Law Affecting Business Table of Contents Introduction 4 Sources of Law 5 Laws affecting Business’s 8 Government Taxation affecting Busniess’s 16 Purpose of Taxation 23 Conclusion 25 Introduction Any system of regulations to govern the conduct of the people of a community‚ society or nation‚ in response to the need for regularity‚ consistency and justice based upon collective human experience is called law. In addition‚ business law encompasses the law governing contracts
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28/11/2013 Contents Elements of a Contract There are different elements of a contract that you must take into account when entering one. The following will give an understanding of these and explain their importance. Capacity There are four essential elements that affect contract law. The first of these is capacity. This element states that parties in agreement with a contract must have the legal capacity to enter into that contract. There are factors that affect the capacity of a
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|School of Business | | |LAW/531 Version 6 | |Business Law | | | Course Description This course prepares students to evaluate the legal risks associated with business activity. Students create proposals
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1. What are the four elements of a valid contract? A contract is an "agreement between parties‚ with terms and conditions that describe the agreement that constitutes a legal obligation" (All Business). A valid contract requires four elements and these are: a. Mutual agreement there must be a meeting of the minds between parties. There should be an offer and an acceptance. There should be an agreement to enter into the contract b. Consideration - meaning that "every party is conferring a
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The following situations are similar (all involve the theft of Makoto’s laptop computer)‚ yet they represent three different crimes. Identify the three crimes‚ noting the differences among them. 1 While passing Makoto’s house one night‚ Sarah sees a laptop computer left unattended on Makoto’s porch. Sarah takes the computer‚ carries it home‚ and tells everyone she owns it. 2 While passing Makoto’s house one night‚ Sarah sees Makoto outside with a laptop computer. Holding Makoto at gunpoint
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Pusateri v. E. F. Hutton & Co.‚ Inc. Fiduciary Duty after Francis Pusateri retired; he met with Gilbert J. Johnson‚ a stockbroker with E. F. Hutton & Co.‚ Inc.‚ and informed Johnson that he wished to invest in tax-free bonds and money market accounts. Pusateri opened an investment account with E. F. Hutton and checked a box stating that his objective was “tax-free income and moderate growth.” During the course of a year‚ Johnson churned Pusateri’s account to make commissions and invested Pusateri’s
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Business law LAW OF CARRIAGE:- Defination of law of carriage: Law of carriage means carrying goods from one place to another against the price. It is the branch of business. Carriage is the basis for the management and operation of business successfully and effectively. It is the factor of business activity that helps to mobilize the labor‚ raw material‚ and tools and machinery etc. Modern business activity are based on the exchange of goods and transportation of goods from one place to another
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------------------------------------------------- ------------------------------------------------- INTERNATIONAL BUSINESS LAW ------------------------------------------------- BUSA 391 – SUMMER 2010 Prepared For: Professor Leslie Beck By: Gabriela Popescu ID: 260224311 June 17‚ 2010. Six months ago‚ Antiques R Us (a Canadian corporation) entered into a contract with Yankee Antiques (an American company) to purchase “a desk used by George Washington himself after his retirement from
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3010 BUSINESS LAW LAW AGENCY NOTES AGENCY LAW The law of agency in Kenya is basically that of the English Common Law. It deals with the relationships that arise when one person‚ the agent‚ is used by another‚ the principal‚ to perform certain tasks on his behalf. CREATION OF THE AGENCY RELATIONSHIP Agency may be created in four ways namely‚ i. By contract ii. By Ratification iii. By Estoppel iv. By operation of the law Agency by Contract This may either be by express contract which requires
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The preliminary issue in the question is fast food restaurant is vicariously liable for the Cathy’s negligence. Since the concerns about the law of tort‚ the following analysis will focus on the possible tortuous liability instead of the potential breach of the contractual obligation and the criminal acts. In principle of vicarious liability‚ to make an employer liable for a wrong committed by an employee‚ the plaintiff must establish that: 1. defendant is an employee ( as opposed to an independent
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