Business Advisory Service Legal responsibilities for business owners Advise for new business owners about: * Legal status and risk involved * Contract Law * Consumer legislation Legal Status When starting up a business‚ one should decide which legal status to choose. Each legal status has its own different responsibilities and there are some risks involved. There are three types of legal status: sole trader‚ partnership and limited companies (Ltd & Plc). * Sole
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INTRODUCTION Indian Contract Act 1872 is the main source of law regulating contracts in Indian law‚ as subsequently amended. It determines the circumstances in which promise made by the parties to a contract shall be legally binding on them. All of us enter into a number of contracts everyday knowingly or unknowingly. Each contract creates some right and duties upon the contracting parties. Indian contract deals with the enforcement of these rights and duties upon the parties. The Indian Contract Act 1872
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a) The first contract should be between the Ramirez family and Majestic Developers‚ inc‚ as they are the parties involved. (b) The consideration on the Ramirez family side is their 250-acre farm and on Majestic Developers‚ inc the consideration is three million million dollars. (c) What should be included in the contract should be; the parties‚ (2) the price‚ (3) the subject matter of the contract‚ and (4) the time of performance of the contract‚ also the contract should address the small fence
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Business Law and Ethics Assignment 14/03/2013 Module : 26313 Module leader : Phil Robinson Words count : 1088 In order to advise Neil‚ it is necessary to consider the law of the contracts‚ especially about offer and acceptance. We will analyze the situation to see what laws are applicable and advise Neil. In this case‚ we have three different people: Firstly an offeror‚ a person who makes an offer (in this case‚ Neil) and two offerees‚ the person to whom an offer is made (in this case‚ Theresa
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Sales Agreement THIS SALES AGREEMENT (the "Agreement") dated this 12th day of March 2012 BETWEEN: |Brenda’s Widgets‚ Inc. (BWI) of 123 Main St.‚ Podunk‚ Iowa | |(the ’Seller ’) | |OF THE FIRST PART | |- AND -
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and one foot on the passenger side of the hump. Brittany and Ashley were in the back seat. On the way‚ they ordered breakfast from the drive-through window of a Burger King restaurant owned and operated by defendant-appellee Emil‚ Inc. (“Emil”) under a franchise agreement with defendant-appellee Burger King Corporation (“BK”). Paul’s order included several breakfast sandwiches and drinks and two cups of coffee. The cups of coffee were fitted with lids and served in a cardboard container designed
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CAPITALIZATION RULES WITH THE RESPECTIVE EXAMPLES No. RULE Example of the Rule 1. The first word of a sentence. She is beautiful. 2. The first word of a quotation. They said‚ ”Let’s hang out.” 3. The word “I.”
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The Liberalization of the EU Postal Market: What are the possible welfare effects? 1. Introduction In regulated industries‚ governments established Universal Service Providers (USPs) in the postal market in order to provide every inhabitant of a country with essential services. Many European Union (EU) member states decided that by the 1st of January 2009 the EU postal market should be liberalised‚ causing competition to increase. When competition rises within a specific market‚ usually‚ welfare
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CONTRACT LAW IN GREAT BRITAIN AND THE USA Key terms and specific concepts I FORM Deeds‚ specialty contracts‚ contracts under seal (# simple contracts) Statute of Frauds 1677‚ s.4 Property Act 1925‚ s.1‚ s.40‚ s.136 ; 1989‚ s.1(3)(a)‚ s.2(1) Consumer Credit Act 1974‚ s.67‚ s.68 Uniform Commercial Code 2-201 ( 2-202 Parol Evidence Rule) Jinright v. Russell (1971) Mulford v. Borg-Wagner Acceptance Corp. (1985) II TERMS A) TERMS IMPLIED BY STATUTE Sale of Goods Act
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end goal to break down this case‚ it would be a smart thought to begin by defining the term law and contract law. A law can be stated as “ A rule of civil conduct prescribed by the supreme power in a state‚ commanding what is right‚ and prohibiting what is wrong” (blackstone). Contract law can be defined as the written agreement which binds two people with certain rules and regulations as decided by both the parties and mentioned in the contract. The facts of the case Amal is a close friend of bushra
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