he sent Bob an offer to lease Oceanhaven for the season. Was there an indirect revocation of the offer on February 4th? The knowledge by an offeree from a reliable source that offeror can not perform. It requires acts inconsistent with the contract. The facts assert that Bob learned about Oceanhaven no longer being available on February 4th. Further‚ Bob heard this information from his real estate agent. Since his real estate agent is probably in the business of knowing what properties are
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The Psychological Contract and its application The psychological contract and its application After the first descriptions and definitions of psychological contract 1960s‚ a great number of experts show their opinions on this topic and discuss with each other. The widely acknowledged definition of psychological contract may be in Michaei Armstrong’s book‚ the human resource management practice(10th Ed.‚2006‚cited in business ball):`…the employment relationship consist of a unique combination
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Recently‚ most employers find “Zero hours” contract of employment more suitable for their business. The reason behind this could be that employers are trying to find cost-effective ways of meeting short term staffing needs. Some employees would prefer having a Zero hours contact rather than having a set hour contact where the employee will have to work the hours that the business has required them to do. Zero hour contract might suit employees who may think about wanting occasional earning not fixed
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1.0 INTRODUCTION TO CONTRACT MANAGEMENT A contract is an agreement having a lawful object entered into voluntarily by two or more parties‚ each of whom intends to create one or more legal obligations between or among them. The elements of a contract are "offer" and "acceptance" by "competent persons" having legal capacity who exchanges "consideration" to create "mutuality of obligation. i.e. 1. Offer and Acceptance 2. Competent Persons 3. Consideration 4. Mutual Obligation 5. Lawful
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M2014036 1 2 Contract Defined An agreement between two or more parties representing a promise to be performed for consideration 3 Necessary Parts of a Typical Construction Contract O Parties identified O Parties make promises that constitute an offer O Both parties sign the contract O Both parties receive consideration: O Contractor – payment for work done O Owner – use of the completed project O Parties of the contract must have the LEGAL AUTHORITY to negotiate a contract 4 Contractual
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Contract Paper Danny Davidson sold a single family home to Paul and Priscilla Peterson. A long-term relationship between Danny and Paul is the basis for not including a written agreement. The simple contract was made orally and only included the legal object and the amount to be paid. Danny did not disclose a dispute with his neighbor over boundary lines or include information about a soil subsidence in the front yard he claims not to have known about. Contract Elements Four elements are necessary
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Tutorial 5 1. Naeve Soh‚ a diploma holder enters into an employment contract with a company as an accounting assistant. The working hours are 8am to 9pm daily except for Sundays and Public Holidays. The pay is $2100 per month. The market rate for a similar job is $3700 and employees in similar jobs in other companies work generally only from 8 am to 6 pm. After working for two months Naeve Soh feels all this is very unfair and wants to challenge it. (a) Assuming there is no statute prohibiting
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ACKNOWLEDGEMENTS First of all‚ I would like to say thank you express to all the lecturers for the course of Master of Science (Construction Contract Management)‚ especially my supervisor – Encik Norazam Othman‚ for their guidance during the writing of this master project. Without their supervision and advice‚ this project could not be completed on time. Secondly‚ I would like to express my gratitude to my dearest parents and brother for their support and advice during these few months. Not
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Topic 2: LAW OF CONTRACT (Offer) Readings: Lee Mei Ping‚ General Principles of Malaysian Law‚ 5th Edition‚ 2005‚ Oxford Fajar Sdn Bhd Abdul Majid‚ Krishnan Arjunan‚ Business Law in Malaysia‚ 2005‚ Lexis Nexis Malayan Law Journal Beatrix Vohrah‚ Wu Min Aun‚ The Commercial Law of Malaysia‚ 2nd ed.‚ Longman‚ 2000 Malaysian Contracts Act 1950 (http://www.agc.gov.my/) law of Malaysia/numerical table of laws/Act 1136 Contents: 1. Introduction 2. Contracts and Agreements
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Pre-Incorporation Contract Problem A creative use of the common law provides a number of ways of avoiding the common law pre-incorporation contract problem discussed above. 1. Promoter as Trustee of a Chose in Action: The promoter could be treated as a trustee of a chose in action for the corporation. This would put the promoter under a fiduciary obligation to enforce the contract and would allow an order permitting the company to sue in the name of the promoter as trustee. 2. Company as
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