Aspects of Contract and Negligence for Business In today’s business perspective‚ when we deal with varieties of sales and buying‚ we are simply using different types of law about business which are formally known as business law. The importance of business law in business world is very much significant. Business operates in an increasingly global environment where the laws of different government and judicial system might conflict. That’s why‚ it is very much essential to know about the legal law
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The ways in which contracts can become frustrated A contract may be discharged by frustration on a few circumstances. According to Section Contract Act 1950‚ there are provisions of three (3) clauses which may be the circumstances of frustration of contract. Generally‚ contract can become frustrated when an agreement to do impossible or unlawful act has been made. Referring to the Contract Act 1950‚ the three clauses provide for frustration of contract are as follow: * S57 (1) CA - An agreement
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offeror’s actual meaning was otherwise. * Definition: indication by one person to another of his or her willingness to enter into a contract with that person on certain terms. The ‘offer’ must indicate a willingness by the offeror to be bound without further negotiation as to the terms of the proposed contract. * Offer creates in the offeree a power to create a contract by their unilateral action. * Whether a statement is an offer depends on whether the person to whom it is addressed would reasonably
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CONTRACT & AGENCY LAW END-OF-COURSE ASSESSMENT JULY 2012 PRESENTATION Submission Date : 08 Sept 2012 Question 1: Legal issues: As there are different parts to “Clause 8” in the employment contract which Julia as an employee has signed with Calypso Private Limited‚ we shall examine four separate legal issues. The first legal issue is whether Calypso is able to enforce part (a) of Clause 8 which states that Julia shall not be directly or indirectly
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Business Advisory Service Legal responsibilities for business owners Advise for new business owners about: * Legal status and risk involved * Contract Law * Consumer legislation Legal Status When starting up a business‚ one should decide which legal status to choose. Each legal status has its own different responsibilities and there are some risks involved. There are three types of legal status: sole trader‚ partnership and limited companies (Ltd & Plc). * Sole
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Contracts Contracts are an important part of everyday life. They are an essential part of business. As a student of a business law class‚ I will discuss in this paper several aspects of contracts. This paper will give a definition of a contract and the essential elements necessary to form a valid contract. It will briefly discuss breach of contract and the difference between a material breach and a nonmaterial breach of contract. Examples of legal and equitable remedies available for breach
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1973‚ Fischer Black and Myron Scholes first published the Black-Scholes Model in the paper‚ “The Pricing of Options and Corporate Liabilities”‚ published in the Journal of Political Economy. From this model‚ the Black-Scholes option pricing Model (BSM) was deduced as a means to price European options. The simplicity of the use of the BSM allowed traders to effectively price and trade options and derivatives in markets all over the world. It is still widely used today‚ although with some modifications
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Ans: No‚ Mary is not contractually obliged to pay Duncan the $8000. In the given case‚ there are circumstances that make this contract voidable. It is seen that Mary was intimidated by the Duncan presence and immediately agreed the Duncan’s offer. It seems that Mary was under the undue influence (even if Duncan has not such intention) while she concluded the contract because Duncan has represented himself in such a way that has probability to influence the mind of ordinary person and actually affects
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FAKBIK Submitted: December 17‚ 2013 Revised: April 20‚ 2014 An Equitable Marriage Contract in Islamic Law Critics of Islam often focus on the relationships between men and women and argue that Islamic marriages are inherently sexist. Apologists agree that in practice‚ certain interpretations “have so severely restricted woman that marriage becomes an institution of oppression for her.”1 Wadud argues that using marriage as the “means by which a woman is stripped of her individuality and
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EVA Comparison with Direct Employee Stock Ownership and Option Plans An employee stock ownership plan (ESOP) is a type of defined contribution benefit plan that buys and holds company stock. Employees do not actually buy shares in an ESOP. Instead‚ the company contributes its own shares to the plan‚ contributes cash to buy its own stock or has the plan borrow money to buy stock‚ with the company repaying the loan. All of these uses have significant tax benefits for the company‚ the employees
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