rendered or to be rendered, (C) for a policy of insurance issued or to be issued, (D) for a secondary obligation incurred or to be incurred, (E) for energy provided or to be provided, (F) for the use or hire of a vessel under a charter or other contract, (G) arising out of the use of a credit or charge card or information contained on or for use with the card, or (H) as winnings in a lottery or other game of chance operated or sponsored by a State, governmental unit of a State, or person licensed
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is conditioned on the other party showing up willing to perform 3) Condition Subsequent – a future event, the occurrence of which discharges the duty to perform 4) Express Condition a) The condition is explicitly stated in the contract b) The condition must be fully and completely satisfied 5) Implied Condition a) Implied by the circumstances II) Discharge of Contractual Duties A) By Performance or Tender of Performance 1) Performance – the
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Each state has its own licensing requirements for agents and brokers but the Graham-Leach-Bliley Act (GLB) required more uniform laws in order to allow the agents and brokers to work in different states. General requirements to be licensed include that the individual concerned be above 18 years old. He must not be convicted and he must have passed an authorized examination. In addition, any life insurance agents who sell variable annuities or variable life insurance must also be licensed by the Securities
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Valid Contract 1. Offer and Acceptance. In order to create a valid contract, there must be a 'lawful offer' by one party and 'lawful acceptance' of the same by the other party. 2. Intention to Create Legal Relationship. In case, there is no such intention on the part of parties, there is no contract. Agreements of social or domestic nature do not contemplate legal relations. 3. Lawful Consideration:Consideration has been defined in various ways. According to Blackstone,"Consideration
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Week 3 Learning Team Assignment – Understanding Contract Law, Risk and Opportunities Cynthia M. Cervantes Myphuong Le Karl Limpin Laura Semmler Cezner Velez Business Law 531 University of Phoenix Dr. Maurice Rosano, MBAM, JD May 30, 2009 Contract Law in Private Enterprise Discuss the importance of contract law to the private market system. How does Contract law provides flexibility and precision in business dealings? Response: One of the most common legal transactions
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Ratification: an agent secures a contract on behalf of the principle and the principle agrees to it. Buy custom Law of Agency: Amber and Ashgan Case Study Analysis essay The law of agency applies to both the two individuals in the case given that they possess an agent-principal type of relationship. Thus, the law of agency between the two is narrowed-down to the duties of the agent in respect to their respective principals. It should be noted Ashgan, the personal assistant, is the agent while
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Contract Analysis BUSI 561 – Spring D Emerald Jones I would continue doing business with Marshall as long as we come to an agreement on a new contract. This understanding will provide us clarity on this partnership we are going to continue to have while doing business. Marshall is a good person and I would like to see his company continue to flourish as well as his spirituality. However if Marshall does not agree with the terms of a new contract business between us will cease. There are
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Rhonda Paul 7/5/2010 Professor Melchiori Week 1 Assignment Reading: Chapter 9: Traditional and E-Commerce Contracts Chapter 10: Agreement Chapter 11: Consideration and Equity Chapter 13: Genuineness of Assent Assignment: The following end of Chapter questions are to be written up and the answers in the Dropbox entitled Week 1: Assignment. The ideal answer will identify the applicable issue, propose a solution and state a justification. Answers should be 1-2 paragraphs in length. End
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legalmatch.com/law-library/article/uniform-commercial-code-lawyers.html). The UCC is most often used to resolve contract disputes for the sale of goods (http://www.legalmatch.com/law-library/article/uniform-commercial-code-lawyers.html). When a sale of goods dispute arises, the UCC is the body of law that governs, however, a sale of goods dispute is governed only by Article 2 of the UCC and every other article in the UCC governs a different type of transaction (http://www.legalmatch.com/law-library/article/uniform-commercial-code-lawyers
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This paper presents a case study seeking to discuss various business laws using the case of car sales and negotiations and the laws surrounding that business. In this paper, we will consider the case of Josh Harty, who wishes to purchase a new car. He chooses to go to a local dealer in motor vehicles. He states clearly to the salesperson that he has a specific car he wants, the 3.2 liter V-6. He chooses it over the 3.9 liter one because he has issues about the fuel economy of the 3.9 liter engine
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