FORMATION OF AGENCY QUESTION 2 Introduction Agency define which subsists between principal and an agent‚ where the agent has been authorized to act for the principal or represent him in dealing with others or 3rd party. Agent is person who is employed by the principal to do certain act for him to represent him in dealings with 3rd party. Principal is a person who authorizes the agent to act on behalf of him. There are five formation of agency‚ which is by express appointment‚ by implied appointment
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a) Factors leading to the formation of Malaysia in 1963 1. Only Malaya was an independent nation while Singapore‚ Brunei‚ Sabah and Sarawak were still under British control. These territories were considered too small to be independent entities. It was felt that a merger with Malaya would bring early independence to these territories. 2. The British were agreeable to a merger of these territories and granting independence as there were many similarities between Malaya‚ Singapore‚ Sabah‚
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Contract Classification | Basis of Defect | Status of Contract | Legal Effects | Prescriptive Period | Ratifiability | A.Rescissible1. Contracts entered into in behalf of wards 2. Contracts agreed upon in representation of absentees 3. Contracts undertaken in fraud of creditors a. existing credit prior to the contract to be rescinded b. fraud on the part of the debtor c. creditor cannot recover his credit in any other manner 4. Contracts which refer to things under litigation
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Employment Agreement (Sample) THIS AGREEMENT made as of the ______day of__________________‚ 20__ ‚ between [name of employer] a corporation incorporated under the laws of the Province of Ontario‚ and having its principal place of business at _______________________(the "Employer"); and [name of employee]‚ of the City of ____________________in the Province of Ontario (the "Employee"). WHEREAS the Employer desires to obtain the benefit of the services of the Employee‚ and the Employee desires to render
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over eighteen and are of sound mind and in the each scenario they intend to enter a legally binding contract. For a contract to come into existence there have to be three steps involved: • Agreement (Offer and Acceptance) • Consideration • Intention to create legal relations All three scenarios are supported by “consideration”. The general idea of consideration is that contracts involve an exchange in which both parties give something in exchange for the promise of the other
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Basic Books‚ 1999) * "Derivational morphology studies the principles governing the construction of new words‚ without reference to the specific grammatical role a word might play in a sentence. In the formation of drinkable from drink‚ or disinfect from infect‚ for example‚ we see the formation of new words‚ each with its own grammatical properties." (David Crystal‚ How Language Works. Overlook Press‚ 2005) * "Derivational prefixes do not normally alter the word class of the base word; that
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constitutional principles that are not collected in a document such as the laws passed by parliament and court decisions. Malaysia possesses a written legal document that has been developed based on the two previous documents‚ namely the Federation of Malaya Agreement 1948 and the 1957 Independence Constitution. Constitution of Malaysia‚ known as the Federal Constitution contains 183 items‚ is the supreme law in Malaysia. Constitution of Malaysia also consists of 15 sections and 13 tables. Malaysian constitution
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CONTRACT AND RELATED OBLIGATION Prof. Hillman I) Theories of Obligation A) CONTRACT: Agreement with Consideration – Bargain Theory of Consideration Definition: A promise that is supported by consideration because the promisor gets something (extracts) from the promissee in exchange for the promise. Ex: I tell Alice I will sell her my piano for 400 dollars and she agrees. I promised my piano in exchange for something (400 dollars) therefore my promise is enforceable. 1) Bargained
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CONTRACT OF LAW Contract can be defined as ‘an agreement enforceable by law’. In other words‚ a contract is an agreement made between two(2) parties or more which is legally binding between the parties. There are six (6) basic elements in the contract : 1. Offer refers to a proposal that is capable of being converted into an agreement by its acceptance. Section 2(a) of Contract Act 1950 provides that when a person signifies another his willingness to do or to abstain from doing anything‚ with
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Contracts Summary DAMAGES – REMEDIES FOR BREACH OF CONTRACT THE INTERESTS PROTECTED Fuller and Perdue‚ “The Reliance Interest in Contract Damages” There are three principle purposes in awarding contract damages: restitution interest – object is the prevention of unjust enrichment by the defaulting promisor at the expense of the promisee reliance interest – object is to put the plaintiff in a good position as he was before the promise was made expectation interest – object is to put the
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