Generally‚ the agency relationships arises in commercial transactions‚ partnership and employment. The term “agency” in commercial law is represented in the Latin phrase‚ qui facit per alium‚ facit per se‚ i.e. the one who acts through another‚ acts in his or her own interests. In terms of agreeing an Agency Contract between the parties‚ tThe Robert Barry & co. v Terence Robert Doyle and another 1998) case illustrates the use of oral communications in commercial contracts which has binding effect to the
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The University of Baltimore Law Review University of Baltimore Law Review Summer‚ 1997 26 U. Balt. L. Rev. 1 LENGTH: 2902 words SYMPOSIUM: Developments in International Commercial Law: AN INTERNATIONAL RESTATEMENT: THE UNIDROIT PRINCIPLES OF INTERNATIONAL COMMERCIAL CONTRACTS NAME: E. Allan Farnsworth * BIO: * Alfred McCormack Professor of Law‚ Columbia University. B.S.‚ 1948‚ Michigan; M.A.‚ 1949‚ Yale; J.D.‚ 1952‚ Columbia University; LL.D.‚ 1988‚ Dickinson College of Law; docteur honoris causa‚ University
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subject to the Commercial Activity Tax (CAT). The test states that companies with no connection to Ohio at all are still subject to the CAT if they have sales in the state totaling at least $500‚000. The “factor presence test‚” which has now come to be referred to as an “economic nexus” standard‚ makes it clear that there is no need for companies to have any physical connection with the state. However‚ three out-of-state sellers with no physical presence in Ohio‚ Crutchfield‚ Inc.‚ Newegg‚ Inc
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Case Study 1 Ebbers vs. Central Apartments Ltd. In this case Central Apartments Ltd has borrowed $800‚000 from exchange bank and secured the loan by a five year mortgage on the apartment building. Since the bank required additional security the president of the corporation at the time named Ebbers personally signed the guarantee. This makes Ebbers the guarantor and responsible for the debt if the principle debtor‚ Central Apartments Ltd‚ should default in the payment of their debt. Ebbers who
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substantial – the principle of law is found in the precedence called the ratio decidendi: the narrowest and necessary legal principle upon which a legal decision was based. This is the aspect of the case that binds future courts and must be followed. 2) Structural: what precedent cases must be followed. Rupert Cross wrote a book called “precedence in legal law” and described the structural component of the stare decisis as “every court is bound to follow nay case decided by a court above it in
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Question 1 The UK Rail vs. Smithfileld case is a striking example of the term – Agency of Necessity. This is the case when‚ in certain circumstances‚ the agent is allowed by law to take actions on behalf of the principal without the will‚ knowledge or any other representation of the principal. However‚ certain requirements have to be met‚ in order for the agent to claim that it acted out of necessity: 1) the actions have been taken for the reason of compelling emergency; 2) impossibility
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neutral third party or panel of experts hears a dispute and imposes a resolution of the parties” (Miller & Jentz‚ 2008‚ p.50). However‚ both parties must sign and agree to the above statement for it to be acknowledged as a legal judgment. In the case of Thomas Baker and Osborne Development Corporation it gets a little bit more involved. For starters‚ Osborne Development purchased the home warranty program administered by Home Buyers Warranty and signed the agreement of arbitration with them.
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COMMERCIAL LAW FEEDBACK EXERCISE The issue in this case is whether there is misrepresentation or breach of contract. The distinctions between the two legal issues of misrepresentation and breach of contract are dependent on whether the pre-contractual statement was made on the basis of a representation‚ or on a promise or obligation to be fulfilled. Breach of contract is a legal cause of action in which a binding agreement or bargained-for exchange is not honored by one or more of the parties
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Discussion Question 1. On 1 Jan 2009 a V and P entered a standard form contract for sale of property in SYD‚ with special condition that the “sale is subject to P completing the sale of his existing home in Brisbane by 1 June 2009” but no time for completion is specified and clause 29 of 2005 Standard Form is deleted. (Standard Form: completed with in 42 days of existing contract/ exchange of contract? Hence the qtn scenario means it’ll be deleted.) Is there a binding contract for SYD before
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NEGLIGENCE According to common law‚ “negligence is defined as a conduct that fall below the standard of care necessary to protect other from unreasonable risk of injury”. The legal issue is whether […….] can successfully sue […….] for negligence. In order to know whether the defendant commit negligence or not‚ 4 elements must be satisfied‚ including 1) Duty of care (DoC)‚ 2) Breach of the DoC‚ 3) Causation and 4) Remoteness. 1) DUTY OF CARE Case 1: PHYSICAL INJURY: The first element to be proven
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