"Contents Of A Valid Agreement And Standard Form Business Contracts" Essays and Research Papers

Contents Of A Valid Agreement And Standard Form Business Contracts

Table of content Introduction 5 Content 6 Task 1: 6 1. Business agreement: 6 2. Requirement to form a valid contract: 9 Claim 1: 13 Claim 2: 15 Claim 3: 19 Task 2: Explain the differences among conditions, warranties and innominate terms with examples to illustrate: 22 Task 3: Law on standard form contracts: 24 Claim 4: 29 Conclusion 32 Reference 32 Introduction The knowledge of the law of contract is very importance when doing business. Law of contract is a part of...

Breach of contract, Consumer Protection, Contract 6185  Words | 17  Pages

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Agreement and contracts

 A contract is a legally binding agreement or relationship that exists between two or more parties to do, or abstain from performing certain acts. A contract can also be defined as a legally binding exchange of promises between two or more parties that the law will enforce. For a contract to be formed an offer made must be backed with an acceptance of which there must be consideration. Both parties involved must intend to create legal relation on a lawful matter which must be entered into freely...

Breach of contract, Contract, Contract law 1942  Words | 7  Pages

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Valid Contracts

Valid Contracts Victoria Glaser American Intercontinental University Abstract A contact is a legal binding agreement made between two parties. A contract is only enforceable if both parties involved in the contract have agreed to give or receive something of value. When going into an agreement or contract it is important to know the type of contract. This paper will explore the various types of contracts and the meaning of each. Express or implied contracts, unilateral...

Consideration, Contract, Contract law 1291  Words | 5  Pages

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Contract Form

 Standard Form Contract For A Turnkey Project LAW 1000 Professor:  Dr. Ashraf Elazouni Stanley Varghese 040-789-984 Introduction The Canadian Construction industry uses a set of standard form contracts to come to an agreement. The type of standard form contract chosen for the particular project depends on the requirements of the intended parties. The standard form contracts are usually used as it gives a starting point for negotiation and the language used would be...

Construction, Contract, Contract law 1538  Words | 5  Pages

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The Four Elements of a Valid Contract

insight into the four elements of a valid contract as well as the objective theory of contracts. It will also explain how the objective theory of a contract applies to this case. I will try to explain why the court held that there was not a valid agreement between the company and the Seattle man. The four elements of a valid contract Contracts are used in today’s world as a major part of interaction between individuals or companies and consumers. Contracts are often used within our professional...

Common law, Contract, Contractual term 961  Words | 3  Pages

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Requirements for a valid contract

BTEC National Business Unit 21: Aspect of contract and business law Assignment 1: The requirements for a valid contract P1: Identify the legal criteria for offer and acceptance in a valid contract. In order for a contract to be legally binding, both parties must make an offer and an acceptance of that offer. An offer, by law it is generally presumed that in a commercial transaction, the contracting parties must have the intention to create a legally binding contract. This means that if they...

Carlill v Carbolic Smoke Ball Company, Contract, Contract law 1882  Words | 5  Pages

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Contract Assignment 2

of the agreement, this performance can be looked at as detriment to the party performing and a benefit to the other party, thus providing the consideration for the other party’s promise. Here in the current situation Mia performed his part of the work further to the promises made to him. Since he has provided the consideration in the shape of performance therefore Hakim and Jane cannot go back on their promises. Principle of Liability Distinction between liability in tort and contract Both tort...

Breach of contract, Common law, Contract 1270  Words | 4  Pages

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Valid Contract

Essential features of a valid contract Contracts come in all shapes and sizes. Some are verbal, some are written. Some are formal, some informal. The use of the internet and electronic technology is also becoming increasingly common in the context of forming contractual relationships.  It is, therefore, important to understand the essential features which make a contract valid, binding, and enforceable. What is a contract? A contract is an agreement between two or more parties that is intended...

Breach of contract, Common law, Consideration 810  Words | 3  Pages

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The Valid Contract

A valid contract consists of all essential components which present and the court will enforce as a legally binding promise . One of the elements contract to create a contract is agreement which included an offer and acceptance. “Acceptance is a final and unqualified assent to the terms of the offer, made in the manner specified or indicated by the offeror” . Acceptance may be express orally, in writing, occasionally, or even by implied from the offeree’s conduct. In communication of acceptance,...

