there is binding contract between the two parties‚ Baldcure Ltd. and Gary Knudenut‚ and consequently whether Gary can sue under that contract. Rule A contract is a legally enforceable agreement between two or more parties. To be valid‚ a contract must comprise of the following elements: - agreement (offer + acceptance) - intention - consideration - capacity to contract - consent - legality In order to establish whether there is a binding contract between Gary and
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Part A A contract may be discharged or brought to an end at any time after formation and there are several ways in which this can happen. One party may avoid a contract – for example‚ for unconscionable conduct by the other; one party may terminate the contract before performance is complete – for example‚ for breach; or the contract may be performed to the satisfaction of the parties. The contract of sale that takes place at a supermarket checkout is for all purposes completed at the time
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Islamic Contract Law TYPES OF COMMITMENTS 1. Wa‘d – • • • – وunilateral promise One party binds itself to perform a function for another Does not normally create legal obligation Legal obligation is created: • • Genuine need of the masses – (ر Contingent promise ا س )رد ا ز ن ز ا إذ ا 2. Muwaa‘ada – ا ة • • • • – bilateral promise Two parties performing two unilateral promises on the same subject Use of two unilateral promises can lead to a forward contract‚ which
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CHAPTER 2: Nature and Effects of Obligations Art. 1163. Every person obliged to give something is also obliged to take care of it with the proper diligence of a good father of a family‚ unless the law or the stipulation of the parties requires another standard of care. (1094a) 3 kinds of prestations in obligations: • To give real (there is some physical thing which may be the subject of possession‚ the delivery of which completely discharges the obligation) • To do • Not to do
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[pic] UNIVERSITI TEKNOLOGI MARA DEPARTMENT OF LAW TEST 1 COURSE : BUSINESS LAW COURSE CODE : LAW 416 DATE : 17 OCTOBER 2012 (WEDNESDAY) TIME : 1 ½ HOURS INSTRUCTIONS TO CANDIDATES 1. This question paper consists of THREE QUESTIONS: Answer TWO (2) questions only (1 Question x 25 Marks = 25 Marks) 2. Do not bring any notes or reading material into the test hall. If you have ‘accidentally’ done so‚ please surrender the materials
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Contract Law Cases The Offer Meeting of minds: Clarke v Earl of Dunraven and Mount Earl: Yacht races. Letters sent in Communication (in writing‚ speech and conduct): Carlil v Carbolic Smoke Ball Co: pay back 100 if you get influenza. Deposit 1000 The Acceptance: Strictly in response to
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1 App Cas 554 has been criticised where ‘a valuable consideration‚ in the sense of the law‚ may consist either in some right‚ interest profit or benefit accruing to the one party or some forbearance‚ detriment‚ loss or responsibility‚ given‚ suffered or undertaken by the other’. Due to Angela falling ill‚ Nick accepts half the original amount of rent being payment of a lesser sum but the rule at common law being the rule in Pinnel ’s Case (1602) 5 Co Rep 117a‚ is that the payment of a lesser
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whether a valid contract was formed and who it was formed with. As Rick’s girlfriend didn’t buy the laptop and is under the age of 18 she wouldn’t be able to return the laptop as there has been no contract formed with her. However we can assume that her boyfriend is over the age of 18 and as he bought the laptop this means the contract was formed with Rick instead of Rick’s girlfriend. The type of contract that was formed with Rick was a standard form contract this is a type of a contract is a legally
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Tutorial 5 1. Naeve Soh‚ a diploma holder enters into an employment contract with a company as an accounting assistant. The working hours are 8am to 9pm daily except for Sundays and Public Holidays. The pay is $2100 per month. The market rate for a similar job is $3700 and employees in similar jobs in other companies work generally only from 8 am to 6 pm. After working for two months Naeve Soh feels all this is very unfair and wants to challenge it. (a) Assuming there is no statute prohibiting
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Assessment Question Ali had an antique motorbike which he decided to sell. He parked the motorbike on his front lawn with a sign " For sale- RM20‚000". Ah Chong‚ who saw the sign‚ said to Ali that he would be prepared to buy the motorbike for RM15‚000. Ali replied that the price is too low and suggested RM18‚000. Ah Chong responded by asking if Ali would be prepared to accept payment of the RM18‚000 in three monthly instalments of RM6‚000 each. Ali replied that he would not. Ali then added‚" Anyway
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