performance b) Loss of the thing due c) Condonation or remission of the debt d) Confusion or merger e) Compensation f) Novation In addition: g) Annulment h) Rescission i) Fulfillment of a resolutory condition j) Prescription k) Death of a party in case the obligation is personal l) Mutual desistance m) Compromise n) Impossibility of fulfillment o) Happening of fortuitous events PAYMENT or PERFORMANCE Payment or fulfillment consists in the delivery of a sum of
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For a contract to be legally binding all of the following elements must be present. If one or more is absent the contract will be considered invalid or void. The first element of the contract is Offer and Acceptance. For a contract to be considered valid one party (the offer) must make an offer to another party (the offeree). Before an offer is accepted it must be communicated to the offeree. A offer is immediately made into a contract when the offeree accepts the offeror’s tender. An offer can be
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Joseph Egan English 1010-09 Elliot The Profile of a Contract Killer When taking a dive into the taboos of society a great number of things come to mind‚ everything from prostitution to drug rings‚ but both these and many of their counterparts are connected to one common thing‚ that thing is organized crime. Organized crime is any criminal operation or illegal activity that operates within a system outside the law. That being said it’s obviously a dangerous business; one that must be run with
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Analyse the major problems surrounding the pre-incorporation contracts and evaluate how fare these problems have been resolved by the provisions of section 36C of the Companies Act 1985‚ as amended by the Companies Act 2006. 1) what are pre-incorporation contracts 2) problems surrounding pre-incorporation contracts 3) how fare have these problems been resolved A company cannot enter into a contract before it exists as a legal person by being incorporated on its registration by the
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Term Paper Rent-a-Car Contract ADM 3360A Andrew Sarofeim 4856542 December 7‚ 2010 Introduction With the ability to fly anywhere around the world at a relatively affordable price‚ many Canadians are finding themselves taking trips to visit family‚ friends‚ or complete strangers more often than ever before. However‚ the ability to travel in a given destination of choice will require the ability to drive a car. This has created a large
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The Law of obligations and contracts is a the body of rules which deals with the nature and sources of obligations and the rights and duties arising from agreements and the particular contracts. Obligation latin word obligation meaning tying or binding; Juridical necessity to give to do or not to do. Requisites of an obligation 1) Passive subject; debtor‚ obligor 2) Active subject; creditor or oblige 3) Object or prestation‚ subject matter of obligation 4) Juridical tie; efficient
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Option B a) Late Interim Payments by Employer The various contractual provisions in relation to the late interim payments by the Employer will be addressed with the use of the JCT Standard Building Contract With Quantities 2005 Edition (JCT SBC05) Revision 2 2009. According to Clause 4.13.1 of the (JCT SBC05) Rev 2 2009‚ the Employer is obliged to pay the amount due as stated in the Interim Certificate within 14 days from the date of issue. According to Clause 4.13.3 & 4.13.4 of the (JCT SBC05)
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7/01/13 Business Contracts: Protocol‚ Laws & Ethicality There are various kinds of contracts which arise within our business world today; contracts are an essential component to business livelihood. Although a contract is an agreement‚ not all agreements are valid contractual obligations. In order for any contract to be an official and legally binding agreement‚ there are essential requirements which must first be fulfilled. Because contracts are vital to the organization and
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Sahara except Liberia‚ Uganda‚ Djibouti‚ Burundi and Central African Republic. b. Found in coastal areas of eastern and western Africa c. In East Africa – found in the lowlands 5. Conservation Status 6. Importance and Use a. Leaves b. Fruit c. Food Uses d. Seeds 7. Environmental Characteristics 8. Morphological Traits and Variation a. Characteristics b. Traits c. Genetic Variation 9. Threats
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valid contract is that the parties entering the contract are those who have the competency to contract. This is based on section 10 (1) of the Contract Act 1950 which states: “All agreements are contracted if they are made by the free consent of parties competent to contact‚ for a lawful consideration and with a lawful object‚ and are not hereby expressly declared to be void.” Competency refers to the capacity of being an adult‚ having a sound mind and not forbidden by law to enter any contract (e.g
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