Current Location 1. Business Law BUL1240G1-109012014 2. Week 2 3. Midterm exam 4. Review Test Submission: Week 2 Midterm exam Menu Management Options Course Menu: Business Law (BUL1240G1-109012014) Meet Your Instructor Homepage Syllabus Student Resources Program Resources Discussion Keiser Live! Email Start Here Week 1 Week 2 Week 3 Week 4 Gradebook Groups Tools Help Review Test Submission: Week 2 Midterm exam Content User Suzette
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– OCTOBER SEMESTER 2012 STUDENT NAME: CHU THI HONG TUYEN ID No.: 2448481 BMLW5103 – BUSINESS LAW ASSIGNMENT Question 1 Discuss the enforceability of an agreement which lacks consideration. Using legal authorities (relevant statutes and cases) to support your discussion. Answer: A valid contract is an agreement made between two or more parties that creates rights and obligations that are enforced by law. What does the consideration mean? And what does it effect to the agreement? Consideration is
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consideration is irrelevant because the law does not prohibit bargains. 5. Is there consideration when a secured note for a lesser amount is given and accepted in discharge of an unsecured note for a greater amount? Explain. No‚ because if a secured not for a lesser amount is given and accepted in discharge of an unsecured note for a greater amount‚ the difference between the two notes is discharged. The security is the consideration to support the contract to settle for a lesser sum. 6.
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behind on their mortgage payments‚ they entered into an oral contract to sell the house to Winfield and Emma Sackett if the Sacketts would pay the three months’ arrearages on the loan and agree to make the future payments on the mortgage. Mrs. Briggs and Mrs. Sackett were sisters. The Sacketts paid the arrearages‚ moved into the house‚ and continued to live there. Fifteen years later‚ Robert Briggs filed an action to void the oral contract as in violation of the Statute of Frauds and evict the Sacketts
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PRESENTATION ON CASE. Paul‚ a contractor‚ owned a corner shop where he ran a news agent stand and a tobacconist business. Neil advertised the business and premises for sale. Having seen the advertisement‚ Jenny visited the premises from which she lived 20 minutes away and was told by Paul that the purchase would be the best bargain in town and that the profits were 40‚000 pounds per annum‚ and that if she didn’t believe him she should look at the accounts which she declined but had she done so
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agreement and the proceedings after the breach of contract between two parties: Trans Trust SPRL versus Danubian Trading co. The agreement was about the sales of 1‚000 tons of rolled steel sheets which were supposed to deliver FOB in Antwerpen on 1950. Due to this agreement there got another party involved; the American company S.A.Azur‚ which was a wholesaler for the manufacturer‚ S.A. Metallurgique d’Esperance Londoz. Because of the contract‚ the seller ordered a sufficient amount of steel from
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2nd of feb CASES MALLIK V BCC: Malik and Mahmud v Bank of Credit and Commerce International SA [1997] UKHL 23 is a leading English contract law and UK labour law case‚ which confirmed the existence of the implied term of mutual trust and confidence in all contracts of employment. Facts: Mr Malik and Mr Mahmud both worked for the Bank of Credit and Commerce International. BCCI went insolvent due to massive fraud‚ connection with terrorists‚ money-laundering‚ extortion and a raft of other criminal
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Formation of the contract Terms of the contract Transfers of the property Transfer of the title Performance of the contract Remedies for breach 1.1 Definition of Goods Sale of Good Act 1957 defines the word goods as meaning ‘every kind of movable property other than actionable claims and money‚ and includes stock and shares‚ growing crops‚ grass and things attached to or forming part of the land which are agreed to be severed before sale or under the contract of sale. By virtue
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Section A Question 1) a) In the case of Donohue v Stevenson[1]‚ Donohue won the case. The ratio decidendi in the case was that the liability of negligence did not depend on the contractual relationship and that Stevenson owed the duty of care to Donohue as a manufacturer‚ not to cause foreseeable injuries to the users of the products. As there was an owed duty‚ Stevenson failed to practice the appropriate standard of care and in turn‚ the negligent act had caused the injuries to Donohue. Therefore
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Principles of Law Section 2 of SGA "Every kind of movable property other than actionable claims and money‚ and includes stocks and shares‚ growing crops‚ grass and thing attached to or forming part of land which are agreed to be severed for sale or under the contract of sale" Section 15 of SGA If the contract is for the sales of goods by description‚ there is an implied condition that the goods must correspond with the description. Case: Moore & Co v Launder Facts: Contract for 3‚100 cases of canned
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