Richard misses his plane from London to Paris. Ryan takes him there by car. As he gets out of the car‚ Richard promises to pay Ryan $1000 for his efforts Issue: Is there any consideration for the promise made by Richard? The Law: Every contract requires an offer‚ acceptance‚ and consideration. Consideration is the exchange of benefit and detriment‚ for example‚ the making of a promise in exchange for an act. If a party voluntarily acts and then the other party makes a promise‚ the act is
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Business Discussion You own University Heights Apartments‚ a business that rents primarily to students. One evening‚ your tenant Sharon is attacked by an intruder who forces the lock on the sliding glass door of her ground-floor apartment. Sharon’s screams attract the attention of Darryl‚ your resident manager‚ who comes to Sharon’s aid. Together‚ he and Sharon drive the intruder off‚ but not before they both are badly cut by the intruder. 1. Is the intruder liable for what he has done? a. Yes
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Explain the effect terms in a contract. Implied terms are not stated in a contract but are introduced in a contract by a statute. 1. The handset will correspond with description supplied at the time of sale. This is an implied term by the sales of good act as it has to correspond with the description on the box. Also statute would protect the customer and it should be what is said on the box. The sales of good act states where there is a sale of good by description there is an implied
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1.INTRODUCTION Bangladesh is a combination of competitive market‚ business -friendly environment and cost structure that can give the best returns. Bangladesh offers a well-educated‚ highly adaptive and industrious workforce with the lowest wages and salaries in the regio n. 57.30% of the population is under 25‚ providing a youthful group for recruitment. The country has consistently developed a skilled workforce catering to investors needs. English is widely spoken‚ making communication easy
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offeror’s actual meaning was otherwise. * Definition: indication by one person to another of his or her willingness to enter into a contract with that person on certain terms. The ‘offer’ must indicate a willingness by the offeror to be bound without further negotiation as to the terms of the proposed contract. * Offer creates in the offeree a power to create a contract by their unilateral action. * Whether a statement is an offer depends on whether the person to whom it is addressed would reasonably
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choices‚ and whatever you choose will affect your life. It can be a small choice like when we decide our direction and it will lead you to the destination‚ or it can be a bigger choice that can cause a huge event in your life. I want to tell a story about my best friend‚ Huy who told me that trying‚ practicing and learning are the keys that can open your door to success. He was just like other people‚ by having a bad choice‚ so he made a big mistake six years ago in his life that he could never forget
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Faculty of Business BBL2614 Business Law Trimester 3‚ 2014-2015 Title: Case Study Lecture Group: AC03 Lecturer: Dr. Abbas Hardani Group members: Student ID Student Name 1. 1121115351 Ng Xin Ping 2. 1131119155 Ng Xin Jia 3. 1131119901 Ang Shing Yi 4. 1131119152 Low Cher Lian 5. 1131119172 Kystal Ann Zhi Ling Declaration by group leader (This section is to be filled in the student’s own handwriting.) I hereby declare that all group members’ names
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UNIVERSITI TUNKU ABDUL RAHMAN ACADEMIC YEAR 2005/2006 DECEMBER EXAMINATION UBML1053 BUSINESS LAW THURSDAY‚ 15 DECEMBER 2005 TIME: 2.00PM – 4.00PM (2 HOURS) BACHELOR OF COMMERCE (HONS) ACCOUNTING YEAR ONE Instructions to Candidates: Section A : [Total: 40 marks] 1. This section consist of ONE (1) compulsory question 2. Answer ALL the sub-questions. Section B : [Total: 60 marks] 3. This section consists of THREE (3) questions. 4. Answer only TWO (2) questions. 5. No marks will be given for any extra
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Corporate and Business Law Class Notes June 2012 © Debbie Crossman‚ January 2012 All rights reserved. No part of this publication may be reproduced‚ stored in a retrieval system‚ or transmitted‚ in any form or by any means‚ electronic‚ mechanical‚ photocopying‚ recording or otherwise‚ without the prior written permission of Debbie Crossman. 2 www.studyinteractive.org Contents PAGE INTRODUCTION TO THE PAPER CHAPTER 1: ENGLISH LEGAL SYSTEM CHAPTER 2: LAW OF CONTRACT – FORMATION CHAPTER
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Contract Elements Business Law is an interesting topic‚ especially when contracts are the subject of discussion. Contracts can obligate a party to perform a task‚ stop performing a task. They can be a guideline on a specific business sale or as simple as ordering something online. When things go wrong and contracts are claimed to be broken‚ the first thing we look into is whether it was a valid contract to begin with. For a contract to be considered valid there are 4 main elements it must contain
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