Exams Review Test Submission: Exam 2 SKIP TO COURSE MENUSKIP TO TOP FRAME TABS Content User Justin Osborne Course ACC 440 Legal Aspects of Accounting‚ Spring 14‚ 23707 Test Exam 2 Started 2/25/14 9:31 PM Submitted 2/25/14 10:30 PM Status Completed Attempt Score 64 out of 100 points Time Elapsed 58 minutes out of 1 hour. Instructions No Printing! <script lang=”Javascript” src=”h ttp://www.eku.edu/onlinelearning/np.js”></script> Question 1 4 out of 4 points Maria holds an instrument that states
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CIDB Contract Form PAM Form PWD Form 1. Nominated Sub-Contractors a) A Nominated Sub-Contractor means a person or specialist contractor with the Contract to be employed by the Contractor for the execution of work or supply of goods materials or services for which a Prime Cost has been inserted in the Contract. a) The following provisions shall apply where P.C Sums are included in the Contract Bills or the results of given in regard to the expenditure of Provisional Sums in respect of a Person
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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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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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PROC 5860 MID-TERM EXAM 1. There are seven statutory exceptions to contract without providing for full and open competition. Select two of those authorities and discuss (in your own words) the rationale for using the exception. The Competition in Contracting Act (CICA) of 1984 requires that all acquisitions be made using full and open competition. Seven exceptions to using full and open competition are specifically identified in FAR Part 6. Written justification must be provided when
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A breach of a contract is a failure to perform it. True A court may depart from a precedent if the precedent is no longer valid. TRUE A decision on a given issue by a court is not binding on an inferior court. False A defendant is a person against whom a lawsuit is brought. TRUE A federal statute regulates an employment practice. To resolve a dispute concerning the practice‚ Paula‚ a judge‚ will most likely apply the statute. A state constitution is supreme within the state’s borders
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introduce the origins of contract law in business law. Secondly‚ briefing the basic requirement of the formation of a contract such as offer because to understand an offer is the first step in the formation of a contract. As well‚ states others formation of the contract: an intention of the parties‚ acceptance‚ legality‚ capacity and consideration roughly. The supporting example of cases will be given. Furthermore‚ I will explain how to determine the formation of a contract (conditional acceptance
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