Basic Contract Project Frances Teeter Kaplan University Professor David Rakowski PA130 March 10‚ 2015 MEMO To: Ms. Starz From: Frances Teeter Date: March 10‚ 2015 Subject: Is there a binding contract between Claire Dawn and Leonardo DeCapo in the matter of the 1965 Corvette Stingray sold by Claire Dawn? In the above subject matter‚ it is in question whether or not there is a binding contract between Claire Dawn and our client‚ Mr. Leonardo DeCapo‚ in the matter of a sale of Claire
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offer SHE CANNOT DO SO... IT DOES NOT EXIST and insisted on getting the oven at $500 as she was within the 7 day period. Siti ignored Kim’s reply and sold the oven to Magoo. THERE IS THUS NO CONTRACT BETWEEN SITI AND KIM Meanwhile Dim and Siti made a verbal agreement A VERBAL AGREEMENT CAN STILL BE A CONTRACT IF THE INGREDIENTS ARE PRESENT... that Dim would buy the other oven for $490 would take delivery 7 days later. HERE THERE IS AN OFFER AND ACCEPTANCE... AGREEMENT IS PRESENT... IS THERE CONSIDERATION
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Company. In this case Abu and Shell company signed a contract of 10 years on the basis of the statement by Shell company experts that the station would be able to sell 900 000 liters of petrol per year. The approximate amount was provided on the basis of being direct access to the service station from Main street. A decision made by the local council announced that there would be a change in the traffic dierect access ‚ Shell company continued the contract without any changes and maintained that sales would
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Contracts Summary DAMAGES – REMEDIES FOR BREACH OF CONTRACT THE INTERESTS PROTECTED Fuller and Perdue‚ “The Reliance Interest in Contract Damages” There are three principle purposes in awarding contract damages: restitution interest – object is the prevention of unjust enrichment by the defaulting promisor at the expense of the promisee reliance interest – object is to put the plaintiff in a good position as he was before the promise was made expectation interest – object is to put the
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AB1301 Business Law 2012/13 Semester 1 TABLE OF CONTENTS CHAPTER 3: OFFER AND ACCEPTANCE ........................................................................................... 1 3.1 Offer ........................................................................................................................................... 2 3.2 Acceptance ................................................................................................................................ 3 3.1 Electronic
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Course: MAN 224: Business Law College: California College San Diego Instructor: Mr. Henry Rau Student: Mr. Tyrell Wilson Subject: Week 2: Assignment 2: Chapter Review Questions: 5 thru 13 Due Date: February 5‚ 2015 @ 11:59 PM I. Chapter 5: Nature and Classes of Contracts 1. Why are contract so important to business? Answer: Contracts are extremely important in business because they form the very foundation upon which all modern business rests. 2. Name the five requirements
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An agreement must contain four essential ingredients to be regarded as a contract. These four elements are offer‚ acceptance‚ Intention of legal consequences‚ and consideration. If any one of them is missing‚ the agreement will not be legally binding. An offer is defined as the manifestation of the “willingness to enter into a bargain so made as to justify another person in understanding that his assent to the bargain is invited and will conclude it.” There must be a definite‚ clearly stated offer
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a valid contract is that it complies with all of the legal requirements for a contract. There are several types of contracts. First is a unilateral contract‚ which is one that only one of the parties involved makes the promise. The other party involved would than act in return for the promise stated. A bilateral contract is when both partied make a promise. An implied contract is when there are surrounding circumstances along with facts‚ which show that a promise was created. A contract is not executed
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Heavy Trucks Ltd for the delivery of five trucks costing $950‚000. Laws To interpret these issues‚ this paper will consider section 126‚ 128(1)(4) and 129 of the Corporation Act 2001 (Cth) as well as the Turquand rule of internal management in common law. Section 126 stated that a firm could exercise the power to make‚ ratify and discharge a contract through an agent. In other words‚ the company will be liable for contract entered into by its agents on the behalf of the firm if the agent has
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4. NOTES 4.1. THE ESSENTIALS OF A VALID CONTRACT A. ESSENTIAL No 1 The Parties Must Act Within Their Contractual Capacity What is contractual capacity? We view it in relation to the concepts of personality and legal status: PERSONALITY – determines that you are a legal entity or persona. As a result of this personality you acquire legal status ie your legal status defines that legal personality further. STATUS then describes your legal “condition” eg a married woman‚ A public
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