if management thinks it’s warranted.” Profits remain high‚ but no bonus is paid. If the employees sue‚ would a court enforce the promise? The fact that a promise has been made does not mean the promise can or will be enforced. Under the common law‚ a primary basis for the enforcement of promises is consideration. Consideration usually is defined as the value (such as cash) given in return for a promise (in a bilateral contract) or in return for a performance (in a unilateral contract) Something
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Business Discussion You own University Heights Apartments‚ a business that rents primarily to students. One evening‚ your tenant Sharon is attacked by an intruder who forces the lock on the sliding glass door of her ground-floor apartment. Sharon’s screams attract the attention of Darryl‚ your resident manager‚ who comes to Sharon’s aid. Together‚ he and Sharon drive the intruder off‚ but not before they both are badly cut by the intruder. 1. Is the intruder liable for what he has done? a. Yes
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Any Kind Checks Cashed‚ Inc. v. Talcott it was crucial to determine whether holder of the instrument acted in good faith and fair dealing‚ as is required to have status of holder in due course. The definition of “good faith” is found in Commercial Law Article § 3-103(a)(4): “Good faith’ means honesty in fact and the observance of reasonable commercial standards of fair dealing.” The court upheld a trial court finding’s that Any Kind had not acted in good faith in cashing a check for $10‚000 but
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Sale of Goods Ordinance‚ Cap 26 shall apply in this case given the fact that the motorcycle seller sold the second hand motorcycle to Sam as a course of business‚ a legally binding contractual relationship for sale of goods was established although there was no information as to whether Sam bought the motorcycle was for business or private use. Besides‚ the car shall be defined as goods under (s.2(1)) of the aforesaid ordinance. The motorcycle seller was in breach of the implied conditions in
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adequate steps to shut down such activities or investigate the extent of the employee’s violations of company policy. This is a very chilling opinion for employers to digest. Employer Promises re: Privacy 2. One of the most common questions from our business clients is whether their promises regarding email and other workplace privacy issues are legally binding. Not necessarily is the response we give. Usually‚ when an employer states a policy regarding any issue in the workplace‚ including privacy issues
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registered under the law (if any) for the time being in force for the registration of such documents‚ and is made on account of natural love and affection between parties standing in a near relation to each other. In other words‚ an agreement made on account of natural love and affection is binding if the following requirements are present: It is expressed in writing; It is registered (if applicable); and The parties stand in a near relation to each other --- Tan Soh Sim‚ Chan Law Keong & Ors v
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takes longer and cost more because the arbitrator needs time to hear from both parties‚ analyze facts‚ examine evidence and determine a ruling that is legally binding. Usually parties who decide to use the mediation process will continue to conduct business with each other; typically parties who use arbitration
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What is a contract? A contract is an agreement enforceable by law. 2. What is an agreement? An agreement is an arrangement between parties that creates legal obligations between them. Generally an agreement is said to be arrived at when an offer or proposal made by one person is accepted by another‚ with the intention of creating mutual obligations between them. 5. What are the essential features of a contract? Minimum two parties :- Atleast two parties are needed to enter into a contact
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Resolving Ethical Business Challenges Chapter One 1. What are the potential ethical issues faced by Acme Corporation? Acme is essentially bribing buyers to purchase their products. This could backfire on them if the buyers company gets wind of it. The reaction of the company may be to fire their buyer and cut off Acme all together. This of course could be potentially fatal for Acme in two ways‚ one by damaging their infrastructure though lost revenue and two by damaging their corporate
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INTRODUCTION TO BUSINESS LAW The Law of Tort Core Reading: Lucy Jones‚ Introduction to Business Law (Oxford University Press‚ 2011). Chapter 11 on The Tort of Negligence (Refer to pages 340 – 374). Please note that we ARE NOT going through every single areas in relation to negligence. For instance‚ the area on nervous shock. Aims and Objectives: - To enable students to appreciate the general law of tort‚ especially the concept of negligence; To understand how this area applies
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