pg. 350). However, this does not just include debts and obligations such as loans, money received for future services, and contractual obligations. As we have seen in the numerous case briefs so far in this class regarding negligence and the various other torts, Owen will have to be very careful in how he conducts business. Owen’s business would not be the only asset he would lose if he were to be found liable
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service based industries one of the fastest growing forms of market structure is that of franchise agreements. Certain aspects of franchise contracts tend to be idiosyncratic in nature thereby attracting a great deal of interest by academics and business analysts in recent years. Various explanations have been proposed for the widespread use of franchise contracts in certain industries. While a great deal of the franchise contract has been explained in the literature, there remains certain aspects
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| |UK COLLEGE OF BUSINESS AND COMPUTING | |Course title |Unit number and title | |BTEC HND IN BUSINESS | Aspects of Contract and Negligence for Business
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manufacturing, processing, trademark, know-how or some other skill provided by the licensor. The following are the advantages and disadvantages of this strategy. Advantages | Disadvantages | 1. Provides opportunity to low risk manufacturing relationships | 1. Disclosure of accumulated competitive knowledge and experience | 2. Capital not tied up in foreign operation | 2. Creates possible future competitors | 3. Access to difficult markets | 3. Lack of control over license operations | 4.
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Abstract July 2012, after one decade of the scandal ENRON and associates, the history was repeated, with one of the most prestigious banks, JPMorgan Chase had announced the losses of almost $ 5.8 billion from a dysfunctional trading operation, as a result of gambling with other people’s money, on Wall Street. JPMorgan’s report to the SEC that the bank recorded a $718 million loss from the London trades on its internal accounts, but did not report the loss in its first quarter earnings
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replaced an earlier version called Accounting for Research and Development Activities that had been issued in July 1978. The IASB revised IAS 38 in March 2004 as part of the first phase of its business combinations project. In January 2008 the IASB amended IAS 36 again as part of the second phase of its business combinations project Other IFRSs have made minor consequential amendments to IAS 38. They include IAS 16 Property, Plant and Equipment (issued December 2003), IAS 1 Presentation of Financial
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desired, but also the quality of commercialization. So the procurement has come and is essentially delivering value through all kinds of relationships. This report shows why procurement is desired urgently and how the procurement process works. Procurement is the process of acquiring outside service through soliciting and evaluating proposals and establishing a contractual agreement which includes monitoring project work for conformance to the contract and closing out the contract. For most of organizations
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the contract. Genuine assent may be lacking due to mistake, fraudulent misrepresentation, undue influence, or duress. As was true with contracts entered into by persons lacking contractual capacity, contracts lacking genuine assent are voidable, not void. Ch. 14: Contracts: Genuineness of Assent - No. 1 West’s Business Law (8th ed.) MISTAKE Mistake: The parties entered into a contract with different understandings of one or more material fact(s) relating to the subject matter of the
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