CONTRACT LAW- EXAM NOTES What is a contract? An oral or written agreement between two or more parties which is enforceable by law. This agreement ‘will be legally binding if certain criteria are met – briefly‚ they require that there be an agreement (comprising an offer and acceptance)‚ consideration‚ intention to create legal relations‚ compliance with any formalities required by law and that the parties have the legal capacity to contract’1 What is the purpose of contract law
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historically the writ of deceit was available in narrowly defined circumstances involving abuse of process of the court. However‚ by the end 18th century ‚ a more general tort of deceit had emerged in which liability was based on fraudulent misrepresentation had been made available to the claimant‚ inducing detrimental reliance. The making of representation which a party knows to be untrue and which is intended to induce another to act on the faith of it‚ so that he may incur damage‚ is a fraud.
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On Bullshit Harry Frankfurt Princeton University One of the most salient features of our culture is that there is so much bullshit. Everyone knows this. Each of us contributes his share. But we tend to take the situation for granted. Most people are rather confident of their ability to recognize bullshit and to avoid being taken in by it. So the phenomenon has not aroused much deliberate concern‚ or attracted much sustained inquiry. In consequence‚ we have no clear understanding of what bullshit
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GM520ONO Legal‚ Political and Ethical Dimensions. Week 5 Midterm. 1. TCO B. Infuriated when Harry Reid is re-elected during the 2010 fall election‚ the Republican National Committee decides to take matters into its own hands. In 2011‚ the House of Representatives passes a new "Freedom isn’t Free Act" that requires that anyone who wants to vote in the 2012 presidential election must prove that they paid at least $200 in federal income tax in the past year‚ including people aged 18 (who typically
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business sellers and service providers. Learners will consider rules for the formation of contracts and develop an understanding of the legal effect of each stage in negotiating a contract‚ up to and including the final agreement. The law on misrepresentation and the terms in contracts are explored. It is central to the unit that learners understand the meaning of express and implied terms in a contract. They will examine a contract or contracts to consider the use of key terms. For example‚ terms
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subject matter of the contract is illegal at law‚ or the contract is not in the required form under a particular statute. For the purposes of this course‚ we focus on the topic of ‘absence of genuine consent’ and specifically the issues of misrepresentation (both innocent and fraudulent)‚ undue influence‚ duress and unconscionable conduct. In such circumstances‚ the parties have not entered into the contract voluntarily or with real agreement‚ although on the face of it‚ the rules for offer and
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Ethical problems in providing services to the customer In the process of providing services to the customer where many unethical practices occur‚ misrepresentation and over persuasion are the most common practice It also occur in 4 major areas a) While providing service to the customer b) How members of a business organization fulfil their duties and responsibilities c) How competitors treat each other d) Providing a price fair to the manufacturer‚ seller and buyer. Problems in providing
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COMMERCIAL LAW FEEDBACK EXERCISE The issue in this case is whether there is misrepresentation or breach of contract. The distinctions between the two legal issues of misrepresentation and breach of contract are dependent on whether the pre-contractual statement was made on the basis of a representation‚ or on a promise or obligation to be fulfilled. Breach of contract is a legal cause of action in which a binding agreement or bargained-for exchange is not honored by one or more of the parties
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Legal Environment of Business Class Notes 8/19/13 2 Branches of Law Civil vs. Criminal Civil Criminal Burden of Proof (quantum/amount of evidence) b.o.p is on plaintiff who initiates a civil action (51% preponderance of evidence - over 50% of the believable evidence is in the plaintiff’s favor) **Can have both Civil and Criminal in a trial burden of proving the defendant’s guilt is on the prosecution‚ and they must establish that fact beyond a reasonable doubt Remedies
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tort law INTRODUCTION TO THE LAW OF NEGLIGENCE…………………………………………….........4 Buchan v. Ortho Pharmaceutical (Canada) Ltd Hollis v. Dow Corning Cor Tobacco Tort Cases in Ontario (1) THE DUTY OF CARE: GENERAL PRINCIPLES……………………………………………….....6 (a) An Introduction to the Concept of Duty……………………………………………………...6 (i) General Duty of Care Test……………………………………………………………..6 Donoghue v. Stevenson (sets out general neighbour DoC)
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