Insurance is a means for persons and businesses to protect themselves against the risk of loss. An individual who purchases automobile insurance may be reimbursed by the insurer if his or her car is stolen. Insurance is crucial to personal‚ business‚ and estate planning. Insurance is defined as a contract whereby one party undertakes to identify another against loss‚ damage or liability arising from an unknown event. It is a means of transferring and distributing risk of loss. The risk of loss
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BUS 115 – Business Law Module 2- Courts and Alternative Dispute Resolution Case 3-3 “Discovery” Should a party to a lawsuit have to hand over its confidential business secrets as part of a discovery request? Why or why not? What limitations might a court consider imposing before requiring ATC to produce this material? The party to the law suit should hand over information during the discovery phase. However‚ discovery is allowed only if the information is relevant to the claim or defense
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registered under the law (if any) for the time being in force for the registration of such documents‚ and is made on account of natural love and affection between parties standing in a near relation to each other. In other words‚ an agreement made on account of natural love and affection is binding if the following requirements are present: It is expressed in writing; It is registered (if applicable); and The parties stand in a near relation to each other --- Tan Soh Sim‚ Chan Law Keong & Ors v
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ONE SUMMARY: A new state law mandates that all employers must prohibit smoking on employer premises‚ and is responsible to enforce this law whether it be an employee‚ customer or client smoking the employer is always required to enforce the law that no one can smoke there. ANALYSIS/ PERSONAL COMMENTARY: This is substantive law as it is defining the liability that the employer has to keep employees/clients/customers from smoking on the premises of their place of business. And I think the fact that
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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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Contract of the Encyclopedias Kaplan University Ls311-04 Business Law Unit 4 Professor Strauss Case Scenario Carrie offered to sell a set of legal encyclopedias to Antonio for $300.00. Antonio said that he would think about her offer and let her know his decision the next day. Norvel‚ who overheard the conversation between Carrie and Antonio‚ said to Carrie‚ "I accept your offer..” Carrie gave Norvel the books. The next day‚ Antonio‚ who had no idea
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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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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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