of Consent Effects of Doctrines Discussed in This Chapter * Voidable: person whose consent was not real has the power to rescind (cancel) the contract * Necessity for Prompt and Unequivocal Rescission * Must act promptly and unequivocally to rescind a contract * Also avoid actions that suggest that she affirms or ratifies the contract * Send mixed messages‚ delaying the notification‚ etc. Misrepresentation and Fraud * Relationship between Misrepresentation and Fraud
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AGENCY 1. Agency Relationship Cases Definition Principal authorizes Agent to enter into legal transactions (contract) with Third Party on Principal’s behalf Agency relationship between P and A A’s obligations to P: 1. Act according to terms of appointment and within scope of authority 2. Not liable to P or TP 3. Carries out duties with care and skill‚ keep true and proper accounts 4. Cannot conflict P’s interest / act for personal gains 5. Cannot delegate whole duty to others P’s
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offeror’s actual meaning was otherwise. * Definition: indication by one person to another of his or her willingness to enter into a contract with that person on certain terms. The ‘offer’ must indicate a willingness by the offeror to be bound without further negotiation as to the terms of the proposed contract. * Offer creates in the offeree a power to create a contract by their unilateral action. * Whether a statement is an offer depends on whether the person to whom it is addressed would reasonably
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essential elements of a valid contract which provides that all agreements are contract if they are made by the free consent of the parties….” (Tulsian‚ 1998‚ p.53) “Capacity is legal power to enter into binding obligations or to enjoy the privileges of a legal status.”(Sinha & Dheeraj‚ 1996‚ p. 30) “…misrepresentation is a falsely made statement of material fact not opinion (Bisset V Wilkinson) nor future intention made by one party to another before the formation of contract intended to induce one party
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1. Which of the following is not an essential element of a Contract of Sale? a. Consent b. Subject Matter c. Delivery d. Price 2. What is the effect when all the three (3) elements of a valid contract of sale are present but there is a defect or illegality constituting any of such elements? a. Contract is Void. b. Contract is Voidable. c. Contract is Unenforceable d. Contract is Rescissible. 3. It takes place upon the concurrence of the essential elements
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Due Process of Law In our government today we have due process of law. Due process of law simply means that we have protection against a chance deprivation of life‚ liberty or property. Within the due process law‚ if you are to be accused of something it has to be under fair and reasonable circumstances. If we are ever to be arrested of something‚ under due process it commands that we are taken to court and showed a cause. It is very important that we have due process in the law for the people
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ANSWERS TO AICPA QUESTIONS CHAPTER 10 INTELLECTUAL PROPERTY RIGHTS AND THE INTERNET 1. (a) Computer software is covered under the general copyright laws and is therefore usually copyrightable as an expression of ideas. Answer (b) is incorrect because copyrights in general do not need a copyright notice for works published after March 1‚ 1989. Answer (c) is incorrect because a recent court ruled that programs in both source codes‚ which are human readable‚ and in machine readable object
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the plaintiffs wish to sue Defendant for breach of contract. This will depend on whether there is a valid contract formed in each respective case. Rules/Principle The law of contract: There must be a legally binding contract between two or more parties. On
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STAY OF PROCEEDINGS PENDING ARBITRATION: DOES IT APPLY TO INSOLVENCY PROCEEDINGS? By Bwire B. Kuboja There are two main sources of law in Tanzania Mainland regulating stay of proceedings pending arbitration namely section 6 of the Arbitration Act and section 64 of the Civil Procedure Code Act read together with the Second Schedule to the Civil Procedure Code Act. Under section 6 of the Arbitration Act‚ a party to a submission against whom a proceeding connected to any matter agreed to be
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Outcome-4………………………………………………………………….8 Bibliography………………………………………………………………...10 Outcome 1: Before describing Bill and James legal position according to their activities‚ the formation of a contract has given below in Figure 1: [pic] By the formation of contract‚ the legal position of Bill and James has been analysed as following: Invitation to Treat: When Bill said to James‚ “I may be prepared to buy ten televisions from you for £2000”. Then
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