parties making an offer and its acceptance by the other party. Both offer and acceptance create an agreement. In simple contract should first contain an offer made by one party to the other. What is an offer? As per Sec 2(a) of the contract act “When one person signifies to another his willingness to do or abstain from doing anything‚ with a view to obtaining the assent of that others to such act or abstinence is said to make a proposal”. The word offer of the English law
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by studying it or by being taught”. The word “understand” is defined: “to know the meaning of what someone is telling you‚ or the language‚ that they speak”. The keywords and some examples may help to show the differences. The most common example is the foreign language. You may say: “I have been learning English for 10 years”. You have a basic knowledge‚ but before 10 years you know nothing about the English language. If you say: “I understood English quite well.” means that you already have
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Without offer and acceptance there can be no contract and so it is essential that the law provides rules to identify what constitutes both an offer and an acceptance. An offer may be defined as a statement of willingness to contract on specified terms made with the intention that‚ if accepted‚ it shall become a binding contract. An offer may be express or implied from conduct. In many cases it is crucial to determine when and where a contract is actually formed and this too needs rules. In the vast
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Although merchant banking activity was ushered in two decades ago‚ it was only in 1992 after the formation of Securities and Exchange Board of India that it is defined and a set of rules and regulations in place. Today a merchant banker is who has the ability to merchandise that is‚ create or expand a need and fulfill capital requirements. I have given an overview about the financial markets and the role of merchant bankers in the growth of these markets. My project covers how the merchant banks
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A legally enforceable agreement‚ or a contract‚ can be broken down in to five elements; offer‚ acceptance‚ consideration‚ capacity to contract and intention to create legal relations. In this scenario there doesn’t appear to be an issue with capacity to contract and intention to create legal relations‚ so we can assume that they are both satisfied. The issues concerning this scenario are the concept of an offer‚ acceptance and consideration. When looking at the issues and assessing them‚ the objective
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The Merchant of Venice: A Tragicomedy Patricia Green INTRODUCTION Shakespeare in the High School Classroom The Merchant of Venice‚ by William Shakespeare‚ does not fit the conventional definitions of a tragedy or a comedy. It is categorized as a comedy‚ although one of the two distinct plotlines is a tragedy. This play is multi-faceted and is really a combination of two plays in one; therefore it lends itself well as a source for teaching different lessons in the high school classroom. This curriculum
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“America is the land of opportunities‚” is the cliche manifested in Jamaicans like me from parents‚ friends‚ and the media simultaneously. The profound amount of opportunities America has to offer attracted many people here including my family and I. I identified early on that if I wanted to be successful in life I would have to leave Jamaica in order to capitalize on the educational and future career opportunities in America. As my knowledge on the ideology of life and my understanding of who
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Consumer behavior chapter 1 - introduction In our ever-increasing global market‚ attention needs to be paid to the global consumer in order to identify who they are. Marketers and consumer behaviour researchers are constantly attempting to determine the similarities and the differences of the multifaceted global consumer. Some general theory about the sociological and psychological influences on consumer behaviour may be common to all Western cultures‚ but there are still strong regional consumption
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INTENTION to create legal relations (formal agreement where they expect the law to be involved) • CONSIDERATION (giving each other party something of value which underlies promise they are making) AGREEMENT: (bargain negotiated between two parties) Looking at it objectively: Standing outside the agreement‚ looking in as an outside observer. What do we think they have agreed? Smith v Hughes (1871) LR 6 QB 597 → court always objectively views the contract/agreement. Parties buy/sell new oats
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From ancient times‚ through to the Renaissance‚ friendship between two men was regarded as the highest form of social relationship‚ even surpassing that between a man and a woman in matrimony. This is portrayed through “The Merchant of Venice”‚ written by William Shakespeare which was written between 1556 and 1558. This platonic natured friendship is still portrayed in modern literature‚ but due to changed opinions because of the society in which it was written it is more subtle in expressions as
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