held. If the company held particular property subject to a security or other interest or claim‚ the Commonwealth or ASIC takes the property subject to that interest or claim. Note: See also subsection 601AE(3)--which deals with liabilities that a law imposes on the property (particularly liabilities such as rates‚ taxes and other
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Court * Law suit individual vs individual * Purpose is to ask for damages * By a preponderance of the evidence (more evidence then other ) 51% Criminal Court * State brings law suit against individual * Purpose to punish‚ revenge‚ “rehabilitate” * Beyond reasonable doubt Burdon of proof – amount of evidence Plaintiff- party bringing civil suit Pro – state bringing chargers against an individual Cause of action- reason for your law suite Trial
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Law and Courts in Today’s Business Environment In today’s business environment there is no exact definition of law. Law is a set of rules‚ standards and principles that outlines the behavior we practice in business. The legal system is a major institution that assists us in defining acceptable social behavior. Laws limit the activities that are not in the best interest of the public. All people have different values and desire different things in life laws act as a way to dispute resolution. Laws
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Law‚ Ethics‚ and Corporate Governance – LEG 500 Explain if it matters that a parent literally had nothing to do with a biological child in order for the child to take advantage of the Family and Medical Leave Act (FMLA) to care for that parent. Under the Family and medical Leave Act (FMLA)‚ a child can take care of their biological parent. This is even true even if that parent literally had nothing to do with the child growing up. The Family and Medical Leave Act (FMLA) provides an
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Unit 2 Case Study: Baker v Osborne Development Corp. Name Kaplan University LS311-01: Business Law Professor Starcher December 13‚ 2012 When Thomas Baker and other homebuyers purchased their properties from Osborne Development Corp.‚ they may not have know that if there were defects on the property they would have to go into arbitration for restitution. From what I understand of the reading‚ Osborne Development Corp. purchased the home warranties after the purchase of
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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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Chapter 13 Reality of Consent Effects of Doctrines Discussed in This Chapter * Voidable: person whose consent was not real has the power to rescind (cancel) the contract * Necessity for Prompt and Unequivocal Rescission * Must act promptly and unequivocally to rescind a contract * Also avoid actions that suggest that she affirms or ratifies the contract * Send mixed messages‚ delaying the notification‚ etc. Misrepresentation and Fraud * Relationship between Misrepresentation
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proprietorship is a business owned one person‚ who has full control of the business and how it is run. They also own all the assets of the business and any profit that it makes. In the same vein‚ they are also responsible for all the debts and liabilities the business accrues. There are lots advantages by being a sole trader. The first advantage is easy formation. The formation of sole proprietorship business is very easy and simple. No legal formalities are involved for setting up the business excepting
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2014 Subject: Different types of Business Organizations Four Different types of Business Organizations There are many advantages and disadvantages of Business Organizations. Here we will seek out the advantages and disadvantages of Sole Proprietorship’s‚ Partnerships‚ Corporations‚ and cooperative Business organizations. The information provided will also give you an insight on exactly what each Business Organization does and how it works and fits in Business structure. A lot of businesses
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Timber Yard. He made known to Frank‚ the sole proprietor‚ the purpose and requirement of the materials and placed an order. John signed a standard form contract and paid a deposit. Two months later‚ problems arose which caused John to delay his business. John incurred financial losses. B. IDENTIFYING THE ISSUES 1.0 CONTRACT BETWEEN JOHN & FRANK. It is obvious that there is a contract for the sales of goods between Frank and John. Therefore‚ terms implied by statute into the sales of
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