AGENCY 1. Agency Relationship Cases Definition Principal authorizes Agent to enter into legal transactions (contract) with Third Party on Principal’s behalf Agency relationship between P and A A’s obligations to P: 1. Act according to terms of appointment and within scope of authority 2. Not liable to P or TP 3. Carries out duties with care and skill‚ keep true and proper accounts 4. Cannot conflict P’s interest / act for personal gains 5. Cannot delegate whole duty to others P’s
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L.S. 4523 / 5523 Handout 9 Spring‚ 2013 1. What is a material breach of contract? There are three types of material breach. Anticipatory repudiation: A repudiation of contract obligations before they become due. Must be unequivocal (clear statements of a parties refusal to preform when performance is due.) No assurance (demanded writing exceeds 30 days) = repudiation. 1.) Waffling Seller: A seller who equivocates when asked if he’s going to deliver the goods as promised. 2.) Cash
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PART A Sita is able to claim personal injury damages under an action in tort for negligence. The principle of these damages is restituo in inegrum‚ which is based on the principle restoring the plaintiff to the position they were in before the tort took place (Sharman)1. These damages are presented on a once and for all basis as a lump sum with the date of assessment being that of the date of trial. 1. Economic Loss Economic loss is under Divison 2 of the Civil Liability Act2 (CLA). Under
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Seminar 9 – Remedies for Breach of Contract Reading: George Shenoy and Loo Wee Ling (eds)‚ Principles of Singapore Business Law (“PSBL”)‚ (Cengage 2013)‚ Chapter 18. We will concentrate in class mainly on Damages. Note that PSBL chapter 18 addresses the topics in a different order from this Outline; we will in general follow the order of the Outline Note: References below to Poole are to Jill Poole‚ Casebook on Contract Law (10th ed‚ 2010)‚ which is available at Course Reserve in the
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ON THE REGISTER It amounts to a promise that ship at time of making of the charter is so classed. It has no future assurance that the owner will continue to act to retain the class . The loss of the class may be due to unseaworthiness or some other breach of ship-owners obligations. Routh v. Macmillan In the case the merchant at New York chartered a ship ‘Hannah Eastee’ classed A1 ship at Lloyd’s for carrying a load of wheat to England. But due to bad management she runs off from A1 power. The cargo
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Topic 4 – Contract Non-legal implications of a breach of contract would include: potential loss of creditability in the marketplace and loss of new/return business for the party who breached the contract. Eg‚ a company selling goods and services‚ a damaged reputation could result in the loss of new and existing customer contracts. Eg. a breach of a loan contract‚ the potential loss of credit rating affecting future credit potential and business opportunities. flow on effects of consequent
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Contract Creation and Management Simulation Student Name LAW531 April 30‚ 2013 Teacher Name The Contract Span Systems is a banking software company who currently is under contract for the installation of new software for a large German bank called Citizen- Schwarz AG. Currently Citizen Schwarz is not pleased with Span Systems’ progress and has asserted they want to rescind the contract amongst them. Citizen Schwarz feels that Span Systems failed to meet their dead lines‚ did not report
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CONTRACT – REMEDIES (Pg 183) Damages |Damages is the principal common law remedy for a breach of contract. It refers to the monetary compensation payable by the defaulting party. | |Assessment |Aim of unliquidated damages | | |The general principle of assessment is that the injured party is to be placed in the same financial position he
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TABL1710 Contract law Contract- AGREEMENT concerning PROMISES between 2 or more parties LEGAL RIGHTS & OBLIGATIONS Elements for legally binding contract: Intention- must have evidence to INTEND to make legal contract ‘Subject to contract’ NOT in final form MASTERS V CAMERON (no contract until conditions met) Implied intention: Social (friends)‚ family‚ domestic‚ voluntary NO INTENTION BALFOUR V BALFOUR (husband & wife- no agreement) COHEN V COHEN WAKELING V RIPLEY (seriousness- big sacrifice)
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never had a valid written contract. In the scenario‚ the parties negotiated for a period of 90 days and 3 days before the deadline set in the original negotiation contract they reached a verbal distribution agreement. In the original negotiation contract‚ it states that there would be no distribution contract unless it was in writing. When the BTT manager sent the e-mail to Chou‚ he mentioned the terms of a distribution agreement‚ but it does not make the email a contract due to the fact that neither
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