Mr Shafron was not a member. Finally‚ Mr Shafron argued that if he was an officer (on either basis)‚ he had‚ in any event‚ not breached his duties in relation to either the ASX issue or the actuarial issue. 2. RELEVANT LAW FOR DECISION MAKING The relevant law relied on by the judge in making the decision was under section 180(1) of the Corporations Act which provides that directors and other officers of a corporation must exercise the powers and duties provided to them with the degree
Premium Corporation Appeal Decision making
The University of Baltimore Law Review University of Baltimore Law Review Summer‚ 1997 26 U. Balt. L. Rev. 1 LENGTH: 2902 words SYMPOSIUM: Developments in International Commercial Law: AN INTERNATIONAL RESTATEMENT: THE UNIDROIT PRINCIPLES OF INTERNATIONAL COMMERCIAL CONTRACTS NAME: E. Allan Farnsworth * BIO: * Alfred McCormack Professor of Law‚ Columbia University. B.S.‚ 1948‚ Michigan; M.A.‚ 1949‚ Yale; J.D.‚ 1952‚ Columbia University; LL.D.‚ 1988‚ Dickinson College of Law; docteur honoris causa‚ University
Free Common law Law Contract
subject to the Commercial Activity Tax (CAT). The test states that companies with no connection to Ohio at all are still subject to the CAT if they have sales in the state totaling at least $500‚000. The “factor presence test‚” which has now come to be referred to as an “economic nexus” standard‚ makes it clear that there is no need for companies to have any physical connection with the state. However‚ three out-of-state sellers with no physical presence in Ohio‚ Crutchfield‚ Inc.‚ Newegg‚ Inc
Premium United States Balance sheet Supreme Court of the United States
Case Study 1 Ebbers vs. Central Apartments Ltd. In this case Central Apartments Ltd has borrowed $800‚000 from exchange bank and secured the loan by a five year mortgage on the apartment building. Since the bank required additional security the president of the corporation at the time named Ebbers personally signed the guarantee. This makes Ebbers the guarantor and responsible for the debt if the principle debtor‚ Central Apartments Ltd‚ should default in the payment of their debt. Ebbers who
Premium Money Debt Loan
substantial – the principle of law is found in the precedence called the ratio decidendi: the narrowest and necessary legal principle upon which a legal decision was based. This is the aspect of the case that binds future courts and must be followed. 2) Structural: what precedent cases must be followed. Rupert Cross wrote a book called “precedence in legal law” and described the structural component of the stare decisis as “every court is bound to follow nay case decided by a court above it in
Premium Law Common law Stare decisis
Question 1 The UK Rail vs. Smithfileld case is a striking example of the term – Agency of Necessity. This is the case when‚ in certain circumstances‚ the agent is allowed by law to take actions on behalf of the principal without the will‚ knowledge or any other representation of the principal. However‚ certain requirements have to be met‚ in order for the agent to claim that it acted out of necessity: 1) the actions have been taken for the reason of compelling emergency; 2) impossibility
Premium Partnership Retirement Pension
neutral third party or panel of experts hears a dispute and imposes a resolution of the parties” (Miller & Jentz‚ 2008‚ p.50). However‚ both parties must sign and agree to the above statement for it to be acknowledged as a legal judgment. In the case of Thomas Baker and Osborne Development Corporation it gets a little bit more involved. For starters‚ Osborne Development purchased the home warranty program administered by Home Buyers Warranty and signed the agreement of arbitration with them.
Premium Appeal Arbitration Dispute resolution
COMMERCIAL LAW FEEDBACK EXERCISE The issue in this case is whether there is misrepresentation or breach of contract. The distinctions between the two legal issues of misrepresentation and breach of contract are dependent on whether the pre-contractual statement was made on the basis of a representation‚ or on a promise or obligation to be fulfilled. Breach of contract is a legal cause of action in which a binding agreement or bargained-for exchange is not honored by one or more of the parties
Premium Contract Breach of contract
NEGLIGENCE According to common law‚ “negligence is defined as a conduct that fall below the standard of care necessary to protect other from unreasonable risk of injury”. The legal issue is whether […….] can successfully sue […….] for negligence. In order to know whether the defendant commit negligence or not‚ 4 elements must be satisfied‚ including 1) Duty of care (DoC)‚ 2) Breach of the DoC‚ 3) Causation and 4) Remoteness. 1) DUTY OF CARE Case 1: PHYSICAL INJURY: The first element to be proven
Premium Contract
Contract = an agreement between two or more persons which will be enforced by a court of law *Action for breach of contract is part of common (judge-made) law *Essence of contract law is to protect the bargain bw 2 parties *Must not engage in conduct that is misleading‚ unconscionable and unfair. 1. Formal contracts Contracts of record (court records) Contracts under seal (ie deeds‚ gratuitous comments) 2. Simple contracts In writing Evidenced in writing No requirements SIMPLE ROADMAP Intention
Premium Contract