Intellectual property 100% 7 8 9 Personal property 100% 10 11 12 Real property 100% 13 14 15 100% 16 17 18 and capacity Remedies for breach of contracts Mislaid‚ lost‚ or abandoned property Concept: Agreement‚ consideration‚ and capacity Mastery 100% Questions 1 2 3 1. What is true about the acceptance of a contract? A. It is effective only once it has reached the offeror‚ whether or not it has been properly dispatched by the offeree. B. It must not support the mirror
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Background In 1994‚ an Austrian buyer and a Chinese seller agreed to a contract in which stated that the seller provide the buyer with 80‚000 units of scaffold fittings with accordance to the sample that was reviewed before the signing and have the goods delivered to the buyer ’s customer in England. When they arrived in England the buyer initiated an inspection with an independent inspection company as per the contract‚ and discovered that considerable part of the products did not conform to
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drought during the growing season‚ Millie ’s yield was much less than anticipated‚ and she could deliver only 250 bushels to Frank. Frank accepted the lesser amount but sued Millie for breach of contract. Can Millie defend successfully on the basis of outcome impossibility of performance? Explain” In contracts in which the performance depends on the continued existence of a given person or thing‚ an implied condition is that the perishing of the person or thing shall excuse performance. With
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uncitral.org/uncitral/en/uncitral_texts/sale_goods/1980CISG.html 1 of 3 UNCITRAL Home Contact Us Site Map Search United Nations Commission on International Trade Law عربي Home 中文 English Français Русский Español United Nations Convention on Contracts About UNCITRAL for the International Sale of Goods (Vienna‚ 1980) (CISG) Commission Documents Working Group Documents Colloquia Materials General Assembly Resolutions & Related Documents Text - Explanatory note Status UNCITRAL Texts & Status
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date was not stated in the contract. It can be treated as breach of warranty‚ stated in section 2 of SOGO‚ “in an agreement with reference to goods which are the subject of a contract of sale‚ but collateral to the main purpose of such contract‚ the breach of which gives rise to a claim for damages‚ but not to a right to reject the goods and treat the contract as repudiated.” Thus‚ warranties are lesser terms which do not go to the root of the contract. The remedy for a breach is an action for damages
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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 of Agency ] 6. (a) 3 conditions: It is impossible for the agent to get principal’s instruction
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INTRODUCTION By virtue of Section 11 of the Contracts Act‚ only persons who are of the age of majority according to the law to which they are subject are competent to contract. However‚ there are certain statutory exceptions to the rule that all contracts entered into by minors are void. These exceptions are found in the Age of Majority Act 1971 Contracts(Amendment) Act 1976‚ relating to scholarship agreements‚ and the Children and Young Persons(Employment) Act 1966. What is minor
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al Frustrated contracts A contract may be discharged by frustration. A contract may be frustrated where there exists a change in circumstances‚ after the contract was made‚ which is not the fault of either of the parties‚ which renders the contract either impossible to perform or deprives the contract of its commercial purpose. Where a contract is found to be frustrated‚ each party is discharged from future obligations under the contract and neither party may sue for breach. The allocation of
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Business Law – Outcome 2 (Law of Contract) Identify and describe the essential elements of a contract There are 3 essential elements in a contract: * There must be an agreement on all material aspects (Consensus in idem) Both or all parties in a contract must have the same understanding of all terms within the contract. To reach and consensus in idem‚ any acceptance must meet one of the offers made. If a party makes changes to the original offer then this is considered a conditional offer
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True/False Indicate whether the sentence or statement is true or false. ____ 1. When an obvious clerical error exists in a written contract‚ the contract may not be enforceable. ____ 2. If the subject matter of a contract turns out to be more valuable than one of the parties believed it would be‚ that party can rescind the contract. ____ 3. A fraudulent contract may be enforced by the innocent party. ____ 4. An act of concealment‚ with an affirmative misrepresentation‚ will not be sufficient
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