Steven Westgate BUS345.01 Business Law I Chapters 9‚ 10‚ 11‚ 12‚ 13‚ 14‚ 15‚ 16‚ 17‚ and 18 Professor Sappington November 3‚ 2003 1) This would indeed be a contract called an implied-in-fact contract. This is a contract that is implied from the conduct of the parties. Unlike other contracts‚ the contract was created through the conduct of the parties‚ not through words. This is what Miller and McCleskey have done. The parties both agreed through their
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Charlie is going to rescind the contract. He demands return of his money and compensation for the loss of commission on several high profile sales of his business. He wants to rescind the contract because the package of software recommend by Carmine was obsolete‚ despite Carmine’s assurances. This problem is concerned with the contents of the contract which is term in the contract‚ the misrepresentation and unconscionable conduct. Charlie will claim that Carmine verbal assurances about the
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Importance of Business Law 1. To define Basic Setup of a business. Business law defines different types of business for setup‚ such as - Partnership‚ Proprietorship‚ Corporation (Private and Public)‚ etc. Such definitions of types of business help clarify ownership of the business entities. 2. To define Regulations for Business Operations. There needs to be certain rules and regulations to carry on various timely operations in any business regardless of the type of business. For industries
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Role and Function of Law Law/ 421 January 11‚ 2013 Professor Gary Matano The law plays an important role in business and society. The law imposes rules and regulation that carry out the moral standards of business and society. The laws help maintain the policies and ethical conduct of individuals‚ groups‚ and corporations run smoothly. In business law can build goodwill between merchants and consumers. This should be considered in commercial
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and the contract is a legal‚ because Az oil Co agree to supply oil per barrel to CRT Distributors Bhd. Consideration need not be adequate Section 26 “ an agreement is not void merely because the consideration is inadequate. Section 26 illustration (f) “ A agree to supply a quantity of oil at RM24.00 or Rm26.00. the agreement is a contract notusthstanding the inadequacy of the consideration. Case : Phang Swee Kim v. Beh I Hock (1964) MLJ 383. The appellant agreed to buy a land for from the
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What is the role played in contract law by the doctrine of consideration 1. Controversies and challenges of consideration. For a contract promise to be enforceable‚ that promise must normally be supported by consideration. Any contractual promise must be supported by consideration unless an exception applies. A promise will be supported by consideration if it’s given as part of a bargain or exchange rather than a gift. Second‚ the promiser or 3rd party should receive some act forbearance
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The Impaired Employee and Liability Identify and explain at least three ethical considerations. I believe that the first ethical consideration is the fact that the potential employee was upfront in revealing that he had a degenerative progressive condition that could result in a disability. He did not have to bring this to our attention and his physicians are not even able to predict when the disabling condition will appear or if it will appear at all. The candidate was demonstrating his
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[pic] “Consideration and its rules” Assignment# 1 [Law-200] Prepared By: Prepared For: Name: M Shahajada Hossain Barrister Ishtiaque Ahmed (ItA) ID#: 071-573-530 Section: 09 B.B.A Date: 26th October‚ 2011. Consideration: Consideration is a very important element in a contract. While making a contract; parties of the contract agree
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Title Course Instructor Date Women’s Progression Through Employment and Labor Laws The United States of America is known as the land of the free and home of the brave. Americans are privileged to live in a society where there are laws created and continuously enforced to ensure the protection of the citizens’ rights. Law-breakers have consequences and punished for their wrongdoings and not obeying the law. The government is expected and challenged to practice equality in all decisions
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contract who is of age of majority according to law to which he is subject‚ and who is of sound mind‚ and is not disqualified from contracting by any law to which he is subject.” It means that the following three categories of persons are not competent to contract. 1. A person who has not attained the age of majority‚ i.e.‚ one who is minor. 2. A person who is of unsound mind 3. A person who has been disqualified from contracting by some law. Although the above mentioned categories of
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