BUSINESS LAW ASSIGNMENT ------------------------------------------------- “To create a binding agreement the acceptance must occur‚ and that ‘acceptance’ must be final and absolutely unconditional. This is clear under Australian contract law.” ------------------------------------------------- ------------------------------------------------- Discuss the accuracy of this statement. In order to discuss the accuracy of this statement we must first understand the concept of ‘acceptance’.
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of a Contract Angelique Gares BUS670 Legal Environment Professor Roger Amos May 24‚ 2010 . This paper is a study of the Element of a Contract detailing the essential elements that constitute a legal binding agreement. A contract can be defined as an agreement between two or more persons for example‚ individuals‚ organizations or government agencies and or business‚ to do‚ or to refrain from doing something in exchange for something of value. The text states “to qualify as a contract‚ a set
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To what extent does a currency forward contract need to play a formal role in multinational companies? A globalisation has risen over the last 20 years. Because of this factor‚ international markets have increased rapidly‚ therefore a large number of companies have been particularly interested in global operatings‚ such as‚ export trade‚ import trade‚ overseas sales (Moosa‚ 2003). A subsequent significant trouble looming large for
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forward and futures contracts are traded on exchanges. b) Forward contracts are traded on exchanges‚ but futures contracts are not. c) Futures contracts are traded on exchanges‚ but forward contracts are not. d) Neither futures contracts nor forward contracts are traded on exchanges. 2. Which of the following is not true (circle one) a) Futures contracts nearly always last longer than forward contracts b) Futures contracts are standardized; forward
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ESSEX INTERNATIONAL COLLEGE Programme: Unit Number: Unit Title: Unit Code: Credit Value: QCF Level: BTEC Higher National Diploma (HND) in Business 05 Aspects of Contract and Negligence for Business Y/601/0563 15 4 Writer of the brief: Internal Verifier name: Mr Alfred Dr. Keith Learning outcomes and criteria covered by this assignment: All pass criteria All merit descriptors All distinction descriptors Key dates: Assignment distribution date to learners: Assignment/Portfolio
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Business Scenarios and Case Problems 9-1. Contracts by Minors…Discuss Kalen’s liability in this situation. Kalen is a seventeen year old boy who rented an apartment for $500 a month‚ after consistently paying for rent for 4 months‚ he decides to return the key and not pay rent for the rest of the remaining months on the contract. I would think that this is classified as “disaffirmance”. Since he is seventeen‚ and a minor when he leaves the apartment‚ he is able to legally avoid his contractual obligation
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Chapter 1 INTRODUCTION Objectives of Report * To get an idea about the law structure of Sri Lanka * To study about contract law * To get an idea about the low governing offerer and acceptance in Sri Lankan Law. Methodology * Library and Internet research Colonial History and the Law Sri Lanka‚ formally known as Ceylon‚ is a multi-ethnic and multi-religion island nation in the Indian Ocean‚ near the southern coast of India. The ethnic and religious diversity of the nation‚ and
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Universiteit van Amsterdam Faculteit der Rechtsgeleerdheid Anglo-American Contract and Tort law Interpretation of contracts ‘’ To what extend does the interpretation of Dutch contracts differ from English contracts. ’’ Naam: A.N.Y. van der Looij Studentnummer: 5610303 Begeleider: Professor H. Beale Amsterdam‚ 14th of June 2013 Table of contents Chapter 1 Preface 3 1.1 Neccessity of interpretation 3 1.2 ‘’Objective’’ and ‘’Subjective’’ interpretation 3
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discuss. In Contracts‚ What is "Consideration"? In order for any contract to be enforceable‚ courts generally require three things: mutual assent (agreement to the contract terms)‚ a valid offer and acceptance‚ and consideration. Consideration in law is one of the three main building blocks of a contract. It can be anything of value‚ which each party to a legally binding contract must agree to exchange if the contract is to be valid. If only one party offers consideration in contract‚ the agreement
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Definition Bilateral Contract A bilateral contract is a legal agreement formed between two parties where both parties involved give mutual promises that they both are legally obligated to perform an act in exchange for the other party’s act in future. It means the promise of one party is consideration supporting the promise of the other party. Each party is both promisor and promisee. A bilateral contract specifies a duty to act in exchange for another party’s duty to act. It is also called "reciprocal"
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