1.0 INTRODUCTION ‘Legally binding contract’ is a common legal phrase which indicates that an agreement has been consciously made‚ and certain actions are now either required or prohibited. The meaning of the phrase therefore is that the contract is able to be enforced by the law. For example‚ a lease for an apartment is legally binding‚ because by signing the document‚ the lessor and the lessee are agreeing to a number of conditions. The lessor typically agrees to provide the apartment in a certain
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accepted within the English Contract Law that the models of contractual fairness must exist in contractual disputes. Essential to these models is the doctrine of consideration and the principles that comes under the doctrine of consideration such as laws derived from both Williams v Roffey (1990) and Stilk v Myrick (1809). Starting with the development of the doctrine of consideration and the principles developed in Williams v Roffey and Stilk v Myrick‚ I will discuss why these aspects seem inconsistent
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Introduction Occupational fraud is said to be that fraud perpetrated by an employee of an organization against his organization. According to the Association of Certified Fraud Examiners (ACFE)‚ “occupational fraud is the use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization’s resources or assets.” (ACFE‚ 2006). These perpetrators use deceit and or trickery to misuse and or steal the resources of the organization for their
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The ways in which contracts can become frustrated A contract may be discharged by frustration on a few circumstances. According to Section Contract Act 1950‚ there are provisions of three (3) clauses which may be the circumstances of frustration of contract. Generally‚ contract can become frustrated when an agreement to do impossible or unlawful act has been made. Referring to the Contract Act 1950‚ the three clauses provide for frustration of contract are as follow: * S57 (1) CA - An agreement
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Bank fraud is a crime that has been around as long as banks themselves. Anytime there is a large amount of money floating around‚ there are going to be people trying to figure out ways to get to it. In the United States‚ and most other developed countries‚ bank fraud is a serious problem that causes billions of dollars in damages every year‚ and is considered a federal offense. In China bank fraud is even punishable by death. Bank fraud is defined as attempting to wrongfully take money or property
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Contract A contract is a promise between two or more persons involving the exchange of some good or service. Some of the basic elements of a contract include: an offer and an acceptance; "capacity‚" or being of legal age and sound competence; "mutual assent‚" or agreement on the terms of a contract; and "consideration‚" or compensation for goods or services rendered. The element that distinguishes a contract from an informal agreements is that it is legally binding:the law provides
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7 - Establishing Your Storytelling Business “Now here’s a story I heard tell...” In this chapter… • Building a Support Network • Establishing Your Identity • Your Trade Name • Trademarking Your Name • Types of Businesses • Small Business Assistance • Setting Up a Checking Account • Business License • Business Plan • General Liability Insurance • Insuring Your Equipment and Merchandise • Keeping Track of Your Income • Tackling
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Steven Thel Fall 2012 Contract An oral or written agreement between two or more people‚ an exchange relationship‚ at least one promise‚ enforceable. Mutual Assent each party must intend to enter the contract and must agree to do so on mutually agreeable terms. Assent is legally sufficient if each party‚ by the deliberate use of words or conduct‚ manifests agreement to be contractually bound. Lucy v. Zehmer joke and intoxication was not enough to get Zehmer out of a contract that Lucy took seriously
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| Week 4: Contracts and IP Issues - D: You Decide | | | | Help | | | | ------------------------------------------------- Top of Form Bottom of Form | | Print This Page | | Scenario | | Scenario Summary | This group project covers a contract dispute situation. As a group‚ work through the following questions. Feel free to ask further questions in the thread of your group members‚ and answer your group members questions as well. The best work will be where all
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Elan Insurance Fraud The early warning signs of fraud are‚ usually‚ always ignored. There are warning signs for every type of fraud out there. To understand the warning signs of fraud‚ we must first know what fraud is. Fraud is the intent to trick someone or lie to someone in order to receive financial gain. This definition varies depending of the type of fraud used‚ but the person committing the fraud is always looking for financial gain. There are many types of fraud out there. You have
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