THE LAW OF BUSINESS ORGANIZATIONS CHAPTER 4 – Piercing the Corporate Veil Minne B Berkey v Third Avenue Railway Company Overview: This is a New York Court of Appeals decision in 1926 adjudicated by the legendary Justice Cardozo. In this seminal case on ‘piercing the corporate veil’‚ the Court of Appeals finds in favor of the Defendant‚ Third Avenue Railway Company. The Court holds that Third Avenue‚ the parent company of Forty-second Street Company‚ which operated a rail line upon which the
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Business Law Notes Definition of Law Definition of Law – A rule of civil conduct prescribed by the supreme power in a state‚ commanding what is right‚ and prohibiting what is wrong. Nature of Law Functions of Law - To maintain stability in the social‚ political‚ and economic system through dispute resolution‚ protection of property‚ and the preservation of the state‚ while simultaneously permitting ordered change. Law and Morals * Are different but overlapping; law provides
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"Leg" Review "Leg"‚ a short story written by Steven Polansky is a very interesting short story about how n accident on the baseball field can bring a father and son closer together. Through the short story the main character Dave suffers a terrible cut on his leg from sliding on gravel in baseball. He denies how bad it is and refuses to see a doctor about his severely damaged leg until his thirteen year old soon confronts him early in the morning. The boy in the story is very mean to his father
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2012 – OCTOBER SEMESTER 2012 STUDENT NAME: CHU THI HONG TUYEN ID No.: 2448481 BMLW5103 – BUSINESS LAW ASSIGNMENT Question 1 Discuss the enforceability of an agreement which lacks consideration. Using legal authorities (relevant statutes and cases) to support your discussion. Answer: A valid contract is an agreement made between two or more parties that creates rights and obligations that are enforced by law. What does the consideration mean? And what does it effect to the agreement? Consideration
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ii. Stakeholder One: Congress (Democratic Party) Since Democratic Party is the one who proposed this law‚ most Democratic senators supported the medical device tax law. Obviously‚ this law will make the implementation of Affordable Care Act become more easier. The Affordable Care Act will be successfully only when government has enough money. Moreover‚ although many medical device manufacturers asserted that this tax is harmful to their businesses‚ these senators think that this tax just a small
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Introduction: Contract law is come from a Latin phrase‚ which is pacta sunt servanda (pacts must be kept). Everyday‚ all of us make contracts. It can be a written contract if required‚ for example when buying a car. On the other hand‚ the most common of contracts can be and are made orally‚ like buying from the mini market. A contract intends to make a legal agreement between two or more people or businesses (called parties) that sets forth what the parties will or will not do. Thus‚ The law recognizes breach
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Executive Summary Various issues in the common law arise when agents make contracts on behalf of principals. Should a principal be bound when his agent makes a contract on his behalf that he would immediately wish to disavow? The tradeoffs resemble those in tort‚ so the least-cost avoider principle is useful for deciding which agreements are binding and can unify a number of different doctrines in agency law. In particular‚ an efficiency explanation can be found for the undisclosed-principal rule
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judiciary to apply statutory interpretation‚ to interpret words of a given Act‚ to give them an exact meaning and to give them legal effect. Statutory interpretation is an integral part of the court ruling process‚ as the role of a judge is to apply the law‚ not make it. When trying to establish Parliament’s intention within an Act‚ there are various aids available to help. Firstly‚ there are three approaches to interpretation. The first of these is the literal rule‚ where‚ according to Martin (2007)1
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decide whether make a contract or renew a contract with consumers. And also the insurance company wants to decide the price of the contract and terms and conditions of the contract on the basis of the information which is provided by the consumers. The law enforces a duty of disclosure on consumers when they are looking to take a new insurance cover or wants to renew the existing insurance cover. Insurance
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一方邀请另一方检验a statement’s validity 则这个statement通常不会被认为是term. 特别的‚若一方特别指出他的statement可信且不需被检验‚则这个statement通常会被认为是term * Written contracts (the parol evidence rule pp.178) 5. Implied terms (in law or in fact) * Terms implied in law: oblations imposed on certain commonly arising contracts 辨别方法：Has the law already defined the obligation or the extent of it? 可以当作先例为以后的case服务的 * Terms implied by the courts：两个要求 * 1) contract must be a defined type *
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