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
Premium Contract Contract law Law
Table of Contents Introduction Law plays important roles to protect benefits‚ obligations and bringing fair for everybody in society. This report gives information about tortuous liability‚ contractual liability‚ vicarious liability‚ the tort of negligence and defences. After that‚ I can determine liability of person who is responsible when violations as well as providing advices for the legal problems in business of VJSC. (3.1) Contrast liability in torts with contractual
Premium Tort Tort law Duty of care
Business Law Final Denise Capalbo Chetum v. Knarles Issue: Defamation Rule: Under the common law‚ defamation requires a false statement of fact‚ of or concerning plaintiff‚ published to a third party and causing damages. Also‚ where defamation is about a public person or matter of public concern‚ the plaintiff must prove that the statement is false‚ and that the defendant either knew of its truth or acted with reckless disregard of the truth (malice). Analysis: Knarles’ statements
Premium Contract Tort Law
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
Premium Contract Tort Law
THE LAW OF BUSINESS ORGANIZATIONS CHAPTER 4 – Piercing the Corporate Veil Minne B Berkey v Third Avenue Railway Company Overview: This is a New York Court of Appeals decision in 1926 adjudicated by the legendary Justice Cardozo. In this seminal case on ‘piercing the corporate veil’‚ the Court of Appeals finds in favor of the Defendant‚ Third Avenue Railway Company. The Court holds that Third Avenue‚ the parent company of Forty-second Street Company‚ which operated a rail line upon which the
Premium Corporation Subsidiary Appeal
jurisdiction. Dependant on what discrimination law the Right to Sue letter is used will depend on what court the complaint will be filed. State or Federal Court systems are two separate and distinct institutions and have different rules of law. Comparing Differences in State and Federal Court SystemsBeginning an Equal Employment Opportunity Commission (EEOC) complaint is the only formal proceeding that must be satisfied prior to any state or federal civil litigation involving discrimination by an
Premium Supreme Court of the United States United States Law
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
Premium Contract Sales Auction
Business Law & Bankruptcy Assignment #4 Aquaman is president of a marine research company called Underwater Leagues‚ Inc. When his company conceived a dramatic new invention‚ he held off announcing the discovery until he bought 50‚000 shares of Underwater Leagues at $10 per share. After the announcement‚ the share price skyrocketed to $50 per share. The shareholders of Underwater Leagues‚ Inc. bring a derivative action suit against Aquaman claiming breach of fiduciary duty for violating 17 C.F.R
Premium Stock Stock market Shareholder
distinction is not always obvious and sometimes the courts are required to conduct tests to determine which of the two categories a person falls under. The reasons why the distinction between the two is so important include the fact that there are different levels of protection through employment legislation for each of the two‚ employers are much more liable for employees than for independent contractors‚ in the case of company liquidation employees are treated as preferential creditors whereas independent
Premium Employment
DIRECTORS COLLEGE OF BUSINESS School of Accountancy BACHELOR OF BUSINESS STUDIES BACHELOR OF BUSINESS INFORMATION BACHELOR OF ACCOUNTANCY 155.203 Law of Business Organisations Semester 2 2008 Wellington Week 7 Lecture 2 21 DIRECTORS (1) 21.1 Who is a director? Section 126. gives an extended meaning to the term director in order that the persons who actually run the company are liable as such in law. 126 Meaning of “director” (1) In this Act‚ director‚ in relation to a company‚ includes—
Premium Physical exercise Acts of the Apostles Supreme Court of the United States