3. Contract Law “Is My Agreement an Enforceable Contract?” The Law of Contract involves answering 4 questions: (1) Is my agreement an enforceable contract? Are all of the elements of a contract present. (2) If so‚ what does it require me (and the other party) to do? - What “promises” have become terms of the contract. (3) Can I get out of it (without paying some form of penalty)? - Was the formation of the contract defective in some way (ie were there any ‘vitiating elements’ present)
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au/info-sheets/info-sheet/exclusion-clauses-disclaimers-and-risk-warnings/ help me create table contents Exclusion Clauses 1. Introduction A clause which seeks to exclude or restrict liability for breach of contract‚ breach of implied terms or misrepresentation‚ in a contract that seeks to restrict the rights of the parties to the contract. Exclusion clauses are generally found in contracts. These types of clauses operate to exclude or restrict the rights of a party. For example‚ if a party to a contract
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with the intention to deceive others‚ often with the further intention to maintain a secret or reputation‚ protect someone’s feelings or to avoid a punishment or repercussion for one’s actions. Deceit is fraudulence‚ the quality of being fraudulent misrepresentation‚ or a misleading falsehood. deception: the act of deceiving
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involved in scandals that engaged in misrepresentation in financial statements and fraud. Enron was one of the world’s leading American energy company’s and in October 2001 Enron Corporation filed bankruptcy‚ this was due to the unethical behavior that Enron executives had practice. Enron had used ambiguous accounting methods. They provided false financial reports to conceal the billions of dollars in debt they acquired from unsuccessful business projects. The fraudulent actions taken by the Enron executives
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CERTAINTY OF CONTRACT There are two aspects to the issue of uncertainty. (1) The language used may be too vogue in which case‚ the court is likely to hold that there is no concluded agreement ‚ the contract is void for uncertainty. (2) Failure to reach agreement on a vital or fundamental term of an agreement. SECTION 30 1. Agreements‚ the meaning of which is not uncertain‚ or capable of being made certain‚ are void. * If A agrees to sell to B ‘a hundred tons of oil’ ‚ there
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“expenses” column to the “capital investments” column‚ which enable the company to manipulated and showed the large profit in the financial statement. To convince himself‚ he described the move and action to himself as “aggressive accounting” ‚ not “fraudulent” although the action committed include “little “misleading to investors and bounds of accounting rules. Besides‚ from Aaron Beams’ point of view‚ his action at least disclosed the information needed and the information was sophisticated enough to
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containing a material misrepresentation of fact or omitting a material fact” [3]. These statements further solidified my objections to the intentional‚ deceptive manipulation of data that Greg was presenting to out clients. To find further support to confirm the ethicality of my decision‚ I then consulted the World Federation of Engineering Organizations’ (WEFO’s) Code of Ethics [4]. Under the section titled “Demonstrate Integrity”‚ specifications included demands to “refrain from fraudulent‚ corrupt or criminal
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BUSL250 – Mid-semester Notes Liabilities * Harm may be caused deliberately or carelessly * One person’s single harmful act to another person (deliberately or carelessly) can give rise to one or more legal liabilities * Legal Liabilities * Tortious Liability: harmful act can be a tort (civil wrong)‚ other than breach of contract‚ remedy is compensation (commenced through litigation) * Vicarious Liability: Liability for harmful act caused by another * Statutory liability:
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A contract intends to formalize an agreement of two or more parties‚ in relation to a particular subject. Contracts can cover an extremely broad range of matters including the sale of goods or real property‚ the terms of employment or of an independent contractor relationship‚ the settlement of a dispute and ownership of intellectual property developed as part of work for hire. Essential Elements of a Contract * Clear certain and communicated agreement. Meaning that the parties are consensus
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are ways and means to minimize if not eliminate altogether one’s tax liabilities.Attempts to escape the tax net may take any one of two forms: tax evasion and tax avoidance. Tax evasion may be defined as the act of reducing taxes by illegal or fraudulent means.1Common practices of tax evasion include: under-reporting of income‚ over-statement of expenses‚ use of fictitious receipts‚ the keeping of double sets of books‚ false or fictitious entries in books‚ fictitious transactions in the name
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