Aylwin Mathews(4447001) PART A “Consideration” Introduction: Latimer defines consideration as “something for something” or the exchange of promises from each party-from the promisor to the promise-which turns the agreement into a contract. Contracts are the basis of the business and therefore understanding the law of contract is essential for persons wishing to engage in business. There would be no business without contracts. To make a contract legally enforceable six prerequisites
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question is whether Micky has a contract with Ureach Mobile Co. Section 11 of Contracts Act 1950 provides who are competent to contract‚ that is those who are of the age of majority according to the law to which she is subject‚ have sound mind‚ and not disqualified from contracting by any law to which he is subject (KrishnanL‚ RajooL‚ & VergisA.C‚2009). On the other hand‚ the Age of Majority Act 1971 states that the age of majority is 18 years and above‚ and anyone below that age would be regarded
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THI HONG TUYEN ID No.: 2448481 BMLW5103 – BUSINESS LAW ASSIGNMENT Question 1 Discuss the enforceability of an agreement which lacks consideration. Using legal authorities (relevant statutes and cases) to support your discussion. Answer: A valid contract is an agreement made between two or more parties that creates rights and obligations that are enforced by law. What does the consideration mean? And what does it effect to the agreement? Consideration is something of value exchanged for the promise
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CXC PAST PAPERS SOCIAL STUDIES Before you begin to write your answers‚ choose OE of the following topics and write it in the space provided. (i) ’The changing role of women in the family’ (ii) ’The involvement of young people in organized sports’ Topic:_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 1. (a) State TWO reasons why a researcher would research the topic which you have stated above. (2 marks) (b)
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TUTORIAL 2 1. Ali and Abu were neighbours. Ali had to go to Singapore for a business seminar. Before he left‚ he told Abu “Please look after my house”. After two weeks of being away‚ Ali’s house caught fire and Abu could only save a briefcase containing RM30‚000. When Ali returned home‚ he thanked Abu for saving his briefcase and promised he would pay Abu RM2‚000 for what he had done. Later‚ Ali refused to pay what he had promised. Advise Abu. Referring to section 2(d) of Contracts Act1950
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Business and Law Coursework Assignment With regard to the case‚ there are two legal issues needed to be handled. First‚ it is needed to determine whether 1) Tommy can sue Ada for not reducing the height of fence which is eracted along the side of Ada’s garden 2) Mickey can sue Ada for not fulfilling her promise to pay $1000 for Mickey’s help. To determine the two legal issues‚ we need to consider if any contractual relationship was formed between them. To begin with‚ a contract is a legally
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genuine requirement for a job‚ such as‚ for example‚ the need to wear a hard hat when working on a construction site. Bona fide occupational requirement is a defence that excuses discrimination o a prohibited ground when it is done for a legitimate business reason. Bona Fide occupational requirement can be rejected if a male does not have the care‚ attractiveness and delegacy a women would have. Physical capabilities have also been rejected example a women not getting hired because she cannot lift
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OPEN UNIVERSITY MALAYSIA FACULTY OF BUSINESS AND MANAGEMENT Course Code: BBUN 2103 Course Title: Business Law Name: Mariyam Anoosha Afeef Student ID number: S11723225 Tutor Name: Ahmed Nasheed Learning Centre: Villa College Trimester: May 2012 INTRODUCTION We enter into contracts that are made orally‚ every day‚ without us even realizing. For example when we buy something from a shop‚ we make a contract with the shopkeeper. However sometimes written contracts are
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included contracts of utmost good faith‚ statement which are only partially true or distort the truth‚ and the statement which are true at the time of making but change before the contract is entered into. There must be a false statement of fact or law as oppose to opinion or estimate of future events in the case of Bisset v Wilkinson3. At the same time the representation must be untrue. And the person making the representation must know that it is false‚ or not believe in its truth‚ or be recklessly
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explained that the definition of “Coercion” in Section 15 above is limited to an unlawful act done ‘with the intention of causing the person to enter into an agreement’. This means that the definition of Coercion under section 15 applies solely to the consideration whether there has been free consent to an agreement so as to render it a contract under section 10 of the Contracts Act 1950. Similar to this‚ in Kesarmal s/o Letchman Das v Valliapa Chettiar it was held that a transfer executed under the orders
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