Contract Creation and Management Simulation LAW/531 In the contract creation and management simulation involving Span Systems and Citizen-Schwarz AG (C-S) the conflict involved and possible resolutions could be beneficial or catastrophic for both companies. Legal risks for corporations in the process of implementation and development of a program are many. To prevent this there must be direct‚ quantifiable benchmarks that are acknowledged by all parties involved. Any contract ambiguity that
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$266‚390) involving our Public Auto XOL contract effective 01/01/13. Our current o/s reserve is $1‚451‚950‚ an increase of $35‚558 in the loss adjustment expense is required‚ which will increase our total incurred to $1‚491‚390. The required pay time form has been tasked to K. Haniff. IAT issued a commercial auto policy effective 10/01/13 – 10/01/14 with limits of $5‚000‚000‚ the date of loss is 07/11/14 falling within the ceded policy term. Our contract period is 01/01/13 – 12/31/13 accepting
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Question 1: Discuss the issues of contract law that arise. 1. The main legal issue in the case is whether the contract has been formed and Daphne is subjected to contract and obligated to pay £200 to Sonya for the TV. The law of contract regarding offer acceptance states that in order to form a contract‚ the acceptance must be unconditional (Black 2011) . Counter-offer is a response to an offer which‚ while not expressly rejecting the offer‚ seeks to qualify it by deleting some of the terms. The
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“A common mistake‚ even on a most fundamental matter‚ does not make a contract void at law; but it makes it voidable in equity.” To what extent does this statement represent the law after Great Peace Shipping Ltd. V Tsavliris‚ The Great Peace (2002)? A mistake is an erroneous belief held by one or more contracting parties at the time of entering the contract‚ as to whether certain details pertaining to the contract were true. Mistakes can be classified in three categories; common‚ mutual‚ or
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Business Advisory Service Legal responsibilities for business owners Advise for new business owners about: * Legal status and risk involved * Contract Law * Consumer legislation Legal Status When starting up a business‚ one should decide which legal status to choose. Each legal status has its own different responsibilities and there are some risks involved. There are three types of legal status: sole trader‚ partnership and limited companies (Ltd & Plc). * Sole
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Semester 2 2014 Fundamentals of Law: Contracts Assignment Name: Student ID: Table of Contents 1.0 Case 4 2.0 Questions 4 3.0 Memorandum 5 4.0 Reference 9 1.0 Case Semester Two 2014 Bea‚ an amateur art collector‚ read the following ad in the paper: “Steven’s Art and Antiques – The Finest in Collectibles – Internationally Recognised Artists!” Bea went to Steven’s store and spotted a large painting signed with the name “Master”. Bea asked Steven‚ “Is this an original
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ZAMBIAN OPEN UNIVERSITY SCHOOL OF LAW COMPUTER No. 21110141 LARRY HORE NJUNGU BACHELOR OF LAWS (LLB) COURSE: CONTRACT LAW (LL 12) LECTURER: GREENWELL LYEMPE ASSIGNMENT No. 2 SECOND YEAR‚ 2ND SEMESTER MOBILE: 0977 666160 CONTACT ADDRESS: PLOT 3601/4‚ MAPEPE ROAD‚ OLYMPIA PARK‚ LUSAKA TASKS: (i) Purpose of contractual remedies and whether they serve their intended objective (ii) Relationship between agency and principal (ii) Misrepresentation
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SIMULATION • WHAT is Simulation ? • WHY is Simulation required ? • HOW is Simulation applied ? • WHERE is Simulation used ? DEFINITION • Simulation is a representation of reality through the use of model or other device‚ which will react in the same manner as reality under a given set of conditions. • Simulation is the use of system model that has the designed characteristic of reality in order to produce the essence of actual operation. • According to Donald G. Malcolm‚ simulation
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CONTRACTS Stages in the life of a contract: 1. Preparation/Generation 2. Perfection/Birth 3. Consummation/Death Characteristics of Contracts: (ROMA) 1. Relativity (Art. 1311) 2. Obligatoriness & Consensuality (Art. 1315) 3. Mutuality (Art. 1308) 4. Autonomy (Art. 1306) Stipulation pour Autrui - stipulation in favor of a 3rd party. Requisites: 1. The stipulation must be part‚ not whole of the contract; 2. the contracting parties must have clearly and deliberately conferred
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Unit 5 Practice Test 1. All contracts involving interests in land must be in writing to be enforceable –T 2. A contract that by its own terms cannot be performed within a year must be in writing to be enforceable -T 3. All promises must be in writing to be enforceable -F 4. There are no exceptions to the Statute of Frauds -F 5. The rights under a contract for personal service normally can be assigned - F 6. A contract that contains a clause prohibiting its assignment will usually prevent it from
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