Must You Point Out Misunderstandings During Negotiations to Your Counterparty? January 25‚ 2012 In Daventry District Council v. Daventry & District Housing Ltd [2011] EWCA Civ 1153‚ the Court of Appeal rectified an agreement for common mistake even though one party arguably did not intend to enter a contract on those rectified terms. The problem arose because the parties and their lawyers were at cross purposes on an important point during negotiations. The only person aware of the differing
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CHAPTER 21: WARRANTIES AND PRODUCT LIABILITY A warranty is an assurance by one party of the existence of a fact on which the other party can rely. WARRANTIES: Several types of warranties: (1) warranties of title‚ (2) express warranties‚ (3) implied warranties. 1. WARRANTIES OF TITLE: 3 types of title warranties- good title‚ no liens‚ and no infringements-can automatically arise in sales and lease contracts. Sellers warrant they have good and valid title; if buyer learns they don’t the buyer can
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1. Infrastructure‚ building and construction contracts often contain so called “termination for convenience” provisions‚ operating independently of breach‚ default or frustration. Termination of a contract has been considered as the legal consequence of certain kinds of breach‚ repudiation or frustration. Frustration is automatic. Breach and repudiation arise where default has occurred. 2. Provisions for termination at the convenience of‚ or at the will of the contracting parties‚ or any one
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domestic transactions were unsuitable. Two critical features of the letters of credit‚ resulted in it being considered as the best alternative. 1. The principle of Autonomy of the Letter of Credit 2. The doctrine of Strict compliance Doctrine of Strict Compliance According to the doctrine of strict compliance‚ banks are bound to pay the beneficiary the amount due under the credit upon the presentation of documents as mentioned in the letter of credit. Autonomy of the Letter of Credit According
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contract was made with someone of diminished capacity or for illegal purposes‚ a contract can be unenforceable. Some other examples of potential defenses to enforcement of a contract are mutual or unilateral mistake‚ duress or undue influence‚ unconscionability‚ misrepresentation or fraud‚ impossibility or impracticability‚ and frustration of purpose. Mutual or Unilateral Mistake There are two types of mistakes in contract law: mutual mistake and unilateral mistake. When there is mutual mistake‚ both
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LEGT 1710 BUSINESS AND THE LAW Lecture 11 Consumer Protection This week Consumer Protection • Consumer Law - the statutory provisions: Unconscionable conduct Misleading or deceptive conduct False representations • Defences • Remedies • No refunds © 2013 The University of New South Wales Sydney 2052 Australia The original material prepared for this guide is copyright. Apart from fair dealing for the purposes of private study‚ research‚ criticism or review‚ as permitted under the Copyright
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Introduction: Focus only on the promise you are attempting to enforce. A. Definition: Contract law is an enforcement of a single promise‚ not an agreement at whole. a. Contract law is state law. It is common law by default‚ unless a statute has been passed covering the issue. Right to contract is guaranteed primarily by common law and some statutes‚ NOT by the constitution. Our law does not recognize any natural right to freedom of contract or economic activity. B. Sources of
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contract be considered unconscionable within the meaning of UCC § 2-302 based on the price that was charged by the plaintiff? In other words‚ can gross inadequacy between an item’s value and its purchase price be used by courts to determine the unconscionability of a contract? What is the court’s reasoning? The Court ruled that “under the circumstances of this case‚ the sale of a freezer unit having a retail value of $300 for $900 ($1‚439.69 including credit charges and $18 sales tax) is unconscionable
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Genuine Consent For contract to valid ‚ both party must genuinely consent ‚ or agree to the contract 1. Unconscionability 2.Duress 3.Undue Influence 4.Mistake 5.Actionable Misrepresentation * Unconscionaboility ( extremely unfair ): Both pt need to have equal power BUT Only 1 pt has superior bargaining power . The other pt has special disability and pt enter to the one-sided ‚ take it or leave it ‚ unfair -- the court decide the contract was unconscionable ( unfair) ++ Special disability
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ASSIGNMENT- BMLW5103 BMLW5103 VIETNAMESE BUSINESS LAW MID-TERM ASSIGNMENT ALL SIX QUESTIONS are compulsory and must be attempted QUESTION 1 (a) (b) Discuss the division of powers amongst the State bodies of Vietnam. Discuss the hierarchy of legal documents within Vietnamese legal system and State authorities to adopt or issue them. [TOTAL: 20 MARKS] QUESTION 2 (a) (b) Explain the conditions of the issuance of business registration certificate. Explain the provisions of law
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