CHRISCHER L. ALANES FINANCIAL ACCOUNTING REACTION PAPER – THE ENRON SCANDAL FACTS OF THE CASE Enron Corporation was formed in 1985‚ led by Kenneth Lay‚ as a result from the merger of Houston Natural Gas and Internorth that specializes in natural gases and commodities. In 1990‚ the company hires Jeffrey Skilling to lead the trading of commodities under deregulated market and Andrew Fastow later that year (USA Today‚ 2002). Deregulation of the energy markets allowed companies to place bets
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Valid Contracts Victoria Glaser American Intercontinental University Abstract A contact is a legal binding agreement made between two parties. A contract is only enforceable if both parties involved in the contract have agreed to give or receive something of value. When going into an agreement or contract it is important to know the type of contract. This paper will explore the various types of contracts and the meaning of each. Express or implied contracts‚ unilateral
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Negligence Issue 1: Chew’s Losses - $300‚000‚ Anxiety‚ Medical bills and the Closure of his stall. Suing Chew under misrepresentation A special relationship between Chew and Don [Hedley Byrne v Heller] Representor has reasonable grounds to believe his statement was true. Is a term; as Chew would not invest in the bonds if not for Don’s words. Sue for negligent misrepresentation (Using “But-for” test to assess damages) Suing under the Tort of Negligence‚ Chew has to prove: Duty of Care owed
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between fraud and misrepresentation. Answer: Distinction between fraud and misrepresentation: Sometimes the terms fraud and misrepresentation are used inter-changeably by readers however they are actually different. There is not a much difference between the two but a little one as misrepresentation does not directly mean fraud. Below is a table on the salient points to distinguish the terms: |Fraud |Misrepresentation
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April / May – 2012 CLM – 201 : Law of Contract - I SECTION - 1 (1) Each agreement is ? ? (A) Not contract (B) Contract (C) Both (D) No any one (2) Minor can not be done as promissory but he can be done as _________ (A) Promises (B) Guarantor (C) Both (D) No any one (3) There are essential elements for contingent contract (A) Four (B) Seven (C) Five (D) Ten (4) How many type of promises where proposals accepted ? (A) Four (B) Seven (C) Five (D) Ten (5) When
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Assignment One Assignment One LAW 107 – TRIBUNAL LAW LAW 107 – TRIBUNAL LAW ANSWERS: 1. The enabling statute for the Immigration and Refugee Board is the Immigration and Refugee Protection Act. 2. The Ontario Statutory Powers Procedure Act (SPPA) does not apply to the Immigration and Refugee Protection Act. 3. The Immigration and Refugee Board is subject to a right to statutory appeal as per section 62 and section 63(1)…..63(5) of the Immigration and Refugee Protection Act. 4. The
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DISCUSSION QUESTIONS: 1. What goals (target price‚ opening bid‚ bottom line‚ etc.) did the seller(s) and buyer(s) set for themselves in the negotiation? Did they reveal these goals to their agent? The goals of the buyer were not obviously revealed; because I was the seller I did know that my priorities and bottom line was set and that even though the seller was unable to pay two mortgages if the offer was not fair‚ then we would have to walk away. 2. Did you reach agreement
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Contract: a legally enforceable agreement General Rule (GR) for an agreement to be legally enforceable‚ following requirements must be satisfied: 1. There is an agreement between the parties (2 or more persons) 2. The parties intended to create legal relations 3. Each party has provided consideration‚ that is‚ paid a price or made a promise GR for an agreement to be formed: 1. One person (the offeror) has made an offer 2. Another person (the offeree) has accepted the offer 3. The offeree
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Because there is nothing to give back. Minor is responsible for the less price or the reasonable value whatever is less money. If they paid more than the market value they may be eligible to get some money back. 2. Station in life E. Misrepresentation of age F. Ratification Age 17 get in contract age of majority is 19 and the contract goes until 20. So if they want to cancel as a minor they need to cancel before age of majority. Ratification the
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Group Colleges Australia 1.What is the duty of disclosure? Ans:The insurance company needs information from the consumers to decide whether make a contract or renew a contract with consumers. And also the insurance company wants to decide the price of the contract and terms and conditions of the contract on the basis of the information which is provided by the consumers. The law enforces a duty of disclosure on consumers when they are looking
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