directly refusing to compete, the buyers lose out and as such an unfair agreement has taken place.Dimitry Alexander Kaplun40281.1716250347 Expert Type | Attorney | Category: | Business Law | Pos. Feedback: | 98.5 % | Accepts: | 1005 | Answered: | 4/13/2010 | Experience: Run my own successful business/contract law practice Ask this Expert a
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States has laws that are ordinarily used as a way to make sure that honest and fair practices are followed in business organizations. These laws are very important and should be strictly adhered to so that the organization's integrity stays intact while at the same time they continue increasing their customers and profits. The United States as well as many other countries has many antitrust laws that forbids acts or understandings that can get rid of or deter fair competition, these laws also forbids
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8.By contract dated May I, Rob agreed to sell to Nancy, and Nancy agreed to buy from Rob, a certain house located at 10 Melbourne Road. At the time she signed the contact, Nancy transferred to Rob a deposit equal to I 0% of the purchase price. The contract stated that closing and transfer of the property would occur on or before July I5. Nancy's finances were such that she needed to obtain a loan to pay the full purchase price for the house. Pursuant to the terms of the contract, Nancy was to obtain
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Week 1 Assignment Business Law Name Course ID Date School Even though not all laws are defined by legislature, general rules have been put in place to maintain a legal standard. Being established by the English almost a thousand years ago, it moves with the times and allows changes to come in and set a new precedent or change what is already in place. Common law strives to maintain that
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Business Law – Assignment 2Advise Chris with regard to the law relating to offer and acceptance. In order to advise Chris it is necessary to consider the law relating to offer and acceptance. Chris placed the following advertisement in the ‘Antiques Monthly’ magazine on Monday; “Rare 18th Century Long case clock by Ticker for sale £15,000 or nearest offer”.Within contract law relating to offer and acceptance we need to assess whether this advertisement is an offer or simply an invitation to
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Tort reform refers to the proposed changes in the common law civil justice systems that would reduce tort litigation and/or damages. Tort liability imposes significant cost on society. In 1991, US has spent a total of $131.6 billion on tort litigation, which is approximately 2.3% of the gross domestic product (GDP)1 Studies have shown that the citizens pay a tort tax of $1200 per individual or nearly $5000 for a family of four. 2 Today, tort reform is a contentious political issue and its advocates
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main sources of Scots business law” 1. Identify and describe the sources of legislation that are binding in Scots law and quote at least one example. In the modern system of Scots law there are three sources of legislation which are binding the Scots law. Those sources can be divided under the validity or power of law. The first source of legislation of Scots law is Scottish legislation. When Scotland became the part of the United Kingdom it lost the power to make the law without approval of Westminster
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CANADIAN BUSINESS LAW “REASONABLE PERSON” Assignment # 2 GBMP 511-02 Dated: 18-04-2012 REASONABLE PERSON Question: What is the concept of “Reasonable Person” mean? What is the test that determines whether someone has met that test in law? The Concept: A Reasonable person is a hypothetical person who exercises qualities of attention, knowledge, intelligence, and judgment that society requires of its members for the protection of their own interest and the interests of others. Defining
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Week 1 Assignment 1. What is common law? Common law is the body of law that was developed from judicial and custom decisions in English and United States courts and is not attributable to a legislature. At first, common law was founded on common sense in regards to the social customs. Over time, it became supplanted by statute law, which is the rules that a legislative body approved, and also judgments from the higher courts. The precedents are then recognized, affirmed, and also enforced
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13–2. Statute of Frauds. Gemma promises a local hardware store that she will pay for a lawn mower that her brother is purchasing on credit if the brother fails to pay the debt. Must this promise be in writing to be enforceable? Why or why not? (See The Writing Requirement.) Answer: Yes, the promise must be in writing in order for it to be enforceable. Gemma is assuming a secondary obligation, in which she states she will pay for a lawn mower that her brother is purchasing on credit if he fails to
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