Consideration in contract formation ------------------------------------------------- Top of Form Consideration is essential to the formation of any contract made without deed. It distinguishes a bargain or contract from a gift. Lush J in the case of Currie v Misa (1875) referred consideration consist of a benefit to the promisor or a detriment to the promisee as: “Some right‚ interest‚ profit or benefit accruing to one party‚ or some forbearance‚ detriment‚ loss or responsibility given‚ suffered
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to advise The William Smith Company with respect to its business development matters. In consideration of the mutual benefits contained in this document‚ the following will set forth our agreement: 1. Capital Edge shall be The William Smith Company’s business consultant throughout the Term (as defined below) and when reasonably requested by The William Smith Company during the Term‚ Capital Edge agrees to advise William Smith Company in connection with its business. Capital Edge shall only be required to provide reasonable advisory
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Contents Chapter 1: Setting the Stage ......................................................................................... 1 The Problem................................................................................................................................... 1 A Fortunate Example .................................................................................................................... 3 Dependency Injection..............................................................
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contract law The parol (oral) evidence rule: Written contracts override oral evidence‚ as court expects all intention to be contracted. Collateral contracts: 44. De Lassalle v Guilford [1901]: P and D entered into lease‚ D assured P drains were in good order. However‚ drains were fault= house flooded. De: There was a breach of collateral contract in respect to the conditions of the drains Criteria for enforceability: Statement relied on is promissory‚ not supported by past consideration
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BLAW201 BUSINESS LAW I Professor Richard P. Freedman 215-895-2127 (Drexel) 3601 Market Street‚ Room 708 856-429-0020 (NJ Office) Office Hours: Tu & Th 6-8 AM; Tu after class; or by appt. 215-895-6975 (Fax) freedmrp@drexel.edu COURSE SUBJECT MATTER The subject matter of the course will be a comprehensive review of the law of contracts. In addition to the chapters referred to below‚ handout questions will be distributed to be discussed by the class at the end of the
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Business Law Case Study In the case presented‚ Biff Smith‚ the Chief of Police of the local department ordered a set of bicycles off of a local storeowner‚ Dirk Right. This was no simple order though‚ in fact Biff intended on starting a bike patrol unit within the local department. Biff went to Dirks Bicycle shop to place an order. The order was for five mountain bikes to be used for patrol so they had to be custom made in order to sport the police decals. Biff was very familiar with the Schwinn
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OUTLINE FOR COURSE ACCT5150: BUSINESS AND COMPANY LAW (For 2014-2015) COURSE OUTLINE Course Title: ACCT5150 Business and Company Law Description: This course seeks to provide an introduction to the institutions‚ doctrines and methodology of the law in the business and corporation context. The first part of the course will begin with an examination of the legal system of the Hong Kong SAR before proceeding to encompass a selection of topics in business law such as the law relating to contract‚ torts
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Business Law - Exam #2 - Chapters 5-7 True/False Indicate whether the sentence or statement is true or false. _T___ 1. Some torts are crimes. __F__ 2. The victim must actually suffer offensive contact before he or she can succeed in a cause of action for assault. __T__ 3. A battery occurs only if the victim suffers actual physical harm. __T__ 4. Slander involves the oral communication of defamatory language. __T__ 5. Oral defamatory statements must be communicated to a third party
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However‚ after the peaches were delivered‚ Chen refused to pay more than $5 per bushel. a. Chen must pay the higher price because the UCC does not require consideration in this case. b. Chen must pay the higher price because he accepted delivery of the peaches. c. Chen does not have to pay the higher price because the UCC requires consideration in exchange for a promise to pay a higher price than in the original contract. d. Chen does not have to pay the higher price because a valid original contract
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ANSWERS TO AICPA QUESTIONS CHAPTER 10 INTELLECTUAL PROPERTY RIGHTS AND THE INTERNET 1. (a) Computer software is covered under the general copyright laws and is therefore usually copyrightable as an expression of ideas. Answer (b) is incorrect because copyrights in general do not need a copyright notice for works published after March 1‚ 1989. Answer (c) is incorrect because a recent court ruled that programs in both source codes‚ which are human readable‚ and in machine readable object
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