Fun Role and Functions of Law Nicholas B. Seay LAW/421 February 4‚ 2013 Valentine Castillo Role and Functions of Law When it comes down to understanding law‚ most individuals have a better understanding of how criminal law plays a role in society instead of civil law. Modern law helps regulate business and individuals in a combination of constitutional law‚ statutory law‚ common law‚ and administrative law. These are also known as the primary sources of law as each can be used together
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Business Law Assignment; Mistake in contract law‚ is a factual misunderstanding that may lead to a failure of a meeting of the minds. Unilateral mistake is mean that is only one party is mistaken‚ but the other party knows‚ or ought reasonably to be aware of the mistake. Contract may be void or voidable. Void is a contract that is no legal effect. While‚ voidable is an agreement that may be affirmed or rejected at the option of one of the party. The reason why Lord Denning took the view that these
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CONSIDERATION Definition Section 2 (d) When‚ at the desire of the promisor‚ the promisee or any other person has done or abstained from doing‚ or does or abstains from doing‚ or promises to do or to abstain from doing‚ something‚ such act or abstinence or promise is called a consideration for the promise; In short‚ consideration means that a promisee must give something in return for the promise. It may consist of a conduct‚ or a price to be paid in return for the promise made by‚ or the conduct
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Composition and Financial Statement Fraud. Accounting Review‚ 71‚ 443-465. BEASLEY‚ M. S.‚ CARCELLO‚ J. V.‚ HERMANSON‚ D. R. & LAPIDES‚ P. D. (2000) Fraudulent Financial Reporting: Consideration of Industry Traits and Corporate Governance Mechanisms. Accounting Horizons‚ 14‚ 441-454. DUNN‚ P. (2004) The Impact of Insider Power on Fraudulent Financial Reporting. Journal of Management‚ 30‚ 397-412. DOPUCH‚ N.‚ R. R. KING‚ AND R. SCHWARTZ. (2003) Independence in Appearance and in Fact: An empirical
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1) A contract is an agreement made between two or more parties which are recognised by Law. There have been many scenarios such as the rejection of offer‚ leaving a voicemail to accept the offer‚ letter been posted on the same day and also a note through the door stating that offer has been accepted by David. First of all‚ in our case Arthur decides to sell his car putting a notice in his rear window of the car door. This action represents an offer not an invitation to treat. An offer is when one
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reacted so negatively to Lucent’s announcements of the problems? There is usually a grey zone between aggressive accounting‚ which is the use of legitimate accounting methods to achieve business purposes‚ and fraudulent financial reporting‚ which is the intentional misrepresentation of financial information for business purposes. In this particular case‚ the company shipped products to distributors when it knew that they may not be able to sell the products (indeed‚ many of the distributors had
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CONTRACT LAW NOTES It is a legal enforceable agreement entered into by two or more different persons with legal capacity. The parties should have serious intention to create legally binding obligations. Their agreement needs to be within parities’ contractual capacity. Furthermore‚ parties should communicate such intention without vagueness each to the other and being of the same mind to the subject matter. Essentials of a contract a) it should be lawful b) possible of performance c) within
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on all four felony counts: fraudulent use of wire‚ radio or television transmissions; taking‚ copying‚ and using computer data without authorization. (A&E Television Networks 2011) She broke the golden rule of honor by teaming up and taking unethical measures to seek out a “leaker. She claims she had no idea “pretexting” (the practice of deceiving individuals into surrendering personal information for fraudulent purposes) could involve identity misrepresentation. In addition‚ she testified
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This is to respond to your request for information on the controversy between Mike Mayo‚ one of the most famous bank analyst and Citigroup about the treatment of Large deferred tax asset of Citigroup which was a hot issue to be discussed during the collapse of the US housing market in 2007. Citigroup acquisition of its large deferred tax asset occurred partly during the collapse of the US housing market which led into the financial service sector going into a significant and a lengthy downturn
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business‚ this fraud is usually committed electronicly. Employee fraud; this type of fraud consists of employees taking items from inventory without permission nor payment. Credit Card fraud; this is the theft of or fraudulent use of a company credit cards. Electronic fraud; this a relatively new type of fraud. Using electronic fraud you can manipulate databases to say what you want them to. You can move any amount of money or goods around‚ you transfer a
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