In the business world‚ people need to comprehend the business law and legal work that applies for all their business activities. Each decision that many industries makes must be considered from a legal point of view in order to ensure that it avoids severe lawsuits and satisfies the law. It is‚ especially‚ essential for people to understand the law applications that goes into a situation because there are many cases where there are various laws included in the matter. Because of those various laws
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BUSINESS LAW EXAM1 1. One rule that emerges from the social contract is that people should never make unsupported judgments about one another but should instead always investigate the facts in an effort to uncover the truth about the character of a person or the nature of a situation. 2. utility thinking. 3. there are no objective or absolute standards of right and wrong. 4. utility thinking. 5. ethics. 6. If the social contract disintegrates‚ society would return to a "state
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w 1. | | | In deciding a case‚ a court will not use common law if there is a statute that applies to the dispute. | | Student Response | Value | Correct Answer | False | 0% | True | | Score: | 0/2.5 | | | 2. | | | Dicta is another term for “controlling precedent.” | | Student Response | Value | Correct Answer | False | 100% | False | | Score: | 2.5/2.5 | | | 3. | | | One of the important powers of courts in the United States is to
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Steven Westgate BUS345.01 Business Law I Chapters 9‚ 10‚ 11‚ 12‚ 13‚ 14‚ 15‚ 16‚ 17‚ and 18 Professor Sappington November 3‚ 2003 1) This would indeed be a contract called an implied-in-fact contract. This is a contract that is implied from the conduct of the parties. Unlike other contracts‚ the contract was created through the conduct of the parties‚ not through words. This is what Miller and McCleskey have done. The parties both agreed through their
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unlike any other known competitors. The business is currently experiencing legal issues and is in need of updating its policies and practices; the café has recently joined the small business federation and have been assigned with legal advisory for best practices on contractual and consumer matters. The Games Cafe needs to improve on how it regulates business operations by adapting suitable policies and practices in order to legally protect the business and help it to operate more effectively
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Business & Company Law – ’11-’12 – Question 1 Introduction: Whenever a contract is to be formed‚ there are certain elements which should meet the requirement in order for it to be established. They are offer‚ acceptance (agreement)‚ consideration and intention. * Definition: Agreement – Is formed when an offer is made and accepted. * Communication: Must be communicated * Except in the case of a unilateral contract. * Two types of Communications: * Instantaneous
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Luis Armendia October 3‚ 2004 BUSINESS LAW UNIT ONE AND TWO QUESTIONS 1-4. Which source of law takes priority in the following situations‚ and why? a) A federal statute conflicts with the U.S. Constitution. A. CONSTITUTONAL LAW. Article VI‚ the Constitution is the supreme law; a law in violation of the Constitution will be declared unconstitutional and won’t be enforced. b) A federal statute conflicts with a state constitutional provision. A. STATUTORY LAW. A federal statute applies to all
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Amicable Heritable Securities V Northern Assurance Co 1883 11 R 287 5 Sloans Dairies V Glasgow Corp 1977 Scot CS CSIH_2 4 Wight V Brown 1845 11D 459 4 The concept of insurable interest and the alleged need under Scots law for the requirement of insurable interest by the insured in an insurance policy‚ have recently come under scrutiny. Why is this‚ and what should be done about the problems arising from the requirement for insurable interest? How realistic are the proposals
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Question 1 | | 1 / 1 point | Law is a body of enforceable rules governing relationships among individuals and between individuals and their society. | True | | False | View Feedback | | Correct. | Question 2 | | 1 / 1 point | The doctrine ofstare decisis obligates judges to follow precedents established within their jurisdictions. | True | | False | View Feedback | | Correct. | Question 3 | | 1 / 1 point | Common law develops from rules of law announced in court decisions
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inapplicable since the parties had indicated that the partnership was to be determined by “mutual agreement”‚ hence subjecting it to a contrary intention. Thus there was no dissolution of the partnership 3. However‚ should dissolution be ordered‚ Morrissey would be prima facie entitled to 1/3 of the capital in accordance with s 24.1 of the PA. However the court in Popat v Shonchhatra held that: The slightest indication of an implied agreement between the partners that their shares of capital
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