QUASI-CONTRACTS UNDER INDIAN CONTRACT LAW TABLE OF CONTENTS: 1. Introduction 2. Kinds of Quasi-Contracts 3. Basis of Quasi-Contacts 4. Conclusion 5. Bibliography INTRODUCTION: Sections 68 to 72 deals with "certain relations resembling those created by contract" under Indian contract act‚ 1872. It incorporated those obligations which are known as "quasi contracts" under English
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of a Contract “A contract is an agreement that can be enforced in court. It is formed by two or more parties who agree to perform or to refrain from performing some act now or in the future.” (pg 208) Recently I was faced with a situation regarding a contract that was not in writing and I had to explain that as long as a verbal contract contains the four essential elements of a contract it is binding. We are so accustomed to seeing contracts in writing that many people assume that a contract must
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Everyone on the network can use the same data. This avoids problems where some users may have older information than others. 9.2 Cost Minimization of LAN resource sharing: The cost can be minimized by sharing Expensive devices such as laser printers or scanners. When we share the peripherals among some workstation without buy a different peripheral for each computer‚ the cost is ultimately minimized. Even for file storage‚ we can use a central file server to store all files instead of having them in
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Processing System because transaction’s involves purchasing. 4.) Before Low Voltage makes a final decision‚ should the company consider an ERP system? Why or why not? Yes‚ because we all know that ERP (Enterprise Resource Planning) provides cost effective support for users and managers throughout the company‚ that’s why Low Voltage might need to consider these. Group Work: Group 7 4.) Rainbow’s End Interview 1.) What are the main differences between structured
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Team Contract: Team Name__ Definition of group and objectives. Team __ shall be comprised of and organized by _______________________________. It will be the aim of said team to successfully complete CS 1 with the maximum of grade performance and to ensure the understanding of all tenets‚ facts‚ and errata connected with the study of the CS 1 curriculum for all group members. Each team member will be assigned specific roles (Manager‚ Recorder‚ Skeptic) and the roles will rotate during the
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Contract A contract is a promise between two or more persons involving the exchange of some good or service. Some of the basic elements of a contract include: an offer and an acceptance; "capacity‚" or being of legal age and sound competence; "mutual assent‚" or agreement on the terms of a contract; and "consideration‚" or compensation for goods or services rendered. The element that distinguishes a contract from an informal agreements is that it is legally binding:the law provides
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Exchange Participant Contract AIESEC in Karachi Exchange Participant’s Name : Review Criteria for Exchange Participants I agree that I fulfill the following minimum criteria: I have a comprehensive knowledge of AIESEC‚ its vision‚ purpose‚ its objectives and its activities I have developed the necessary competencies required to go on internship I have the adaptability‚ awareness and maturity to handle the challenges of an internship in a different country/territory and culture I have
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1. The chief economist for Argus Corporation‚ a large appliance manufacturer‚ estimated the firm’s short-run cost function for vacuum cleaners using an average variable cost function of the form. AVC= a + bQ+ cQ^2 (the 2 is suppose to be exponent) Where AVC=dollars per vacuum cleaner and Q=number of vacuum cleaners produced each month. Total fixed cost each month is $180‚000. The following results were obtained: Dependent Variable:AVC R-Square
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that a seller/ retailer must abide by once they have entered into a contract. The goods must be as described (section 13)‚ of satisfactory quality (section 14 [2]) and fit for purpose (section 14 [3]). Both section 13 and 14 have strict liability attached to them. The court will not investigate into the mind of the seller at the time or observe how much they tried but all they will look for is if there is a breach in the contract and if there is‚ the seller is liable. Section 13 states that the
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Michael R. Bohatyritz Intermediate 1 Accounting 12/1/12 For my role as a staff accountant‚ I was assigned to research the appropriate accounting for revenue treatment of construction contracts for a client‚ LabCo. In specific‚ I was assigned to oversee LabCos’ contract involving a six-axis laser-cutting machine with Halibut Co. After researching and developing a theory based on the Financial Accounting Standards Boards’ Codification‚ I have concluded that LabCos’ treatment of revenue was reasonable;
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