Agency (1) AGENCY RELATIONSHIP? (2) AUTHORITY? Agency is an agreement‚ express or implied‚ by which the principal entrusts to the agent‚ the management of the business; to be transacted in his name‚ or on his account‚ and by which the agent assumes to do the business and to render an account of it. Agency involves: Principal‚ who passes authority to Agent to effect the legal relations between the principal Third party‚ acted with principal through the agent Section 135 CA (Definition of Agent)
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Topic 3: Breach in contract 1) Breach of contract: Spanish Contract Law provides a broad notion of breach of contract for any behavior that departs from the specified behavior in the contract in any way (time‚ quality‚ substance‚ etc.) or is not specially justified on legal grounds (actions forbidden by the government are not breaches since they are justified on a legal ground). The general benchmark to determine breach is the contract agreed by the parties themselves‚ and not external notions
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3. Contract Law “Is My Agreement an Enforceable Contract?” The Law of Contract involves answering 4 questions: (1) Is my agreement an enforceable contract? Are all of the elements of a contract present. (2) If so‚ what does it require me (and the other party) to do? - What “promises” have become terms of the contract. (3) Can I get out of it (without paying some form of penalty)? - Was the formation of the contract defective in some way (ie were there any ‘vitiating elements’ present)
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Unit 4 Assignment: Problem 1 & 2 Name: - Course Number: - Section Number: - Unit Number: - 4 Date: - Problem 1 Suppose that the U.S. Department of Agriculture (USDA) administers the price floor for cheese‚ set at $0.17 per pound of cheese. (In real life‚ the actual price floor was officially set at $16.10 per hundredweight of cheese. One hundredweight is 100 pounds.) At that price‚ according to data from the USDA‚ the quantity of cheese produced in 2009 by U.S. producers
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Responses to Question 1 and 4 on “Two Ways of Seeing a River” on page 481 of Model for Writers 1. The method of organization that Twain uses in this selection is time order because he described the way he saw and experienced the river in a sequence as they occurred. In addition‚ he stared an essay by telling an event in the past and ended it in the present. That is the time order organization. He might have used the comparison and contrast method as the alternative methods because he compared
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Business Law Tutorial 11 1. [ Refer notes - creation of agency ] 2. [ Refer notes - Duties of Agent to Principal ] 3. [ Refer notes - Duties of Principal to his Agent ] 4. 4 remedies available: Principal may repudiate the contract - Section 168 Contracts Act‚ 1950 Principal may recover the bribe from agent - Section 169 Contracts Act‚ 1950 Principal may refuse to pay commission to Agent Principal may dismiss agent for breach of duty 5. [ Refer notes - Termination
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UNIT 6 6.0 AGENCY 6.1 AN AGENT An agent is one who acts on behalf of another called the principal‚ with the express or implied authority of that person. Hence an agent incurs neither rights nor liabilities on contracts made on behalf of the principal. Also an agent need not be of full contractual capacity meaning that even a minor could be appointed as such‚ even though he principal has to be of full contractual capacity. 6.2 TYPES OF AGENTS Universal: appointed to handle the
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Question 1 “Australia’s legal system is based on the English legal system.” To what extent is this statement correct? Discuss. [10 marks] Word limit = 750 Question 2 Discuss the importance of the case of Central London Property Trust Ltd v High Trees House Ltd [1947] KB 130 [20 marks] Word limit = 1000 Question 3 Simon owns two motor cars. Both cars are the same make and model. Both cars are black. However one of the cars has had its motor replaced with a diesel motor rather than
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Hidayatullah National Law University‚ Uparawara‚ Raipur (C.G.)‚ 2010 LEGAL METHOD AND INTRODUCTION TO LEGAL SYSTEM Semester – I B.A.LL.B. (Hons.) Ms. Shradha B. Rajput Mr. Azim B. Pathan INTRODUCTION OF THE COURSE: This course is the window to see the law and it is the beginning of law students’ transformation into lawyers. It teaches the students to engage with legal texts‚ to think critically about the law‚ and most importantly
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Decrease in trades and other payables + provisions (inclu NCL) Cash flow statement reports amount as - 6129 This includes the $714 CSR adj that we made in calculating NPAT (which doesn’t appear in the actual reported NPAT) So this figure needs to exclude the $714 otherwise we will double counting it The amount of decrease should be -6129 + 714 = -$5415 The 714 represents a loss that would reduce decrease in the payable that is a negative cash flow and reason why we making adjustment if
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