International Business Law Chapter 4 Study Guide (Group 8) Under frustration of purpose clause‚ a contract may be excused if the reason for entering the contract has been changed or has been invaluable. If the valuable part of the contract‚ for example a well known concert singer‚ has become ill‚ the contract may be excused due to the illness of the valuable part‚ the singer‚ of completing the contract. Valid Contract: an agreement that contains all of the essential elements and meets all
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LIABILITY OF DIRECTORS A director plays a vital role in a corporate organization. They manage the business‚ design business policies and select the officers. Liability of the directors is a crucial aspect where a director is expected to be honest‚ vigilant and protect the shareholders trust in him. Shareholders own the corporation and elect the board of directors whose approval is required for major corporate actions. Liability comes into picture when directors or officers tend to cause financial
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Cuong Khong Bill Tennyson/ Business Law January 24‚ 2013 BRIEFING CASES… COMMONWEALTH v. BERGGREN 398 Mass. 338 (1986) Supreme Judicial Court of Massachusetts‚ Barnstable. May 6‚ 1986. August 26‚ 1986. ============================================================================ FACTS: On March 29‚ 1983‚ about 8:28 P.M.‚ Patrolman Michael Aselton of the Barnstable police department was on radar duty at Old Stage Road in Centerville. He saw the defendant’s motorcycle speed by him and commenced
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Bibliography: (2014‚ 09 05). Retrieved from www.sos.ca.gov: http://www.sos.ca.gov/archives/collections/1849/full-text.htm (2014‚ 09 05). Retrieved from www.leginfo.ca.gov: http://www.leginfo.ca.gov/const-toc.html Arnold J. Goldman‚ a. W. (2011). Business Law: Principles and Practices‚ 8th Edition. Mason: South-Western Cengage Learning.
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Chapter 9 Formation of Traditional and E-Contracts TRUE/FALSE QUESTIONS 1. Contract law does not distinguish between promises that create only moral obligations and promises that are legally binding. False. 2. In contract law‚ intent is determined by the personal or subjective intent‚ or belief‚ of a party. False‚ intent is determined by the objective theory of contracts 3. A bilateral contract comes into existence at the moment promises are exchanged. True‚ “promise for a promise” 4. If a voidable
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Faculty of Business BBL2614 Business Law Trimester 3‚ 2014-2015 Title: Case Study Lecture Group: AC03 Lecturer: Dr. Abbas Hardani Group members: Student ID Student Name 1. 1121115351 Ng Xin Ping 2. 1131119155 Ng Xin Jia 3. 1131119901 Ang Shing Yi 4. 1131119152 Low Cher Lian 5. 1131119172 Kystal Ann Zhi Ling Declaration by group leader (This section is to be filled in the student’s own handwriting.) I hereby declare that all group members’ names
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1. An exemption is a clause in a contract that exempts or removes liability from one or both parties in certain circumstances. Exemption clauses are used frequently in business organization contract. These clauses apportion risk between the parties concerned and the law upholds them‚ assuming the parties negotiated them while drafting the contract 2. The two ways in which exemption clauses can be incorporated in a contract are: (1) Incorporation by notice and (2) Incorporation by signature
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---- ------- Business Law Take-Home Final Essay When asked “what can Moon‚ Inc do to get its money from Bob Zimmerman?” I would address it by saying if Zimmerman doesn’t pay off what he owes then according to the mortgage contract Zimmerman would foreclose his house and Moon‚ Inc. would have the right to bid first. My reasoning is that initially the mortgage was taken out for the house and Zimmerman paid back loans toward the bank. If Zimmerman doesn’t pay then the house is foreclosed and the
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Business Law – Outcome 2 (Law of Contract) Identify and describe the essential elements of a contract There are 3 essential elements in a contract: * There must be an agreement on all material aspects (Consensus in idem) Both or all parties in a contract must have the same understanding of all terms within the contract. To reach and consensus in idem‚ any acceptance must meet one of the offers made. If a party makes changes to the original offer then this is considered a conditional offer
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Foundations of Human Services Worksheet Answer‚ in a 50- to 100-word response‚ each of the following questions: 1. Identify the four themes of human services. The four major themes of human services according to the chapter are one problem in living human beings not being able to meet their own needs all the time. Second the growth number of problems in modern world helps with people not able to get help from family or the community. Third self-sufficiency giving people the tools needed
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