Payment‚ similar to consideration‚ is one of the four elements of a contract. Consideration is something of value in a contract or agreement between two parties. Both parties must be providing something of value to the other party. It is an act or promise to do (or not to do) something in return for value and the value given is enforceable. All the law need is ‘valuable consideration ’. For example‚ if Jack has offered to pay S$10 for a hammer worth S$100‚ that is considered valuable consideration
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REMEDIES FOR BREACH OF CONTRACT Failure of buyer to take delivery Section 44 states that‚ when the seller is ready and willing to deliver the goods and requests the buyer to take delivery‚ and the buyer does not‚ within a reasonable time after such request‚ take delivery of the goods‚ he is liable to the seller for any loss occasioned by his neglect or refusal to take delivery‚ and also for a reasonable charge for the care and custody of the goods: Provided that nothing in this section shall
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What is the Social Contract Theory? Do I think that it can be defended? In this paper I will define what the Social Contract Theory is and how and why I think that it can be defended against its critics. Social Contract Theory is a contract that the people of a given area agree upon to live by. In this contract the people agree upon rules or laws to live by there is usually some sort of government that will help to enforce and administer these rules and/or laws. If people break or disobey
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BUS201 Contract and Agency Law Group Based Case Study Bai Kailin Q0806156 Question 1 A tender is also considered as an offer. Tenders refers to a process by which one can seek prices and terms for a particular project (such as a construction job in this case) to be carried out under a contract. The sealed offers themselves‚ including company information‚ a project outline‚ and a price quote‚ are known as tenders or bids. Since Beng Huay Construction Pte Ltd submitted the most competitive
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forward and futures contracts are traded on exchanges. b) Forward contracts are traded on exchanges‚ but futures contracts are not. c) Futures contracts are traded on exchanges‚ but forward contracts are not. d) Neither futures contracts nor forward contracts are traded on exchanges. 2. Which of the following is not true (circle one) a) Futures contracts nearly always last longer than forward contracts b) Futures contracts are standardized; forward
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Organizational Behavior Organizations have been described as groups of people who work interdependently toward some purpose. This definition clearly indicates that organizations are not buildings or pieces of machinery. Organizations are‚ indeed‚ people who interact to accomplish shared objectives. The study of organizational behavior (OB) and its affiliated subjects helps us understand what people think‚ feel and do in organizational settings. For managers and‚ realistically‚ all employees‚ this
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Bibliography: Textbook · Chen-Wishart‚ Mindy‚ Contract Law‚ (Oxford 2005) · H G Beale‚ WD Bishop & M P Furmston‚ Contract Cases and Materials‚ 4th ed. (Oxford 2005) Cases · Blackpool and Fylde Aero Club Ltd v Blackpool Borough Council [1990] · Foakes v Beer (1884) [1881-5] All ER Rep 106‚ House of Lords · Central London Property Trust
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Procedure: A suit was filed by Gary Porter in the Utah State Court against Fox with alleging breech of an implied-in-fact contract. The court granted summary judgment for Porter‚ which Fox later appealed to a state intermediate court. Issue: If sections of a contract are left out by mistake‚ is the contract still valid and enforceable? Were all the requirements of an implied-in-fact contract met? Holding: Yes Reasoning: The appellate court affirmed the lower courts summary judgment in favor of Porter
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FINAL DRAFT ON THE TOPIC OF IMPORTANCE OF INDEMNITY CONTRACTS INDEX S.No PARTICULARS PAGE.No 1. INTRODUCTION 5 2. ENFORCEMENT 8 3. INDEMNITY IN IPR 10 4. REASONS FOR NOT GIVING INDEMNITY IN IPR 12 5. FINDINGS 13 6. CONCLUSION 14 TITLE – IMPORTANCE OF INDEMNITY CONTRACTS OBJECTIVE- TO FIND OUT THE RELEVANCE OF INDEMNITY CONTRACTS IN INDIA AND OTHER COUNTRIES THROUGH PROPER ANALYSIS SCOPE – IT IS A DOCTRINAL RESEARCH INTRODUCTION The concept of indemnity is based on a contractual
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of Kim Taylor‚ the buyer from WCHI. I read the information over a few times and then tried to determine mine and the seller’s BATNA and reservation point. After reviewing the data‚ I determined that my BATNA would be to continue with an existing contract for more episodes of a current program‚ even though the ratings of the show were declining. The point where I would walk away with the negotiation would have been $8M for 7 runs per episode. On the other side of the table‚ I determined my counterparty’s
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