(ENG) Corporate and Business Law Class Notes June 2012 © Debbie Crossman‚ January 2012 All rights reserved. No part of this publication may be reproduced‚ stored in a retrieval system‚ or transmitted‚ in any form or by any means‚ electronic‚ mechanical‚ photocopying‚ recording or otherwise‚ without the prior written permission of Debbie Crossman. 2 www.studyinteractive.org Contents PAGE INTRODUCTION TO THE PAPER CHAPTER 1: ENGLISH LEGAL SYSTEM CHAPTER 2: LAW OF CONTRACT – FORMATION
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INTRODUCTION TO LAW AND LEGAL REASONING Law – provides stability‚ predictability‚ and continuity. LAW IS AN (1. SET OF RULES) that (2. COURTS WILL ENFORCE)—and AMERICA’S FIRST LAW SYSTEM USED IS COMMON LAW/ ANGLO-AMERICAN COMMON LAW DEAN’S LIST 1. CONSTITUTION (+ CHARTERS) 2. STATUTES (+ ORDINANCES) 3. TREATIES 4. CASE LAW / PRECEDENTS / STARE DECISES 5. EXECUTIVE ORDERS 6. ADMINISTRATIVE RULES + REGULATIONS 7. CONTRACTS 8. INITIATIVE (+ RECALL) 9. REFERENDUM 10. COMMON LAW “ANGLO AMERICAN
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Amicable Heritable Securities V Northern Assurance Co 1883 11 R 287 5 Sloans Dairies V Glasgow Corp 1977 Scot CS CSIH_2 4 Wight V Brown 1845 11D 459 4 The concept of insurable interest and the alleged need under Scots law for the requirement of insurable interest by the insured in an insurance policy‚ have recently come under scrutiny. Why is this‚ and what should be done about the problems arising from the requirement for insurable interest? How realistic are the proposals
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Role and Function of Law Law/ 421 January 11‚ 2013 Professor Gary Matano The law plays an important role in business and society. The law imposes rules and regulation that carry out the moral standards of business and society. The laws help maintain the policies and ethical conduct of individuals‚ groups‚ and corporations run smoothly. In business law can build goodwill between merchants and consumers. This should be considered in commercial
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Business Law Business Law: Unit�1 Review: 1.A law that restricts a fundamental right violates substantive due process unless it promotes a compelling or overriding state interest. TRUE 2. Owen claims that a Pennsylvania state statue infringes on his "substantive due process" rights. This claim focuses on: the content of the statute 3. A Rhode Island state statute imposes a prison term‚ without a trail‚ on all street vendors who operate in certain areas. A Court would likely hold this statute
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Richard misses his plane from London to Paris. Ryan takes him there by car. As he gets out of the car‚ Richard promises to pay Ryan $1000 for his efforts Issue: Is there any consideration for the promise made by Richard? The Law: Every contract requires an offer‚ acceptance‚ and consideration. Consideration is the exchange of benefit and detriment‚ for example‚ the making of a promise in exchange for an act. If a party voluntarily acts and then the other party makes a promise‚ the act is
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suffice to displace the provision that they are entitled to share equally. 4. Hence‚ Morrissey would most likely be awarded 1/5 of the capital as the provision was displaced by the understanding that Morrissey was to have a 1/5 share of the business should dissolution be ordered. Did Morrissey have authority to bind firm‚ making Smiths liable for losses caused by the power outage at Manchester Meat(“MM”) and damage to the air-conditioning? Actual Authority 5. Actual authority may be
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Introduction In the Law of Contract the phrase “mistake” & “Misrepresentation” is applied when one or both parties of a contract act under a false or mistaken understanding. Mistake can be defined by Pendleton ‚ Vickery (1998)‚ [1] as; ➢ A misunderstanding regarding a fact‚ causing one or more parties to hold disagreeing beliefs about the foundation of a contract. Mistakes can be made in the form of a contracts subject matter or as a mistake of identity. There are 3 different types of mistake
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Assignment on Business Law Topic: Identify the food product (Maggi 2-Minute noodles)‚ Cigarette (British American Tobacco Group)‚ Electronic good (Symphony mobile phone) are safe or unsafe under the Consumer Rights Protection Act 2009. Submitted by: Group-5 Name ID. No. Muhammad Shahreer Imran (L) 100206007 Md. Masud Rana 100106002 Naguib Jahan Shafi 100206014 Md. Akhlas Hossain Subuz 110106019 Surma Akter Mili 100206003
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Assessment 1: Individual Assignment Question 1 (a) Consideration is one of the four main elements to be present in order to have a legally binding contract. Consideration can be anything of value (such as an item) which each party must agree to exchange for the contract to be valid. For consideration to be sufficient‚ both parties have to have an agreement. If only one party agrees to it‚ then the agreement is not consider a legally binding contract. Something must be given or promise in exchange
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