CONTRACT – REMEDIES (Pg 183) Damages |Damages is the principal common law remedy for a breach of contract. It refers to the monetary compensation payable by the defaulting party. | |Assessment |Aim of unliquidated damages | | |The general principle of assessment is that the injured party is to be placed in the same financial position he
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Assessment 1: Individual Assignment Question 1 (a) Consideration is one of the four main elements to be present in order to have a legally binding contract. Consideration can be anything of value (such as an item) which each party must agree to exchange for the contract to be valid. For consideration to be sufficient‚ both parties have to have an agreement. If only one party agrees to it‚ then the agreement is not consider a legally binding contract. Something must be given or promise in exchange
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1- Contract law provide rules to determine which contract terms will be enforced and which promises must be kept. True or False 2- A is an assertion that something either will or will not happen in the future. A: 3- A contract needs two requirement and Agreement is required to form a contract‚ regardless of whether it is formed in the traditional A: 4- which is generally defined
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an antiquated response. However‚ discrimination can and does still happen in a company‚ and is not limited to gender discrimination. Consequently‚ every company is very careful about their operations and employee treatment in today’s business world. Many business entities have put together a human resource department to properly manage and take care of their most valuable resource‚ their employees. Over the years the government has also helped ensure that employees get proper treatment. Measures
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produce a written answer for each of the following problem questions using the ILAC approach and bring your answers in print form to your tutorial class on Teaching week 3. Topics Topics 1 and 2 – Introducing Law and Exercising Legal Skills Your preparation Read Chapters 1-3 of Business Law and attend the Lectures on the first two topics. Problem 1: There are a number of websites devoted to the republic issue. Sites such as that of the Australian Republican Movement (www.republic.org.au) support
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Richard misses his plane from London to Paris. Ryan takes him there by car. As he gets out of the car‚ Richard promises to pay Ryan $1000 for his efforts Issue: Is there any consideration for the promise made by Richard? The Law: Every contract requires an offer‚ acceptance‚ and consideration. Consideration is the exchange of benefit and detriment‚ for example‚ the making of a promise in exchange for an act. If a party voluntarily acts and then the other party makes a promise‚ the act is
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Business Law: An Introduction Learning Outcome 1 1. Identify & describe the source of legislation that are binding in Scots Law and quote at least one example. Legislation comes in 4 main sources in Scotland; UK Parliament‚ Scots Parliament‚ European Union and delegate legislation. UK Parliament Laws that are passed by Parliament come from proposals that are made by the Government. These proposals aim to shape society or address certain problems. Once such proposals have been
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Consider the possible conflicts between legally doing business and selling fast-food‚ given the increasing evidence of how it is a significant contributing factor in public health‚ obesity‚ and diabetes facing many Americans. Now‚ based on what you’ve learned in this module‚ answer the following: A) After reading the Inside Story section of Chapter 1‚ do you agree with how Disney Company is handling the issue? Why or why not? B) Does government (federal‚ state‚ or local) have a right or a responsibility
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Federal court The Federal Court is the highest judicial authority in the country. It was established pursuant to Article 121(2) of the Federal Constitution. Its decision binds all the courts below. The Federal Court hears appeals from the Court of Appeal. Leave to appeal must always be obtained prior to proceeding with the appeal. The Federal Court is headed by the Chief Justice. According to Article 122(1) of the Federal Constitution‚ the Federal Court shall consist of the Chief Justice‚ the President
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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. A person who has not attained the age of majority‚ i.e.‚ one who is minor. 2. A person who is of unsound mind 3. A person who has been disqualified from contracting by some law. Although the above mentioned categories of
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