NAME: FIN NO.: BATCH NO.: MODULE: BUSINESS LAW LECTURER: MR MAHADEVAN LUKSHUMAYEH Question: In early 2013‚ Beauty property developer negotiated with Stylish over a new house in the eastern sector of Singapore. Beauty and Stylish had various meetings about the cost and finish of the house. At one of their meetings‚ Stylish asked Beauty whether the price of the house included curtains‚ blinds and window coverings. Beauty explained that all window coverings were provided for in the contract
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1. An exemption is a clause in a contract that exempts or removes liability from one or both parties in certain circumstances. Exemption clauses are used frequently in business organization contract. These clauses apportion risk between the parties concerned and the law upholds them‚ assuming the parties negotiated them while drafting the contract 2. The two ways in which exemption clauses can be incorporated in a contract are: (1) Incorporation by notice and (2) Incorporation by signature
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information about the importance of accountant’s liability to third party. In 1931‚ the case of Ultramares Corporation v. Touche brought about a very crucial segment of accountants liability to their clients. In this case‚ accountants were found negligent to the creditors. At this time‚ accountants were not liable to creditors because they were not primary beneficiaries and “ordinary negligence is insufficient for liability to third party because of lack of privity of contract between the third party
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Genuine Assent is a complete agreement between two competent parties. A party who demonstrates that he or she did not genuinely assent to the terms of a contract may void the contract. Genuine assent may be lacking due to mistake‚ fraudulent misrepresentation‚ undue influence or duress. Contracts lacking genuine assent are voidable‚ not void. 1. Where do you stand? In the hot debate on page 126? 2. Define rescind 3. Use the word in an original sentence 4. What’s your Verdict? Can Cameron rescind
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claims under it. The General rule to Duty to Disclose is found in Woolcott v Sun Alliance and London Insurance Ltd. Misrepresentation by the insured… avoiding the contract. It is usually considered less important than the doctrine of non-disclosure and has often been subsumed by it as a result. Nevertheless‚ it is different from non-disclosure as misrepresentation focuses on the untruth of statements made by the insured whereas non-disclosure deals with the insured’s silence. It is usual
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281).” Generally‚ fraudulent misrepresentation refers only to misrepresentation that is consciously false and is intended to mislead another. Typically‚ fraud involves three elements; a misrepresentation of a material fact must occur‚ secondly there must be intent to deceive‚ and lastly the innocent party must justifiably rely on the misrepresentation. To collect damages‚ a party must have been harmed as a result of the misrepresentation. Fraudulent misrepresentation can also occur in the online
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Business Law assignment In early 2013‚ Beauty- a property developer and Stylish- their customer have a contract over a new house in the eastern sector of Singapore. The house was completed in late 2013. Stylish isn’t happy with the contract because blinds‚ curtains and other window coverings were not provided in the new house. In this research paper‚ we will advise and discuss about Stylish’s contractual rights in relation to the window coverings. Firstly‚ we need to see if this contract is valid
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The case between Beauty and Stylish involves concept of a valid contract‚ pre-contractual statements‚ express term and misrepresentation. A valid contract is established between Beauty and Stylish when an offer is accepted and there is intention for both parties to create legal relations. An offer refers to the expression of willingness of the offerer to be contractually bound by an agreement if his or her offer is properly accepted. It has to be clear and certain in terms. It must also be communicated
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Chapter 12 Legal Value * Promise to do something that one has no PRIOR legal duty to do. * A performance of an action that one is not obligated to do * Refraining from an action that one has a legal right to do (forbearance) Rescission- the opposite of forming a contract‚ and bring the parties to the positions they occupied before the contract was made Past consideration- no consideration or a promise to give another something of value in return for goods or services rendered and
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Pauls actions contributed to misrepresentation‚ if yes what remedies are available to Jenny • Are there any arguments available to Paul as it relates to counter claiming the action of misrepresentation brought against him Rules • A misrepresentation is a false statement of fact‚ inducing another to enter into a contract. There are different types of misrepresentation. Fraudulent misrep‚ negligent misrep and innocent misrep. • A fraudulent misrepresentation is found where the representor
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