Contract law serves as your protection in every legal agreement you make in life. Contract law makes these agreements "enforceable"‚ which usually means that it gives the party the power to compensate and obtain money damages caused by the other party due to a breach of contract. The contract itself creates an obligation or duties to do and rules to follow by both parties if either of the party fails to follow the agreement‚ remedies can be provided by law if the contract is legal and has the essential
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The common law view of pre-registration contracts was that the company did not exist for legal purposes until it had been formally incorporated (registered). This common law view resulted in company’s being unable to enter a binding contract until they had been registered. However "given the delays which can be encountered in the registration process‚ the promoter of a company may wish to enter into contracts `for’ the company prior to its incorporation" . An example of this may be a promoter
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get a group contract agreed with a group of young people going on a weekend residential‚ and explain the importance of having such a contract in place. During this assignment I will talk about the steps I would take to get a group of young people on a residential weekend to sign an agreed working agreement contract‚ and highlight the importance and benefits of having the contract in place. In my assignment I am going to mention the advantages and disadvantages of having a contract and what should
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Hobbes and the Hypothetical Contract In dealing with the problem with political authority Thomas Hobbes proposes that state’s derive their power from a hypothetical social contract that is made between a government and its citizens. It attempts to solve the problem with political legitimacy and political obligation; the right to rule and the reason citizens obey those in power. Hobbes believes that the only way to get out of a wild and unjust “state of nature” is to collectively give up some of
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MEMORANDUM TO: Dr. Doe FROM: Francis Stein‚ President Giant Drug Company DATE: 10th September 2013 RE: Consultation regarding contract Validity FACTS 1. On May 1‚ Doe signed and sent Stein the following letter: I will accept a position as vice-president in charge of research for a period of four years at a salary of $500‚000 per year. 2. On May 3‚ Stein received Doe’s letter and called Doe and stated: “Your salary request is too high. Will you reduce it to $300
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Futures contract In finance‚ a futures contract is a standardized contract between two parties to exchange a specified asset of standardized quantity and quality for a price agreed today (the futures price or the strike price) but with delivery occurring at a specified future date‚ the delivery date. The contracts are traded on a futures exchange. The party agreeing to buy the underlying asset in the future‚ the "buyer" of the contract‚ is said to be "long"‚ and the party agreeing to sell the asset
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EMPLOYMENT CONTRACTS type of contract definition permanent contract An employee who has been hired and paid directly by that employer for a position without a predetermined time limit. contract with employer period benefits yes without time limit all from employer yes time limit: date rarely‚ in NL all except pension in some cases yes time limit: date‚ task‚ project‚ by law (maternity leave f.e.) rarely yes time limit rarely no‚ work agency
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studies are concerned with the Law of Contract‚ specifically the formation of a contract and the differences between an invitation to treat and a contract. We will investigate each consumers’s specific contract or lack thereof individually and advise Bruce on his legal position. A contract is an agreement between two or more parties which in Scotland does not need to take a specific form‚ as a spoken agreement is still equally as enforceable as a written contract in certain circumstances such as in
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OPTIONAL QUESTION: Advise: (A) Mr. Neft given that Mr Browne has failed to appoint him to Chief of Police. The first issue is whether the contract between John Browne and Mr. Neft was illegal by common law. At common law an illegal contract is determined based on public policy and results in the contract being unenforceable. In the case of Enderby Town FC Ltd v Football Association‚ Lord Denning referred to public policy as an ‘unruly horse’‚ due to its broad character and its subjectivity to
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Social Contract Theory Social contract theory‚ nearly as old as philosophy itself‚ is the view that persons’ moral and/or political obligations are dependent upon a contract or agreement among them to form the society in which they live. Socrates uses something quite like a social contract argument to explain to Crito why he must remain in prison and accept the death penalty. However‚ social contract theory is rightly associated with modern moral and political theory and is given its first full
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