Business & Company Law – ’11-’12 – Question 1 Introduction: Whenever a contract is to be formed‚ there are certain elements which should meet the requirement in order for it to be established. They are offer‚ acceptance (agreement)‚ consideration and intention. * Definition: Agreement – Is formed when an offer is made and accepted. * Communication: Must be communicated * Except in the case of a unilateral contract. * Two types of Communications: * Instantaneous
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Terms The content of a contract are made up of terms (or ‘clauses’ as they are called in the case of written contracts) which may be express or implied. The express terms are the terms which the parties actually stipulated for themselves when making the contract‚ whether orally or in writing. In addition to the express terms‚ the courts sometimes‚ for a variety of reasons‚ imply certain terms into the contract. Implied terms are terms that are not expressly stated in the contract but are deemed to be
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back. Another damaging effect would be that customers would tell people they know about food standards being in Nando’s and then they wouldn’t go. Also‚ this could affect a number of restaurants as people would not trust the company anymore. The more damaging authority is immigration officials as they impose big fines and if Nando’s has 10 illegal workers that is £150‚000 out of Nando’s‚ which could potentially ruin them. This could be due to the reputation of the business becoming degraded and they
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Abstract Mutual Mistake of fact is when both parties of a contract make an assumption of fact when contract is formed and signed. The mistake must significantly change what you have to do under the contract‚ almost to the point where it’s an entirely different agreement. Although‚ if you knew there was a strong chance or probability of mistake at the time the contract was signed‚ you may have assumed the risk of that mistake. You therefore cannot use the mutual mistake defense. Not all cases
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two aspects of validity‚ internal validity and external validity. Internal validity refers to an approximate truth about inferences regarding causal relationships. Internal validity is only necessary in circumstances where there is a need to establish a cause and effect relationship. External validity is closely related to generalizing‚ and the ability to generalize a particular study to other people and other situations. This short paper will discuss both internal and external validity‚ and the threats
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For example the sellers name should match those given in the Official Copies or unregistered title deeds. The ‘Date’ section should be left blank until contracts are exchanged. The seller’s full names should be given‚ and correspond with the Property Register or the last conveyance. The buyers name may be left off until near to exchange. There should be a Property/Title description that is clear and specifies
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A breach of a contract is a failure to perform it. True A court may depart from a precedent if the precedent is no longer valid. TRUE A decision on a given issue by a court is not binding on an inferior court. False A defendant is a person against whom a lawsuit is brought. TRUE A federal statute regulates an employment practice. To resolve a dispute concerning the practice‚ Paula‚ a judge‚ will most likely apply the statute. A state constitution is supreme within the state’s borders
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To discuss whether or not there are valid contracts made between Charles v. Alex and Betty v. Alex‚ the formation of the contract have to be discussed. To form a legally binding contract‚ the elements of offer and acceptance; present of consideration; intention to create legal relation; capacity; legality of object; compliance with formalities; and genuine consent must be present all together. In the case of Charles v. Alex‚ to determine whether or not Alex was entitled to sell the apartment
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Capacity to contract One of the essentials of a valid contract‚ mentioned in section 10‚ is that the parties to the contract should be competent to make the contract. According to section 11 : “Every person is competent to contract who is of age of majority according to law to which he is subject‚ and who is of sound mind‚ and is not disqualified from contracting by any law to which he is subject.” It means that the following three categories of persons are not competent to contract. 1.
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of forming a contract‚ and bring the parties to the positions they occupied before the contract was made Past consideration- no consideration or a promise to give another something of value in return for goods or services rendered and delivered in the past Accord and satisfaction- the settlement of a debt by paying less than the amount demanded in exchange for extinguishing the debt Liquidated debt- one who amount was fixed‚ agreed on‚ settled‚ or determined. Release- a contract in which one
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