Law of Agency WHAT IS AN AGENCY? Sec 135 of Contract Act‚ agency is the relationships which subsists between the principal and the agent who has been authorized to act for him or represent him in dealings with others. WHO CAN BECAME A PRINCIPAL OR AGENT? Any person who is 18 years old and above and who is of sound mind may be principal. As between the principal and third persons‚ any person can became an agent. BUT persons of unsound mind and who are below 18 years are not liable towards their
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Current Location 1. Business Law BUL1240G1-109012014 2. Week 2 3. Midterm exam 4. Review Test Submission: Week 2 Midterm exam Menu Management Options Course Menu: Business Law (BUL1240G1-109012014) Meet Your Instructor Homepage Syllabus Student Resources Program Resources Discussion Keiser Live! Email Start Here Week 1 Week 2 Week 3 Week 4 Gradebook Groups Tools Help Review Test Submission: Week 2 Midterm exam Content User Suzette
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Business Law Tutorial 6 1. Void contract is defined in Section 2(g) of Contracts act‚ 1950 as an agreement which is not enforceable by the law‚ which gives rise to no rights or obligations. Under Section 11 of Contracts Act‚ 1950‚ every person is competent to contract who is of age of majority‚ and who is of sound mind and is not disqualifying from contracting by any law to which he is subject to. The Age of Majority Act‚ 1971 states that the age of majority is 18. The Privy Council in MOhori
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al Frustrated contracts A contract may be discharged by frustration. A contract may be frustrated where there exists a change in circumstances‚ after the contract was made‚ which is not the fault of either of the parties‚ which renders the contract either impossible to perform or deprives the contract of its commercial purpose. Where a contract is found to be frustrated‚ each party is discharged from future obligations under the contract and neither party may sue for breach. The allocation of
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2.3 Impact of Different Types of Contracts The agreement was binding. The Court of Appeal distinguished the case of Balfour v Balfour (HPH 202) on the grounds that the parties were separated. Where spouses have separated it is generally considered that they do intend to be bound by their agreements. The written agreement signed was further evidence of an intention to be bound.. In this case of husband and wife is a domestic agreement‚ they jointly owned a house. Husband left to live with another
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wCASE LAW * STILK v MYRICK (Law Of Contract: Rules of Consideration-m/s 18) Facts: the captain of a ship promises his crew that if they shared between them the work of two seamen who had deserted‚ the wages of the deserters would be shared out between them. Held: the promise was not binding because the seamen gave no consideration. They were already contractually bound to do any extra work to complete the voyage. * HEARTLEY v PONSONBY (Law Of Contract: Rules of Consideration-m/s 18) Facts:
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Contract: a legally enforceable agreement General Rule (GR) for an agreement to be legally enforceable‚ following requirements must be satisfied: 1. There is an agreement between the parties (2 or more persons) 2. The parties intended to create legal relations 3. Each party has provided consideration‚ that is‚ paid a price or made a promise GR for an agreement to be formed: 1. One person (the offeror) has made an offer 2. Another person (the offeree) has accepted the offer 3. The offeree
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where relevant. ISSUES Is Bob liable to Mary and to what extent? Does Bob have any defenses? Is Tom liable to Sam and to what extent? LAW In this case we are dealing with tort law and more specifically negligence in tort law. Negligence in tort law requires the plaintiff to prove the following: * The defendant owed a duty to the plaintiff (or a duty to the general public‚ including
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1. How do you distinguish between an offer and an invitation to treat? The word ‘proposal’ bears the same meaning as ‘offer’ in English law. Offer is an agreement between two or more parties is constituted by a proposal and an acceptance of it. An offer is made ‘when one person signifies to another his willingness to do or to abstain from doing anything‚ with a view to obtaining the assent of that other to such act or abstinence’. For instance‚ thus A‚ by offering to buy B’s car for $10‚000
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What is a contract? A contract is an agreement enforceable by law. 2. What is an agreement? An agreement is an arrangement between parties that creates legal obligations between them. Generally an agreement is said to be arrived at when an offer or proposal made by one person is accepted by another‚ with the intention of creating mutual obligations between them. 5. What are the essential features of a contract? Minimum two parties :- Atleast two parties are needed to enter into a contact
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