conditional constitute consideration? Yes‚ such a promise consideration even if the condition is unlikely to occur. 3. What is the general rule about the adequacy of consideration? The adequacy of the consideration is irrelevant because the law does not prohibit bargains. 5. Is there consideration when a secured note for a lesser amount is given and accepted in discharge of an unsecured note for a greater amount? Explain. No‚ because if a secured not for a lesser amount is given and
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In 1957 the EU was fashioned to elevate the living standards of its members by encouraging peace‚ democracy and equality for the countries that had joined the partnership. Its aims were to end war and repair the division of the European continent. It has become a unique economic and political partnership consisting of 27 European countries with around 500 million inhabitants (see figure 1 in appendix). This map shows the 27 (coloured) EU countries (Grey
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Ahmad is in business selling microcomputers. Following a major refurbishment of his shop premises he publishes the re-opening of his shop with a large newspaper advertisement on 30 august. Formalities are a general rule contracts do not need to comply with any sort of formalities. Thus‚ while it is more difficult to prove contracts that are entirely or partly oral‚ this is a matter of evidence and procedure only and is not relevant to the validity of a contract. A contract of sale may be made in
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Question 1: Issue The issue of this question is whether Samuel willingly entered into a legitimate sale of goods contract with the shop in Orchard Road. Rule of Law The law on this issue is found in the common law and under stature law. In Preston Corporation Sdn Bhd v Edward Leong (1982)‚ an offer was defined as a willingness to be bound by the terms of an agreement. Therefore‚ it is clearly stated that Samuel is willingly and has agreed to enter into a contract by signing on a receipt
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In the case in the text where someone purchased a used safe at an auction for $50‚ but was later found by the buyers to contain more than $30‚000 in cash‚ how did the court rule? a. There was no contract because the buyer was unjustly enriched. b. There was no contract because the act of opening the safe was not completed before the buyers took the safe. c. This was an implied-in-fact contract and the buyers were required to pay the fair value for the safe and its contents. d. There was objective
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Case Study 4.7 1. Assume you were the member of the panel that presided over the academic misconduct hearing involving Zane Cobin. Given just the information provided in the case‚ how would you have voted at the conclusion of the hearing? Defend your answer. Answer: If I were one of the members in the panel at the conclusion of the hearing I would acquit vote for Corbin. Cobin shows a lot of efforts in order to win the up church medal. . 2. Again‚ assume you were a member of
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registered under the law (if any) for the time being in force for the registration of such documents‚ and is made on account of natural love and affection between parties standing in a near relation to each other. In other words‚ an agreement made on account of natural love and affection is binding if the following requirements are present: It is expressed in writing; It is registered (if applicable); and The parties stand in a near relation to each other --- Tan Soh Sim‚ Chan Law Keong & Ors v
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Chapter 8 Q&A 3. For a crime to be committed‚ the prosecutor must be able to prove a criminal intent and an overt act to carry out that intent. Jack and Mary agreed to rob a series of banks. Prior to beginning their bank robbery spree‚ they were arrested and charged with criminal conspiracy. What act did Jack and Mary do that justifies a finding that they committed the crime? Explain. As a general rule‚ crime involves combination of act and criminal intent. A crime is committed when it is
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likelihoods of product default. The seller sometimes may claim these warranties impliedly or expressly. They also may disclaim warranties or restrict buyers to a few requirements to qualify for a warranty. A warranty is a promise‚ arising by operation of law‚ that something that is sold will be merchantable and fit for the purpose for which it is sold. Express warranties: need to be communicated by words to the consumer by the seller. The seller can communicate the agreement in a written contract or
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Sterling computer has entered into a partnership with NoBugs a microchip processing computer. The collaboration was developing into a something successful until an incident put a strain in the business relationship. Some month ago Sterling computer has had several of their computers explode shortly after customers install them. Upon an investigation which was conducted by Sterling researchers have discovered evidence of NoBugs’s microchips aggravating a dormant defect in their computers‚ causing
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