Role and Function of Law Law/ 421 January 11‚ 2013 Professor Gary Matano The law plays an important role in business and society. The law imposes rules and regulation that carry out the moral standards of business and society. The laws help maintain the policies and ethical conduct of individuals‚ groups‚ and corporations run smoothly. In business law can build goodwill between merchants and consumers. This should be considered in commercial
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Title Course Instructor Date Women’s Progression Through Employment and Labor Laws The United States of America is known as the land of the free and home of the brave. Americans are privileged to live in a society where there are laws created and continuously enforced to ensure the protection of the citizens’ rights. Law-breakers have consequences and punished for their wrongdoings and not obeying the law. The government is expected and challenged to practice equality in all decisions
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contract is agreement concerning promises made between two or more parties with the intention if creating certain legal right and obligation upon the parties to that agreement which shall be enforceable in court law. The Trade practices act 1974 (Cth) particularly s52 cover the contract law: seven elements to create a simple contract‚ which are listed as the following: * Intention * Agreement * Consideration * Capacity * Consent * Legality purpose * Form Acceptance
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have a charitable purpose d. 0 They are two terms that have the same meaning. 2. If a corporation is properly incorporated in one state and wants to do business in a second state‚ the corporation a. 0 must incorporate in the second state b. 0 must do nothing because being incorporated in one state entitles the corporation to do business in all states c. 0 register with the Interstate Corporation Commission d. 0 may be required to obtain a certificate of authority from the second state
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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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MANAGEMENT DEVELOPMENT INSTITUTE OF SINGAPORE IN COLLABORATION WITH UNIVERSITY OF BRADFORD DIPLOMA IN BUSINESS MANAGEMENT BUSINESS LAW ASSIGNMENT Presented by Name | FIN/IC Number | Participation Marks Awarded | Gerry Vicentius Sajuti | G1180480U | | Diana Ong Cabillan | G5304258P | | Cecillia Satryo | G1188819X | | ANALYSIS | /40% | RESEARCH | /30% | ORGANIZATION | /15% | PRESENTATION | /15% | Date of Submission: 16 OCTOBER 2012 Name of Lecturer: DANIEL THEYAGU
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statement about a sole proprietorship. A. It is a form of business that is seldom found in the United States. B. It is a form of business that has only one owner. C. It is a separate legal entity‚ distinct from an owner. D. It is a business form in which the owner enjoys limited liability. Correct: The Correct Answer is: B. A sole proprietorship is a form of business that has a single owner‚ known as the sole proprietor. The business is not a separate legal entity distinct from the owner. 2.
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Unit 5 Practice Test 1. All contracts involving interests in land must be in writing to be enforceable –T 2. A contract that by its own terms cannot be performed within a year must be in writing to be enforceable -T 3. All promises must be in writing to be enforceable -F 4. There are no exceptions to the Statute of Frauds -F 5. The rights under a contract for personal service normally can be assigned - F 6. A contract that contains a clause prohibiting its assignment will usually prevent it from
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Richard misses his plane from London to Paris. Ryan takes him there by car. As he gets out of the car‚ Richard promises to pay Ryan $1000 for his efforts Issue: Is there any consideration for the promise made by Richard? The Law: Every contract requires an offer‚ acceptance‚ and consideration. Consideration is the exchange of benefit and detriment‚ for example‚ the making of a promise in exchange for an act. If a party voluntarily acts and then the other party makes a promise‚ the act is
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Business & Company Law – ’11-’12 – Question 1 Introduction: Whenever a contract is to be formed‚ there are certain elements which should meet the requirement in order for it to be established. They are offer‚ acceptance (agreement)‚ consideration and intention. * Definition: Agreement – Is formed when an offer is made and accepted. * Communication: Must be communicated * Except in the case of a unilateral contract. * Two types of Communications: * Instantaneous
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