081-AC1221-60 Company Law ASSIGNMENT ONE The case concerns the pre-incorporation contracts. Firstly‚ it is necessary to define the pre-incorporation contracts. They are the contacts which the promoter wants to enter the contract before a company is incorporated. Under Common law position‚ the company cannot gain contractual rights or incurs liabilities from a pre-incorporation contract. Also; the pre-incorporation contracts cannot bind the company. In this case‚ Bosco is the promoter who
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CONSIDERATION A. Legal Sufficiency 1. Adequacy 2. Unilateral Contracts 3. Bilateral Contracts 4. Illusory Promises a. Output and Requirement Contracts b. Exclusive Dealing Contracts c. Conditional Promises 5. Pre-existing Obligation a. Modification of a Pre-existing Contract b. Substituted Contracts c. Settlement of a Undisputed Debt d. Settlement of an Disputed Debt B. Bargained-For-Exchange 1. Past Consideration 2. Third Parties C. Contracts without Consideration 1. Promises to Perform Prior Unenforceable
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general offer? How is a contract created through general offer? Refer to leading cases. An offer may be made to the world at large. Such an offer is a general offer. However‚ a contract is not done with the whole world but only with the person who comes forward and accepts the offer. The acceptance might be express or implied. As per Anson‚ "An offer need not be made to an asertained person‚ but no contract can arise until it is accepted by an ascertained person". Case of Carllil vs Cabolic Smoke
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in contract and is seeking damages of $30‚000 which he believes is the outstanding amount that is owed to him by J. This case touches on the fundamental concepts of contract law where H can only claim damages if the formation of a valid contract between the two parties is evident via the elements of a contract‚ including intention‚ agreement‚ consideration‚ legal capacity‚ genuine consent and legality of objects must be established. Once these elements are satisfied‚ the terms of the contract need
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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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Lecture 8 Law of Contract: Genuine Consent INTRODUCTION Although the contract may have the essentials of a valid offer‚ acceptance‚ legal intentions and consideration‚ its validity or enforceability may be affected by a number of factors. The agreement may be wanting in genuine consent between the parties. That is‚ although the parties may appear to have reached an agreement‚ it may not have been genuinely achieved because of misconduct‚ pressure‚ unfairness‚ or fear by those involved
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Question 1. Outline and describe the ways in which an Agency Contract may be established. Agency According to Nicole Busby‚ an agency is a contractual relationships that entitles one party to act on behalf‚ or in favour of‚ the other party in contractual arrangements with a third party. In this regardthese circumstances‚ the former is known as an “agent” and the entity on whose behalf the agent performs is called a “principal”. Generally‚ the agency relationships arises in commercial transactions
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Electronic contracts & the Indian law This document is an extract from the book Ecommerce - Legal Issues authored by Rohas Nagpal. This book is available as courseware for the Diploma in Cyber Law and PG Program in Cyber Law conducted by Asian School of Cyber Laws www.asianlaws.org Ecommerce - Legal Issues 4. Electronic Contracts Contracts have become so common in daily life that most of the time we do not even realize that we have entered
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CONCEPTS IN THE LAW OF CONTRACTS Contracts are essential to business. They are a legal mechanism used in every industry and every part of the world to structure relationships among firms‚ and with customers‚ partners‚ and suppliers. Over several centuries‚ the law governing contracts has developed a large number of doctrines. Most are consistent with common sense‚ but unless you know what the rules are‚ you can easily make a mistake. This document introduces the fundamentals of contract law most relevant
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Tort Law Reading Notes Week 1 Mon Sep 8 Damages pp697-729 - aim of damages: restore plaintiff to position he would have been had the wrong not occurred o as this is impossible in cases of personal injury‚ monetary compensation is used o total amount is the amount that will release the target amount over the given span of years - assessment is a matter if calculation‚ not impression (SCC 1978) - 3 probs: o 1) what kinds of items must a defendant compensate
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