Judicial precedent is based upon the Latin maxim "stare decisis" which loosely translates into "stand by what has been decided and do not unsettle the established". Judicial precedent is the source of law where past decisions of the judges create law for future judges to follow‚ this law can be found in judgement that is binding. Ratio Decidendi is the part of the judgement that is binding. In the English legal system‚ higher courts bind lower courts so lower courts have to follow the past decisions
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issue is less than a certain dollar figure‚ the parties may be able to use the "Small Claims Court to resolve the issue. Court proceedings are formally involved in contract disputes only choice for individuals and businesses. The parties may agree to review the contract dispute mediator‚ or may
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Specific Performance MT311 Business Law Part I There are four situations we have to review in terms of specific performance and possible breach of contract. First we must understand the elements of specific performance then we can evaluate how they relate to each scenario. “In some situations‚ damages are an inadequate remedy for a breach of contract…equitable remedies include rescission and restitution‚ specific performance‚ and reformation” (Miller & Jentz‚ 2009). Specific performance
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Contracts Contracts are an important part of everyday life. They are an essential part of business. As a student of a business law class‚ I will discuss in this paper several aspects of contracts. This paper will give a definition of a contract and the essential elements necessary to form a valid contract. It will briefly discuss breach of contract and the difference between a material breach and a nonmaterial breach of contract. Examples of legal and equitable remedies available for breach
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I. Introduction- Drugs are considered to be a modern day issue. However‚ if we look to the archeological records‚ we would find that our ancestors used drugs such as‚ alcohol‚ opium‚ cocoa‚ magic mushrooms among others for both medical and spiritual purposes. Throughout the years many policies have been created in order to minimize the use of drugs. For example‚ the first anti-opium laws were directed at the Chinese immigrants in the 1870’s. In the 1900’s‚ an anti-cocaine laws were directed in the
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The Judicial Branch is the most important branch of the United States government‚ due to the significant role it plays in interpreting and determining if laws are constitutional. Even though the Judicial Branch is the smallest in size and has smallest budget of any branch in our nation’s government‚ it exercises enormous power and is equal to other branches of the government because it has the power of Judicial Review. Judicial Review is the review by the US Supreme Court of the constitutional validity
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Kayla Roofe 12/04/12 Judicial Speech Do you remember waking up early on a Saturday morning to sit and watch your favorite cartoons? I remember watching all the commercials for toys and begging my mom to go to the store right then and buy that certain something. There is one commercial that sticks out in my mind above all the rest. For a long time it gave me nightmares; having to witness an injustice like that. It was a constant reminder of how unfair this world can be. I can still hear them
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Judicial Review and the Legislative Process; Relevant? The importance of judicial review is uncontested today. That the court system has a role in reviewing the actions of other governmental bodies and ensuring their constitutionality is imperative in the system of checks and balances between the three branches of government in the United States. The question remains‚ however‚ as to how far should this judicial power extend. When reviewing a piece of legislation‚ should the courts stop by merely
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Damages Compensation for causing loss or injury through negligence or a deliberate act‚ or a court’s estimate or award of a sum as a fine for breach of a contract or of a statutory duty. Types of damages include (1) General: damages that are presumed in law and follow indirectly from a wrong. They need not be specifically-claimed or proved to have been sustained‚ and are awarded also where an injury or loss (such as physical pain and mental anguish) cannot be precisely estimated. (2) Special (or
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Week Four Assignment By: Kelly Sciberras November 25‚ 2012 DeVry University Business Law – BUSN420 Week Four Assignment As our textbook explains fraud invalidates a contract. “The presence of fraud affects the authenticity of the innocent party’s consent to a contract. When an innocent party is fraudulently induced to enter into a contract‚ the contract usually can be avoided because she or he has not voluntarily consented to the terms. Normally‚ the innocent party can either cancel the
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