Common law, Communication, Contract 2101  Words | 6  Pages

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Terms of a Standard from Contract (P4)

Terms in a standard form contract Implied terms These are terms that are implied by acts of legislation. The acts to consider are: • Sales of goods act (1979) • Sales of goods and services act (1989) Express terms These terms are written down and agreed upon at the time of the contracts. They will fall into one of three categories: • Conditions (major terms) • Warranties (minor terms) • Innominate terms (not defined until broken) Impact of terms These specific terms are terms that can...

Consumer Protection, Contract, Contract law 909  Words | 3  Pages

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Law, Understanding Contracts

 Understanding Contracts Sultan Shabazz September 29, 2013 International Legal and Ethical Issues in Business, Sunday, 10:00 p.m. American InterContinental University Professor Jarrod Burch Certification of Authorship: I certify that I am the author of this paper and that any assistance received in its preparation is fully acknowledged and disclosed in this paper. I have also cited any sources from which I used data, ideas, words, either quoted directly or...

Consideration, Contract, Contract law 901  Words | 3  Pages

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Explain the Different Types of Business Agreement and the Importance of the Key Elements Required for the Formation of a Valid Contrac

Introduction 1a. Different Types of Business Agreements A business agreement is a formally drawn written document or oral promise between two or more parties that details a particular business venture. A typical business agreement specifies details such as cost of goods sold, the product or service required, milestones, insurance, and work completion deadlines. Unilateral Agreement A unilateral agreement or contract is a legal binding one in which one party undertakes a promise without securing...

Consideration, Contract, Contract law 1784  Words | 5  Pages

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Business Law

Trohin Business Law William A. Shelby 2/13/2013 Introduction At the course of Business Law, we got the knowledge about the contract. In addition we have an assignment that provides a contract analysis. This evaluation of the contract will be reviewed in accordance with the following requirements: 1. What specifically makes this contract enforceable? 2. What are the responsibilities...

Breach of contract, Business, Contract 2363  Words | 7  Pages

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Standard Form Of Contract

M2014036 1 2 Contract Defined An agreement between two or more parties representing a promise to be performed for consideration 3 Necessary Parts of a Typical Construction Contract O Parties identified O Parties make promises that constitute an offer O Both parties sign the contract O Both parties receive consideration: O Contractor – payment for work done O Owner – use of the completed project O Parties of the contract must have the LEGAL AUTHORITY to negotiate a contract 4 Contractual...

Common law, Contract, Contract law 2352  Words | 11  Pages

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Agreements to Agree

types of contract that exist in South African law. Some of these contracts have been taken from Roman law, Roman-Dutch Law and English law; of which are the source of contact law in South Africa. Some of these contracts include; real contracts, verbal contracts, literal contracts and consensual contracts. But for the focus of this assignment we will concentrate on ‘agreements to agree’ (which are options) and leases as contracts in our law. Lease Contracts “A lease contract is a contract for the...

Breach of contract, Common law, Contract 2650  Words | 7  Pages

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Content of a valid contract

Table of content: 1.1 The importance of the essential elements required for the formation of a valid contract-explain (P1.1) A contract will be enforceable if it can satisfy some basic conditions. These type conditions are known as elements of essential for a valid contract. Every legal contract satisfies these conditions. Without satisfying these conditions a contract can’t be acceptable. That’s why for the formation of a legal contract satisfying the essential elements is very important. The...

Breach of contract, Common law, Consumer Protection 3504  Words | 10  Pages

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Elements of a Valid Contract

elements of a valid contract, explain what the objective theory of contracts is and define and explain how the objective theory of contracts applies to the Unit 3 IP. This paper will also explain why I think the court held that there was not a valid contract in the scenario of the unit 3 IP as well as explain why advertisements are generally considered not to be valid offers. The four elements of a valid contract are: * There must be an agreement in all vital conditions of the contract. * ...

