AGENCY RELATIONSHIP An agency is a relationship which exists when one party called the principle appoints and authorizes another called the agent to enter into a contract with a third party ‚ which contract is legally binding to both parties. An agent is therefore a party who is authorized to represent or act on behalf of another for the purpose of bringing that other party into legal relations with a third party. A Principal is a party who authorizes another party to represent or act on his
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Traits associated to a psychopath include irresponsibility‚ manipulation‚ grandioseness‚ lack of empathy‚ asocial tendencies‚ inability to feel remorse‚ refusal to take responsibility for one’s actions and superficial relations with others. Modern day corporations display every one of the previously listed characteristics. Is it right that an institution‚ whose power now rivals that of the State that once created it to seek the better welfare of its citizens‚ display the psychological traits of
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Corvette Stingray‚ even though she has not received the acceptance note yet? Yes this is a binding contract between the two parties. While this may be an unconventional acceptance of an offer‚ it is still binding contract between our client‚ Mr. deCapo and Ms. Daughtery. Ms Daughtery sent our client an offer note on February 13‚ 2008‚ selling her 1965 Corvette Stingray for the amount of 25‚995 plus all title transfer fees. Approximately thirty days later our client Mr. deCapo sent Ms. Daughtery
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1. a. b. c. d. 2. a. b. c. d. 3. a. b. c. d. 4. a. b. c. d. 5. a. b. c. d. Mark intentionally pushes Don. Don falls to the ground and breaks his arm. Mark is liable for the injury only if Mark did not intend to break Don’s arm. only if Mark had a bad motive for pushing Don. only if Mark intended to break Don’s arm. if Mark intended to push Don. Jill accuses of Ken of committing an assault. A person commits an assault if he or she creates in another an apprehension
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agreement‚ which is made up of an offer and an acceptance of that offer. In addition‚ there usually must be consideration to support each party’s promise. The contract must be between parties who have capacity to contract‚ and the objective and performance of the contract must be legal” (cited in Mallor‚ J.P.‚ Barnes‚ A.J.‚ Bowers‚ T.‚ & Langvardt‚ A.W. (2010). Business Law: The Ethical‚ Global and E-Commerce Environment. New York McGraw-Hill/Irwin. pg. 328). An offer is the promise made by one party
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Homework 4 Chapter 26 1. Revocation. No. The gender of an emu is not discernible by mere external observation. The only certain way to tell‚ apart from internal examination‚ is to observe them in mating. Smith‚ upon observing both Rachel and Andrew‚ her two male breeders‚ grunting‚ concluded that she had two male emus and not a male and a female breeder because grunting is a male trait. Rachel may have looked like a female emu and walked like a female emu‚ but it did not sound like a female
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and it was not a counter-offer. There was no effort here to institute new clauses into the contract. As per above case‚ Palm Tree did not attempt to introduce new terms into the contract and it was a mere request for information not a counter-offer. Belton responded as an acknowledge receipt and packed twenty Fryers into its delivery truck for Palm Tree. Belton’s action was supported that they understood as a clarifying the terms of offer and it was not a counter-offer and it was an acceptance.
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contract law includes offer‚ acceptance‚ consideration and an intention to create legal relation. In the scarnio give‚ we need to ascertain the basic fundamental of the contract law. The possibility of Bill taking legal action against John is high as the elements of contract law are present. However‚ in the case of Adam‚ the possibility to take legal actions against John would be much lower. An offer need to be present in order for a contract to be valid. However‚ an offer must be differentiated
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purchase of the handbag. It concerns the legal principles in the formation of contract including offer‚ acceptance and rejection. The first issue is whether the email sent by Amanda to Tracy on 11 April is an offer or invitation to treat. An offer is a definite promise or proposal to be bound on specific terms and it has to be definite
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consideration. Consideration means that something of value passes from one party to a second party in exchange for a promise of the second party. The value must be consistent with the second party’s promise. 4. The parties must reach an agreement by offer and
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