Essentials of Consideration Presence of consideration is one of the requisites of Valid Contract. Consideration must be of two directional nature. That means both parties should get benefited mutually. Then only the Contract becomes capable of creating legal relations. Consideration may be in the form of cash‚ goods‚ act or Abstinence. Definition of Consideration “When at the desire of the promissor‚ the promisee or any other person has done or abstained from doing or does or abstains from
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INTRODUCTION Indian Contract Act 1872 is the main source of law regulating contracts in Indian law‚ as subsequently amended. It determines the circumstances in which promise made by the parties to a contract shall be legally binding on them. All of us enter into a number of contracts everyday knowingly or unknowingly. Each contract creates some right and duties upon the contracting parties. Indian contract deals with the enforcement of these rights and duties upon the parties. The Indian Contract Act 1872
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Introduction: The question of whether contract law can absorb technological change without the need for distinctive guidelines‚ presuppositions or similar rules is highly dependent on the effects of the amendments to the Electronic Transactions Act 2000 (NSW) (“ETA”). The impact of the ETA on traditional common law principles varies depending on the level of certainty and predictability available in the circumstances and how the law applies. The suitable amount of consistency is likely to vary
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Contract Law Name BUS 311 Business Law I Professor Date The law of contracts has been a part of our culture for a long time. Contracts are an agreement‚ either written or spoken‚ with a company or person to do something that is agreed upon with binding terms. Contracts are the glue that keeps the world of business together. They bind employees and companies‚ consumers and producers‚ and suppliers and wholesalers. A contract can vary from country to region or even jurisdiction‚ but a
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Compass Contracts Group (CCG) was founded in 2001 as a woman-owned government services business. In 2003‚ the company grew rapidly from six to well over 350 full-time employees after winning a 5-Year multi-million dollar Department of Defense contract. During the second Gulf War‚ the Secretary of Defense determined that outsourcing stateside administrative functions to contractors who replaced active duty military personnel deployed to combat zones in the Middle East was a good idea. According
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Business Elements of Pepsi & Coca-Cola Introduction The following is a comparison and contrast of the business elements based on a number of business elements like management and operations and on environmental aspects using SWOT and PEST. The two organizations chosen are Pepsi and Coca-Cola. Coca-Cola is a worldwide corporation that manufactures many different beverages. They also manufacture‚ distribute‚ and sell concentrates and syrups that are based in
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Essential of Planning Name : Zammy Haryo Kusuma Class : EB Management 2012 NIM : 126122400383 Planning is a complex and comprehensive process involving a series of overlapping and interrelated elements or stages‚ including strategic‚ tactical‚ and operational planning. Strategic planning establishes master plans that shape the destiny of the firm. One of four managerial functions is planning it involves setting goals and figuring out ways of reaching goal‚ in planning a manager look
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syllogism is valid or not‚ if the premises are true‚ than the conclusion must be true. Accordingly‚ this means that when the major premise(including the predicate) and the minor premise(including the subject) are true‚ the conclusion(including both the subject and the premise) must in fact be true. Furthermore‚ out of the two hundred fifty six logically distinct syllogisms‚ only twenty four are valid types. Additionally‚ a way for the audience to tell whether or not a syllogism is valid is if there
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SALES CONTRACT No.57/2014 Ho Chi Minh City‚ May 19th‚ 2014 The Seller: Dalat Agriculture and Forestry JSC‚ Vietnam Address: 39 Phu Dong Thien Vuong Street‚ Ward 8‚ Da Lat City‚ Lam Dong‚ Vietnam Telephone: +84-63-656565 Fax: +84-63-665442 Email: info@dalatgap.com Represented by: Mr. Tran Thanh Sang Position: Director The Buyer: Shoei Foods Corporation Address: Shoei Bldg‚ 5-7‚ Akihabara‚ Taito-ku‚Tokyo‚ Japan Telephone: +81-33-2342345 Fax: +81-33-2672634 Email: shoeifoods@Shoeifoods
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What is a contract? A business contract is a legally binding agreement between two or more parties to do or not to do certain things. For example‚ a business contract could be for the sale of goods or supply of services at a certain price. There are many different types of contracts including: the sale and purchase of a business agreement; partnership agreements; leases of business premises; leases of plant and equipment; and employment agreements. The process for creating a contract generally
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