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Formalities in Business Law - Comparative View

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Formalities in Business Law - Comparative View
Business Law SS 2013

Cermeno Nathaly, Dinye Syafitri Hernanda

Formalities in Contract Law – Comparative view OVERVIEW: 1. GENERAL DEFINITION OF A CONTRACT 2. FORMALITIES IN THE GERMAN CONTRACT LAW

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WRITTEN FORM

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NOTARIAL RECORDING

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OFFICIAL CERTIFICATION

3. FORMALITIES IN CONTRACT LAW OF OTHER COUNTRIES

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USA CASE BRIEF : BUFFALOE v. HART

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AUSTRALIA

1. GENERAL DEFINITION OF A CONTRACT

A contract is an agreement having a lawful object entered into voluntarily by two or more parties, each of whom intends to create one or more legal obligations between them. The elements of a contract are "offer" and "acceptance" by "competent persons" having legal capacity who exchange "consideration" to create "mutuality of obligation."

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Business Law SS 2013

Cermeno Nathaly, Dinye Syafitri Hernanda

Proof of some or all of these elements may be done in writing, though contracts may be made entirely orally or by conduct. The remedy for breach of contract can be "damages" in the form of compensation of money or specific performance enforced through an injunction1. Both of these remedies award the party at loss the "benefit of the bargain" or expectation damages, which are
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