the actual price of the item was RM45‚ not RM15. Mary instead that Maidon Bhd had to sell the VCD to her at RM15 as there was a contract between them. Advise both parties. Answer: Issue 1) Whether there is contract between Mary and Maidon Bhd. Principle To identify whether there is a contract in this cases‚ first of all‚ we need to looked at is whether there is an agreement between Mary and Maidon Bhd. Agreement should be occur if there is a proposal or acceptance. According to section 2(a) of
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instrument has been received as conditional payment and the condition on which it was received has not been fulfilled by reason of the dishonor of the instrument or otherwise." Features of the unpaid seller 1. He must sell goods on the cash basis and must be unpaid. 2. If he sells on credit basis‚ he is not an unpaid seller during the period of credit. 3. The term of credit has expired and the price has not been paid to him. 4. He must be unpaid wholly or partially. If a part of price remains
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Derivatives ------------------------------------------------- ------------------------------------------------- DERIVATIVES Definition: A derivative is a complicated financial contract that gets (derives) its value from an underlying asset. It is an agreement between a buyer and a seller that says how much the price of the asset will change over a specific period of time. The underlying asset can be a commodity‚ such as oil‚ gasoline or gold. Many derivatives are based on stocks or bonds. Others use
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Malaysian Contracts Act 1950 (http://www.agc.gov.my/) law of Malaysia/numerical table of laws/Act 1136 Contents: 1. Introduction 2. Contracts and Agreements 3. Offer/Proposal Objectives: Successful students should be able to:- 1. Explain the general idea of law of contract; 2. Distinguish between a contract and an agreement; 3. Outline the elements of a contract; 4. Distinguish the proposal and invitation to treat; 5. Describe the elements of a valid offer; and 6. Explain how
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legal relations means that the agreements between parties will be legally binding and enforceable by law if things do not go as planned. Traditionally‚ a formal contract is formed (as mentioned before) by a way of a deed where all elements such as offer and acceptance‚ consideration and certainty are involved‚ and therefore‚ there is no doubt that there is legal intent. Other less formal agreements can be into three categories which are social and domestic agreements (i.e. a father promises his son
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documents. He needs to ensure that the employment deal that he had discussed with Walt Sawyer was in fact what the contract spelled out and that all information that has been exchanged informally‚ has been taken into consideration on the formal agreement.. In the “Open Items” email sent by Spellman to Sawyer‚ the only topic that wasn’t explained in further detail was Spellman’s base salary; further in-detail clarification was provided for bonuses‚ equity‚ and equity pool. Spellman stated that he
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rule 3. Section 21 SGA provides: (1) Subject to this Act‚ where goods are sold by a person who is not their owner‚ and who does not sell them under the authority or with the consent of the owner‚ the buyer acquires no better title to the goods than the seller had‚ unless the owner of the goods is by his conduct precluded from denying the seller’s authority to sell. (2) Nothing in this Act affects - (a) the provisions of the Factors Act or any enactment enabling the apparent owner of goods to dispose
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action is the participants’ inability to cooperate‚ contribute‚ and make agreements efficiently. For example‚ collective action is analogous with the idea of perfect competition in that all producers of an identical good seek to sell their good at a higher price. Because the goods are identical‚ however‚ firms must charge the same price‚ and no economic profit is made. If all the firms in the market could make an agreement to uniformly cut output and charge an equally higher price‚ they would all
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are the advantages of having a distributorship agreement over sales agent agreement. 1) There is not responsibility that needs to be shared between the distributor and Gerard. And in this selling the sunglasses in France becomes the core responsibility of the distributor and thus‚ Gerard can be free from the duties of selling the products in France and can concentrate over the business in Canada. 2) Distributors should be more motivated to sell the stock that they purchase from the Raynonplus
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com/doc/22097656/money-market-instruments-in-Pakistan-term-paper Treasury Bill Treasury Bill is basically a short-term securities issued by the Government. Treasury bills (T-bills) are debt obligations of the U.S. Government that mature in one year or less. The U.S. Treasury regularly sells bills with maturities of three months (13 weeks)‚ six months (26 weeks)‚ and one year (52 weeks). All bills are sold at discount so that the return to the investor is the difference between the purchase price of the bill and its face or par value
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