What is a contract? A contract is an agreement enforceable by law. 2. What is an agreement? An agreement is an arrangement between parties that creates legal obligations between them. Generally an agreement is said to be arrived at when an offer or proposal made by one person is accepted by another‚ with the intention of creating mutual obligations between them. 5. What are the essential features of a contract? Minimum two parties :- Atleast two parties are needed to enter into a contact
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contractual liability. There are three differences between liability and contractual liability: A. The difference of base. Contractual liability means that due to the breach of duty‚ contractual collateral obligation of contract or violates the "contract law" provisions of the obligations. Finding out a contractual liability has to be in terms of contract. However‚ there are no needs for liability‚ which point liability are monetary damages that are sought from the offending party. They are intended to
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a commercial building‚ damages of $1000 are payable. The completion is delayed by 20 days due to the fault of the contractor. How much can the innocent party claim if the actual loss suffered is $22‚000? Do you think generally‚ it is wise for a business to always have a liquidated damages clause? 2. At Your Service Pte Ltd is a big company which provides various travel related services‚ including overseas tour packages which are designed in-house. Tom‚ a customer‚ had booked a special in-house
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Waller Business Law Writing Assignment 3 Spring 2014 3-19-14 Chapter 13: Nebraska Beef‚ Ltd. V. Wells Fargo Business Credit‚ Inc. Case Concept Review: 1. How did the court determine that the offer was sufficiently definite? The offer of the Wells Fargo Business Credit‚ Inc. was submitted to Nebraska Beef in the form of a letter. When Nebraska Beef engaged in accepting a line of credit from Wells Fargo
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used mainly for transporting goods on public roads. S 3(2) a person is not a consumer if the goods (regardless of price paid) are acquired: -for the purpose of re-supply or -for using them up or transforming them‚ in trade or commerce (business) in production or manufacture or -repairing or treating other goods for fixtures on land. Crago v Multiquip Pty Ltd (1998) Ostrich egg incubator is not ordinarily acquired for personal‚ household or domestic use. Atkinson v Hastings Deering
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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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Smith but it cannot be enforceable by law. 09. Yes‚ Leitner’s proposal was supported by consideration because he was promised to pay 3‚500 within next 5 years‚ but his son refused to pay the partners the amount agreed on. 10. When the common object of a contract can no longer be carried out‚ the court may declare the contract has been frustrated. There are some ways of frustration. The names are given below: I. Destruction of an object‚ II. Changes of law‚ III. Failure of pre-conditions IV
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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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Scott was then obligated to pay $1000 dollars to Todd. Scott can recover $500 from Otis which is the $1000 Scott had to pay to Todd less the amount he would have had to pay Perry for pitching a no-hit game. There was no breach of contract in this case. When Eddie had agreed to Wally painting his house for $2500 they entered into a unilateral contract where there is a promise for an act. Eddie has the right to revoke the offer at any time before Wally begins painting. The offer made was not fully
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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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