1. What are the four elements of a valid contract? A contract is an "agreement between parties‚ with terms and conditions that describe the agreement that constitutes a legal obligation" (All Business). A valid contract requires four elements and these are: a. Mutual agreement there must be a meeting of the minds between parties. There should be an offer and an acceptance. There should be an agreement to enter into the contract b. Consideration - meaning that "every party is conferring a
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Important Laws That Affect Your Business Introduction: In the present world business plays an important role in every sphere of life. Business determines one’s life style‚ standard of living‚ education and even cultural standard. So to lead a bette-r life we need to understand business and study business. Business is dynamic – always changing. Coping with both predictable and unpredictable events can be easier‚ more efficient‚ and less traumatic if we understand business. Study of business will help
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Business Law I Assignment 3 Spring Term B BU 206-8A Instructor Problem 8-1 page 232 1). Consideration. Daniel‚ a recent college graduate‚ is on his way home for the Christmas holidays from his new job. He gets caught in a snowstorm and is taken in by an elderly couple‚ who provide him with food and shelter. After the snowplows have cleared the road‚ Daniel proceeds home. Daniel’s father‚ Fred‚ is most appreciative of the elderly couple’s action and in a letter promises to pay them $500
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Top of Form Exam 1 Return to Assessment List Comments: Keep up the good work! Mrs. Retchko Part 1 of 1 - 100.0/ 100.0 Points Question 1 of 20 5.0/ 5.0 Points Estimate the answer from the table or graph. The number of calories in different food items are given below. If Jeanne had a serving of salad and two slices of bread for lunch‚ what was her calorie intake? A. 105 calories B. 135 calories C. 180 calories D. 210 calories Question 2 of 20 5.0/ 5.0 Points Use inductive reasoning
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Business and Consumer Law Final Exam Notes Chapter 5: An Introduction to Contracts Contract Law: A deliberate and complete agreement between two or more competent persons in writing supported by mutual consideration‚ to perform an act. It is enforceable in court. Agreement: composed of an offer to enter into a contract and acceptance of the contract. Complete: the agreement must be certain. Deliberate: both parties must want to enter into a contractual relationship. Voluntary: The agreement must
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Introduction In the Law of Contract the phrase “mistake” & “Misrepresentation” is applied when one or both parties of a contract act under a false or mistaken understanding. Mistake can be defined by Pendleton ‚ Vickery (1998)‚ [1] as; ➢ A misunderstanding regarding a fact‚ causing one or more parties to hold disagreeing beliefs about the foundation of a contract. Mistakes can be made in the form of a contracts subject matter or as a mistake of identity. There are 3 different types of mistake
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a judge‚ will most likely apply the statute. A state constitution is supreme within the state’s borders. True A state law that conflicts with the U.S. Constitution will be deemed unconstitutional. TRUE A substantive law creates or defines legal rights and obligations. True As a judge‚ Jay applies common law rules. These rules develop from
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theory from the course and evidence from the case. Failure to attempt to integrate theory will lead to severe mark reduction or failure. • Referencing of all non-original material is essential. You will lose marks for poor referencing. The Faculty of Business and Economics Q Manual should be used as a guide. This is available in the library‚ for sale in the bookshop‚ and on the web. The Q Manual should also be used as a guide for correct presentation of written material. • Check your completed work for
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August 31‚ 2012—LECTURE 1 · What is ecology? o interactions of organisms with each other and with their environment § biotic environment § abiotic environment · why is ecology important? o Context for evolution o Management of resources o Evaluation of human impacts Levels of study (ECOLOGY) · Organismal: individual interactions with their environment · Population: factors regulating population growth rates and population size · Community: interactions
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DIPLOMA IN BUSINESS ADMINISTRATION PRINCIPLES OF BUSINESS LAW (BA333) ASSIGNMENT TERM ONE 2006 Instruction: • Answer ALL questions. • Marks will be awarded for good presentation and thoroughness in your approach. • NO marks will be awarded for the entire assignment if any part of it is found to be copied directly from printed materials or from another student. • Complete this cover sheet and attach it to your assignment. Student declaration: I declare that: I understand what
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