person‚ even though the offeror’s actual meaning was otherwise. * Definition: indication by one person to another of his or her willingness to enter into a contract with that person on certain terms. The ‘offer’ must indicate a willingness by the offeror to be bound without further negotiation as to the terms of the proposed contract. * Offer creates in the offeree a power to create a contract by their unilateral action. * Whether a statement is an offer depends on whether the person to whom
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Contract between MAANO TECHNICAL SERVICES CC (Builder) Represented by Mr. Herman Lukas And Mr. Joao de Sousa Satata (Client) Represented by Mr. Zenildo Calueto For THE CONSTRUCTION OF AN OUTBUILDING AT ERF 1387‚ MOUNTAIN THORN STREET‚ DORADO PARK‚ WINDHOEK – NAMIBIA. CONTRACT BETWWEN THE OWNER AND THE BUILDER CONTENTS SECTION 1. Articles of Agreement. SECTION 2. General Information. SECTION 3. Standard Conditions of Contract. Section 1 ARTICLES OF AGREEMENT ARTICLES OF
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CONSTRUCTION CONTRACTS IAS 11 – DEFINATION IAS 11 defines a construction contract as: a contract specifically negotiated for the construction of an asset or a combination of assets that are closely interrelated or interdependent in terms of their design‚ technology‚ and function for their ultimate purpose or use. IAS 11 – TREATMENT Where possible‚ IAS 11 applies the accruals concept to the revenue earned on a construction contract. If the outcome of a project can be reasonably foreseen‚ then
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081-AC1221-60 Company Law ASSIGNMENT ONE The case concerns the pre-incorporation contracts. Firstly‚ it is necessary to define the pre-incorporation contracts. They are the contacts which the promoter wants to enter the contract before a company is incorporated. Under Common law position‚ the company cannot gain contractual rights or incurs liabilities from a pre-incorporation contract. Also; the pre-incorporation contracts cannot bind the company. In this case‚ Bosco is the promoter who
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Law Seen exam question Under the Sale of Goods Act (1979)‚ there are strict rules that a seller/ retailer must abide by once they have entered into a contract. The goods must be as described (section 13)‚ of satisfactory quality (section 14 [2]) and fit for purpose (section 14 [3]). Both section 13 and 14 have strict liability attached to them. The court will not investigate into the mind of the seller at the time or observe how much they tried but all they will look for is if there is a breach
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Class Contract Please answer the following questions by referring to your Syllabus. Submit your answers in a Word or PDF document and upload your answers in D2L in the Class Contract Assignment . 1. What is the official title of this course? Who is your instructor? Legal and Ethical Environment of Business Cristen Dutcher‚ J.D.‚ 2. Is this an online course‚ or a face to face course? The course is online and face-to-face 3. Weekly assignments are mandatory. YES or NO
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BREACH OF CONTRACT 1. 2. 3. 4. 5. Default of the debtor (Mora Debitoris) Default of the creditor (Mora Creditoris) Positive malperformance Repudiation Prevention of performance (rendering performance impossible) Default of the debtor (Mora Debitoris) Any obligation under a contract has a time limit for its performance‚ be it an agreed fixed period or in the absence thereof a reasonable period. If the debtor neglects or fails to perform timeously‚ he/she commits breach of contract. Lawyers then
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2013 RE: Consultation regarding contract Validity FACTS 1. On May 1‚ Doe signed and sent Stein the following letter: I will accept a position as vice-president in charge of research for a period of four years at a salary of $500‚000 per year. 2. On May 3‚ Stein received Doe’s letter and called Doe and stated: “Your salary request is too high. Will you reduce it to $300‚000? 3. On May 3‚ in the phone conversation‚ Doe replied: “Your response is insulting! I am far too
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Introduction to Legal Studies and Basic Contract Law- Course Work Assignment Mrs Hyndley is the owner of two properties that she rents to students in the Belfast area. In January 2008 she asks her friend and next door neighbour Frederick‚ a local estate agent‚ to collect the rents from her tenants while she goes off on a 6 month round the world cruise. She does not discuss terms or payment with Frederick. However‚ Frederick agrees and does collect the rents. When Mrs Hyndley returns to Belfast
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enter into a short futures contract to sell July silver for $17.20 per ounce. The size of the contract is 5‚000 ounces. The initial margin is $4‚000‚ and the maintenance margin is $3‚000. What change in the futures price will lead to a margin call? What happens if you do not meet the margin call? Problem 5.2. What is the difference between the forward price and the value of a forward contract? Problem 5.3. Suppose that you enter into a six-month forward contract on a non-dividend-paying stock
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