THE INDIAN CONTRACT ACT‚ 1872 ACT No. 9 OF 1872 1* [25th April‚ 1872.] Preamble.WHEREAS it is expedient to define and amend certain parts of the law relating to contracts ; It is hereby enacted as follows - PRELIMINARY 1. Short title. 1.Short title.-This Act may be called the Indian Contract Act‚1872. Extent‚ Commencements.-It extends to the whole of India 2*[except the State of Jammu and Kashmir]; and it shall come into force on the first day of September‚ 1872. 3* Nothing herein contained
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Corporate Finance AIG Accounting Scandal Explained December 8th‚ 2012 ________________________________________________________________________________ On February 9th‚ 2006‚ the SEC and the Justice Department settled with AIG for an amount in excess of $1.6B related to alleged improper accounting‚ bid rigging (defined by Investopedia as a scheme in which businesses collude so that a competing business can secure a contract for goods or services at a pre-determined price)‚ and practices involving
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defendants. One of their directors was alleged to have stated falsely that the machine had been reconditioned by a named firm. Had this representation been made by the director with knowledge of its falsehood‚ he would have been guilty of fraudulent misrepresentation. In a civil action for damages for breach of warranty‚ alternatively for fraud‚ the trial judge found that the claim in respect of fraud had been proved on the balance of probabilities‚ but added that he would not have been satisfied had
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EXECUTIVE SUMMARY Indian Contract Act 1872 is the main source of law regulating contracts in Indian law. It determines the circumstances in which promise made by the parties to a contract shall be legally binding on them. All of us enter into a number of contracts everyday knowingly or unknowingly. Each contract creates some right and duties upon the contracting parties. Indian contract deals with the enforcement of these rights and duties upon the parties. The Indian Contract Act 1872
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Tutorial 1- Introduction to Legal Environment of Business 1a) This is a civil matter as it is a private dispute between S and T which is not harmful to society. The dispute should be resolved through mediation. This is because it is cheaper‚ faster‚ more informal‚ and also private. Most importantly‚ it creates a win-win situation which will allow S and T to preserve their business relationship and compromise to settle the dispute amicably. b) This is a criminal and civil matter. It is criminal
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Expert: dkennedy replied 2 years ago. INTEROFFICE MEMO TO: XXXXX Attorney FROM: Paralegal DATE: June 24‚ 2012 RE: Sherman Case The potential clients are Rob Sherman and his wife‚ Bunny Sherman. They have a 15 year old son‚ Rob‚ Jr. Mr. and Mrs. Sherman’s goal is to file suit against the Church of the Divine Light‚ which is in practice similar to the Church of Scientology‚ but is in actuality independent of any organized church. The couple alleges that they have suffered damages by the Church of
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ETHICAL ISSUES IN MANAGERIAL ACCOUNTING The aim of this paper is to highlight in the light of the empirical researches conducted previously the presence of ethical issues and dilemmas in managerial accounting. The implications of which can be disastrous bringing colossal giants crumbling to their knees. The prime aim is to throw light at the subtle inconsistencies that can cost the companies far more than just money but their entire image. The asset of ‘good will’ has its nemesis in these unethical
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CASE 3 : Accounting Fraud at WolrdCom Table of Contents Introduction....................................................................................................................... 1 Question 1 .......................................................................................................................... 2 Question 2 .......................................................................................................................... 4 Question 3 ..........................
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ANNE ARUNDEL COUNTY HILL‚ John Lyster - Disbarred by Consent on November 24‚ 2009 by the Court of Appeals for mishandling two (2) domestic relations cases in which he failed to take prompt action‚ he implied he had paid a judge to expedite his client’s case‚ failed to file an Information Report causing dismissal of his client’s appeal‚ and failed to deposit and maintain his client’s retainer in trust‚ in violation of Maryland Rules of Professional Conduct 1.1‚ 1.3‚ 1.4‚ 1.5(a)‚ 1.15‚ 7.1(b) and
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Intro and formation of contracts . Basic Legal Contract Principles People have a right to contract – conduct is voluntary. Anything that takes away voluntariness is questionable‚ e.g.‚ duress‚ economic duress‚ fraud‚ coercion. People have right to breach. But must place other party in the same position for which they contracted‚ so must pay them damages. If legal remedy does not work and P is entitled to be placed into performance‚ then must order specific performance. Specific performance
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