: Kolkata Reported in : (1903)30IndianAppeals114 Judge : Lord Macnaghten; Lord Davey; Lord Lindley; Sir Ford North; Sir Andrew Scoble; Sir Andrew Wilson, JJ. Decided On : Mar-04-1903 Acts : Indian Evidence Act, 1877 - Section 115; Indian Contract Act - Sections 41, 19, 64, 65 Appellant : Mohori Bibee and another Respondent : Dharmodas Ghose Advocate for Respondent : W.W. Box, Adv. Advocate for Appellant : Watkins; Lempriere, Advs. Judgment: SIR FORD NORTH, J. On July
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theme Revenue Recognition R evenue is usually the largest single item in financial statements, and the issues involving revenue recognition are among the most important and difficult ones that standardsetters and accountants face. In recent years, concerns related to the recognition of revenue in accordance with Accounting Standards have heightened significantly. Quite often, companies end up tweaking the Revenue numbers, besides some other reasons. Recording revenue improperly is also a
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Re: Alan and Bart: Right to Reward STATEMENT OF FACTS Alan and Bart live in Boring, Oregon. Alan finds an object that belongs to Bart before Bart offers a reward for the return of the object. Under contract law, a reward offer is binding, so that the offeror of a reward must pay a person who completed performance for the offered reward. A person has a responsibility to return lost personal property to its rightful owner. ISSUE The case turns upon the question of whether Alan has the right to
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Minors' Capacity To Contract One of the elements constituting a valid contract is that the parties entering the contract are those who have the competency to contract. This is based on section 10 (1) of the Contract Act 1950 which states: “All agreements are contracted if they are made by the free consent of parties competent to contact, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void.” Competency refers to the capacity of being an adult
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parties have a contract? I do not believe the parties had a contract at any point. Although the e-mail showed the intent to contract, it was not formed as a contract and neither party signed in agreement. 2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? The fact that an oral agreement was reached at a meeting and an e-mail stating the intent to contract was sent may weigh in favor for Chou but the fact that a written contract was never
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LAW 3112 CASE REVIEW CASE: PAYNE v. CAVE 1789 SUBMITTED TO: Dr. Siti Salwani Razali SUBMITTED BY Abdullah Md Mohabbat 1112221 Abdul Wasey Faheem 1119949 (Section : 3) FACTS OF THE CASE The defendant had made the highest bid in an auction. The defendant had withdrawn his offer before the auctioneer had knocked his hammer. The plaintiff’s counsel opened the case with as: the goods were put up in one lot at an auction. There were several bidders of which the defendant
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Contract Formation Author: Jason Dorman Business Law Professor Riggs 11-24-2013 A contract must have certain elements to be considered a contract. However, there are also elements that exist that will negate a contract as well. Fraud, undue influence and duress are all elements that will negate a contract. When a contract is breached or negated one party can collect damages or seek equitable remedies. The common law doctrine of election of remedies prevents individuals
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are, first you need to understanding and sensitive of the foreign law, culture, politics, formal and informal power structures and decision making approaches. This applies whether you are forming a joint venture with an Asian company, or enforcing contracts with European suppliers. 2. What are some practical considerations of taking legal action against a foreign business partner based in another country? Some practical things to consider are, that the law of the other country is the most
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NONDISCLOSURE AGREEMENT This Nondisclosure Agreement (this "Agreement") is made effective as of ________________ (the "Effective Date"), by and between Mobile Photo Booth, LLC (the "Owner"), of PO Box 22408, Eagan, Minnesota 55122, and ___________________________________ (the "Recipient"), of _________________________, _________________________, _________________________ __________. The Owner is Renting and Providing Photo Booth Services. The Recipient is Providing Contracting Services to
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INTRODUCTION Frustration of contract is employed when performance of the obligations by any of the parties becomes impossible due to external factors without any fault of any of the parties. It must be remembered that it applies to those cases of subsequent impossibility and not to those which are impossible right from the outset. The doctrine of frustration was devised for a different class of cases of contracts in which the circumstances so occur that the execution of the contract as required by the terms
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