Recognizing Contract Risk and Opportunities Ebel M. Aquino LAW/531 Sunday‚ June 21‚ 2015 Prof. Israel Camacho-Alicea Risks and Opportunities To do business you always have to measure the risks and opportunities to avoid bad losses resulting from bad operational business practices and poor contract execution. And in this case‚ Puerto Rico is no exception. The Civil Code of Puerto Rico establishes in Article 1213 Contract requirements (31 LPRA § 3391.) But no contract is effective unless the following
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OBLIGATIONS AND CONTRACTS Book IV‚ New Civil Code of the Philippines Title I‚ Obligations – Article 1156 to 1304 Title II‚ Contracts – Article 1305 to 1430 Outline of Topics: Obligations (Prelim-Midterm) Chapter 1- General Provisions Art. 1156-1162 i – Definition of Obligation ii – Sources of Obligation Chapter 2 – Nature and Effect of Obligation – Art. 1163-1178 - Obligations of Debtor - Rights of Creditor - Breaches of Obligation - Liabilities of Debtor - Remedies of Creditor -
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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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Contract Administration Best Practices Diana Thomas University of Phoenix Law/531- Business Law August 23‚ 2012 Trina Eaddy Introduction This essay will examine how to best prepare a contract administration plan. The contract administration plan will examine different methods used in preparing a plan. This essay will explain how important it is to have technical and other support of personnel‚ the importance of surveillance‚ and to determine
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Drew Brees Contract and Its Elements Contract and Its Elements A contract is an agreement between and offeror‚ and an offeree‚ that can be enforceable by a court of law or equity (Cheeseman‚ 2010). A contract consists of the following elements; agreement‚ consideration‚ contractual capacity‚ and lawful object. Understanding each of these elements is of the utmost importance to ensure that each party involved has a good understanding of what is expected from one another. Furthermore‚
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Aspects of Contract and Negligence for Business Introduction: A contract between two parties is important for making any agreement. But not any agreement is contract. When there is an enforcement of law in an agreement‚ it converts into contract. There are many formalities to make a contract. Everything is not done when a contract is made. There may exist negligence either one party or both. For the negligence occurred one party‚ liability is imposed on another party. The law of tort differs from
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hours in advance. Failure to do so can impact this contract leading up to cancelation of said contract. You will provide your own vehicle keeping it in good maintenance‚ gas‚ cell phone and internet access for the purpose of doing said work. Term of this contract is valid from the date signed for a period of 1 year. Contract may be cancelled from signee if given in writing a 15 day notice of intent to quit. The company may terminate this contract immediately with good reason written and delivered
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M1: ANALYSE THE IMPACT OF THE REQUIREMENTS FOR A VALID CONTRACT IN THE GIVEN SITUATION Breach of contract in the case of a private sale In the Westshire Times on 2 September there was an advertisement to sell a 1998 Porsche 911 for £21‚000. The advertiser was Jamal‚ giving a contact address. On 7 September Bob wrote to Jamal stating that he was interested in buying the car for £20‚000. On 9 September Jamal wrote back to Bob stating that he could not sell the car for less than £20‚500. On
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In today’s English law‚ freedom of contract is one the foundation of contract law. The existence of freedom of contract requires three main considerations: the freedom to contract or not to contract‚ the freedom to choose with whom to contract‚ and the freedom to decide the terms of the contract. Thus parties are totally free to engage or not to engage in agreements. However‚ freedom of contract can fail to have the desired or expected effect in contracts where power relations are not equal. The
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Explain the effect terms in a contract. Implied terms are not stated in a contract but are introduced in a contract by a statute. 1. The handset will correspond with description supplied at the time of sale. This is an implied term by the sales of good act as it has to correspond with the description on the box. Also statute would protect the customer and it should be what is said on the box. The sales of good act states where there is a sale of good by description there is an implied
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