Group A8 group memebers: Question 1 HowCan Pte Ltd enters into a contract of sale with Panda Ltd in China for the sale of perishable goods‚ F.O.B (free on board: i.e. buyer has to make the shipping and other arrangements). Howcan Pte Ltd then gets SureCan Pte Ltd to transport perishable goods from China to Singapore. The ship is supposed to transit via Vietnam. The goods are shipped out of China‚ but due to improper planning on the part of SureCan Pte Ltd‚ they are wrongly dispatched
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required to go to school and must perform well in the class but some of the students are having hard time‚ one of the reasons is the distance of their house from their school which may result to negative effects on them like being tardy in the class. Some of the costs of being tardy may be emotional stress‚ lack of time management‚ and loss in personal activities. Fulfilling needs may be beneficial‚ and denying these would be costly. If the students knew the relationship between the
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Contracts Shannon Tyler LAW/421 January 15‚ 2015 Robert Casey Introduction In law‚ contracts tend to be the most studied area for business majors. It is essential part of business that business owners‚ managers and entrepreneurs deal with on a day-to-day basis. According to Melvin (2011)‚ a contract is a promise or set of promises enforceable by law. So a promise made between parties that can yield consequences is nothing to play with. The potentially harmful results of these consequences is a reason
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Common Contracts paper Alyssa Baker-Brake LAW/421 Lina Malanzo 07/01/13 Contracts are a written promise to do something‚ or not to do something. The purpose of the contract is to ensure that both parties will perform the duties that they have promised to do‚ or to prevent something that was promised to prevent. Contracts are here to ensure that people follow through with their word when they promise to do something. With a contract‚ you can make a promise a legal obligation. I have personally
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Contract Classification | Basis of Defect | Status of Contract | Legal Effects | Prescriptive Period | Ratifiability | A.Rescissible1. Contracts entered into in behalf of wards 2. Contracts agreed upon in representation of absentees 3. Contracts undertaken in fraud of creditors a. existing credit prior to the contract to be rescinded b. fraud on the part of the debtor c. creditor cannot recover his credit in any other manner 4. Contracts which refer to things under litigation
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A contract is a "promise" or an "agreement" that is enforced or recognized by the law‚ whether implied or expressed. There must be an agreement‚ which consists of an agreement‚ an intention to create legal relations‚ and consideration. A contract is said to come into existence when acceptance of an offer has been communicated to the offerer by the offeree. An offer is an expression of willingness to contract on certain terms‚ made with the intention that it shall become binding as soon as it is
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Carlill v Carbolic An offer can be made to the whole world. Unilateral offers may require communication of the acceptance after the consideration Felthouse v Bindley Silence is not acceptance Empirnall Holdings v Machon Where an offeree‚ with a reasonable opportunity to reject the offer of goods or services‚ takes the benefit of them under circumstances which indicate they were to be paid for‚ the tribunal of fact may hold that the offer was accepted according to its terms. Butler Machine Tools v Ex-Cell-O
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Contract Bundling 1. What is contract bundling? According to FAR 2.101 the definition of a bundled contract or bundling refers to the consolidation of two or more procurement requirements for goods or services previously provided or performed under separate smaller contracts into a solicitation of offers for a single contract that is likely to be unsuitable for award to a small business. What this really means is that contract bundling happens when two or more contracts intended for small businesses
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Aspect of contract and business law Assignment 1: The requirements for a valid contract P1: Identify the legal criteria for offer and acceptance in a valid contract. In order for a contract to be legally binding‚ both parties must make an offer and an acceptance of that offer. An offer‚ by law it is generally presumed that in a commercial transaction‚ the contracting parties must have the intention to create a legally binding contract. This means that if they have signed a contract for business-related
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M2014036 1 2 Contract Defined An agreement between two or more parties representing a promise to be performed for consideration 3 Necessary Parts of a Typical Construction Contract O Parties identified O Parties make promises that constitute an offer O Both parties sign the contract O Both parties receive consideration: O Contractor – payment for work done O Owner – use of the completed project O Parties of the contract must have the LEGAL AUTHORITY to negotiate a contract 4 Contractual
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