References: * Cheshire‚ Fifoot & Furmston ’s Law of Contract * Duhaime‚ Lloyd‚ Contract Law‚ Part 5: Mistake‚ Rectification & Misrepresentation * Duhaime‚ Lloyd‚ Legal Definition of Deceit * Halsbury ’s Laws of England‚ 4th Reissue (2003)‚ Volume 31 on Misrepresentation and Faud * Misrepresentation Act 1967‚ Statutes of 1967 (UK)‚ Chapter 7
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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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make. The first is to negotiate settlement money or defend the lawsuit. As a group‚ we will give our best knowledge of business law‚ statistics‚ and ethics to help Mr. Plex choose the ideal decision. First of all we will compare the fraud and misrepresentation of business law. Furthermore‚ we conducted tests on Hypothetical test and a Confidence Interval calculation. Lastly‚ under the ethics theory of cost-benefit analysis‚ justice vs. fairness and rights‚ we decided on the best action that Mr. Plex
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loan from Large PLC‚ Bradley signs a contract that uses the house as collateral. Due to the failure of the business‚ Large PLC seeks to obtain the house on its terms. Bradley can defend his home from Large PLC by relying on undue influence‚ misrepresentation by Carlotta‚ equitable doctrine of unconscionable bargains‚ and statutory consumer protection. Legal issues in original scenario There is a legally binding contract between Bradley and Large PLC. An offer of a specific monetary loan was presented
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NATIONAL OPEN UNIVERSITY OF NIGERIA SCHOOL OF LAW COURSE CODE:-LAW 234 COURSE TITLE:-THE LAW OF CONTRACT II LAW 234 THE LAW OF CONTRACT II 8 COURSE GUIDE LAW 234 THE LAW OF CONTRACT II Course Writers/Developers G. I. Oyakhiromen Ph.D‚ BL Ayodeji Ige National Open University of Nigeria Course Editor Professor Justus A. Sokefun National Open University of Nigeria Programme Leader Course Coordinator G. I. Oyakhiromen Ph.D‚ BL National Open University of Nigeria Ayodeji Ige
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Introduction to Commercial Law Jasper Goh Jia Qing We would need to establish if there was a valid contract formed. As per Lord Wilberforce in The Eurymedon‚ an enforceable contract would have to consist of a valid offer and agreement‚ consideration‚ an intention to create legal relations and there has to be no vitiating factors. The first issue would be as to whether there was an offer on the advertisement regarding
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this amount‚ the Blues filed a suit in federal district court against tobacco companies and others‚ alleging fraudulent misrepresentation‚ and negligence among other things. The Blues claimed that beginning in 1953‚ the defendants conspired to addict millions of Americans‚ including members of Blue Cross Plans‚ to cigarettes and other tobacco products. The conspiracy involved misrepresentation about the safety of nicotine and its addictive properties‚ marketing efforts targeting children‚ and agreements
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1. Lack of controls that prevent and/or detect fraudulent behavior 2. Inability to judge quality of performance 3. Ignorance‚ apathy and incapacity 4. Lack of an audit trail ” Sullivan directed subordinates to book certain fraudulent adjustments and entries in WorldCom’s general ledger to mask WorldCom’s true performance. The fraudulent adjustments and entries were designed to falsely increase WorldCom’s reported revenue and to falsely decrease WorldCom’s reported expenses Sullivan directed
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impaired by coercion‚ fraud‚ undue influence‚ misrepresentation and mistake. Without free consent‚ the contract can be voidable or void‚ depending on the circumstances. English | BM/Mandarin | Example | Effect on contract | Coercion | | | | Fraud | | | | Undue influence | | | | Misrepresentation | | | | Mistake | | | | 3. Difference between fraud and misrepresentation: Fraud (Section 17 of Contracts Act) | Misrepresentation (Section 18 of Contracts Act) | Fraud involves
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VOIDABLE CONTRACTS * COERCION * UNDUE INFLUENCE * FRAUD * MISREPRESENTATION * MISTAKE PREPARED BY: TEH GUAN HONG GM04795 NUR SYAHIRAH BINTI HUSAINI GM04674 SAMEENA BINTI SIRAJ GM04558 ASHTON GM04801 NALINI BALAKRISHNAN GM04634 COERCION Coercion‚ as an element of duress‚ is grounds for seeking the cancellation of a contract or deed. When one party to an instrument is forced against his or her will to agree to its terms the document can be declared void by a court. In
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