BUSINESS LAW INDIVIDUAL ASSIGNMENT QUESTION 1A Legal Issue This aspect involves LAW/ RULE OF OFFER AND ACCEPTANCE. Discussion of the legal principles “… agreement can be resolved into an offer by one party (the offeror and an acceptance of that offer by the other the offeree. Contract is an agreement between two or more people. Discussion of the legal principles One of the parties must have made an offer The offer must have been communicated to the offeree The offer must not have been
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A company’s corporate governance exists in order to prioritize and support the shareholders’ interests in accordance with laws and expectations of the stakeholders through oversight‚ monitoring‚ and controlling the company’s activities and personnel (Brooks‚ Pg. 218). Many companies used to hold and continue to hold flaws in their governance structures that allow management to operate their businesses to further their own personal self-interests instead of increasing the shareholders’ values. The
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Case Study You arrange to meet your boyfriend at the Patio Hotel on Saturday night. Your best friend witnessed the two of you making the arrangement. It is to celebrate your birthday and you buy a new dress‚ shoes and accessories for the date. He does not turn up and does not text you with an explanation. Can you sue him? If so‚ why? If not‚ why not? She would be unable to sue him as this is a social agreement which is unenforceable by law. Neither party has entered into a legally binding
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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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Basis for Advertising Contract: Google‚ Inc.‚ promises to offer advertising services to a customer in accordance to the terms outlined in the contract. The terms will govern the customer’s participation in Google’s advertising offerings and programs and how to remedy disputes. The provisions to be included in the contract must satisfy the criteria of a valid contract. Specifically‚ the contract must include an offer‚ an acceptance‚ consideration‚ capacity and a lawful purpose. Below‚ we attempt
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led to the passing of the Sarbanes-Oxley Act of2002 in an effort to encourage executives and the Board of Directors to double check financial records as well as dissuade the intentional misrepresentation of the company financial status. (Addison-Hewitt Associates ‚ 2013) It was also passed because the misrepresentation allowed loans from major banks to companies that would have been looked upon as risky and hurt the bank investors. (Addison-Hewitt Associates ‚ 2013) When the misrepresented financial
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Introduction What is Fraud? In researching for an anti-fraud paper‚ it is imperative to understand what fraud is. The common definition of fraud is dishonest or deceit. Thefreedictionary.com states that a fraud is the misrepresentation of a matter of fact. “Fraud must be proved by showing that the defendant ’s actions involved five separate elements: (1) a false statement of a material fact‚ (2) knowledge on the part of the defendant that the statement is untrue‚ (3) intent
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earnings management and fraudulent reporting? If so‚ what is it? “Earnings Management is recognized as attempts by management to influence or manipulate reported earnings by using specific accounting methods (or changing methods)‚ recognizing one-time non-recurring items‚ deferring or accelerating expense or revenue transactions‚ or using other methods designed to influence short-term earnings” (Akers). We do not see any boundaries between earnings management and fraudulent reporting. Both actions
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the manipulation or misrepresentation of the company’s financial earnings in order to achieve stable and positive financial position. This was achieve through directly or indirectly use of the accounting methods. Even though the manipulation may follow all the accounting standards and laws‚ they may go opposite of what the standards and laws were originally trying to establish. Therefore‚ earning management is often considered materially misleading and referred to a fraudulent activity. Satyam
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parties... according to section 14‚ consent is said to be free when it is not caused by (a) Coercion‚ or (b)Undue influence‚ or (c) Fraud‚ or (d) Misrepresentation‚ or (e) Mistake. * Effect of Absence of free consent: When there is consent but it is not free (i.e. when it is caused by coercion or undue influence or fraud or misrepresentation)‚ the contract is usually voidable at the option of the party whose consent was so caused. 1. COERCION Meaning of coercion[section 15]: It
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