LAW ON OBLIGATIONS AND CONTRACTS* I. Introduction A. Law - from the Latin word “lex” which is derived from the verb “Ligare” meaning “to bind” - a rule of conduct‚ just and obligatory promulgated by legitimate authority for the common observance and benefit (as defined by Sanchez Roman‚ a Spanish Civilist) B. Sources of Law 1. Legislative- Congress 2. Constitution- supreme law of the land 3. Administrative or Executive Orders‚ Regulations and Rulings-
Premium Law
Threat of Entry There is a high barrier entering airlines industry since it requires high capital to set up everything such as purchase or lease air craft‚ set up office‚ hire staffs‚ and etc. Thus‚ this has reduced the treat to Malindo Airline. Moreover‚ brand awareness is quite important in this industry. Hence‚ to enter this industry not only required high capital but also have to take some time to create brand awareness. Consumers always choose the product or service they really trust. Thus
Premium Airline Kuala Lumpur Low-cost carrier
web address Building.co.uk. A design and build project allows the low risk factor as for the client has the contractor takes on the risk by offering a fixed cost contract. The web address designbuild-network.com states the original provision for a building cost was around £352m‚ with total project costs of £757m. A fixed price contract protects the client from any expiring costs‚ for example if the construction of the stadium was to have any over runs or delays. The main contractor building Wembley
Premium Construction Architect Building
04-Feb-0 Contract of Employment: Civil code has ~3300 articles‚ contains all civil/general laws of Quebec. Contract[1] of Employment is a portion of the code. [2085] “what it’s all about.” An employee: Contractor: No direction and control‚[2] contractor sets his own daily schedule‚ vacation schedule‚ provides his own tools (e.g. computer)‚ is able to subcontract work. o e.g. lawyer: is hired as an agent/agency‚ does not direct/control • Important to specify between the
Premium Termination of employment
CONSTRUCTION CONTRACTS IAS 11 – DEFINATION IAS 11 defines a construction contract as: a contract specifically negotiated for the construction of an asset or a combination of assets that are closely interrelated or interdependent in terms of their design‚ technology‚ and function for their ultimate purpose or use. IAS 11 – TREATMENT Where possible‚ IAS 11 applies the accruals concept to the revenue earned on a construction contract. If the outcome of a project can be reasonably foreseen‚ then
Premium Contract Generally Accepted Accounting Principles Balance sheet
The Psychological Contract Shein (1980) explained the concept of the psychological contract as a set of mutual expectations held between the employee and employer within the workplace. It is an unwritten set of expectations operating at all times. It can also be described as individual beliefs shaped by the organisation that relates to the expectation the employee has in terms of pay‚ fair treatment‚ opportunities etc and the expectations that the employer has in terms of performance‚ loyalty‚ etc
Premium Employment
Sale of Goods Act- gives statutory rights as a consumer. Was the contract with an existin company or one which is starting up?? Was there any limitation clause in their contract?? Breach of contract causes a contact to be discharged. This is when one party performs defectively‚ differently from the agreement. This can be done by actual breach‚ when there is no performance‚ or through anticipatory breach‚ when they indicate in advance that they will not be performing as agreed. An offer is when
Premium Contract
A futures contract is a commitment to make or take delivery of a specific quantity of a commodity or other financial obligation at a predetermined place and time in the future. All terms of the contract are standardized and established beforehand‚ except for the price‚ which is determined by open outcry in a pit or ring on the exchange trading floor of a commodity exchange. All contracts ultimately are settled either through liquidation (by offsetting purchases or sales) or by the delivery of the
Premium Futures contract Derivative Commodity market
breech of contract The Breach Of Contract Joseph Ragisoa Business Law I Professor Leah Westerman August 12‚ 1013 The Breach Of Contract There are many ways to terminate the obligations of a contract. Most often‚ parties conclude their contract obligations by performing them. However‚ sometimes problems arise and parties cannot or will not complete their obligations under the contract. When this occurs‚ contracts may be terminated by reasons of rescission‚ breach‚ or impossibility
Premium Contract
LAW OF CONTRACT The Law of Contract is that branch of law which 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. Indian Contract Act‚ 1872 came into effect from 1st September‚ 1872. It extends after
Premium Contract