an enhancement of common law‚ commonly known as the second great subdivision of English law. Equity’s foundation is a judicial assessment of justice in contrast to the sometimes harsh and inflexible rule of common law. Historically‚ common law was known as the law‚ in contrast with equity. Equity sets aside contracts in the event of a party gaining a benefit through undue influence which is when an agreement is obtained by indecent pressure which is not duress at common law since no factor of violence
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QUESTION 1 (I) Issue: Will Simon be solely liable if things go wrong? Provisions/ Case law: A promoter is defined in Twycross v Grant (1877) as ‘one who undertakes to form a company with reference to a given project and to set it going and who takes the necessary steps to accomplish that purpose’. The promoter would be the person who undertakes the formation of a company by carrying out the procedures necessary for incorporation‚ person actually interested in the company or professionals who incorporate
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Amicable Heritable Securities V Northern Assurance Co 1883 11 R 287 5 Sloans Dairies V Glasgow Corp 1977 Scot CS CSIH_2 4 Wight V Brown 1845 11D 459 4 The concept of insurable interest and the alleged need under Scots law for the requirement of insurable interest by the insured in an insurance policy‚ have recently come under scrutiny. Why is this‚ and what should be done about the problems arising from the requirement for insurable interest? How realistic are the proposals
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CHAPTER 6: TRANSPORTATION‚ TRANSSHIPMENT AND ASSIGNMENT PROBLEMS Transportation Problem - A distribution-type problem in which supplies of goods that are held at various locations are to be distributed to other receiving locations. - The solution of a transportation problem will indicate to a manager the quantities and costs of various routes and the resulting minimum cost - Used to compare location alternatives in deciding where to locate factories and warehouses to achieve the minimum cost
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According to agent theory “agent cannot make a secrete profit”. Q 2: What are the essentials of valid contract? Explain each one in detail with examples. A contract is an agreement that can be enforceable by law. An agreement is an offer and its acceptance. An agreement which can be enforceable by law must have some essential elements. According to Section 10 "All agreements are contracts if they are made by the free consent of the parties competent to contract‚ for a lawful consideration and with a
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responsibility for the goods begin‚ and what was the condition of the goods at the time. In establishing the condition and the quantity of the goods at the start of the defendant’s period of responsibility‚ the claimant will be able to rely on the common law and statutory rules that governs the effect of the statements in shipping documents‚ such as bill of lading. As to this case there are no information about the about the period when the wine were transported‚ date when the contract has taken place and
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Hard Copy ASSIGNMENT METHOD The assignment problem is one of the fundamental combinatorial optimization problems in the branch of optimization or operations research in mathematics. It consists of finding a maximum weight matching in a weighted bipartite graph. In its most general form‚ the problem is as follows: There are a number of agents and a number of tasks. Any agent can be assigned to perform any task‚ incurring some cost that may vary depending on the agent-task assignment. It is required
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Introduction to Commercial Law Jasper Goh Jia Qing We would need to establish if there was a valid contract formed. As per Lord Wilberforce in The Eurymedon‚ an enforceable contract would have to consist of a valid offer and agreement‚ consideration‚ an intention to create legal relations and there has to be no vitiating factors. The first issue would be as to whether there was an offer on the advertisement regarding
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Question 1 In relation to the doctrine of consideration‚ is it possible for David Properties Ltd. to not pay the extra $10‚000 that was promised to tom? Enforceable promise must be supported by consideration under the contract law. The definition of consideration was defined by the courts based on the case of Dunlop Pneumatic Tyres against Selfridge. On the facts‚ David Properties Ltd. has promised to pay an extra $10‚000 and the issue that arose was whether Tom provided any consideration
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Issue: Whether directors of ABC Bhd had breach their duty as directors. Whether ABC Bhd can persue their claim against any other party related to ABC Bhd. Law: S.4(1) Company Act 1965 (CA1965) states that director includes any person occupying the position of director of a corporation by whatever name called and includes a person in accordance with whose directions or instructions the directors of a corporation are accustomed to act and an alternate of substitute director. For example‚ in the case
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