Common law, Contract, Gentlemen's agreement 775  Words | 3  Pages

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Business Law: Contract Validity

address the basics of what makes a contract valid. In addition, this paper will include an example of a contract as well as which sections make it a valid contract. Then, a contract made between my husband and me, to demonstrate a simple contract. This paper will also go into the factors that make a verbal contract lawful. MGM230-0903B-04_P2-IP Many factors make up a valid contract, or a promise in which the law will enforce. First there needs to be an agreement between the two or more parties...

Breach of contract, Contract, Contract law 1090  Words | 4  Pages

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Binding Agreements in Business Law

Business Law “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.” As a legacy of being a British colony, Australian Law has been very much guided by legislation and case law from England for over two centuries. Even though a number of Acts were passed in the British Parliament gradually enabling the Australian States, and from 1901 the Commonwealth, to enact their own legislation...

Common law, Consumer Protection, Contract 2444  Words | 10  Pages

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Breach of Contract in the Business World

Breach of Contract in the Business World | | | | | | | Table of Contents Executive Summary iii I. Introduction 1 II. Breach of Contract 1 III. Immaterial Breach of Contract 1 IV. Material Breach of Contract 2 V. Remedies 3 VI. Remedies at Law 3 VII. Remedies in Equity 5 VIII. Summary 6 IX. Bibliography 8 Executive Summary This paper discusses the legal concept of a breach of contract and the options a business has in pursuing a breach of contract case....

Breach of contract, Contract, Damages 1867  Words | 7  Pages

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Business Documents

Summer-Jean Telfer Principles of Business Ms.Bernadine 4 central Table Of Contents (A) Business Documents (1) Requisition - form issued by a using department to the supply or materials department requesting the acquisition of material not regularly carried in using department's normal stock; also called purchase requisition and stock requisition. The Purchase Requisition Form in the procurement process plays an important role. It is a means whereby an employee of a company...

Credit card, Procurement, Purchase order 973  Words | 4  Pages

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Aspects of Contract and Negligence in Business

Aspects of Contract and Negligence for business Be able to apply the elements of a contract in business situations John Messenger Transitionscoachingservices.co.uk Amandeep Singh Date:-30/11/12 Table of content :- * Apply the elements of contract in given business scenario . * Application of relevant principles and case law to business scenario. * Apply the law on terms in different contracts . * Contents of standard form business...

Common law, Contract, Contractual term 2563  Words | 7  Pages

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Standard Form Contracts

A standard form contract (sometimes referred to as an adhesion contract or boilerplate contract) is a contract between two parties that does not allow for negotiation, i.e. take it or leave it. It is often a contract that is entered into between unequal bargaining partners, such as when an individual customer is given a contract by the salesperson of a multinational corporation. The customer is in no position to renegotiate the standard terms of the contract and the company's representative usually...

Common law, Contract, Contract law 3015  Words | 8  Pages

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Business Forms

Forms of Business When beginning a business venture, the first and most important decision made by the owner is to review the forms of business options and determine which one would be suitable for the organization of their company. There are seven forms of business that will be discussed and different scenarios that will be developed in which each of these forms of business would be the preferred form. The seven forms of business are sole proprietorship, partnership, limited liability partnership...

Business, Business law, Corporation 1782  Words | 5  Pages

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Rds Independent Contract Agreement

Independent ContraCtor’s agreement Independent contractor—subject to the terms and conditions of this agreement, the company (Road Runners Delivery Service) hereby engages the contractor as an independent contractor to perform the services set forth herein, and the contractor hereby accepts such engagement. Duties, terms and compensation—The contractor’s duties, are as follows: The contractor agrees to pick up from local restaurants all orders and to deliver them in a timely and efficiently manner...

Contract, Customer, Customer service 1096  Words | 3  Pages

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PAPER – CONTRACT 1 Define contract. Explain the essentials of valid contract. A voluntary, deliberate, and legally binding agreement between two or more competent parties. Contracts are usually written but may be spoken or implied, and generally have to do with employment, sale or lease, or tenancy. 1. Essentials of a valid contract All agreements are not contracts. Only that agreements which is enforceable at law is a contract. An agreement which is enforceable at law cannot be contract. Thus...

