Common law and equity: the reasons behind the creation of equity. What is it and how is it different from common law? What is the present relationship between common law and equity? Methodology In order to provide a broader image of the principles applied by equity and the common law‚ secondary research was carried out. The process involved both gathering information from the internet websites and Business Law textbooks. Findings The development of English
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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
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Part A Question 1: Step 1 The issue of law it that for a reasonable contract to be established‚ whether the element of agreement required for the formation of a contract can be formed in parties. Step 2 A legally enforceable contract can be organized by three significant parts; there are intention‚ agreement and consideration. With regards to agreement‚ it means a discussion of the consensus on critical terms needed for a workable transaction. Generally‚ while the parties intended‚ an agreement
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Question 1 Explain in which way an agency may be terminated by operation of law. (3marks) Answer: An agency is created by express appointment when the principal appoints the agent by express agreement with agent. This express agreement may be an oral or written agreement between the principal and the agent. There are four factors can cause the termination by operation of law. i. Agency is terminated by frustration In Marshall v Glanvill‚ Glanvill who is a firm of drapers appoints
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" True False A business is any organization that is engaged in making a product or providing a service for a profit. True False Businesses and society are independent of one another. True False The stakeholder theory of the firm argues that a firm’s sole purpose is to create value for its shareholders. True False The instrumental argument for the stakeholder theory of the firm says that companies perform better if they consider the rights and concerns of multiple groups in society. True False The
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regulation in Saudi that has specific implication when settling disputes. It is forbidden in Islamic law by Qur’an when the operation concerned is risky and could result in deceit of one of the parties (http://www.investopedia.com/terms/g/gharar.asp). In this case‚ the U.S could claim that the reparation cost of breaching the contract could be classified as Gharar as it is specific to Islamic law: Saudi being an Islamic country with applicable jurisdiction‚ the US could claim gharar as the cost of
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went to court to sue the bank for a breach of contract. The breach was as a result of the good faith covenant and fair dealing. Additionally‚ she felt that the mortgage transaction was an example of unfair practice of violations in business under the unfair competition law of the state of California concerning unjust conversion and enrichment. On the basis of the second amended complaint‚ the bank had maintained the activity of procuring costly replacement insurance when mortgagors made a default on
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LAW TUTORIAL QUESTIONS Tutorial 1 1. Explain: (a) international law (b) legal rights (c) legal duty (d) public international law (e) private international law 2. Explain the differences between civil law system and common law system 3. Explain: (a) Convention (exam) (b) Treaties (exam) (c) International Organization (d) State (e) Non-Governmental Organization (NGO) (f) MNE & TNC (g)International Person 4.What governs the relationship in International Trade? Tutorial
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the two main types of subject-matter jurisdiction in federal court. Definition from Nolo’s Plain-English Law Dictionary The power of the federal courts to decide civil disputes between citizens of different states‚ provided the amount the plaintiff seeks in damages exceeds an amount set by Congress (currently $75‚000). The so-called citizens may include companies incorporated or doing business in different states or a citizen of a foreign country. However‚ note that the federal courts traditionally
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Business Law “The doctrine laid down in Salomon v Salomon & Co Ltd [1897] AC 22 has to be watched very carefully. It has often been supposed to cast a veil on the personality of a limited company through which the courts cannot see. But that is not true. The courts can‚ and often do‚ draw aside the veil. They can‚ and often do‚ pull off the mark. They look to see what really lies behind” - Lord Denning in Littlewoods Mail Order Stores v Inland revenue Commissioners [1969] 3 All ER 422.
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