April / May – 2012 CLM – 201 : Law of Contract - I SECTION - 1 (1) Each agreement is ? ? (A) Not contract (B) Contract (C) Both (D) No any one (2) Minor can not be done as promissory but he can be done as _________ (A) Promises (B) Guarantor (C) Both (D) No any one (3) There are essential elements for contingent contract (A) Four (B) Seven (C) Five (D) Ten (4) How many type of promises where proposals accepted ? (A) Four (B) Seven (C) Five (D) Ten (5) When
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masked their debt liabilities by selling assets between these limited partner shell companies and fabricated profits. It was hardly a coincidence that yet another Houston commodities corporation in connection with Arthur Andersen had misrepresentation and fraudulent reporting. This systematic corporate scheme led shareholders loss of $74 billion and caused employees and investors to lost retirement accounts. Several key management players‚ along with Andersen‚ were found guilty of fraud and most
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"The formation of a contract is not to be confused with its legal enforceability" Discuss. A contract is put in place to provide a legal link between each party. Therefore it is important to understand on how a contract is formed and what are the steps and requirements to make sure the contract stays legally enforceable. In order for a contract to exist‚ there are four key elements to it. An offer must firstly be made by the offerer‚ followed by the acceptance of the offer by the offeree. Considerations
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Contract: a legally enforceable agreement General Rule (GR) for an agreement to be legally enforceable‚ following requirements must be satisfied: 1. There is an agreement between the parties (2 or more persons) 2. The parties intended to create legal relations 3. Each party has provided consideration‚ that is‚ paid a price or made a promise GR for an agreement to be formed: 1. One person (the offeror) has made an offer 2. Another person (the offeree) has accepted the offer 3. The offeree
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ETHICS WHAT IS ETHICS The term is derived from the Greek word “ethos” which can mean custom‚ habit‚ character or disposition. At its simplest‚ ethics is a system of moral principles. They affect how people make decisions and lead their lives. Ethics is concerned with what is good for individuals and society and is also described as moral philosophy. Ethics is the branch of study dealing with what is the proper course of action for man. It answers the question‚ "What do I do?" It is the study
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Introduction In the Law of Contract the phrase “mistake” & “Misrepresentation” is applied when one or both parties of a contract act under a false or mistaken understanding. Mistake can be defined by Pendleton ‚ Vickery (1998)‚ [1] as; ➢ A misunderstanding regarding a fact‚ causing one or more parties to hold disagreeing beliefs about the foundation of a contract. Mistakes can be made in the form of a contracts subject matter or as a mistake of identity. There are 3 different types of mistake
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Memorandum University of Phoenix DATE: October 7‚ 2013 TO: Tammy Johnson FROM: xxxxxxxxxxxxxxx RE: Sarbanes-Oxley Can Fix Government Retrieved on 10/5/2013 from: http://www.americanthinker.com/2013/05/sarbanes-oxley_can_fix_government.html ARTICLE SYNOPSIS The recent events in the news pertaining to the government shows that there is a problem and that a reform is needed in the near future. The things happening in the governments shows that they are becoming a bigger entity
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Using Hypnosis for Repressed Memory Red L. Yandall November 14‚ 2005 Abnormal Psychology Repressed Memory 1 In today’s studies of using various techniques to trigger repressed memories‚ too many stand out to be more fraudulent than the technique of hypnosis. There have been many cases done over the past years that deal with the art of using hypnosis for repressed memories. In various cases‚ it was evident that while under hypnosis‚ ideans and thoughts were said to be fabricated and morphed
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Introduction We are part of a non-profitable organization. With a team of 4 lawyer volunteering law advice and services to the community for free. In this case we are to provide Chalice with our advice on what are the chargers he can look into if he decided to take it to the court or alternatively settle by other resolution. Duty of care with Negligence “Negligence as an important element in law of tort requires more than mere lack of care”. A claimant who wishes to sue in negligence must show:
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DURESS 1. Generally If one party pressures the contractual consent of another by duress the contract is voidable by that other party (See Also s 52A TPA and s 39 FTA). The common law has long recognised that duress‚ in the form of coercion of the plaintiff’s will through illegitimate pressure or threats to the plaintiff’s interests‚ render a contract voidable (Barton v Armstrong). Traditionally‚ the common law concept of duress was limited to actual or threatened violence to the person of
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