BUSINESS LAW. I SEM MBA ONE MRKS QUESTIONS: 1. What is void agreement Void means having no legal value and agreement means Arrangement‚ promise or contract made with somebody. So void agreement means an agreement that has no legal value. “An agreement not enforceable by law is said to be void”. [Sec 2(g)] A void agreement has no legal effect. An agreement which does not satisfy the essential elements of contract is void. Void contract confers no rights on any person and creates no obligation
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donor breaks the engagement. Pennsylvania law treats the giving of an engagement ring as a conditional gift. “ A gift given by a man to woman on condition that she will embark on the sea of matrimony with him is no different from a gift based on the condition that the receiver sail on any other sea.” If the anchor of contractual performance sticks in the sands of irresolution and procrastination‚ the gift must be restored to the donor. In this case the parties disagree‚ over whether fault
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Topic 12 1. 2. 3. 4. 5. Law of Sale of Goods (Part I) LEARNING OUTCOMES By the end of this topic‚ you should be able to: Define the meaning of goods; Describe the classification of goods; Differentiate a contract of sale and an agreement to sell; Explain the implied terms in a contract of sale of goods; and Identify the importance of transfer of property in the goods. INTRODUCTION The Sale of Goods Act 1957 (Revised 1989) is the statute applicable to sale of goods in Peninsular Malaysia. For
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Example: The issue is related to Law of Contract under discharge of frustration and impossibility of performance. The fact of the case is Chef Joe entered into a contract with Ixora Hotel to be the chief judge for a series of cooking contest organized by the hotel. Ixora Hotel has paid Chef Joe RM15‚ 000 and agreed to pay another RM15‚ 000 after the contest. However‚ Chef Joe met an accident and suffered severe injuries as for the consequences. Whether the contract between Ixora Hotel and Chef Joe
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Carrasquillo BUS 311 Business Law Instructor Naples 3 Dec 2014 I. Introduction Acme Fireworks contracts with their customers would fall under the Common Law contract‚ even though they are providing goods and services and it should be under the Uniform Commercial Code but due to high risk of injury then it falls under Common Law. Acme Fireworks has to have the five elements of an enforceable contract with their customers to be able to have valid contracts‚ if offer‚ acceptance‚ consideration
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Contract laws are governed by the common law and the Uniform Commercial Code. The difference is that common law usually governs transactions with real estate‚ services‚ intangible assets‚ insurance and employment while UCC governs contractual transactions of goods and tangible goods like a house. It’s very vital to understand their difference especially when dealing with contacts. ANALYSIS OF THE 3 CASES IN SUBMISSION 5-8 1. UCC laws will apply in Maria’s case‚ the laws states that a change to an
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the law that governs the society has to evolve as a result. This is to ensure that justice is served with effectiveness and fairness. Henceforth‚ judges play an important role towards this development of the legal system to a certain extent‚ through their decisions made within the parameters of certain doctrines that provide consistency and guidance (Lewis‚ 2012). Two such doctrines are the judicial precedent and the statutory interpretation. The judicial precedent is a major source of law that
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Business Law 101 9A 4/26/2012 Chapter 7‚ 8‚ 9 Chapter 7: Questions 1 - 5 1. What is a contract? It is an agreement that can be enforced in court. It is formed by two or more parties who agree to perform or to refrain some act in the present or the future. What is the objective theory of contracts? The intent is determined by objective facts‚ not by the personal or subjective intent‚ or belief of a party. 2. What are the four basic elements necessary to the formation of a valid
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Business Law Case Briefing COOK v. COOK Citation: The name of the case is Cook v. Cook. Rose Elsten is the plaintiff. Donald Cook is the defendant. The Arizona Supreme Court decided this case in 1984. The citation states that this case can be found in Volume 691 of the Pacific Reporter‚ Second Series starting on page 664. Facts: As Cook was finalizing his divorce‚ he and Elsten moved in together in 1969 to Arizona. They lived together for the next twelve years until 1981.They never married
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Case Study‚ Susan v The House of Lewis Outlined below is a neutral perspective on a civil law scenario. The text will include an unbiased opinion on whether Susan had any form of contract with House of Lewis Stores LTD and a personal opinion in relation to a compensation claim. Contract law and a personal interpretation will also be discussed. The presence of a contract is only determined when a certain criteria is met‚ this is what known as the elements of a contract‚ these are as follows;
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