Case Brief LAW/531 October 26‚ 2011 Facts In the case Zehmer v. Lucy‚ Zehmer created an agreement that Lucy would sell his farm for 50‚000 dollars. While at the bar drinking Zehmer had his wife sign the contract. Lucy tried to close the deal with a five dollar deposit and Zehmer refused it stating the contract was a joke. Lucy is suing Zehmer for breach of contract. Issues Is the contract between Zehmer and Lucy valid
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(with no disadvantage to others) that is un-owned a. 2) The voluntary transfer of an object to someone else. (an agreement is setup) b. You sell someone your car with an agreement of monthly payments. 3) the rectification of past injustices in the attainment or transfer of holdings. c. You agree to sell your car to someone with an agreement of monthly payments setup. The purchaser fails to pay the payments so you take back the car. You are considered morally allowed
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valid agreement between Joyce and Rashid. The third issue that need to be identifies is whether the revocation of proposal made by Rashid is valid. The fourth issue will be the effect of a contract entered into with a bankrupt and what kind of remedies were there have for such contracts. Explanation of relevant law According to the Contracts Act 1950‚ under section 2(h)‚ an agreement enforceable by law is a contract. Furthermore‚ S. 2(h) of the Contracts Act 1950 states that any agreement which
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force as at 31st December‚ 2000. 3 8 Sale of Goods CHAPTER 261 SALE OF GOODS ARRANGEMENT OF SECTIONS PART I Preliminary 1. 2. Short title. Interpretation. PART II Formation of the Contract Contract of Sale 3. 4. Sale and agreement to sell. Capacity to buy and sell. Formalities of the Contract 5. 6. Contract of sale‚ how made. Contract of sale for one hundred dollars and upwards. Subject Matter of Contract 7. 8. Existing or future goods. Goods which have perished. [CAP. 261 3 THE SUBSTANTIVE
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Consideration Building on this‚ in order to prove that a contract is legally binding 5 things need to be proven: 1. That an agreement has been reached. This is usually done by demonstrating that one of the parties has made an offer which the other accepted. 2. The agreement has been expressed in a form that is sufficiently certain for the court to enforce. 3. That the agreement is supported by consideration. (Possibly not needed if there is estoppel). 4. That the contract is only valid if it
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Tutor: Pn. Nadia Omar Case Summary : AHT Properties Sdn. Bhd. & Ors v Tan Yee Hee & Ors [2010] MLJU 1597 The plaintiffs are suing the 3rd to 11th defendants who are shareholders in Syarikat Wakuba Sdn. Bhd. for specific performance under an agreement to purchase all shares of the 2nd defendant and for damages and other reliefs. The 1st defendant is sued because he is holding a piece of land held under Lahad Datu Provisional Lease on trust for the 2nd defendant. A Power of Attorney Kota Kinabalu
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only on the settlement date. Trading in Futures Typically‚ futures contracts are divided into two groups: -commodity futures contracts -financial futures contracts Swap contract—an agreement by two parties to exchange or swap specified cash flows at specified intervals in the future. Examples: Currency Swaps Two firms agree to exchange a specific amount of one currency for a specific amount of another
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defining the term law and contract law. A law can be stated as “ A rule of civil conduct prescribed by the supreme power in a state‚ commanding what is right‚ and prohibiting what is wrong” (blackstone). Contract law can be defined as the written agreement which binds two people with certain rules and regulations as decided by both the parties and mentioned in the contract. The facts of the case Amal is a close friend of bushra who wanted to gift her beautiful present. They went to a Reema Jewelers
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CONSIDERATION Definition Section 2 (d) When‚ at the desire of the promisor‚ the promisee or any other person has done or abstained from doing‚ or does or abstains from doing‚ or promises to do or to abstain from doing‚ something‚ such act or abstinence or promise is called a consideration for the promise; In short‚ consideration means that a promisee must give something in return for the promise. It may consist of a conduct‚ or a price to be paid in return for the promise made by‚ or the conduct
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intention to create legal relations. Homer enquired about the price of corn grains from KK‚ whom quoted $0.50/kg. This is a provision of information for information regarding price of the corn grains if KK intended to sell. Also‚ KK’s response had no intention to get into an agreement upon providing the information hence statement is not an offer: Harvey V Facey - Therefore‚ when Homer mentioned “sounds like a
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