unfair advantage of special disadvantage: Abuse by one party of its superior bargaining position in its dealings with the other party.[3] Application In this case‚ Ji is an elderly man and has difficulty in understanding English. He has had no business experience himself. The manager of XZA Bank is aware that Ji has no other assets and is dependent on the old age pension for all living expenses then still persuades Ji to sign the mortgage contract immediately without informing Ji of the consequences
Premium Contract Common law Contract law
Introduction: Contract law is come from a Latin phrase‚ which is pacta sunt servanda (pacts must be kept). Everyday‚ all of us make contracts. It can be a written contract if required‚ for example when buying a car. On the other hand‚ the most common of contracts can be and are made orally‚ like buying from the mini market. A contract intends to make a legal agreement between two or more people or businesses (called parties) that sets forth what the parties will or will not do. Thus‚ The law recognizes breach
Premium Contract Contractual term
Mia K. Thompson LS311- Business Law I Kaplan University Professor James Starcher November 13‚ 2012 Introduction The purpose of this assignment is to discuss the renovation of Danile and Sondra Estelle home. To finance the cost they obtained a line of credit from Banc One‚ Indiana‚ which periodic does inspections to disburse funds. When the bank did the inspection they found the work to be of poor quality. When Allen failed to act on the Estelle’s complaints‚ they filed a suit in an Indiana
Premium Tort Contract Negligence
2012 – OCTOBER SEMESTER 2012 STUDENT NAME: CHU 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
Premium Contract Consideration Corporation
CURTIN COLLEGE BUSINESS LAW 1100 ASSIGNMENT TWO (30%) Part A - Four step process The case study which students are required to resolve using the four step process is set out below. Students are required to apply the relevant legal concepts and principles to analyse and solve the legal issues arising in the case study by explaining and applying their knowledge of the legal principles and rules arising in Australian legal system: topic four to five inclusive. Please note also that
Premium Contract Bicycle
judiciary to apply statutory interpretation‚ to interpret words of a given Act‚ to give them an exact meaning and to give them legal effect. Statutory interpretation is an integral part of the court ruling process‚ as the role of a judge is to apply the law‚ not make it. When trying to establish Parliament’s intention within an Act‚ there are various aids available to help. Firstly‚ there are three approaches to interpretation. The first of these is the literal rule‚ where‚ according to Martin (2007)1
Premium Law Common law
University of Macau BBEL 230 –Business Law I Macau‚ 28 March 2010 MID-TERM EXAM (Part I) |Write your full identification‚ Western name and section. | |Only the legislation‚ without any forbidden notes‚ can be used. | |Dictionaries are allowed.
Premium Contract Offer and acceptance Gentlemen's agreement
ii. Stakeholder One: Congress (Democratic Party) Since Democratic Party is the one who proposed this law‚ most Democratic senators supported the medical device tax law. Obviously‚ this law will make the implementation of Affordable Care Act become more easier. The Affordable Care Act will be successfully only when government has enough money. Moreover‚ although many medical device manufacturers asserted that this tax is harmful to their businesses‚ these senators think that this tax just a small
Premium Health care Health insurance Medicine
“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 should be followed. They are intention to create legal relations‚ agreement‚ consideration‚ legal capacity
Premium Contract Common law
Breach of Contract Reading: George Shenoy and Loo Wee Ling (eds)‚ Principles of Singapore Business Law (“PSBL”)‚ (Cengage 2013)‚ Chapter 18. We will concentrate in class mainly on Damages. Note that PSBL chapter 18 addresses the topics in a different order from this Outline; we will in general follow the order of the Outline Note: References below to Poole are to Jill Poole‚ Casebook on Contract Law (10th ed‚ 2010)‚ which is available at Course Reserve in the Library. References to previous
Premium Contract Law Breach of contract