Big Issue: 1. Is there a contract between Horatio and Mogul Oil Co? 2. Is the contract frustrated? Analysis： 1. Is there a contract between Horatio and Mogul Oil Co? Yes‚ there is‚ because Mogul entered contract with Horatio for 5000 liters at 1 dollar per liter. 2. Is the contract frustrated? 1) Is the contract discharged by performance? Yes‚ the performance is precise and to the letter. They entered a contract and Mogul agreed Horatio to supply the clear number of oil with
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CENTENNIAL COLLEGE ACC 5008 Business and Company Law in Hong Kong Assignment Lai Mai Hung‚ Faderlouis 81200011 Wishful Wine Ltd and Massy Wine Ltd have a contract in this case‚ and it occur four situations that will discuss on each. “The two parties agree to have the wine bottled and to deliver them in crates of 12 bottles‚ by four installments.” which “crates of 12 bottles” and “by four installments” are constitute a condition. In the first
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TASK 3(P6‚ M2‚ D2) A. Explain the effects of legislation to protect consumer on contract for the sale of goods. The Sale of Goods Act 1979 is an Act of the Parliament of the United Kingdom which regulate contract in which supplies are bought and sold. The Act consolidates the Sale of Goods Act 1893 and following legislation‚ which in twist consolidate the previous ordinary law. The Act lays downward a small number of required legal rules‚ but these limits are least: the size of the Act is concerned
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Chapter 10 Contract Performance‚ Breach‚ and Remedies N.B.: TYPE indicates that a question is new‚ modified‚ or unchanged‚ as follows. N A question new to this edition of the Test Bank. + A question modified from the previous edition of the Test Bank. = A question included in the previous edition of the Test Bank. true/false questions 1. A material fact is a fact that a reasonable person would consider important when determining his or her course of action. answer: T PAGES: Section
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[Type the document title] [Type the document subtitle] [Pick the date] [Type the company name] Khan QUESTION On 1 October‚ Buyer saw a courier van with a FOR SALE sign that included a telephone number and a price of "$25‚000 cash." That night‚ Buyer called Seller. Buyer explained that he would have to borrow the money but could get it next week. Seller provided his address to Buyer and told Buyer‚ "If you want the van‚ mail me a cheque for $5000. Pay the balance by1 November." Later
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specific performance and possible breach of contract. First we must understand the elements of specific performance then we can evaluate how they relate to each scenario. “In some situations‚ damages are an inadequate remedy for a breach of contract…equitable remedies include rescission and restitution‚ specific performance‚ and reformation” (Miller & Jentz‚ 2009). Specific performance is an equitable remedy that requests the promised act be performed per the contract. This is not to be confused with
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ESSENTIALS OF CONTRACT OF SALE DISTINGUISH BETWEEN SALE AND AGREEMENT TO SELL DOCUMENTS OF TITLE TO GOODS CONDITIONS AND WARRANTIES DOCTRINE OF CAVEAT EMPTOR RIGHTS OF UNPAID SELLER DELIVERY – RULES REGARDING DELIVERY SALE BY AUCTION Introduction Originally‚ the law relating to sale of goods was contained in Chapter VII of the Indian Contract Act‚ 1872. The same was repealed and re-enacted by the Sale of Goods Act‚ III of 1930. Definition (Section 4) A contract of sale
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defendants‚ John Vastola and Joan Vastola‚ entered into a contract for the sale of 136 East Cliff St.‚ Somerville. The final date was scheduled for June 15‚ 2004. On June 14‚ 2004‚ defendant’s real estate attorney wrote plaintiff’s attorney stating that defendants had elected not to proceed to convey title. Plaintiff’s contended that the difference in the financing costs they experience because of the delay should be presented as damages because the breach by defendants will result in a higher financing cost
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subjective test • Formation of a contract; offer‚ acceptance‚ withdrawal‚ acceptance with modification. Overview • Buyer’s and seller’s obligations • Buyer’s and seller’s remedies GENERAL STANDARDS OF PERFORMANCE • Both buyer and seller have to perform their obligations under the contract. • A party that fails to perform is in breach. • The party that does not breach has remedies. Fundamental Breach • When one party breaches‚ the other party may avoid the contract or make a demand for specific
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L.S. 4523 / 5523 Handout 9 Spring‚ 2013 1. What is a material breach of contract? There are three types of material breach. Anticipatory repudiation: A repudiation of contract obligations before they become due. Must be unequivocal (clear statements of a parties refusal to preform when performance is due.) No assurance (demanded writing exceeds 30 days) = repudiation. 1.) Waffling Seller: A seller who equivocates when asked if he’s going to deliver the goods as promised. 2.) Cash
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