Chapter 11……….Contracts‚ Consideration‚ Capacity and Legality Consideration: Value given in return for a promise. Consideration must be (1) legally sufficient and (2) bargained for by the party receiving it. Legally sufficient consideration may take the form of: (1) promising to do something that the promisee has no prior legal duty to do (e.g.‚ promising to pay money for the promisor’s goods); Regular consideration (2) performing an action that the promisee is not otherwise obligated to
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2(a) of Indian Contract Act states that‚ "every promise on every set of promises forming the consideration for each other an agreement. An agreement is a form of cross reference between different parties‚ which may be written‚ oral and lies upon the honor of the parties for its fulfillment rather than being in any way enforceable. It is also a fact that an agreement is a proposal and its acceptance‚ by which two or more person or parties promises to do abstain from doing an act. But a contract
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Has anyone ever broken a promise to you? Someone has broken a promise to me before‚ it was my friend who I lend a money and we both signed an agreement with the date of returned and on the document was that names of the guarantor and witnesses. After the due date‚ he did not fulfill the promise made on the agreement‚ he started pleading. Were those promises legally enforceable promises? The promise was legal enforceable simply because we have already made and signed an agreement‚ which was
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sorts to a culture at ESPN that truly goes the extra mile in emphasizing customer satisfaction by offering its programming thru state-of the art program offerings thru multiple channels. A brand promise sums up the essence and meaning of a brand and how the brand connects to its consumers. ESPN’s promise of delivering “Sports‚ with Authority and Personality‚” clearly outlines what they do‚ how they do it and what differentiates them from their competition. With respect to Sports‚ ESPN connects to
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A strategic approach to human capital will enable employees to deliver to their fullest potential. any companies fail to deliver on the promise that their brand‚ implicitly or explicitly‚ makes to customers. Automakers promise a whole new experience in car ownership‚ but perpetuate the same old sales pressure and haggling at the dealership. Banks promise one-stop shopping‚ then require multiple conversations and handoffs for different products. Airlines tout their kid-gloves treatment for business
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the people to reciprocity: God’s promises of His eternal presence‚ love‚ and blessings in exchange for their personal and corporate dedication to living life in a way that would emote joy from God at the maturing spiritual condition of His creation: A people developing discipline toward becoming centered on the divine will of God. This paper will examine a number of the various aspects of God’s nature and how they are specifically revealed through covenant promises and conditions as tools to communicate
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today will tell the truth‚ only to help benefit themselves and get out of whatever horrible situation they have got themselves into. Keeping promises is also something that can’t be held and taken seriously because of the intentions and what will be gained from not keeping any type of promise. Kant’s valid reasons on why lying isn’t right‚ and why keeping promises isn’t a good idea at all‚ can be seen through many observations that give us a better understanding of what’s right and what’s wrong A lie
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elements in writing‚ though contracts can be made orally. Section 2(h) of the Indian Contract Act‚ 1872 defines a contract as an agreement enforceable by law. Section 2(e) defines agreement as “every promise and every set of promises forming consideration for each other.” Section 2(b) defines promise in these words: “When the person to whom the proposal is made signifies his assent thereto‚ the proposal is said to be accepted. Essentials of Contract: Every contract is said to have the following
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Issue The issue here turns into a simple question: was Mary’s oral promise to guarantee Glenn’s debts an enforceable contract? Holding After a close examination of the facts and evidence the court held that the oral promise made by Mary to guarantee her husband debt did not represent an enforceable guarantee contract. Thus Mary won the case. Reasoning The reasoning of the court is that the status of fraud forbids any promise to pay the debt of another unless it is put in writing‚ therefore since
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for resale. If he were to make a sale on credit in exchange for a promise to pay money‚ why should he not be permitted to sell that promise to someone else for cash with which to carry on his business? One difficulty was that the buyer of the goods gave the seller only a promise to pay money to him. The seller was the only person to whom performance or payment was promised. If‚ however‚ the seller obtained from the buyer a promise in writing
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