1. Invested $70000 in business. 2. business purchased supplies and carpet the amount of supplies 500 and the amount of carpet was $50 paid in cash 3. The advertising of business on cash of 200 4. The business collected loan from bank of 8000 5. The business purchased truck of 9000 in cash 6. Business purchased 100 computer systems of 60000. The business pay 30000 in cash and the rest of amount will after 3 week 7. Business purchased supplies of $500 and write on note that will return after
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origins of contract law in business law. Secondly‚ briefing the basic requirement of the formation of a contract such as offer because to understand an offer is the first step in the formation of a contract. As well‚ states others formation of the contract: an intention of the parties‚ acceptance‚ legality‚ capacity and consideration roughly. The supporting example of cases will be given. Furthermore‚ I will explain how to determine the formation of a contract (conditional acceptance will not form an
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pole and that Butterfield was not riding with care‚ Forester should win Trial Court rules in favor of Forrester; Appellate court upholds Incipient use of contributory negligence: principle that a plaintiff is the more liable party in a negligence case‚ cause injury to themselves regardless of defendant Legal Issues: Does the negligence of the plaintiff supersede possible negligence of the defendant? Court’s Analysis: Butterfield would have seen the obstruction if he had used ordinary care.
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Contract By definition under Sec 2(h) Contract Act 1950‚ “an agreement enforceable by law is a contract”. A contract is a promise or agreement between two or more parties that is enforced by law to be legally binding. It may involve a duty to do or refrain from doing something‚ and the failure to perform such duty is a breach of contract. The role of law in a contract is not to punish the breaching party but to provide remedies to restore the person wronged to the position they ought to occupy if
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of income of $20‚000 for the duration of the injury. REQUIRED: Advise Peter of his legal rights under the law of torts. (Maximum word length: 1‚000 words) Question 2 (10 marks) On Monday‚ Aaron wrote a letter to Ben offering 300 bags of cement at $100 per bag. On Wednesday‚ Ben received the letter of offer from Aaron and posted a reply letter to Aaron in which he accepted Aarons offer but added that if he did not hear to the contrary‚ he would assume that the price included delivery to his warehouse
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Crown’s plant in Atlanta.Mitsubishi shipped the wood from Taiwan to Savannah.However‚ in Savannah‚as the railroad was negligent in loading the train which caused the cargo to shift during the trip‚finally the wood got damaged. Issue The issue of the case is that which party should bear the risk of loss given that the railroad’s negligence in loading the train during transport caused the damage to the goods and the contract indicates Mitsubishi would import the wood from Taiwan and deliver it to Crown’s
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This case is a perfect illustration of the importance of having clear and concise and up to date policies and procedures. It is cases like this that show the benefits of being accredited and helps to bring understand to the very reason the Commission on Accreditation for Law Enforcement Agencies standards were developed (CALEA‚ n.d.). This case had several areas of concern‚ many of which could have been avoided by having a policy like we have been speaking about. One of the first issues is the practice
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she is a victim of a medical malpractice and of Texas’ newly reformed tort laws. Texas lawmakers unanimously passed a tort reform package in 2003 which topped noneconomic damages that a plaintiff could receive in medical malpractice at $250‚000. That became the negligence standard for emergency care. It also required an expert witness to substantiate evidence of negligence before a trial. Tort reform advocates approve the law as a way to reduce frivolous lawsuits against health care providers and organizations
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Introduction A contract is defined as an agreement enforceable by law. Hence for all contracts there should have an agreement. The agreement arises by one of the parties making an offer and its acceptance by the other party. Both offer and acceptance create an agreement. In simple contract should first contain an offer made by one party to the other. What is an offer? As per Sec 2(a) of the contract act “When one person signifies to another his
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are some similarities between Rafi’s case and some previous cases in which the court rules the contracts to be invalid due to bilateral mistakes. In Raffles‚ the court makes it clear that the contract is avoidable if both parties are mistaken about a key term in the contract. When making the contract‚ the defendant meant one “Pearless” and the plaintiff another. There was no agreement on the same issue‚ and therefore there is no binding contracti. In Rafi’s case‚ both parties attempt to make an agreement
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