1. What is a Contract? Classify the types of contracts with suitable examples. Ans. A contract is an agreement reached between two or more persons involving the exchange of some goods or services .There are some key requirements for the establishment of a contract: * An offer & an acceptance * ‘Capacity or the ability to understand the consequences of a contract by persons of such age prescribed by law & those with sound mind. * ‘Mutual consent’ or agreement on the terms of a
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Business Law & Bankruptcy Assignment #4 Aquaman is president of a marine research company called Underwater Leagues‚ Inc. When his company conceived a dramatic new invention‚ he held off announcing the discovery until he bought 50‚000 shares of Underwater Leagues at $10 per share. After the announcement‚ the share price skyrocketed to $50 per share. The shareholders of Underwater Leagues‚ Inc. bring a derivative action suit against Aquaman claiming breach of fiduciary duty for violating 17 C.F.R
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Steps in the criminal justice process are as follows: Crime-is described as any violation of the criminal law. Nevertheless‚ arrest-the physical taking into custody of a suspected law violator in which we see the person taken away in handcuffs. Nonetheless‚ initial appearance- this is when the accused is told of the charges‚ bail is set‚ and a date for the preliminary hearing is set. Consequently‚ bail- is when money or property is pledged as a form of guarantee that a released defendant will appear
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thefreedictionary.com. The duties are a series of common law‚ statutory‚ and equitable obligations. The duties are analogous to duties owed by trustees to beneficiaries‚ and by agents to principals. Directors owe duties to the corporation‚ and not to individual shareholders‚ employees or creditors outside exceptional circumstances. The duties of a director are divided in two sections‚ the common law duties and the statutory duties of directorship. Common law duties; Duty of Good Faith The most general obligation
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Salesperson‚ whether there is a formation of a contract. To determine if an offer exists‚ an offer will be differentiated from an invitation to treat. Secondly‚ the offer and acceptance of the last offer will be identified. Thirdly‚ Fitness for purpose (SOGA) will be explained. With regard to Peter v Manufacturer‚ the “Guarantee” of consumer goods (UCTA) will be explained. Lastly‚ Peter will be advised regarding this issue. 2. Peter v Salesperson Applicable Law 1: Issue This issue is whether the
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Question 1 Explain in which way an agency may be terminated by operation of law. (3marks) Answer: An agency is created by express appointment when the principal appoints the agent by express agreement with agent. This express agreement may be an oral or written agreement between the principal and the agent. There are four factors can cause the termination by operation of law. i. Agency is terminated by frustration In Marshall v Glanvill‚ Glanvill who is a firm of drapers appoints
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expensive and long process in court. It is a process of the examination of claims and determining the outcome of these claim benefits. When the claim is filed and received goes through a 5 stage process to determine how the claim should be paid‚ (1) initial processing‚ (2) automated review‚ (3) manual review‚ (4) determination‚ and (5) payment. The purpose of this flow chart is to show you the steps you must take and explain the process of each step and what the purpose is for. 5 STEPS OF THE ADJUDICATION
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Business Law 304 Case Study case brief---Gregory‚ a comedy writer‚ entered into a contract with Wessel‚ a comedian. The contract provided that Gregory would provide Wessel with a 15 minute monologue for his upcoming appearance on the comedy hour and Wessel will pay $250 to Gregory. All performers could make $500 per appearance on the comedy hour. and when Wessel was scheduled to aper on the comedy hour‚ Gregory informed him that he was unable to provide the monologue‚ because last time Wessel
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or her innocence or guiltiness. The criminal process often begins with a stop or an arrest after a suspect is apprehended. The criminal process could end at any point up to the time of sentencing‚ depending on the facts and circumstances concerning a particular case. This assignment will attempt to highlight and explain in details all the steps of the criminal process
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is to change the law as it applies to the general population. A minority of Private Members’ Bills becomes law but‚ by creating publicity an issue‚ they may affect legislation indirectly. Like other Public Bills‚ private Member’s Bills can be introduced in either House and must go through the same set stages. However‚ as less time is allocated to these Bills‚ it’s likely they will proceed through all stages. A Bill is a proposal for a new law‚ or proposal to change an existing law‚ presented for
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