Common law, Contract, Contract law 718  Words | 3  Pages

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Business Contract

INTERNATIONAL SUPPLY AGREEMENT Preamble This SUPPLY AGREEMENT (herein after the “Contract”) is entered into as of April 30, 2009, by and between the undersigned: BradiagaKrills Ltd ( hereinafter “ the Seller” or “Bradiaga”), a company organized under the laws of the Russian Federation, whose head office is located at ……………, Murmansk, Russian Federation, represented by Mr. ABC, acting as Chairman of Bradiaga. ON THE ONE HAND And: Blizzard Ltd (herein after “the Buyer” or “Blizzard”)...

Contract, Force majeure, Party 1735  Words | 6  Pages

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Agreement is an important aspect in the

Agreement is an important aspect in the formation of a contract. A contract is a legally binding agreement between 2 parties. A contractual agreement is said to exist when a valid offer is followed by a valid acceptance. • Sometimes people will negotiate to try to gain something different from what is first offered. This may make it difficult to know exactly when a contract is formed and when legal obligations begin. Components necessary for contract formation • 1. An OFFER- a promise to be bound...

Contract, Contract law, Contractual term 1352  Words | 26  Pages

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Business Contracts and Legal Risks

related to their business until they are hit with a lawsuit or decide they need to take legal action against someone else. The ramifications of a lawsuit as a plaintiff or a defendant can impact a company and even destroy a company and its reputation. This can happen if the company is not fully prepared on handling legal pitfalls that might come their way. Creating a system that defines and controls the company’s workflow is important in running a smooth and profitable business, as well as avoiding...

Contract, Law, Lawsuit 2094  Words | 6  Pages

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Elements of a contract

1 Elements of a Contract Moses Parker BUS 670: Legal Environment Porf. Stacey Callaway October 6, 2014, 2014 ELEMENTS OF A 2 Elements of a Contract Indeed, contracts plays a very significant role in all aspects of society; according to Nysten & Lehto, (2012), “Business people often understand contracts as legal documents, designed by lawyers in...

Common law, Contract, Contract law 1502  Words | 8  Pages

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Preferred Business Forms

analyze each of the following forms of business: sole proprietorship, general partnership, Limited Liability Partnership (LLP), Limited Liability Company (LLC), S-Corporation, franchise, and C-Corporation and develop a justifiable scenario of the preferred form of business. Business Forms The sole proprietorship is the simplest form of business. The owner of the business is called the sole proprietor and is the business. The sole proprietorship, while being easy to form and maintain, has one major...

Business law, Corporate tax, Corporation 1383  Words | 4  Pages

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Business Law and Ethics, Offer and Acceptance for a Contract

Business Law and Ethics Assignment 14/03/2013 Module : 26313 Module leader : Phil Robinson Words count : 1088 In order to advise Neil, it is necessary to consider the law of the contracts, especially about offer and acceptance. We will analyze the situation to see what laws are applicable and advise Neil. In this case, we have three different people: Firstly an offeror, a person who makes an offer (in this case, Neil) and two offerees, the person to whom an offer is made (in this case...

Cat, Contract, Contract law 1117  Words | 3  Pages

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Aspects of Contract and Negligence for Business

Everyday tasks of this position would involve creating several forms of promotional materials to promote our events, such as website, facebook pages, posters, tickets, invitations, flyers, videos. Finding printers for the promotional materials, getting quotes for printing and other necessary outsourcing of the promotional materials. As we will be employing these 2 new employees we will need to create a valid employment contract for them, there is a simple flow chart that can be used to ensure...

Contract, Contract law, Contractual term 2435  Words | 6  Pages

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Law 531 Contract Creation and Management

Contract Creation and Management Johnny B Good LAW/531 April 30, 2012 Professor Law   Contract Creation and Management This week assignment is to provide analysis on the Contract Creation and Management simulation provided in the University of Phoenix (UOP) materials website. The simulation involves two companies; Span Systems, a California-based custom e-banking software developer and Citizen-Schwarz AG (C-S), a Stuttgart-based bank with revenues of over $20 billion. Through C-S’s regional...

Breach of contract, Contract, Contract law 1745  Words | 5  Pages

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Contract Law

In Business, contracts can be considered as the heart of dealings and have to be taken with utter most consideration of the acceptance, however in order to understand in depth a binding agreement, we must first discuss, what determines a contract or binding agreement. These can be defined as “an agreement which the law will enforce” as well as a “promise or set of promises which the court will enforce”. To facilitate a binding agreement, an acceptance must occur and must be absolutely unconditional...

