Topic 3: Contract Law *What is a contract? a legally enforceable agreement; that is‚ an agreement enforceable in a court *Types of contracts Number of parties: * Unilateral – one party (eg reward case) * Bilateral – two parties‚ both with mutual obligations * Multilateral – more than two parties‚ all with obligat0ions Form: * Simple Contracts: written; oral; part-written & part-oral * Need all elements of a contract ‚ including consideration * If all elements
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Question 1 | | 1 / 1 point | Law is a body of enforceable rules governing relationships among individuals and between individuals and their society. | True | | False | View Feedback | | Correct. | Question 2 | | 1 / 1 point | The doctrine ofstare decisis obligates judges to follow precedents established within their jurisdictions. | True | | False | View Feedback | | Correct. | Question 3 | | 1 / 1 point | Common law develops from rules of law announced in court decisions
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Distributors Bhd at RM24.00 per barrel or RM26.00 per barrel. This is a contract and the contract is a legal‚ because Az oil Co agree to supply oil per barrel to CRT Distributors Bhd. Consideration need not be adequate Section 26 “ an agreement is not void merely because the consideration is inadequate. Section 26 illustration (f) “ A agree to supply a quantity of oil at RM24.00 or Rm26.00. the agreement is a contract notusthstanding the inadequacy of the consideration. Case : Phang Swee
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International Business Law Chapter 4 Study Guide (Group 8) Under frustration of purpose clause‚ a contract may be excused if the reason for entering the contract has been changed or has been invaluable. If the valuable part of the contract‚ for example a well known concert singer‚ has become ill‚ the contract may be excused due to the illness of the valuable part‚ the singer‚ of completing the contract. Valid Contract: an agreement that contains all of the essential elements and meets all
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Week 7 Breach of the Duty of Care Negligence Duty of care Established or novel duty? Is it a non-delegable duty? What is the scope of the duty? Breach of duty What is the relevant standard of care? Has the standard been breached? Damage Is it recognized by law? Was the breach a necessary condition of the harm? Is the harm within the scope of the defendant’s liability? Breach of Duty The fault part of the negligence action An act or omission of the defendant A failure to act as a reasonable person
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Chapter 11 Signal Sets Company contracts to deliver one hundred 52-inch plasma high-definition television sets to a new retail customer‚ Tuner TV Store‚ on May 1‚ with payment to be made on delivery. Signal tenders delivery in its own truck. Tuner’s manager notices that some of the cartons have scrape marks. Tuner’s owner phones Signal’s office and asks whether the sets might have been damaged as they were being loaded. Signal assures Tuner that the sets are in perfect condition. Tuner tenders
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Consider the possible conflicts between legally doing business and selling fast-food‚ given the increasing evidence of how it is a significant contributing factor in public health‚ obesity‚ and diabetes facing many Americans. Now‚ based on what you’ve learned in this module‚ answer the following: A) After reading the Inside Story section of Chapter 1‚ do you agree with how Disney Company is handling the issue? Why or why not? B) Does government (federal‚ state‚ or local) have a right or a responsibility
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Guide to Doing Business Bangladesh Prepared by Lex Mundi member firm‚ Amir & Amir Law Associates This guide is part of the Lex Mundi Guides to Doing Business series which provides general information about legal and business infrastructures in jurisdictions around the world. View the complete series at: www.lexmundi.com/GuidestoDoingBusiness. Lex Mundi is the world’s leading network of independent law firms with in-depth experience in 100+ countries. Through close collaboration‚ our
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Business Law II Test/Chapters 47-50 Student: ___________________________________________________________________________ 1. Identify the letter of the choice that best completes the statement or answers the question. The Department of Homeland Security: A. has been proposed but has never been created. B. is a non-profit organization. C. is a Cabinet-level Department. D. will have little effect on the federal government’s organization. 2. Which of the following is an accurate statement about the
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ANSWERS TO AICPA QUESTIONS CHAPTER 10 INTELLECTUAL PROPERTY RIGHTS AND THE INTERNET 1. (a) Computer software is covered under the general copyright laws and is therefore usually copyrightable as an expression of ideas. Answer (b) is incorrect because copyrights in general do not need a copyright notice for works published after March 1‚ 1989. Answer (c) is incorrect because a recent court ruled that programs in both source codes‚ which are human readable‚ and in machine readable object
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