Substantial performance constitutes a minor breach of the contract. Answer: TRUE Diff: 2 Topic: Substantial Performance: Minor Breach 3) When there is substantial performance of a contract with a minor breach‚ the other nonbreaching party may sue to recover the cost to repair the defect. Answer: TRUE Diff: 1 Topic: Substantial Performance: Minor Breach 4) Specific performance is the most common remedy for a breach of contract. Answer: FALSE Diff: 1 Topic: Substantial Performance:
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Maritime Sales Contracts Contracts between vessel owners and charterers concerning the water transportation of goods are technically known in admiralty law as "contracts of affreightment". The charterer agrees to pay a freight charge for cargo space. The voyage‚ amount of cargo space‚ and time of delivery will all be covered by the contract. One common type of contract is the “voyage” charter. This type of charter usually concerns the hire of a vessel‘s entire cargo space for one or more specific
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it is on charge There are laws to protect consumers against scenarios like this. These include SOGA (The Sale of Goods Act) and SOGASA (The Sale of Goods and Services Act). Also‚ there is the Consumer Protection from Unfair Trading Regulations 2008. These were all made to protect the consumer after purchasing faulty goods or services. Also‚ there were implied terms in the contract you made when purchasing the mobile telephone which were included in SOGA and SOGASA. Furthermore‚ the trading standards
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Construction Contracts Introduction For this assignment the writer is going to discuss the nature and types of construction contracts and will explain the legal responsibilities of the various parties involved in the design and the construction process. Using different types of sources an explanation to the basic principles of contract law and how they apply. From doing this there will then be an explanation to what extent standard forms of contract are special types of contract. Contract that has
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Contracts Contracts are an important part of everyday life. They are an essential part of business. As a student of a business law class‚ I will discuss in this paper several aspects of contracts. This paper will give a definition of a contract and the essential elements necessary to form a valid contract. It will briefly discuss breach of contract and the difference between a material breach and a nonmaterial breach of contract. Examples of legal and equitable remedies available for breach
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whether a valid contract was formed and who it was formed with. As Rick’s girlfriend didn’t buy the laptop and is under the age of 18 she wouldn’t be able to return the laptop as there has been no contract formed with her. However we can assume that her boyfriend is over the age of 18 and as he bought the laptop this means the contract was formed with Rick instead of Rick’s girlfriend. The type of contract that was formed with Rick was a standard form contract this is a type of a contract is a legally
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The consequences on the firm and the individual. Although Yarushka’s family saw victory‚ It is hard to decipher just who won the case due to the fact that most False Claims Act cases are settled out of court before ever going to trial in order to avoid the severe consequences that may be imposed under the statute (Enstrom 2016). The penalty can range up to 11‚000 per false claim and possibly triple the damages (Enstrom 2016). State Farm Insurance State Farm insurance company
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Overview‚ Part Two Procurement and Contract Law Procurement Law Overview‚ Part Two Payments under Fixed-Price Construction Contract clause permits the government to partially compensate contractors for supply and services which have been accepted by the Government‚ as long as the contractor demand it and the sum is no less than $1‚000 or 50% of the full contract amount. These interim payments diminish the contractor needs to finance expenses to fulfill the contract. As permitted by the Contracting
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Runninghead: UNIT 3 – COMMERCIAL TRANSACTIONS (CONTRACTS) Victor McLaurin 28 February 2010 Abstract This week’s individual project will be in the form of an executive summary. The summary will be based on a series of questions concerning 1) the city of Bigtown’s advertising campaign (courtesy of the mayor)‚ 2) possible similarities of this promotion to a court decision and 3) possible repercussions that could be encountered if not executed with caution. The court decision concerning
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In order to apply the Equal Pay Act there are four criteria that need to be met. They are; Equal Skill‚ Equal Effort‚ Equal Responsibility‚ and Similar Working Conditions. According to the article titled An Analysis of the Equal Pay Act‚ “Equal Skill constitutes the performance requirement of the jobs under consideration‚ not the skills which are unnecessary for the job but which an employee might possess.” Examples of the skills that are under consideration are experience‚ training‚ education‚ and
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