Tutorial 8 1. The contract provides that for every day of delay in completion of a commercial building‚ damages of $1000 are payable. The completion is delayed by 20 days due to the fault of the contractor. How much can the innocent party claim if the actual loss suffered is $22‚000? Do you think generally‚ it is wise for a business to always have a liquidated damages clause? 2. At Your Service Pte Ltd is a big company which provides various travel related services‚ including overseas tour
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Jeremy. The contract between Widgets plc and Crankit is a contract for service‚ under the SGSA 1982; this means that it applies to contracts for work and materials‚ also if the service done was careless. a) When carrying out the first annual service‚ Crankit fits a new fuel pump. This malfunctions 24 hours later‚ causing an explosion. Injuries result to Jeremy‚ who lives next door to the factory and the explosion also causes business interruption for 3 weeks. Contract of works and
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Damages Damages are normally an award of money. Goal: to put the parties into the position they would have occupied had the contract been performed. For example‚ I offer you a car for £100. You accept. I take back my offer and refuse to sell you the car. You buy a comparable car from someone else and must pay £150 for a comparable car. You may sue me and the court may award you £50 in damages. The court does so to put you back into the financial position you would have had if I had kept to our
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Is Hoselton correct? No‚ the buyer is given the opportunity to inspect the goods. If problems arise over “in accordance with the contract” usage of trade‚ the course of dealing and performance and general circumstances must be given consideration to help determine the meaning of these words (UCC 2-302). If the goods or the delivery fails to conform to the contract‚ there is no duty on the part of the buyer to accept or pay. 6) Under what circumstances will Saxby not be able to recover the price
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provision; but she may have an action for damages if the amendment (or dismissal without the amendment) is a breach of contract. However‚ H may not have an enforceable contractthere is no difficulty if she has a service contract independent of the articles (which is improbable) but‚ if she wishes to rely on the articles as providing the contract‚ she faces two difficulties. First‚ a contract based on the articles changes if the articles are validly altered (Read v Astoria Garage (1952)); and‚ secondly
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relevant facts that fraud invalidates a contract. “The existence of fraud disrupts the honesty of the unknowingly person’s permission/agreement to a contract. When a person unknowingly goes into a terms of a contract‚ the agreement normally can be avoided since he or she didn’t freely come to agreement with the terms. Normally‚ an unknowing person has a choice terminate the contract all together and return to their beginning place or proceed with the contract and seek damages for harms resulting from
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……………………………………………………………………8 Task 3 …………………………………………………………………...9 Conclusion……………………………………………………………… 10 References………………………………………………………………. 11 INTRODUCTION In Assignment 1 in Common Law the basic notions relevant to business activities will be viewed. The purpose of this assignment is to apply basic theoretical knowledge of common law to day-to-day business practice. In this assignment particular cases will be considered from the legal standpoint. Legal aspect has always been important to any kind of business
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Was the Contract between Joel King and Barber bilateral or unilateral? The basic premise of determining whether a contract is either bilateral or unilateral is a consideration‚ which implies a legally binding action for the accomplishment of an agreement. In addition to consideration‚ the promise to execute a contract must involve either one of the parties making offers and the other consenting. Moreover‚ for an agreement to be considered valid in any court of law‚ it must legitimate‚ mutually beneficial
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the Law of Contract the phrase “mistake” & “Misrepresentation” is applied when one or both parties of a contract act under a false or mistaken understanding. Mistake can be defined by Pendleton ‚ Vickery (1998)‚ [1] as; ➢ A misunderstanding regarding a fact‚ causing one or more parties to hold disagreeing beliefs about the foundation of a contract. Mistakes can be made in the form of a contracts subject matter or as a mistake of identity. There are 3 different types of mistake in Contract Law
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Contract of Sale. By the contract of sale one of the contracting parties obligates himself to transfer the ownership of and to deliver a determinate thing and the other to pay therefore a price certain in money or its equivalent. |Contract of Sale |Contract to Sell | |Title over the property passes to the buyer upon delivery unless |Ownership is retained by the seller whether or not there is |
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