Business law and ethics Ref book: Commercial law and Industrial law
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CONTRACT LAW INTRODUCTION The Law of Contract governs the relationship between individuals in a wide range of circumstances. Everyday actions often involve making contracts and therefore the law has simple foundations. Contract law covers everything from simple shopping to large commercial deals and case law is wide in the matters that it covers also. Contracts are made by ordinary people in everyday situations many times a day e.g. buying a magazine‚ shopping‚ parking the car etc. Usually
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A breach of a contract is a failure to perform it. True A court may depart from a precedent if the precedent is no longer valid. TRUE A decision on a given issue by a court is not binding on an inferior court. False A defendant is a person against whom a lawsuit is brought. TRUE A federal statute regulates an employment practice. To resolve a dispute concerning the practice‚ Paula‚ a judge‚ will most likely apply the statute. A state constitution is supreme within the state’s borders
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DUTIES OF DIRECTOR Introduction Duties and liabilities are imposed on officers of a company‚ including directors‚ both by common law and statute. Thus‚ directors owe their companies fiduciary duties at common law. These duties are further supplemented by the Act. Officer –section 4(1) FD duty of care skill and diligence statutory duty The fiduciary duties of directors may be conveniently examined under the following categories. Director owe a duty to: Act bona fide and in the interests
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Contract By definition under Sec 2(h) Contract Act 1950‚ “an agreement enforceable by law is a contract”. A contract is a promise or agreement between two or more parties that is enforced by law to be legally binding. It may involve a duty to do or refrain from doing something‚ and the failure to perform such duty is a breach of contract. The role of law in a contract is not to punish the breaching party but to provide remedies to restore the person wronged to the position they ought to occupy if
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Guide to Doing Business Bangladesh Prepared by Lex Mundi member firm‚ Amir & Amir Law Associates This guide is part of the Lex Mundi Guides to Doing Business series which provides general information about legal and business infrastructures in jurisdictions around the world. View the complete series at: www.lexmundi.com/GuidestoDoingBusiness. Lex Mundi is the world’s leading network of independent law firms with in-depth experience in 100+ countries. Through close collaboration‚ our
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Business Law Tutorial 11 1. [ Refer notes - creation of agency ] 2. [ Refer notes - Duties of Agent to Principal ] 3. [ Refer notes - Duties of Principal to his Agent ] 4. 4 remedies available: Principal may repudiate the contract - Section 168 Contracts Act‚ 1950 Principal may recover the bribe from agent - Section 169 Contracts Act‚ 1950 Principal may refuse to pay commission to Agent Principal may dismiss agent for breach of duty 5. [ Refer notes - Termination
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Business Law I Assignment 3 Spring Term B BU 206-8A Instructor Problem 8-1 page 232 1). Consideration. Daniel‚ a recent college graduate‚ is on his way home for the Christmas holidays from his new job. He gets caught in a snowstorm and is taken in by an elderly couple‚ who provide him with food and shelter. After the snowplows have cleared the road‚ Daniel proceeds home. Daniel’s father‚ Fred‚ is most appreciative of the elderly couple’s action and in a letter promises to pay them $500
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Aspects of a Correctional Officer Katelynn Gregory 03/01/2015 CS204: Professional Presence Unit 7 Within the Department of Corrections correctional officers serve as the voice of authority. They ensure the safety of all inmates and making sure there welfare and well-being is good and being taken care of. These brave correctional officers break up violent confrontations‚ ensure order‚ and also help prisoners rehabilitate so they can be productive members of society. In 2013 there were
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have because they have to ensure the Health and Safety of their customers and employees is upheld to the highest possible standard. Firstly‚ the role of a director is important because they have to make sure they have someone that can manage all aspects of the company and they can make sure they can manage all the employees and guide them to completion of a successful job. The directors have a vital role in Debenhams management of Health and Safety because they have to make sure every employee is
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