LAW ON OBLIGATIONS AND CONTRACTS* I. Introduction A. Law - from the Latin word “lex” which is derived from the verb “Ligare” meaning “to bind” - a rule of conduct‚ just and obligatory promulgated by legitimate authority for the common observance and benefit (as defined by Sanchez Roman‚ a Spanish Civilist) B. Sources of Law 1. Legislative- Congress 2. Constitution- supreme law of the land 3. Administrative or Executive Orders‚ Regulations and Rulings-
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Discuss | Print | | | | Works Contract Composition Scheme - Restriction on input credit for certain input services MARCH 01‚ 2011By Santosh HatwarWORKS Contract (Composition Scheme for Payment of Service Tax Rules‚ 2007 provides that a service provider engaged in provision of ‘works contract service’ has an option to pay an amount of 4% of the gross amount charged for the works contract.For this purpose the ‘gross amount charged for the works contract’ means an amount which includes the value
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Pre-romanticism - preceded by Neoclassicism (1660-1780) - 1660 John Dryden - 1780 – deterioration‚ Johnson died - Prescribed forms‚ language – all artificial William Blake (1757-1827) - London - After Neoclassicism - Earlier than other writers - Left London only once in life - Son of lousier - Self-taught ; painter‚ illustrator for a living - Attended Royal Academy if Arts (not wanting to succumb ro tules Sir John Reynolds who set the rules for painters‚ WB didn’t obey‚ left)4 -
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delay must be compensated. The amount of compensation is usually set in advance and called ‘liquidated damages’ - Use a straightforward calendar date to name the delivery date: 15th September 2010‚ for example. The parties often plan for the contract to come into existence in two steps: the signature date and the date of coming into force. The date of coming into force is not usually a calendar date‚ but the date on which the last precondition is met. Common preconditions are: + Receipt
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Pre writing November 2009‚ a moment in my life will never be forgotten. My day started off as it usually would. Started my morning off with a nice warm shower‚ brushed my teeth and picked out my outfit for the day. That weekend I was so excited to travel to the Bronx New York to spend time with family and friends. My best friend picked me up from my mom’s house and then down to the gas station as I’m pumping the gas I see my best friend walking towards the car with serious face. As he approached
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CREDIT SEMINAR REPORT ON CONTRACT FARMING [pic] Submitted to: Submitted By: Dr. Madhu sharma M. Nageswara Rao Associate Professor MBA (AB) 1st year Institute of Agri Business Management Rajasthan Agricultural University Bikaner Rajasthan 2008-2010 CONTENTS 1. INTRODUCTION 1.1. DEFINITION 1.2. BROAD OBJECTIVES
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Definition Bilateral Contract A bilateral contract is a legal agreement formed between two parties where both parties involved give mutual promises that they both are legally obligated to perform an act in exchange for the other party’s act in future. It means the promise of one party is consideration supporting the promise of the other party. Each party is both promisor and promisee. A bilateral contract specifies a duty to act in exchange for another party’s duty to act. It is also called "reciprocal"
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As I’ve read the pre-Spanish era given by Mr.Ralph‚ there are a lot of things I’ve learned‚ things that recalled me about the history of the Philippines and the situation we had in the arms of the Spaniards. First‚ when it comes to the people who were involved in the whole history about our country‚ many of them exert their efforts and their ideas on how things are possible and how it can work. Different places also contributed their ideas to the development of the history by observations that they
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Introduction For parties to be bound by an agreement‚ it must first be determined if a prima facie valid and enforceable contract exists. A contract can be defined as an agreement containing promises made between two or more parties with the intention of creating certain legal rights and obligations and enforceable in a court of law [1]. For a legally binding contract to exist the following elements must be satisfied: 1. An offer must exist 2. The offer must be accepted 3
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The Law of Contract Voidable Contract – Coercion The word “contract” can be defined as a voluntary‚ deliberate‚ and legally binding agreement between two or more competent parties. Contracts are usually written but may be spoken or implied‚ and generally have to do with employment‚ sale or lease‚ or tenancy. A contractual relationship is evidenced by an offer‚ acceptance of the offer‚ intention to create legal relations‚ consideration‚ certainty and capacity. However‚ while all parties may expect
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