training school. He has one of his brightest students‚ Banda Tasa who has been pursuing a programming course with his school for two years. Banda Tasa being unable to pay the tuition fees charged by the college entered into a contract with Hakainde Hamududu. Terms of this contract were that‚ for the award of a tuition waiver for the course‚ Banda Tasa would work for Hakainde Hamududu for two years after graduation. During the period of instruction‚ Banda Tasa obtained from Nevers Chipimo a laptop computer
Premium Contract
Pre-Incorporation Contract Problem A creative use of the common law provides a number of ways of avoiding the common law pre-incorporation contract problem discussed above. 1. Promoter as Trustee of a Chose in Action: The promoter could be treated as a trustee of a chose in action for the corporation. This would put the promoter under a fiduciary obligation to enforce the contract and would allow an order permitting the company to sue in the name of the promoter as trustee. 2. Company as
Premium Corporation Contract Common law
A] Indian Contract Act‚ 1872 The Contract Act serves as a Mother Act. The Contract Act has a direct link with most other Acts. Whenever two or more people want to establish a relation between/amongst them‚ there is a need for a contract: Sale of Goods Act (buyer-seller relation)‚ Partnership Act (principal-agent relation)‚ Negotiable Instruments Act (debtor-creditor relation) and so on. Key takeaways: • A contract is any promise or set of promises that are made by one person to another in return
Premium Contract
There are four main elements that must be in a contract to deem it valid. The first of which is an offer. The offer is the initial start to any interaction from one or more parties intending to enter into a contract. An offer is defined as‚ the price at which an individual is willing to sell a security or commodity. This is the opposite of bid‚ which is the price at which an individual is willing to buy a security. An offer is the same as an Ask. The person to make the offer or have something
Premium Contract
There are four elements to a valid contract. 1. At least two separate parties entering into an agreement: The agreement can be between two people‚ or one person and a company or between two companies. 2. The parties are qualified to agree to the terms and conditions in the contract: The parties must be of legal age and have an understanding of what the contract is and details it outlines. 3. Both parties are receiving consideration or value from the agreement: This is most commonly
Premium Contract
Aspects of Contract and Negligence for Business The aim of this brief article is to set out some key aspects of contract and the tort of negligence using the following headings: • The relationship between the parties • The nature of the obligation • Causation and remoteness of damage • The measure of damages. Using the same headings should remind you of the key aspects of each of the two areas in such a way that you are less likely to confuse them. (The words ‘contract’ and ‘negligence’
Premium Contract Tort
Tort Liability and Contract Liability A tort is a legal term for "a wrong." The "tort law" is composed of state statutes and court decisions that gives one the right to sue someone who causes harm to them‚ whether it’s a drunk driver‚ a corporation that manufactures a defective product‚ a credit card company that overcharges you‚ or a government bureaucrat that breaks the law or a school official such as a teacher or principal. The law of the state in which the school is located determines a school’s
Premium Tort Contract Law
Recognizing Contract Risk and Opportunities Ebel M. Aquino LAW/531 Sunday‚ June 21‚ 2015 Prof. Israel Camacho-Alicea Risks and Opportunities To do business you always have to measure the risks and opportunities to avoid bad losses resulting from bad operational business practices and poor contract execution. And in this case‚ Puerto Rico is no exception. The Civil Code of Puerto Rico establishes in Article 1213 Contract requirements (31 LPRA § 3391.) But no contract is effective unless the following
Premium Contract
OBLIGATIONS AND CONTRACTS Book IV‚ New Civil Code of the Philippines Title I‚ Obligations – Article 1156 to 1304 Title II‚ Contracts – Article 1305 to 1430 Outline of Topics: Obligations (Prelim-Midterm) Chapter 1- General Provisions Art. 1156-1162 i – Definition of Obligation ii – Sources of Obligation Chapter 2 – Nature and Effect of Obligation – Art. 1163-1178 - Obligations of Debtor - Rights of Creditor - Breaches of Obligation - Liabilities of Debtor - Remedies of Creditor -
Premium Law Contract Civil and political rights
Contract Administration Best Practices Diana Thomas University of Phoenix Law/531- Business Law August 23‚ 2012 Trina Eaddy Introduction This essay will examine how to best prepare a contract administration plan. The contract administration plan will examine different methods used in preparing a plan. This essay will explain how important it is to have technical and other support of personnel‚ the importance of surveillance‚ and to determine
Premium Management Contract Contractual term