A contract -is a legal agreement that occurs between two or more parties. It can be a written or spoken agreement that can concern employment‚ sales‚ or tenancy. Parties or members involved‚ enter voluntarily into this agreement. Every contracts involve two persons they are the: Offeror and Offeree. The offeror is the one who offers to enter into a contract and the Offeree is the one to whom the contract is being offered Elements of a contract: Agreement‚ Lawful object‚ consideration and contractual
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Business Law and Ethics Assignment 14/03/2013 Module : 26313 Module leader : Phil Robinson Words count : 1088 In order to advise Neil‚ it is necessary to consider the law of the contracts‚ especially about offer and acceptance. We will analyze the situation to see what laws are applicable and advise Neil. In this case‚ we have three different people: Firstly an offeror‚ a person who makes an offer (in this case‚ Neil) and two offerees‚ the person to whom an offer is made (in this case
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General Provisions “An obligation is a juridical necessity to give‚ to do or not to do.” (Art. 1156) * OBLIGATION * obligatio‚ Latin‚ means tying or binding * tie or bond recognized by law by virtue of which one is bound in favor of another to render something * duty under the law of the debtor or obligor - Civil Code * Juridical Necessity * the rights and duties arising from obligation are legally demandable and the courts of justice may be called upon through
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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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1.0 Contracts and its Elements 1.1 Essentials of a Contract Contracts form part of our daily life e.g. lease of house‚ sale/purchase of cars‚ etc. However‚ there are elements essential to form a contract. These are: 1.1.1 Offer/Invitation MacMillan & Stone (2004) described offer as “an expression of willingness to contract on certain terms. It must be made with the intention that it will become binding upon acceptance. There must be no further negotiations or discussions required.” This can be
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AGENCY RELATIONSHIP An agency is a relationship which exists when one party called the principle appoints and authorizes another called the agent to enter into a contract with a third party ‚ which contract is legally binding to both parties. An agent is therefore a party who is authorized to represent or act on behalf of another for the purpose of bringing that other party into legal relations with a third party. A Principal is a party who authorizes another party to represent or act on his
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4. Juan knows that he should compare Quickfix’s condition with an appropriate benchmark. How should he go about obtaining the necessary comparison data? Based on Quickfix’s industry classification code‚ Juan should collect industry averages of the key financial ratios. Some useful sources for industry ratios include: Value Line‚ Moody’s‚ Standard & Poor‚ and Dun & Bradstreet. In addition to the industry average‚ the industry leaders (within the size category) ratios could also be collected
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Reading the opinions is always a enjoyable encounter by learning the quotes; one can get exclusive technique. You can quickly encounter any personal that is learning the reports for quite a while and having a comprehensive perspective. Whether they are learning the weight loss quotes or any other group they always have a comprehensive viewpoint towards things. This is due to the opinions make the comprehensive perspective. There are a lot of well-known individualities who are linked with learning
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exploit the limestone quarry in Mont Saint-Victor between Le Teil and Viviers. The limestone is white and argillaceous‚ and yielded an eminently hydraulic lime. Villeneuve-lès-Maguelone‚ Hérault 05.jpg In 1864 Lafarge signed its first international contract for the delivery of 110‚000 tonnes of lime to the Suez Canal construction project.[2] In 1980 Lafarge joined with the Belgian coal‚ coke and fertilizer company Coppée to become SA Lafarge Coppée. Lafarge purchased a plant from the National Gypsum
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QUESTION: Explain what agency of necessity is and how it may arise. AUTHOR: KATALILO JOY INTRODUCTION This paper will explain what agency of necessity is and how this agency arises. Agency is the work done by an agent. An agent is a person that has a contractual obligation with a principal to bind the principal to a third party without the agent being party to the contract. The contract then becomes one between the principal and the third party. In lay terms‚ imagine parties A‚ B and
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