1 Task – 1 1.1 Importance of Essential Elements of Contract Contract represents the instrument to enforce promises. Not all statements amount to enforceable promises or contracts. To enforce statements there are a number of elements which courts look for and these mainly include the presence of offer‚ its communication‚ its unconditional acceptance and communication of the acceptance. Once this has taken place then the element of consideration gives the badge of enforceability to the contract and
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ASPECTS OF CONTRACT AND NEGLIGENCE OF BUSINESS Task: 1.1: Explain the importance of the essential elements required for the information of a valid contract? Offer A valid offer identifies the bargained-for exchange between the parties and creates a power of acceptance in the party to whom the offer is made. The communication by one party known as the offeror to the another party called the offeree b) Acceptance To constitute a contract‚ there must be an acceptance of the offer
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Chapter 3- Sections 1-4 I. The Indo – Europeans A. Indo-Europeans Migrate 1. The Indo-Europeans were a group of nomadic people who came from the steppes – dry grasslands that stretched north of the Caucasus 2. They herded sheep‚ cattle and goats and tamed horses 3. The modern languages of Europe‚ Southwest Asia‚ South Asia; English Spanish‚ Persian and Hindi all trace their origins back to different forms of the original Indo-European language 4. The Indo-Europeans began to migrate outward
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According to section 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
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Income-tax Act‚ 1961 | No. | Title | Section - 001 | Short title‚ extent and commencement | | Section - 002 Part A | Definitions [Clause (1) to Clause (15)] - "Advance Tax" to "Charitable Purpose" | | Section - 002 Part B | Definitions [Clause (15A) to Clause (30)] - "Chief Commissioner" to "Non-resident" | | Section - 002 Part C | Definitions [Clause (31) to Clause (48)] - "Person" to "Zero Coupon Bond" | | Section - 003 | Previous year defined | | Section - 004 |
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Week 1 – Welcome / Introduction to Law I. 1. 2. 3. 4. Introduction to Law Not Not Not Not Divine Law‚ law of religion and faith Natural Law‚ justice‚ fairness and righteousness Moral Law‚ norms of good and right conduct Physical Law‚ order or regularity in nature Sources of Law i) i) Constitution – Fundamental Law of the land ii) ii) Legislations – Passed by Senate and House of Representatives iii) iii) Administrative issuances – Quasi Legislative Functions iv) iv) Jurisprudence – Decisions of the
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of the contract Termination of the contract Under common law‚ a contract of employment may be terminated by: (a) Agreement with notice; (b) Death of the employer or employee; (c) Frustration; (d) Insolvency; or (e) Breach. Termination by agreement with notice The ending of a contract of employment is most often achieved without any breach of its terms. A contract can be terminated at common law by either party giving the notice required by the terms of the contract‚ or by
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Organizational Behavior J. Organiz. Behav. 24‚ 537–559 (2003) Published online in Wiley InterScience (www.interscience.wiley.com). DOI: 10.1002/job.205 Psychological contract development during organizational socialization: adaptation to reality and the role of reciprocity ´ ANS DE VOS1*‚ DIRK BUYENS2 AND RENE SCHALK3 1 Vlerick Leuven Gent Management School‚ Gent‚ Belgium Vlerick Leuven Gent Management School and Ghent University‚ Faculty of Economics and Business Administration‚ Gent
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CONTRACTS IN BUSINESS On the 10th of September an offer was distinguished between Huddersford Electronics Ltd (HE ltd) and Gem Computer Stores (GCS). The offer was an invitation to treat as there is an entitlement that an offer could accepted and therefore‚ a contract could be formed. An offer is formed as HE ltd posted an offer to sell 10 laptops to GCS‚ keeping the offer open until the 24th September. A statement is made by HE ltd who is giving information to GCS expressing an intention to sell
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LAW OF CONTRACT NOTES INTRODUCTION. A contract is an agreement between two parties which is enforceable by law.An agreement is made when a person signifies his willingness to do or to abstain from doing anything with a view of obtaining the assent of the other party. Such act or abstinence is said to make a proposal.The person making the proposal is called the offeror and the person accepting the proposal is called the offeree TYPES OF CONTRACTS: Contracts may be classified into: -Written
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