COMMERICAL LAW EXAM Agency Definition Agency may be defined as a relationship between the principal (P) and the agent (A) whereby A has the authority to create a legal relationship between P and the third party (T). The purpose of agency is that two people can enter a valid contract with one another without having to deal with each other personally. Instead‚ the contract or other transaction is brought about through A who when dealing with T acts or purports to act‚ on behalf of P. Authority
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Case Notes Question 1 Taylor v Provan (1864) 2 M 1226 Provan went to Taylor’s farm and offered to buy 31 cattle at £14 per head‚ but Taylor refused to accept less than £15. After trying unsuccessfully to purchase cattle elsewhere‚ Provan returned to Taylor’s farm the worse for drink and offered £15 per head‚ which was accepted by Taylor. Taylor later brought an action against Provan for the price of the cattle‚ and Provan claimed that he had been incapable‚ through intoxication‚ of entering
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Commercial law 09/09/13 There are 2 essays (50% each) no exam. The main focus are: goods acts‚ mains kind of dispute in transaction‚ property (real owner)‚ title‚ damages on goods or late delivery of the goods. I. Introduction: Definition of Contract of Sale of Goods‚ Formalities A) The sales of goods acts Goods Acts In Ireland‚ sales of good is contained is the sales of goods Act 1893. Act of the british Ireland. It was replaced by the sales of good act of 1980‚ which is
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Multi sport holdings ltd * Applications e.g. The burden of using helmets was significant * Conclusion e.g. there is no breach Law of Contract Terms of the contract * Express terms * Terms stated and agreed to by parties * In simple cases‚ terms stated in offer * Eg‚ $ reward for cat * Major commercial contracts require signs from both parties. * Contract contains most terms * But‚ only needs to be written when statute
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Contracts (C3‚ pg 58) |Nature of contract |- Legal relationship consisting of the right and promises constituting an agreement between the parties that give each party a legal | | |duty to the other and also the right to seek for breach of those duties | | |- Consensus ad idem (meeting of minds); what the parties agree on must be clear and unambiguous and parties must be ad idem. |
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for $490 would take delivery 7 days later. HERE THERE IS AN OFFER AND ACCEPTANCE... AGREEMENT IS PRESENT... IS THERE CONSIDERATION? YES‚ EXECUTORY. THERE IS AN EXCHANGE OF PROMISES... A BENEFIT FOR BOTH PARTIES – THERE IS ALSO INTENTION AS IT IS A COMMERCIAL AGREEMENT – EDWARTD V SKYWAYS - When Dim came to pay and collect the oven 7 days later‚ Siti refused to hand over the oven telling hthat the price was now $550. Dim called Siti a cheat and wants to sue her. SITI IS IN BREACH OF CONTRACT Advise
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of precedence and has two aspects: 1) definitional or substantial – the principle of law is found in the precedence called the ratio decidendi: the narrowest and necessary legal principle upon which a legal decision was based. This is the aspect of the case that binds future courts and must be followed. 2) Structural: what precedent cases must be followed. Rupert Cross wrote a book called “precedence in legal law” and described the structural component of the stare decisis as “every court is bound
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only used amongst others. Ie- adaptability‚ capability‚ type of work‚ sickness‚ performance‚ appraisals‚ qualifications‚ skills‚ disciplinary record. Volunteer redundancy- Be careful what you ask for! Obliged to consultation‚ don’t have to agree. Case law suggests three stage test: was the employee dismissed? if so‚ had the employer’s requirement for employees to carry out work of a particular kind ceased or diminished‚ or was it expected to cease or diminish? if yes‚ was the dismissal caused wholly
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Contract = an agreement between two or more persons which will be enforced by a court of law *Action for breach of contract is part of common (judge-made) law *Essence of contract law is to protect the bargain bw 2 parties *Must not engage in conduct that is misleading‚ unconscionable and unfair. 1. Formal contracts Contracts of record (court records) Contracts under seal (ie deeds‚ gratuitous comments) 2. Simple contracts In writing Evidenced in writing No requirements SIMPLE ROADMAP Intention
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Discussion Question 1. On 1 Jan 2009 a V and P entered a standard form contract for sale of property in SYD‚ with special condition that the “sale is subject to P completing the sale of his existing home in Brisbane by 1 June 2009” but no time for completion is specified and clause 29 of 2005 Standard Form is deleted. (Standard Form: completed with in 42 days of existing contract/ exchange of contract? Hence the qtn scenario means it’ll be deleted.) Is there a binding contract for SYD before
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