Common law, Contract, Contractual term 1349  Words | 4  Pages

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Form and Reformation of Contracts

FORM OF CONTRACT (Arts 1356-1358) 1. What is the form of a contract in order that it will of obligatory force? (Art. 1356, CC) GENERAL RULE: Whatever may be the form in which a contract may have been entered into, the general rule to 1356 of the Civil Code, is that it shall be obligatory provided all of the essential requisites for its validity are present. EXCEPTIONS: 1) When the law requires that the contract must be in a certain form in order to be valid; and 2) When the law requires that...

Common law, Contract, Immovable property 1080  Words | 4  Pages

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Aspects Of Contract

ASPECTS OF CONTRACT AND NEGLIGENCE OF BUSINESS Task: 1.1: Explain the importance of the essential elements required for the information of a valid contract? Offer A valid offer identifies the bargained-for exchange between the parties and creates a power of acceptance in the party to whom the offer is made. The communication by one party known as the offeror to the another party called the offeree b) Acceptance To constitute a contract, there must be an acceptance of the...

Common law, Contract, Contract law 1598  Words | 9  Pages

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Legal Forms of Business

Legal Forms of Business Law/531 2013 2013 Abstract This paper will consider each of the following legal entities: sole proprietorship, partnership, limited partnership, Limited Liability Company and corporation. In addition, it will explain why sole proprietorship would be the legal entity chosen to set it up a business. Legal forms of business Sole Proprietorship: A sole proprietorship is the simplest and most common structure chosen to start a business. It is an unincorporated business...

Business law, Corporation, Legal entities 905  Words | 3  Pages

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Elements of a Contract

Elements of a Contract Bus 670 Legal Environment Abstract In order for a contract to be valid, it must meet certain standards. Contracts can be formed by two parties for multiple reasons, but must hold up to the same standards in court to be valid. The first element of the contract is the offer. The offer is very important because it is where the contract initializes, and is presented to the offeree by the offeror (Mallor et al., 2010, p. 307). The second element is acceptance. In this...

Common law, Consideration, Contract 1443  Words | 4  Pages

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Contract Agreement

LEASE AGREEMENT This lease agreement, is made on the day of December 21st, 2012. Alectra Ltd. Company, incorporated under the relavant law of Bangladesh, having its registered office at house no. 96/1, Road no.15, Gulshan, Dhaka. (hereinafter referred to as “lessor”) Muktadir Khan, son of Faysal Khan, having his permanent address at house no. 46/2, Alauddin Road, North Badda, Dhaka. (hereinafter referred to as ‘leasee”) WHEREAS, the leasee is a company, carrying a business of electronic goods...

Landlord, Lease, Leasehold estate 1349  Words | 4  Pages

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International Business Law Review

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...

Breach of contract, Common law, Contract 670  Words | 3  Pages

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Business School

YOU DECIDE PROJECT CONTRACT AND PROCUMENT MANAGEMENT (PM 598) APRIL 14, 2013 Table of Contents How you will split the $15,000 left in the investment? 3 How to handle the lease on the kitchen space, which has 18 months more to run? 3 How to handle the lease on the van, which has 18 months more to run? 4 How to handle the lease on the kitchen equipment, which as six months more to run? 4 What have you learned this week that...

Contract, Contractual term, Negotiation 1192  Words | 4  Pages

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Business Forms

Legal Forms of Business Charlotte Strawhacker LAW 531 Feb 4, 2013 Legal forms of Business There are many ways to organize a business including sole proprietorship, partnership, corporation, S Corporation, Limited Liability Company, franchise and joint venture. Each form has its advantages and disadvantages and each has its own requirements and may be taxed differently. When starting a business the entrepreneur needs to look at all options to decide which would fit their business plan best...

Business, Business law, Corporate tax 1346  Words | 4  Pages

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Breaching a Contract

BREACHING A CONTRACT First What is a Contract? A Contract is defined as a binding agreement between two or more persons or parties; Especially; One legally enforceable. When signing a contract the person signing signs the contract, to render services for a certain amount of time or for a certain amount of material, which is labeled a term in the agreement. In every contract there are certain duties and rules that are to be followed and obeyed. When disobeyed or rules are broken then that leads...

