Aspects of contracts and negligence in business Task 1 and 2 Unit 5 Lecturer: Mrs. Eunice Wahito Done by: Kaunain Assaria Table of contents Validity of contacts………………………………………………………………………….3-4 Types of contacts………………………………………………………………………….....5-7 Elements of a contract……………………………………………………………………....7-10 Consideration……………………………………………………………………………….10-11 Warranties and conditions…………………………………………………………………12-14 Law of tort……………………………………………………………………………………..15 Fault principle………………………………………………………………………………16-17
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petitioners Yolanda Rosello-Bentir and the spouses Samuel and Charito Pormida. The case was docketed as Civil Case No. 92-05-88 and raffled to Judge Pedro S. Espina‚ RTC‚ Tacloban City‚ Branch 7. Respondent corporation alleged that it entered into a contract of lease of a parcel of land with petitioner Bentir for a period of twenty (20) years starting May 5‚ 1968. According to respondent corporation‚ the lease was extended for another four (4) years or until May 31‚ 1992. On May 5‚ 1989‚ petitioner Bentir
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Tort Liability and Contract Liability A tort is a legal term for "a wrong." The "tort law" is composed of state statutes and court decisions that gives one the right to sue someone who causes harm to them‚ whether it’s a drunk driver‚ a corporation that manufactures a defective product‚ a credit card company that overcharges you‚ or a government bureaucrat that breaks the law or a school official such as a teacher or principal. The law of the state in which the school is located determines a school’s
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Imraan Steyn and Vernon Parnell entered a contract of sale (orally)‚ where Steyn sold his white BMW to Parnell. Both agreed on a purchase price of R10 000. Parnell briefly inspected the interior and exterior of the car and started the engine‚ he approved of the car and decided to buy the car. Parnell paid the full purchase price of R10 000 to Steyn. Later that week‚ Parnell experienced major problems with car when the engine fell out‚ he had his mechanic inspect the car. The mechanic found that the
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BUS201 Contract and Agency Law Group Based Case Study Bai Kailin Q0806156 Question 1 A tender is also considered as an offer. Tenders refers to a process by which one can seek prices and terms for a particular project (such as a construction job in this case) to be carried out under a contract. The sealed offers themselves‚ including company information‚ a project outline‚ and a price quote‚ are known as tenders or bids. Since Beng Huay Construction Pte Ltd submitted the most competitive
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Acceptance in Making Business Contracts Dr. Md. Abdul Jalil Associate Professor of Law Department of Business Administration‚ Faculty of Economics and Management International Islamic University Malaysia (IIUM) E-mail: abduljalil@iiu.edu.my‚ abd_jalil2@yahoo.com Abstract Business firms and Business corporations enter into thousands of contracts everyday. Making a formal and written contract is very important for business corporations and firms although oral contracts are accepted and recognized by
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3. Contract Law “Is My Agreement an Enforceable Contract?” The Law of Contract involves answering 4 questions: (1) Is my agreement an enforceable contract? Are all of the elements of a contract present. (2) If so‚ what does it require me (and the other party) to do? - What “promises” have become terms of the contract. (3) Can I get out of it (without paying some form of penalty)? - Was the formation of the contract defective in some way (ie were there any ‘vitiating elements’ present)
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the terms outlined in a contract until they find themselves at the receiving end of litigation. In addition‚ they do not recognize that a contract can be established with as little as a verbal agreement between parties which can‚ as with a written contract‚ become the basis to award damages in the event that one or more members default on the agreement. When individuals make purchases they form contracts with the entity whose business they patronize. Formation of a contract for sale need only entail
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Introduction To Contract Law: A contract is ’a promise or set of promises which the law will enforce’ (Pollock Principles of Contract (13th Edn) 1). The expression ’contract’ may‚ however‚ be used to describe any or all of the following: 1. that series of promises or acts themselves constituting the contract; 2. the document or documents constituting or evidencing that series of promises or acts‚ or their performance; 3. the legal relations resulting from that series. A contract may be defined
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For other uses‚ see Common law (disambiguation). Common law‚ also known as case law or precedent‚ is law developed by judges through decisions of courts and similar tribunals‚ as opposed to statutes adopted through the legislative process or regulations issued by the executive branch[1]. A "common law system" is a legal system that gives great precedential weight to common law‚[2] on the principle that it is unfair to treat similar facts differently on different occasions.[3] The body of precedent is
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