Part I: Description In January of 2007 the parent company of TJMaxx and Marshalls known as TJX reported an IT security breach. The intrusion involved the portion of its network that handles credit card‚ debit card‚ check‚ and merchandise return functions. Facts slowly began to emerge that roughly 94 million customers’ credit card numbers were stolen from TJMaxx and Marshalls throughout 2006. It was believed that hackers sat in the parking lots and infiltrated TJX using their wireless network
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CONTRACT AND RELATED OBLIGATION Prof. Hillman I) Theories of Obligation A) CONTRACT: Agreement with Consideration – Bargain Theory of Consideration Definition: A promise that is supported by consideration because the promisor gets something (extracts) from the promissee in exchange for the promise. Ex: I tell Alice I will sell her my piano for 400 dollars and she agrees. I promised my piano in exchange for something (400 dollars) therefore my promise is enforceable. 1) Bargained
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1. Voidable Contract: An agreement which is enforceable by law at the option of one or more of the parties thereto‚ but not at the option of the other or others‚ is a voidable contract. A contract is voidable when one of the parties to the contract has not exercised his free consent. One of the essential elements of a formation of a contract for example‚ free consent‚ is absent. All voidable contracts are those which are induced by coercion fraud or misrepresentation. The person whose consent is
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referred to as citizens or subjects. The primary problem to which the social contract holds the solution is based on the total alienation of each associate to the entire community. Rousseau proposes that every individual give himself absolutely and apply the same conditions for each and every one to result in an agreement where it is in no ones interest to make the conditions burdensome for others. The critiques of this contract are so specifically determined by ones actions‚ that the slightest amendment
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A contract -is a legal agreement that occurs between two or more parties. It can be a written or spoken agreement that can concern employment‚ sales‚ or tenancy. Parties or members involved‚ enter voluntarily into this agreement. Every contracts involve two persons they are the: Offeror and Offeree. The offeror is the one who offers to enter into a contract and the Offeree is the one to whom the contract is being offered Elements of a contract: Agreement‚ Lawful object‚ consideration and contractual
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Real Madrid (RM) has been worldwide-known as one of the best soccer club in the world. From its beginnings in 1902‚ this Spanish soccer club has set the standards of a championship soccer organization and in 1905 had his first international game. A major turning point in the club’s history came with Bernabeu‚ Real Madrid CF appointed president (1943).He created the strongest brand in soccer synonym of prestige and champions‚ wining 6 European Cups. He coined “best in Europe” by international press
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It is quite complicated to incorporate the GAAP criteria to the contract. The contact does not clearly identify what the $5‚000‚000 fee is for. One can imply that it provides PACE the exclusive rights to show these films in their own theatres. If that was the case then the $5‚000‚000 is realized when the contract is signed however $2‚500‚000 is earned at the time of signing the contract and the remainder is not earned until PACE uses these rights for six months. They will recognize it as revenue
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Nd Contracts Outline Professor Murray 1. Contract Remedies (Chapter One) What is a contract?- promise or set of promises‚ for breach of which the law gives a remedy or the performance of which the law recognizes as a duty. Types of contracts- a. express: formed by language‚ oral or written b. implied: formed by manifestations of assent other than oral or written language; by conduct. c. quasi: not contracts at all‚ construed by courts to avoid unjust enrichment‚ by permitting plaintiff
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| |II. |Course Title |: |OBLIGATION AND CONTRACTS | |III. |Course Credit |: |3 units
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The Law of Contract Voidable Contract – Coercion The word “contract” can be defined as a voluntary‚ deliberate‚ and legally binding agreement between two or more competent parties. Contracts are usually written but may be spoken or implied‚ and generally have to do with employment‚ sale or lease‚ or tenancy. A contractual relationship is evidenced by an offer‚ acceptance of the offer‚ intention to create legal relations‚ consideration‚ certainty and capacity. However‚ while all parties may expect
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