different and distinct from the members who constitute it. This principle of independent corporate personality was laid down in the case of Salomon vs. Salomon & Co. Ltd. In this case Mr. Salomon was carrying on shoe manufacturing business on proprietorship basis. He sold his business to a company Salomon & Co. Ltd. for 30‚000 pounds. Salomon received consideration in the form of shares for 20‚000 pounds of one pound each and got debentures worth 10‚000 pounds. The company had seven members‚ consisting of
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TAXATION LAW BLAW30002 Course Outline Semester 2‚ 2012 Welcome to Taxation Law! This course outline provides you with essential administrative information regarding the course. Please read all of the information closely. 1 Subject description 1.1 Content This subject provides students with an introduction to the Australian taxation system. Upon completion of this subject‚ students will have: a basic overview of the overall Australian tax system and the policy influences behind its
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Erin Smith Exercise 11.2 Question 1: What are the “two greatest contributors” to contract disputes? Why is it a good idea to use plain English instead of legalese when drafting a contract? What is a “letter of intent? ” What might be included in a letter of intent to avoid future disagreements over the legal effect of the letter? The two greatest contributors to contract disputes are a) failure to address all possible situations‚ whether deliberately or not‚ and b) ambiguity in the provisions
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Entertainment Law Note 1 – 10/19/2013 Law: Recognize issues‚ as you hone your craft and run your business. Caveat: Watch out! Be careful. What it’s not Risk management: To e proactive‚ but not reactive: when you react about something‚ it’s too late. Realize the things early than others and avoid the bad things happening. Producers are performing as attorneys. Producers are the head of the film. Will be asked lot of questions‚ should know all the answers. Filmmakers should know that
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MGMT 310 Hot Coffee Essay 3-31-13 Hot Coffee This film was very interesting to watch. It made me realize how many frivolous lawsuits that have occurred. The Stella Liebeck case was huge example. Yes I understand she suffered third degree burns and had to be hospitalized for a week or so to recover but it could have possibly been prevented. The right thing to do would be to be careful when handling the cup of hot coffee. The cup itself says to be careful and why would anyone put a cup of
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Business Law 1 Mid Term Teshvinder Singh Chopra SEGi University College: American Degree Program 2 July 2010 Accordingly‚ as with the situation‚ Tim has sustained injuries from the incident. The person at fault for Tim ’s condition is surely Danny‚ as he had parked his car illegally‚ which definitely breaking the rules‚ and he as well forgotten to engage the parking brake. This caused the car to roll back and eventually hits an electric wire and the sparks from the ignition of the electric
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Behavior-Oriented Rating Method VS. Results-Oriented Rating Methods The behavior-oriented rating method focuses on an employees behavior. There are two ways that behavior-oriented method is used: employees behavior is compared against other employees or an employee evaluated in terms of performance without reference to others (2005). These two systems are known as relative rating system and absolute rating system. Under the behavior-oriented rating method there are several ranking systems to choose
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Chapter End Questions Chapter 12-12.1‚ 12.3 Chapter 13-13.4‚ 13.5‚ 13.7 Chapter 14-14.3‚ 14.5 Chapter 15-15.2‚ 15.3‚ 15.4 12.1 Jerome is an elderly man who lives with his nephew‚ Philip. Jerome is totally dependent on Philip’s support. Philip tells Jerome that unless Jerome transfers a tract of land he owns to Philip for a price 30 percent below market value‚ Philip will no longer support and take care of him. Jerome enters into the contract. Discuss fully whether Jerome can set aside this contract
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Question 1 (b) The problem looks at whether the existence of contract entitled Albert to claim for a breach of contract from Charlie with four elements of contract to be established here: that the offer been made by Albert and has been accepted by Charlie‚ that parties intend to create legal relationship and that the consideration was provided. The issue here is to determine if a reasonable person would consider offer had been made. An offer may be described as the indication of one person to another
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Junyi Zheng Course MGNT3145 Professor.Toson Date 06/23/2013 Facts Mitsubishi has a contract with Crown Door Company which requires Mitsubishi to sell twelve boxcar loads of plywood to Crown and Mitsubishi should import the wood from Taiwan and deliver it to 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
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