International Business Law Chapter 4 Study Guide (Group 8) Under frustration of purpose clause‚ a contract may be excused if the reason for entering the contract has been changed or has been invaluable. If the valuable part of the contract‚ for example a well known concert singer‚ has become ill‚ the contract may be excused due to the illness of the valuable part‚ the singer‚ of completing the contract. Valid Contract: an agreement that contains all of the essential elements and meets all
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Credible Information Debate MGT/521 September 6‚ 2012 Meredith Willenbring Credible Information Debate Wikipedia is one of the most sought out information website. Jimmy Wales‚ founder says this about his website‚ “Wikipedia is something special…‚ it is a place we can all go to think‚ to learn and share our knowledge with others” (Wikipedia‚ 2012‚ p1). This resourceful tool has up-to-date news‚ press releases‚ and it provides its users with the convenience to various languages
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Cuong Khong Bill Tennyson/ Business Law January 24‚ 2013 BRIEFING CASES… COMMONWEALTH v. BERGGREN 398 Mass. 338 (1986) Supreme Judicial Court of Massachusetts‚ Barnstable. May 6‚ 1986. August 26‚ 1986. ============================================================================ FACTS: On March 29‚ 1983‚ about 8:28 P.M.‚ Patrolman Michael Aselton of the Barnstable police department was on radar duty at Old Stage Road in Centerville. He saw the defendant’s motorcycle speed by him and commenced
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Faculty of Business BBL2614 Business Law Trimester 3‚ 2014-2015 Title: Case Study Lecture Group: AC03 Lecturer: Dr. Abbas Hardani Group members: Student ID Student Name 1. 1121115351 Ng Xin Ping 2. 1131119155 Ng Xin Jia 3. 1131119901 Ang Shing Yi 4. 1131119152 Low Cher Lian 5. 1131119172 Kystal Ann Zhi Ling Declaration by group leader (This section is to be filled in the student’s own handwriting.) I hereby declare that all group members’ names
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Business Law – Outcome 2 (Law of Contract) Identify and describe the essential elements of a contract There are 3 essential elements in a contract: * There must be an agreement on all material aspects (Consensus in idem) Both or all parties in a contract must have the same understanding of all terms within the contract. To reach and consensus in idem‚ any acceptance must meet one of the offers made. If a party makes changes to the original offer then this is considered a conditional offer
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Business Law Can Big Bank’s president rescind the contract? Yes‚ but this is an involved process and both parties need to agree to modify it. This is because both parties had problems fulfilling their parts of the contract. Also‚ an organization (the Big Bank) can cannot eradicate the business contract‚ because since their party did something improper (that seems to be them whom input the data incorrectly). Under what circumstances can a contract be rescinded by either party? This can happen when
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Jessica Schmitt Business Law Chapter 15: 8. Sears‚ Roebuck and Co promised to give Forrer permanent employment‚ so he sold his farm at a loss to take the job. But shortly after beginning work‚ he was discharged by Sears who claimed the contract could be terminated at will. Forrer claimed that the promissory estoppel prevented Sears form terminating the contract. Under promissory estoppel a promisor may be prevented from asserting that their promise is unenforceable because the promise gave no consideration
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1. Able entered into an oral contract with Baker for the sale of Able ’s car for $5‚000. Later Baker breached that contract. Able wants to sue to enforce the contract. Under the Statute of Frauds‚ who is the "party to be charged" in this case? a. Able. b. Baker. c. Both Able and Baker. d. Neither Able nor Baker‚ because this is a contract for the sale of goods. 2. Chen‚ a retail seller of fruit‚ entered into a contract for the purchase of 10 bushels of peaches from Georgina‚ at a price
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Topic 3: Contract Law *What is a contract? a legally enforceable agreement; that is‚ an agreement enforceable in a court *Types of contracts Number of parties: * Unilateral – one party (eg reward case) * Bilateral – two parties‚ both with mutual obligations * Multilateral – more than two parties‚ all with obligat0ions Form: * Simple Contracts: written; oral; part-written & part-oral * Need all elements of a contract ‚ including consideration * If all elements
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Business Law 101 9A 4/19/2012 Chapter 4 – p99 Question: 4.5 Does Whittens “work: satisfy the requirements for a claim grounded on negligence? Yes‚ the plaintiff alleging claims that Whitten’s work was “substandard‚ not to code‚ unsafe and not done in a [workmanlike] manner. Whitten failed to act with duty of care and breached his contract by doing bad work. The tort of negligence occurs when someone suffers injury because another’s failure to live up to a required duty of care. Negligence
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