Breach of contract, Contract, Contract law 2479  Words | 6  Pages

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Legal Forms of Business

Legal Forms of Business LAW/531 Business Law March 4, 2013 Dr. Linda Fried Legal Forms of Business Businesses exist and managed in many of the same ways. However, there are many formats that businesses are operated in. From sole proprietorship to different partnerships to corporations, each form has many similarities, but they are very different types of businesses. Each business entity will vary on three primary factors: liability, taxation and record-keeping (Entrepreneur, n...

Business law, Corporation, Legal entities 925  Words | 3  Pages

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PowerPoint Presentation on Contracts AIU

CONTRACTS Prepared by: Cleveland Sharpe American InterContinental University What is a Contract A contract is when two or more individuals make an written or oral agreement for legal consideration on a legal subject matter which is bound by law. Elements that Form a Contract  Offer – when a party (offeror) indicates the willingness to enter into an agreement on certain specified terms.  Acceptance – this is when the offeree agrees to the terms of the contract.  Consideration – this is...

Commercial law, Consideration, Contract 488  Words | 10  Pages

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Contracts and Privacy Issues

Contracts and Privacy Issues: Contracts Shaun Adams American Intercontinental University Abstract He examines the differences between implied and express contracts, unilateral and bilateral contracts as well as void and voidable contracts. He also shows the key elements in the formation of a legally binding contract and examples of valid consideration. Implied contracts are one that are not stated clearly, while express contracts are ones that are clearly stated and understood. An example...

Consideration, Contract, Contract law 1289  Words | 4  Pages

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Form and Content

Chapter 24--Form & Content -Negotiable instruments (instruments): drafts, checks, promissory notes, and certificates of deposit. -Utilized in the sale of goods and services as well as financing businesses. The use of negotiable instruments has increased to such an extent that payments made with these instruments, checks in particular, are now many times greater than payments made with cash, which now is used primarily for smaller transactions. The utilization of checks has decreased due...

Bearer instrument, Cheque, Credit card 661  Words | 3  Pages

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Formation of a Contract

Formation of contract The green van Hubert’s initial e-mail is merely an invitation to treat, demonstrating only a willingness to negotiate rather than an intention to be bound by acceptance. The response from Philip to Hubert’s preliminary enquiry about the green van is, however, clearly an offer. There is intention to be bound by acceptance, demonstrated by the expression “when do you want it?”, combined with identification of the essential elements – the price (£30,000) and the subjects (the...

Breach of contract, Contract, Contract law 1742  Words | 5  Pages

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Validity of Contracts Act 1950 Including Section 14

[pic] OPEN UNIVERSITY MALAYSIA ASSIGNMENT BBUN 2103 BUSINESS LAW SEMESTER JANUARY 2012 NAMA: DAHALAN BIN MUSA. MATRIK: RF145263001. LECTURER:BRIGITTE A/P LOURDESAMY. INTRODUCTION. At Malaysia,public already known that all business either small or huge,there are one systems or specifically words or most suitable called Contract Laws.All conditions among two or three or more sides are include under the Contract Laws 1950 where its take as a guidance or as assistant to make sure...

Common law, Contract, Contract law 599  Words | 3  Pages

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Contract Scenario

 Contract Scenario Stanley Moore Business Law 575 December 2, 2013 Professor Thomas Kershaw Contract Scenario Recently, Danny Davidson sold a family home to his friends Paul and Priscilla Peterson whereby entering into a $250,000 verbal agreement for the purchase of new home. However, Danny neglected to tell Paul and Priscilla about Ned the neighbor and the emerging dispute pertaining to the boundaries of the south property. Once the purchase was final the Petersons proceeded to...

Breach of contract, Contract, Contract law 998  Words | 4  Pages

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8 C's of business letter

8 C's of a Business Letter Clarity The first element of all business letters is that they should be clear. This includes the purpose of the letter and words used within the text. Clearly state your point near the beginning to allow the reader a clear understanding of the letter's purpose. Conciseness Avoid using extra words in a business letter. The element of conciseness refers to stating an idea in the fewest words possible. Don't add superfluous information or extra words to fill space...

