Introduction In this assignment I’m going to discuss about the problems arose between the parties, advice to the parties and look into the possibilities available for the parties. The main problem arose in this question is on lease and license. Throughout this assignment I have discussed the difference between lease agreement and license agreement, formalities and characteristics of lease agreement and license agreement with deciding Common Law cases and also legal rights nd equitable rights available
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them to become the leading inventor of raw materials in the country. David, himself was able to recover the mismanagement of the company under Rafael Buenaventura. In 1988, the American principal offered his plans to David of GPC engaging in the contract manufacturing of pharmaceutical products for both domestic and export markets. The proposed project was to compound locally all products that it will manufacture and sell, importing only the active ingredients and bulk materials that is unable to
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for exceeding something that wasn’t a reasonable or appropriate award constituted a valid contract or not. What are the 4 elements of a valid contract? There are four elements of a contract and when a party files a suit claiming a breach of contract; the first question the judge must answer is whether a contract existed between the parties. The complaining party must prove four elements to show that a contract existed: (1) offer, (2) Consideration, (3) Acceptance and (4) Mutuality. If any one of them
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repudiated the contract made with Stuart Facts: Stuart persuaded Jimmy Lin, a 16-year-old guitarist with established reputation, to enter a contract as a contestant. After signing the contract, however, he repudiated it the next day. Analysis: Jimmy Lin is only 16-year-old when he signs the contract with Stuart. As a minor who has not attained the age of majority, which is 18 in Ontario, lacks the competence---the legal capacity to be bound in a contract. “The general rule is that a contract made by
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defendant owed the plaintiff a duty of care about the reality of the lap band surgery. And the defendant had a responsibility to take care not to cause any loss to plaintiff. As in the Lord Atkin in Donoghue v Stevenson[1], one person should avoid acts or omissions that would be likely to injure his/her neighbor. Thus, it was reasonably foreseeable that the doctors had made the failure to warn the danger and led to Alphonso’s injury. Dr Corinthian is a specialist with expertise about the risk of
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Introduction The following case study provides an analysis of central idea of consideration and when the contract is enforceable because the agreement lacks consideration. In addition, discussion of multiple sources of law such as common law and the Uniform Commercial Code will summarize the difference between those sources and help to determine which one is applicable in the reviewed case study. Case Study As a recap of the facts, Jinsoo Kim invested about $170,000 into two companies part-owned
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Contracts Assignment 1 Facts Bernie a resident of Richmond, Virginia decides to sale his 2006 Ford Fusion for $13,000.00 and places an ad in his local newspaper on February 1st. After several weeks without any inquiries, Vivian contacts Bernie on March 1st stating she will pay him $12,000.00 for the car. Bernie arranges to meet with Vivian on March 5th to complete the deal. Vivian comes to Bernie’s house on March 10th and says she will give Bernie $12,500.00 for the car; but she needs three
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Contracts Agreements between two entities, creating an enforceable obligation to do, or to refrain from doing, a particular thing. Nature and Contractual Obligation The purpose of a contract is to establish the agreement that the parties have made and to fix their rights and duties in accordance with that agreement. The courts must enforce a valid contract as it is made, unless there are grounds that bar its enforcement. Statutes prescribe and restrict the terms of a contract where the general
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Although the Conceptual Framework views the primary use of accounting numbers as decision making, we still see accounting measures used in contracts for management compensation. why do you think that companies use accounting numbers in management compensation contracts? (4 marks) The conceptual framework is a set of interrelated concepts that define the nature, purpose and broad content of the general-purpose financial report that provides information useful for the users to make and evaluate
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Sources of Funding, Funding Raising & Disclosure Promoters and Pre-registration contracts • Who is a promoter? o Whaley Bridge Calico Printing v Green – court has recognised the term promoter as not a term of law but rather one of business. o Emma Silver Mining v Lewis & Son – see Twycross case – used in connection with companies involves the idea of exertion for the purpose of getting up and starting a company and also the idea of some duty towards the company. o Jubilee Cotton Mills v Lewis
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