Ans: No‚ Mary is not contractually obliged to pay Duncan the $8000. In the given case‚ there are circumstances that make this contract voidable. It is seen that Mary was intimidated by the Duncan presence and immediately agreed the Duncan’s offer. It seems that Mary was under the undue influence (even if Duncan has not such intention) while she concluded the contract because Duncan has represented himself in such a way that has probability to influence the mind of ordinary person and actually affects
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Terms in a standard form contract Implied terms These are terms that are implied by acts of legislation. The acts to consider are: • Sales of goods act (1979) • Sales of goods and services act (1989) Express terms These terms are written down and agreed upon at the time of the contracts. They will fall into one of three categories: • Conditions (major terms) • Warranties (minor terms) • Innominate terms (not defined until broken) Impact of terms These specific terms are terms that can
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Contract Creation and Management - Nature of Agency LAW 531 June 18‚ 2012 Contract Creation and Management - Nature of Agency Successful contract creation is essential for two or more different parties to conduct business. A contract needs to be full of specifics and lacking in ambiguity‚ otherwise interpretations‚ based on needs and experience‚ can and will be made by both sides. One such area of potential ambiguity in a contract is that of agency. Agency is a relationship where a principal
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A contract is an agreement between two parties‚ each agreeing to do or forbear from doing something. A contract‚ if properly formed‚ is legally binding and all parties to a contract are required to perform their respective obligations under the contract‚ failing which legal action can be taken. A failure or refusal to perform one’s obligations under the contract will be called a "breach" of the contract. Contract breaches have wide ranging consequences both legal and practical to the parties to
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Introduction to Legal Studies and Basic Contract Law- Course Work Assignment Mrs Hyndley is the owner of two properties that she rents to students in the Belfast area. In January 2008 she asks her friend and next door neighbour Frederick‚ a local estate agent‚ to collect the rents from her tenants while she goes off on a 6 month round the world cruise. She does not discuss terms or payment with Frederick. However‚ Frederick agrees and does collect the rents. When Mrs Hyndley returns to Belfast
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The four basic elements of a valid contract are agreement‚ consideration‚ contractual capacity‚ lawful object. Objective theory of contracts is intent to enter into a contract. An example of this would be going to a car lot and say I will give you 5‚000 for this use car. This is a valid contract offer. I intend on purchasing the used car if the car lot is willing to sell the car for 5‚000. In the case of Pepsi vs. John Leonard objective theory doesn’t apply. Pepsi wasn’t truly offering the Harriet
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AND CONTRACT LEGAL STUDIES Table of Contents Introduction 5 The Common Law 6 The Law of Contract 6 The Rules of Offer and Acceptance 7 Electronic Communications 9 Contracts between Parties of different Nationalities 11 Intention to create Legal Relationships 12 Form and Consideration 13 Capacity to Contract 15 Consent of the Parties 15 Legality of Object 16 Content and Interpretation of Contracts 17 Breach of Contract 18 Liquidated Damages 19 Equitable Remedies 24 Discharge of Contracts 24 Modification
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Contract Creation and Management Johnny B Good LAW/531 April 30‚ 2012 Professor Law Contract Creation and Management This week assignment is to provide analysis on the Contract Creation and Management simulation provided in the University of Phoenix (UOP) materials website. The simulation involves two companies; Span Systems‚ a California-based custom e-banking software developer and Citizen-Schwarz AG (C-S)‚ a Stuttgart-based bank with revenues of over $20 billion. Through C-S’s regional
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disease‚ and in no ascertained case was the disease contracted by those using the carbolic smoke ball”.2 The advertisement went on to inform the reader that the Carbolic Smoke Ball company offered “£100 pound reward will be paid to any person who contracts the increasing epidemic influenza‚ colds or any disease caused by taking cold‚ after having used the ball three times daily for two weeks according to the printed directions supplied with each ball. £1‚000 is deposited with the Alliance Bank‚ Regent
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Proprietary versus Contract Security Tracy R. Williams SEC/320 September 18‚ 2012 Mr. Ted Zalewski Security Many types of security are in existents today‚ site or mobile patrol; loss prevention functions; special events security; in-house security functions and private investigations are some of the tasks. Choosing the right one for the needs of any establishment should be one of the ultimate goals of the business. This paper will focus on proprietary and contract security in particular
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