Academy Award for Best Actress, Academy Award for Best Director, Academy Award for Best Picture 926  Words | 3  Pages

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The Law of Contract - Voidable Contract – Coercion

The Law of Contract Voidable Contract – Coercion The word “contract” can be defined as a voluntary, deliberate, and legally binding agreement between two or more competent parties. Contracts are usually written but may be spoken or implied, and generally have to do with employment, sale or lease, or tenancy. A contractual relationship is evidenced by an offer, acceptance of the offer, intention to create legal relations, consideration, certainty and capacity. However, while all parties may expect...

Breach of contract, Contract, Contract law 1036  Words | 4  Pages

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Tort Liability and Contract Liability.

Tort Liability and Contract Liability A tort is a legal term for "a wrong." The "tort law" is composed of state statutes and court decisions that gives one the right to sue someone who causes harm to them, whether it's a drunk driver, a corporation that manufactures a defective product, a credit card company that overcharges you, or a government bureaucrat that breaks the law or a school official such as a teacher or principal. The law of the state in which the school is located determines a school's...

Common law, Contract, Duty of care 1493  Words | 5  Pages

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essential elements of a valid contract

Essential elements of a valid contract Introduction: In this part of my assignment I will be detailing what the different elements of a valid contract are whilst also linking it in with my own contract. The contract I have decided to use is my mobile phone contract from Vodafone. The offer: In contract law the offer is where a person will accept the invitation, for example in my contract the offer would be when I offer to bind into their contract and purchase a mobile phone deal, and this...

Common law, Contract, Contract law 817  Words | 2  Pages

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Contract and Chou

 Case Scenario: Big Time Toymaker LAW/421 January 14, 2014 Dr. Mark Pugatch, BS, MBA, JD Case Scenario: Big Time Toymaker The case scenario under review by our team includes a contract law situation involving a board game company and a game inventor. Big Time Toymaker (BTT) is a board game company which develops, manufactures, and distributes board games, and Chou is the name of the inventor of a new strategy game. In this scenario, what began with a payment made from BTT to Chou...

Breach of contract, Contract, Contract law 1468  Words | 4  Pages

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Discuss the essential elements of a valid contract?

2(h) of the Indian Contract Act, 1872 defines a contract as an agreement enforceable by law. Section 2(e) defines agreement as "everypromise and every set of promises forming consideration for each other." Section2(b) defines promise in the word: "When the person to whom the proposal ismade signifies his assent thereto, the proposal is said to be accepted. A proposalwhen accepted becomes a promise." From the above definition of promise, it is obvious that an agreement is anaccepted proposal...

Common law, Contract, Contract law 698  Words | 3  Pages

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business law :Breach of Contract

Question TWO What is a "Breach of Contract"? A business contract creates certain obligations that are to be fulfilled by the people or companies who entered into the agreement.  In the eyes of the law, a party's failure to fulfil an end of the bargain under a contract is known as a "breach" of the contract. Depending on the specifics of the contract, a breach can occur when a party fails to perform on time, does not perform in accordance with the terms of the agreement, or does not perform at all. Accordingly...

Breach of contract, Contract, Contract law 721  Words | 2  Pages

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Business Law -Tort Law

INTRODUCTION TO BUSINESS LAW The Law of Tort Core Reading: Lucy Jones, Introduction to Business Law (Oxford University Press, 2011). Chapter 11 on The Tort of Negligence (Refer to pages 340 – 374). Please note that we ARE NOT going through every single areas in relation to negligence. For instance, the area on nervous shock. Aims and Objectives: -  To enable students to appreciate the general law of tort, especially the concept of negligence;  To understand how this area applies...

Common law, Contract, Duty of care 1577  Words | 7  Pages

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Bus311 Business Law I

Running head: CONTRACTS Contracts, What Are They? How Do They Work Student Name BUS311 Business Law I Instructor: name Date Abstract In this paper, I will reflect on the operation of contracts. Business law shows how contracts may be classified in several ways depending on the manner in which they are created, expressed, or performed. I have learned a lot from this course and I will use that to help write this paper. In the following paper I will...

Breach of contract, Contract, Contract law 2524  Words | 7  Pages

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