COMMERICAL LAW EXAM Agency Definition Agency may be defined as a relationship between the principal (P) and the agent (A) whereby A has the authority to create a legal relationship between P and the third party (T). The purpose of agency is that two people can enter a valid contract with one another without having to deal with each other personally. Instead‚ the contract or other transaction is brought about through A who when dealing with T acts or purports to act‚ on behalf of P. Authority
Premium Contract
has been said above‚ when a person has been convicted for an offence by a competent court‚ the conviction serves as a bar to any further criminal proceedings against him for the same offence. This principle is known as “Doctrine of Double Jeopardy”.8 The roots of the doctrine of Double Jeopardy can be traced to the Latin maxim ’Nemo debet bis vexari’. If a person is indicted again for the same offence in a court‚ he can plead‚ as a complete defence‚ his formal acquittal or conviction‚ or‚ as
Premium Double jeopardy United States Constitution
must be matched by other’s acceptance requirement of certainty of agreement parties have intention to create legal relations enforce promise: consideration promise is contained in a deed promissory estoppel (claimant has relied on defendant’s promise) reliance theory: consistent with the harm principle (prevent harm on others) restitution interest has strongest claim (2units of injustice) (only show why there is
Premium Contract
Issue “The mere existence of the core elements of offer‚ acceptance‚ and consideration will not guarantee a legally enforceable contract”. Discuss. A contract is an agreement which normally consists of an ’offer ’ and an ’acceptance ’ and involves the ’meeting of the minds ’ or consensus between two or more parties with the intention to create a legally enforceable binding contract. Therefore in this essay‚ the four core elements needed for the formation of a contract such as offer‚ acceptance
Premium Contract Contract law
MGT 320 Mastery Exercises Week 1 1. It is normally wise to represent yourself in court if you have some form of legal background. a. False 2. Standing is a statutory requirement that Congress can eliminate a. False 3. Requiring a defendant to pay a portion of his or her wages to satisfy a judgment is called _________. a. Garnishment 4. A peremptory challenge can be used to remove a juror based on gender a. False 5. The only unelected branch of government is which is the following? a. Judiciary 6
Premium Contract United States Constitution Law
Case Summaries : Week 8/ Contract 5/ Consideration 1. Alliance Bank v Broom (1864) D owed an unsecured debt to C. C asked for some security‚ and D promised to provide some goods but never produced them. When C tried to enforce the agreement for the security‚ D argued that C had not provided any consideration. HELD: that normally in such a case‚ the bank would promise not to enforce the debt‚ but this was not done here. By not suing‚ however‚ the bank had shown forbearance which was valid consideration
Premium Money Contract Payment
Misrepresentation Step 1. Determine whether the meaning of the representation is false or not – objective test Step 2. Three possibilities of a misrepresentation: 1) It is a term of the contract; 2) It constitutes a collateral contract; 3) Does not acquire contractual status at all. Step 3. Results: 1) Rescission of the contract; 2) Damages in tort (if the tort of deceit or the tort of negligence can be made out) Smith v Lane & House Property Corp This case deals with the situation
Premium Contract Contract law
the money would not normally be binding in contract law‚ and afterwards the builders sued the Rees for the outstanding amount. The Rees claimed that the court should apply the doctrine of equitable estoppel‚ which can make promises binding when they would normally not be. However‚ Lord Denning refused to apply the doctrine‚ on the grounds that the Rees had taken unfair advantage of the builders’ financial difficulties‚ and therefore had not come with “clean hands”. 2. Where the equities are equal
Premium Common law Contract
affected by irregularities of which they have no notice. But this doctrine‚ which is well established‚ applies to irregularities which otherwise might affect a genuine transaction. It cannot apply to a forgery.”97 This statement has been regarded as a dictum‚ as the case was decided on the principle that the secretary did not have actual or implied authority to represent that a forged document was genuine and‚ therefore‚ there was no estoppel against the company. Hence‚ a general statement that “the Turquand
Premium Corporation Limited liability company Forgery
1. INTRODUCTION 2. EVOLUTION OF NEGOTIABLE INSTRUMENTS 3. WHAT ARE NEGOTIABLE INSTRUMENTS 4. NEGOTIABLE INSTRUMENTS ACT‚ 1881 5. TYPES OF NEGOTIABLE INSTRUMENTS 6. CHARACTERISTICS OF CHEQUE‚ BILL OF EXCHANGE AND PROMISSORY NOTE 7. DISTINGUISH BETWEEN 8. EXCEPTIONS 9. SECTION 134 TO 137 OF AN INTERNATIONAL LAW 10. DISHONOUR OF NEGOTIABLE INSTRUMENTS 11. REVOLUTION OF PAYMENT SYSTEMS IN INDIA 12. CURRENT SCENARIO OF NEGOTIABLE INSTRUMENTS 13
Premium Promissory note Cheque