1 . “The fundamental attribute of corporate personality is that company is a legal entity distinct from the members.”Elucidate the statement .Also specify the important features of a company. 2 . Discuss the essential elements of a valid contract. 4 . What are the characteristics of negotiable Instrument? Discuss the ‘privileges’ of holder in due course as per the provisions of the Negotiable Instruments Act‚ 1881? Also state the important amendment to be incorporated under sec 138 of the
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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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3. Contract Law “Is My Agreement an Enforceable Contract?” The Law of Contract involves answering 4 questions: (1) Is my agreement an enforceable contract? Are all of the elements of a contract present. (2) If so‚ what does it require me (and the other party) to do? - What “promises” have become terms of the contract. (3) Can I get out of it (without paying some form of penalty)? - Was the formation of the contract defective in some way (ie were there any ‘vitiating elements’ present)
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Genuine Assent Are you for real? -Valid‚ void‚ voidable. -Valid: perfectly fine contract. -Void: contract cannot be used. -Voidable: a party of the contract has the right to declare it void. -Unilateral Mistake: mistake by one party‚ has no effect on the contract. Contract must be followed‚ even with mistakes. Valid contract. -Mutual Mistake: mistake made by both parties. Causes agreements to be void. -Existence of subject matter. -Nature of the agreement. (For some really good
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The issue of this case is whether Freeze Bhd. (FB) has acted as an agent of necessity in the situation and qualified to claim for warehouse storage charges from Nice to Eat Restaurant (NER). Section 142 Contract Act 1950 states‚ “An agent has authority‚ in an emergency‚ to do all such acts for the purpose of protecting his principal from loss as would be done by a person of ordinary prudence‚ in his own case‚ under similar circumtances.” According to Section 142‚ an agency by necessity may arise
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Business Law I January 31‚ 2013 Corporate Structure Assessments Part A: A sole proprietorship is a type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business. The owner receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. The IRS does not consider the sole proprietorship as a separate business entity. The owner reports
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Many towns in New Jersey have declared a new curfew law for teens under 18. Some towns have the curfew for being in your house or someone else’s house by 11 PM unless traveling to and from a job. Many teens think this is unfair and unconstitutional. My personal opinion on this topic is that it will definitely decrease the rate of vandalism on personal property‚ stores‚ etc. First of all‚ with this curfew teens will be in their homes or someone else’s homes by 11 PM which I’m sure
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they lived similarly. In fact New England and the Southern Colonies lived much differently from each other. Some of these differences are economic‚ political‚ and their Social. To start with the New England and Southern Colonies economic differed greatly. New England had a very rocky climate and short growing season‚ which internally made farming nearly impossible; The Colonist that did farm‚ only had enough food for their families and nothing more. On the other hand‚ New England had very rich forest
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SOUTHEAST UNIVERSITY Assignment On Entrepreneurship Prepared for Afsana Aman Lecturer‚ Southeast University Prepared by 1. Anik Saha 2.MD Fayj Ullah Date- 31July2013 Table of Content * Introduction * Acknowledgement * Executive summary * Object * Mission * Key to success * Service * Company summary * Ownership * Start-up summary * Company locations and facilities * Product * Product description * Competitive Comparison
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remember this‚ that only one of my friends played basketball‚ and he was really good; because we will get to this later on in the story. In my family no one was interested in basketball at all‚ well my dad did follow the NBA scores from the sports news on TV like every other week. They never showed any NBA basketball games on TV‚ there was only a show that was on every Friday mornings at 5 o’clock IN THE MORNING! Since there wasn’t many people interested in basketball in Iran‚ there are not many
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