shareholders * Lord Macnaghten pointed out that in an earlier case: Re Baglan Hall Colliery Co 1870 Giffard LJ had said that it was “the policy of the Companies Act” to enable business people to incorporate their businesses and so avoid incurring further personal liability. | The facts of this case were that the owner of a business sold it to a company he had formed‚ in return for fully paid-up shares to himself and members of his family‚ and secured debentures. When the company went into liquidation
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takes longer and cost more because the arbitrator needs time to hear from both parties‚ analyze facts‚ examine evidence and determine a ruling that is legally binding. Usually parties who decide to use the mediation process will continue to conduct business with each other; typically parties who use arbitration
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What is a contract? A contract is an agreement enforceable by law. 2. What is an agreement? An agreement is an arrangement between parties that creates legal obligations between them. Generally an agreement is said to be arrived at when an offer or proposal made by one person is accepted by another‚ with the intention of creating mutual obligations between them. 5. What are the essential features of a contract? Minimum two parties :- Atleast two parties are needed to enter into a contact
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a commercial building‚ damages of $1000 are payable. The completion is delayed by 20 days due to the fault of the contractor. How much can the innocent party claim if the actual loss suffered is $22‚000? Do you think generally‚ it is wise for a business to always have a liquidated damages clause? 2. At Your Service Pte Ltd is a big company which provides various travel related services‚ including overseas tour packages which are designed in-house. Tom‚ a customer‚ had booked a special in-house
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Insurance is a means for persons and businesses to protect themselves against the risk of loss. An individual who purchases automobile insurance may be reimbursed by the insurer if his or her car is stolen. Insurance is crucial to personal‚ business‚ and estate planning. Insurance is defined as a contract whereby one party undertakes to identify another against loss‚ damage or liability arising from an unknown event. It is a means of transferring and distributing risk of loss. The risk of loss
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org/uk/cases/UKHL/1884/1.htmlAtlas Express v Kafco (Importers & Distributors ) Ltd (1989) QB 833 http://en.wikipedia.org/wiki/Atlas_Express_Ltd_v_KafcoAmalgamated Investment Co v Texas Bank (1982) Q.B http://www.bailii.org/ew/cases/EWCA/Civ/1965/3.htmlBusiness Law‚ by Robert W. EmersonPublished by Barron ’s Educational Series (2004)
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30th May Thursday 11-12 (replacement) 1b) Negligence misrep – For this‚ the common law negligent misrep is followed- i.e. that is duty of care‚ “special relationship” ‚ breach of standard of care‚ causation‚ and remoteness. 1c) Duress is pressure exerted by one person to coerce (influence someone to do smth) another to contract on particular terms. The main types are duress of the person “actual or threatened violence or unlawful imprisonment”‚ duress of goods “wrongful detaining‚ damaging or
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2. State whether the following provisions in a note impair or preclude negotiability‚ the instrument in each instance being otherwise in proper form. Answer each statement with either “Negotiable” or Nonnegotiable” and explain why. A. A note signed by Henry Brown in the trade name of the Quality Store. Nonnegotiable‚ no fixed amount. B. A note for $850‚ payable to the order of TV Products Company‚ “If‚ but only if‚ the color television set for which this note is given proves entirely satisfactory
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However James informed him that he has sold the aluminium BMW lightweight motorbike and now he has only a racing motorbike available for sale for RM220‚000.00. Advise Dahari. (Total: 20 marks) Question 1 is about the law contract it entails issues regarding an invitation to treat (ITT)‚ the fact shows that James has placed an advertisement at the Star newspaper for the sale of his BMW motorbike. This is advertisement is not an offer‚ it had similar with the cases of
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‘grade super A+’ Arabica coffee imported from Antioquia province in Colombia – I will pay you $3.00 per pound. The coffee should be delivered to my place of business in Panorama City on or before 12 March 2008. I will pay the full price for the coffee by 25 March 2008.” On 5 February 2008 Luis‚ who owned Colombia Coffee‚ Inc. -- a business that imported coffee from South America to the United States -- sent an e-mail to Gerald that said: “I would like to accept your offer – I will provide you
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