Backgrounds& some basic facts Contracts are a voluntary arrangement involving two or more parties which is enforced by law as a binding agreement‚ which is one of the cornerstones of our economic environment from early stage to the modern society. Several essential conditions constitute the process of forming a standard contract. In our present case‚ three parties were involved in relation of transaction. The seller is The Logomug‚ which manufacturing and selling mugs. One buyer is Sophie and another
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(1988). Construction Law: Principles and Practice. United State of America: McGraw-Hill. IBS‚ G. S. (2013). Goldsmith International Business School. Retrieved MAY 12‚ 2013‚ from http://www.goldsmithibs.com/resources/free/Breach-of-Contract/notes/Breach-of-ContractRemedies.pdf NOLO. (2013). TYpes of Contract Breach. Retrieved May 10‚ 2013‚ from LawFirm.com: http://www.lawfirms.com/resources/business/types-contract-breaches.htm Oxford University Press. (2009). Oxford‚ Dictionary of Law. United States: Market
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Ed Law 111 M-W 3:30-5:00 Assessment No. 3 Types of Remedies: Compensatory - A money award equivalent to the actual value of injuries or damages sustained by the aggrieved party. When a contract has been breached‚ the court orders the party that breached to pay the amount of direct losses done to innocent party. Consequential - Special damges that compensate for a loss that is not direct or immediate (for example‚ lost profits0. The special damages must have been reasonably
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Consideration In contract law consideration is concerned with the bargain of the contract. A contract is based on an exchange of promises. Each party to a contract must be both a promisor and a promisee. They must each receive a benefit and each suffer a detriment. This benefit or detriment is referred to as consideration. Consideration must be something of value in the eyes of the law - (Thomas v Thomas). This excludes promises of love and affection‚ gaming and betting etc. A one sided promise
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studies of unmarried committed partners there a law that determine the will of a person who die and that is the law of interstate. The result indicate that for some groups of unmarried committed partners‚ will studies may not adequately reflect the extent to which intestate decedants wish their partners to share in the estate. The statute of frauds is invoked by a defendant in a breach of contract action. If the defendant can establish that the contract he has failed to perform is legally unenforceable
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Contract consideration ~~Take a quiz on consideration~~ ~~ Try a hangman game on consideration ~~ ~~ Play the revision arcade games on consideration cases ~~ Intro In contract law consideration is concerned with the bargain of the contract. A contract is based on an exchange of promises. Each party to a contract must be both a promisor and a promisee. They must each receive a benefit and each suffer a detriment. This benefit or detriment is referred to as consideration
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The Sale of Goods Act‚ 1930 Preamble 3 of 1930 (15th March‚ 1930) An Act to define and amend the law relating to the sale of goods. WHEREAS it is expedient to define and amend the law relating to the sale of goods‚ it is hereby enacted as follows: - Chapter 1 - Preliminary 1. Short title‚ extent and commencement.- (1) This Act may be called the Sale of Goods Act‚ 1930. 2) It extends to the whole of India (except the State of Jammu and Kashmir). (3) It shall come into
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constitutes a breach of contract? Under the Merchant’s Firm Offer‚ “a firm offer exists if a merchant gives assurances in a signed writing that his or her offer will remain open. A firm offer is irrevocable without the necessity of consideration for the stated period or‚ if no definite period is stated‚ for a reasonable period (neither to exceed three months).” In this case Jennings stated a time frame and signed the offer‚ by selling the car he is he in breach of the contract?
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CERTAINTY OF CONTRACT There are two aspects to the issue of uncertainty. (1) The language used may be too vogue in which case‚ the court is likely to hold that there is no concluded agreement ‚ the contract is void for uncertainty. (2) Failure to reach agreement on a vital or fundamental term of an agreement. SECTION 30 1. Agreements‚ the meaning of which is not uncertain‚ or capable of being made certain‚ are void. * If A agrees to sell to B ‘a hundred tons of oil’ ‚ there
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Employers that do not follow their disciplinary policies‚ and related procedures‚ may get sued for breach of contract or wrongful discharge. Courts have ruled that disciplinary policies can be contracts‚ even when employers include at-will statements in them‚ if the policies contain provisions promising that the employer will follow specific disciplinary procedures. So‚ in Dillon v. Champion Jogbra‚ Inc.‚ the Vermont Supreme Court found the disclaimer printed in an employee manual was in conflict
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