#23 Manila Insurance v. sps Amurao GR 179628 1-16-2013 J. Del Castillo Suretyship - liability of surety Facts: Sps. Amurao (Creditor/Obligee) entered into a Construction Contract Agreement (CCA) w/ Aegean Construction Devt Corp (Debtor/Obligor) for the construction of a 6-storey commercial bldg. To guarantee its full & faithful compliance w/the terms & conditions of the CCA, Aegean posted a performance bond by Manila Insurance Co. (Surety) & Intra Strata Assurance Corp. (Surety). Due to failure
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Statutory Interpretation (not examinable) • Literal Rule There are three (3) principles of law that can be applied to interpret the law, where the Literal rule can be applied and if absurdity exist either the Golden or the Mischief rule can be used. The Literal rule considers the law as what it says where the natural meaning of the words are used for interpretation; this can be depicted in the case Regina v Barrymore where the defendant was charged with the offence of wounding with
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the following. 1. What elements are necessary for a valid contract to exist? Define what constitutes a "valid offer." Evaluate each proposal and discuss whether each of the offers constitutes a valid offer. Why or why not? 2. Each proposal involves a different country. What are the particular concerns for Gloria in doing business in other countries? What contract provisions does she need to include in any business contract in order to protect her business? 3. How can Gloria continue
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A contract is defined as a legally binding agreement made between two or more persons. It is necessary that certain elements be fulfilled for a contract to be legally enforceable, that is, an unequivocal offer and acceptance between the contracting parties, applicable consideration, intention to create legal relations and sufficient capacity. The first issue to be resolved is whether the doctrine of frustration would discharge the contract between Edmund and Fiona and secondly, whether any monies
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In the negotiation role-play, I was Mrs. Gibson. My counterpart, Mr. Parker, and I reached a final price of $25K for the parcel of land. At the end of the negotiation, and even after the class discussions, both he and I were satisfied by the result of the negotiation. Opening and working together rather than against each other I tried to start the negotiation even before actually talking about the topic at hand. Per the advice of Wheeler (pg 145-146), I wanted this negotiation to be friendly
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Terms of Service The following conditions apply to the use of the login2 service. Acceptance of Terms By using login2.me in any way you are agreeing to comply with these terms, which we may update without notice and encourage you to check back here at any time. To use login2.me, you must be legally competent to enter a binding agreement. General terms You accept to waive any claim related to the inclusion, placement, exclusion, or removal of any account details in the login2.me
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The members are deemed to have agreed that they will observe all the provisions in the articles. Thus, effectively, the articles of association is a statutory contract between the company and members, and between the members themselves. Section 33(1) is a codification of the common law principle. The articles of association is a contract between the company and its members. This was held by the courts in Hickman v Kent of Romney Marsh Sheep Breeders’ Association (1915) and Quins & Axtens Ltd
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markets, they are known as clearing houses. CCPs perform two so-called clearing functions: • • • Once a transaction has been agreed between two parties and registered with a CCP, the CCP inserts itself into the transaction (what was one contract becomes two) to become the buyer to every seller and the seller to every buyer. This is called Novation.
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five-thousand dollars. He then tells Dave that a contract would be arriving in the mail and the offer is open for seven days. The contract that Peter has sent to Dave is a unilateral contract (promise for an act) (Clarkson, Miller & Cross, 2012). Peter has made an offer to Dave. Dave can accept the offer by signing and returning the contract to Peter when it arrives. When Dave receives the contract he signs it and mails it back to Peter. The signing of the contract by Dave has put Peter and Dave into an agreement
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“Federal policy strongly recommends arbitration and mediation.” The Supreme Court has stated “Any doubts concerning the scope of arbitrable issues, should be resolved in favor of arbitration, whether the problem at hand is to be construed that the contract language in itself or an allegation of waiver. Delay or like defense to arbitrability.” In the second case I researched, Dean Witter Reynolds v. Byrd, 470 U.S. 213, 218, 84 L. Ed. 2d 158, 105 S. Ct. 1238 (1985), The court stated “The Arbitration
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