Any Kind Checks Cashed‚ Inc. v. Talcott it was crucial to determine whether holder of the instrument acted in good faith and fair dealing‚ as is required to have status of holder in due course. The definition of “good faith” is found in Commercial Law Article § 3-103(a)(4): “Good faith’ means honesty in fact and the observance of reasonable commercial standards of fair dealing.” The court upheld a trial court finding’s that Any Kind had not acted in good faith in cashing a check for $10‚000 but
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Sale of Goods Ordinance‚ Cap 26 shall apply in this case given the fact that the motorcycle seller sold the second hand motorcycle to Sam as a course of business‚ a legally binding contractual relationship for sale of goods was established although there was no information as to whether Sam bought the motorcycle was for business or private use. Besides‚ the car shall be defined as goods under (s.2(1)) of the aforesaid ordinance. The motorcycle seller was in breach of the implied conditions in
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Business Law Notes- July‚ 10‚ 2008 Review from previous class session July 3‚ 2008 The Rules of Law regulate relations Public Law: Relations between state and individuals • Exercise of power for state authority • Based on the Roman-German Tradition • Associated with the meaning of ‘Res Publica‚’ (which means State & Society collectively) • Great Importance placed on Public Law-according to the European Continental Tradition Anglo-Saxon Law: Based on Common Law • Case Law (law
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registered under the law (if any) for the time being in force for the registration of such documents‚ and is made on account of natural love and affection between parties standing in a near relation to each other. In other words‚ an agreement made on account of natural love and affection is binding if the following requirements are present: It is expressed in writing; It is registered (if applicable); and The parties stand in a near relation to each other --- Tan Soh Sim‚ Chan Law Keong & Ors v
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takes longer and cost more because the arbitrator needs time to hear from both parties‚ analyze facts‚ examine evidence and determine a ruling that is legally binding. Usually parties who decide to use the mediation process will continue to conduct business with each other; typically parties who use arbitration
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What is a contract? A contract is an agreement enforceable by law. 2. What is an agreement? An agreement is an arrangement between parties that creates legal obligations between them. Generally an agreement is said to be arrived at when an offer or proposal made by one person is accepted by another‚ with the intention of creating mutual obligations between them. 5. What are the essential features of a contract? Minimum two parties :- Atleast two parties are needed to enter into a contact
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Resolving Ethical Business Challenges Chapter One 1. What are the potential ethical issues faced by Acme Corporation? Acme is essentially bribing buyers to purchase their products. This could backfire on them if the buyers company gets wind of it. The reaction of the company may be to fire their buyer and cut off Acme all together. This of course could be potentially fatal for Acme in two ways‚ one by damaging their infrastructure though lost revenue and two by damaging their corporate
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a commercial building‚ damages of $1000 are payable. The completion is delayed by 20 days due to the fault of the contractor. How much can the innocent party claim if the actual loss suffered is $22‚000? Do you think generally‚ it is wise for a business to always have a liquidated damages clause? 2. At Your Service Pte Ltd is a big company which provides various travel related services‚ including overseas tour packages which are designed in-house. Tom‚ a customer‚ had booked a special in-house
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org/uk/cases/UKHL/1884/1.htmlAtlas Express v Kafco (Importers & Distributors ) Ltd (1989) QB 833 http://en.wikipedia.org/wiki/Atlas_Express_Ltd_v_KafcoAmalgamated Investment Co v Texas Bank (1982) Q.B http://www.bailii.org/ew/cases/EWCA/Civ/1965/3.htmlBusiness Law‚ by Robert W. EmersonPublished by Barron ’s Educational Series (2004)
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30th May Thursday 11-12 (replacement) 1b) Negligence misrep – For this‚ the common law negligent misrep is followed- i.e. that is duty of care‚ “special relationship” ‚ breach of standard of care‚ causation‚ and remoteness. 1c) Duress is pressure exerted by one person to coerce (influence someone to do smth) another to contract on particular terms. The main types are duress of the person “actual or threatened violence or unlawful imprisonment”‚ duress of goods “wrongful detaining‚ damaging or
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