CONSIDERATION A. Legal Sufficiency 1. Adequacy 2. Unilateral Contracts 3. Bilateral Contracts 4. Illusory Promises a. Output and Requirement Contracts b. Exclusive Dealing Contracts c. Conditional Promises 5. Pre-existing Obligation a. Modification of a Pre-existing Contract b. Substituted Contracts c. Settlement of a Undisputed Debt d. Settlement of an Disputed Debt B. Bargained-For-Exchange 1. Past Consideration 2. Third Parties C. Contracts without Consideration 1. Promises to Perform Prior Unenforceable
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Contract Law Notes Contracts ‘A’ Offer Bilateral contracts Unilateral contracts Offers to the public at large What is an offer? Mere puff Supply of information Invitation to treat Categorizing transactions Advertisements a) Advertisements in a catalogue or a curricular b) Advertisements in newspapers or magazines c) Advertisements appearing on the internet d) Display of goods Auctions a) Advertisement of auction b) Auctions with reserves c) Auctions without a reserve Tendering
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Lecture 8 Law of Contract: Genuine Consent INTRODUCTION Although the contract may have the essentials of a valid offer‚ acceptance‚ legal intentions and consideration‚ its validity or enforceability may be affected by a number of factors. The agreement may be wanting in genuine consent between the parties. That is‚ although the parties may appear to have reached an agreement‚ it may not have been genuinely achieved because of misconduct‚ pressure‚ unfairness‚ or fear by those involved
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Question 1. Outline and describe the ways in which an Agency Contract may be established. Agency According to Nicole Busby‚ an agency is a contractual relationships that entitles one party to act on behalf‚ or in favour of‚ the other party in contractual arrangements with a third party. In this regardthese circumstances‚ the former is known as an “agent” and the entity on whose behalf the agent performs is called a “principal”. Generally‚ the agency relationships arises in commercial transactions
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void contract under Nepalese contract act by illustrating the cases. According to Nepalese Contract act 2056‚” A contract is an agreement between two or more persons to do or not to do something‚ which can be enforceable by law.” The supreme court of Nepal has defined the contract as “an agreement of two or more parties with conditions.” The word void means not binding in law. A contract which cannot be forced by both of the contracting parties is called a void contract. If a contract which
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V and P entered a standard form contract for sale of property in SYD‚ with special condition that the “sale is subject to P completing the sale of his existing home in Brisbane by 1 June 2009” but no time for completion is specified and clause 29 of 2005 Standard Form is deleted. (Standard Form: completed with in 42 days of existing contract/ exchange of contract? Hence the qtn scenario means it’ll be deleted.) Is there a binding contract for SYD before this BNE condition is fulfilled? (Can
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through college one must prepare extensively beforehand. I learned this concept after my parents told tales about what they wished they had done during high school to prepare for college. In order to lay the groundwork for my future education‚ I enrolled in advanced dual credit courses‚ took many significant tests‚ researched college campuses that I was interested in‚ and also filled out numerous applications. Together‚ the aforementioned steps set me up for an easy acceptance when the time arrived
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to rid sadness? The Giver and Louis Lowery’s Newberry acceptance speech‚shows us that throughout life there can not be ups without downs. A utopia could never be created in today’s world because you can’t just sweep all of the world’s problems under the rug and continue to enjoy all the privileges and positives we have. In the beginning of The Giver‚ Louis focuses in on a community where sameness is key and being unique is frowned upon. This community is enclosed and safe‚ but there is no sense
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an offer at all: a. John places an advertisement in the newspaper: “Anyone who finds my dog ‘Fluffy’ and returns him to me will receive a reward of $10‚000”. b. Goodies Store Limited has a display of toys in its shop window with the caption: “This is the best offer since 2002! Each toy costs only $10.00”. c. Jane and Mary are discussing the sale of Mary’s car. Mary is eager and agrees to sell the car to Jane who is to pay $1‚000‚000. d. John: I need a bicycle Peter: I have a blue one
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Business Advisory Service Legal responsibilities for business owners Advise for new business owners about: * Legal status and risk involved * Contract Law * Consumer legislation Legal Status When starting up a business‚ one should decide which legal status to choose. Each legal status has its own different responsibilities and there are some risks involved. There are three types of legal status: sole trader‚ partnership and limited companies (Ltd & Plc). * Sole
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