Contract By definition under Sec 2(h) Contract Act 1950‚ “an agreement enforceable by law is a contract”. A contract is a promise or agreement between two or more parties that is enforced by law to be legally binding. It may involve a duty to do or refrain from doing something‚ and the failure to perform such duty is a breach of contract. The role of law in a contract is not to punish the breaching party but to provide remedies to restore the person wronged to the position they ought to occupy if
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can Western countries do to help improve the political climate for doing business in Vietnam? Give examples. a. By continuing and growing their exports‚ this can help to improve business in Vietnam. After the Vietnam war Vietnam became communist in 1975. Even though a lot has changed
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Business Law Business Law: Unit�1 Review: 1.A law that restricts a fundamental right violates substantive due process unless it promotes a compelling or overriding state interest. TRUE 2. Owen claims that a Pennsylvania state statue infringes on his "substantive due process" rights. This claim focuses on: the content of the statute 3. A Rhode Island state statute imposes a prison term‚ without a trail‚ on all street vendors who operate in certain areas. A Court would likely hold this statute
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here‚ Porsche shorted huge amounts of Volkswagen shares by borrowing from the existing owners. Then‚ Porsche started to sell it to earn the money and buy back the shares when the price dropped. It results Porsche earned a large amount of profit by short selling the shares. As Porsche acquired a large amount of Volkswagen shares‚ Porsche became the Volkswagen’s largest shareholder. The Economist. (2008).How Porsche fleeced hedge funds and roiled the world’s financial markets. Retrieved from http://www
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The Current “Age of Accountability” Law in Light of Developmental Psychology Current Law Upheld Case Study Cassondra Winfrey May 24‚ 2011 In the case study provided‚ one can see many areas where the development of the child in question can be taken into consideration when looking at the case from a law standpoint. In any case involving children‚ one must always take into account their environment‚ their developmental age‚ and their true age. With each age group‚ there is a norm for development
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Luis Armendia October 3‚ 2004 BUSINESS LAW UNIT ONE AND TWO QUESTIONS 1-4. Which source of law takes priority in the following situations‚ and why? a) A federal statute conflicts with the U.S. Constitution. A. CONSTITUTONAL LAW. Article VI‚ the Constitution is the supreme law; a law in violation of the Constitution will be declared unconstitutional and won’t be enforced. b) A federal statute conflicts with a state constitutional provision. A. STATUTORY LAW. A federal statute applies to all
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Question 1 | | 1 / 1 point | Law is a body of enforceable rules governing relationships among individuals and between individuals and their society. | True | | False | View Feedback | | Correct. | Question 2 | | 1 / 1 point | The doctrine ofstare decisis obligates judges to follow precedents established within their jurisdictions. | True | | False | View Feedback | | Correct. | Question 3 | | 1 / 1 point | Common law develops from rules of law announced in court decisions
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Illinois Gun Laws Common Questions & Answers Illinois Gun Statutes George H. Ryan Governor Sam W. Nolen Director Illinois State Police Brent Manning Director Department of Natural Resources Unless specifically exempted by statute‚ any Illinois resident who acquires or possesses firearms or firearm ammunition within the state must have in their possession a currently valid Firearm Owner’s Identification (FOID) card issued in his or her name. Commonly Asked Questions on Transporting
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Importance of Business Law 1. To define Basic Setup of a business. Business law defines different types of business for setup‚ such as - Partnership‚ Proprietorship‚ Corporation (Private and Public)‚ etc. Such definitions of types of business help clarify ownership of the business entities. 2. To define Regulations for Business Operations. There needs to be certain rules and regulations to carry on various timely operations in any business regardless of the type of business. For industries
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Role and Function of Law Law/ 421 January 11‚ 2013 Professor Gary Matano The law plays an important role in business and society. The law imposes rules and regulation that carry out the moral standards of business and society. The laws help maintain the policies and ethical conduct of individuals‚ groups‚ and corporations run smoothly. In business law can build goodwill between merchants and consumers. This should be considered in commercial
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