Module 01 - Law of Contract Coverage of: • Law of Contract: Definition, Essentials • Types of Contracts • Offer – Definition & Essentials • Acceptance - Definition & Essentials • Consideration – Definition & Essentials, Exceptions • Capacity of Parties • Free Consent • Quasi Contract • Legality of Object • Performance of Contract – Termination of Contract – Remedies for Breach of Contract Case Studies 1 The Indian Contract Act, 1872 The Indian Contract Act consists
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elements required for formation a valid contract 3 1. Agreement 3 1.1 Offer 3 1.2 Acceptance 4 2. Consideration 5 2.1 Adequacy and Sufficiency of consideration 5 2.2 Privity of contract 5 3. Intention to create legal relations 6 3.1 Domestic arrangement 6 3.2 Commercial agreement 6 3.3 Capacity 7 PART 2 – The impact of different types of contract 8 1. Verbal contract 8 2. Written contract 8 The parol evidence rule 8 3. Implied contract 9 PART 3 – The effect and meaning
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Question 3(c) 7 Question 4(a) 8 Question 4(b) 10 References 11 Question 1(a) The issues arise in the above situation is whether Ahmad have any contract made with Suria Supermarket. The law consist in the above situation is Invitation to treat (ITT). As you known, invitation to treat does not mean amount to an offer. Section 2(a) of the Contract Act 1950 defined as something which is capable of being converted into an agreement by its acceptance. There is a different between Invitations to treat
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The good aspects of relying on precedent to decide current cases is that people will know what can happen if it is same type of case. It will lead to same outcome to all, with no exceptions. The bad aspects of relying on precedent are that if there is a wrong precedent it will keep for a very long time, making it very rigid and with no exceptions. In the case I chose as a landmark in previous assignment: Gideon vs. Wainwright. Gideon was an indigent and he was not given a counsel appointed
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Topic An Assignment on Aspects of Contract and Negligence for Business ------------------------------------------------- ------------------------------------------------- Submitted By: ------------------------------------------------- Student ID… ------------------------------------------------- Module Name: ------------------------------------------------- Group: ……. Date of Submission: …………… Table of Contents LO1 A valid contract in a Business Context 3 1.1 The importance
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Solutions for End-of-Chapter Questions and Problems: Chapter Two 1. What are the differences between community banks, regional banks, and money-center banks? Contrast the business activities, location, and markets of each of these bank groups. Community banks typically have assets under $1 billion and serve consumer and small business customers in local markets. In 2006, 93.4 percent of the banks in the United States were classified as community banks. However, these banks held only 12.4
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1. Introduction: In a transaction of sale it is not possible to avoid credit sales. In credit sales there is a risk of a debtor not paying the price of the goods even after the credit period is over. The seller of the goods therefore must possess some rights which he can use to secure payment of the price. If the recovery of the price is not possible due to the reason of bankruptcy of the buyer, he must have some other remedies. The Sale of Goods Act has made elaborate provisions regarding the rights
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system of jurisprudence. d. none of the above. 2. Our society has laws for which of the following reasons: a. to provide stability and predictability in personal and business affairs. b. to provide society with guidance as to what acts are considered legally http://www.mangahere.co/manga/fairy_tail/v38/c384/right and legally wrong. c. to provide penalties and sanctions for wrongful acts. d. all of the above. 3. Common law rules develop from: a. statutes
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I would like to start by defining equity according to the Webster’s Dictionary as ‘a body of legal doctrines and rules developed to enlarge, supplement, or override a narrow rigid system of law’ (Marriam-Webster.com). Also maxims is defined also by Webster’s Dictionary as ‘a general truth, fundamental principle, or rule of conduct’ (Marriam-Webster.com). Therefore the maxims of equity may fairly be described as a set of general principles which are said to govern the way in which equity operates
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Students Posts 41 Pages Keller Class in this thread we will seek to address essentially corporate citizenship. In other words, when the necessity from help arrives and your organization is the only organization that has what can deliver the society in which you operate in from peril, what do you do? In your discussion of the Bayer problem you will find yourself balancing and wondering, how do you overcome some of the barriers of doing the right thing from the corporate perspective? In the fall of 2001
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