Ans: Section 2(h) of the Indian Contract Act‚ 1872 defines a contract as an agreement enforceable by law. Section 2(e) defines agreement as "everypromise and every set of promises forming consideration for each other." Section2(b) defines promise in the word: "When the person to whom the proposal ismade signifies his assent thereto‚ the proposal is said to be accepted. A proposalwhen accepted becomes a promise." From the above definition of promise‚ it is obvious that an agreement
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It is quite complicated to incorporate the GAAP criteria to the contract. The contact does not clearly identify what the $5‚000‚000 fee is for. One can imply that it provides PACE the exclusive rights to show these films in their own theatres. If that was the case then the $5‚000‚000 is realized when the contract is signed however $2‚500‚000 is earned at the time of signing the contract and the remainder is not earned until PACE uses these rights for six months. They will recognize it as revenue
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Research Paper Title 2008/9 ‘Termination of the contract as a remedy for breach of contract by the seller: a comparison between English law and the CISG.’ A Research Paper submitted to the University of Manchester for the Degree of LL.M Masters (International Business Law) in the Faculty of Humanities. School of Law ID#744178 April 2008/9 Declaration i. No portion of the work referred to in the research has been submitted
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ADVICE ON CONTRACTS ENTERED INTO BETWEEN MAJORITIES AND MINORS. AUTHOR: KATALILO JOY INTRODUCTION This paper is aimed at discussing contracts entered into between a majority and a minor. The discussion will centre on two scenarios whose facts are given below as follows: FACTS Scenario 1 A proprietor of a computing training school enters into a contract with one of his students. The student is below the age of 18 years at the time the
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cNATIONAL ECONOMICS UNIVERSITY‚ HANOI BTEC HND IN BUSINESS AND MANAGEMENT ASSIGNMENT COVER SHEET | | |NAME OF STUDENT |Pham Thi Thuy Trang | |REGISTRATION NO. |1013103214 | |UNIT TITLE |Common Law
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offeror’s actual meaning was otherwise. * Definition: indication by one person to another of his or her willingness to enter into a contract with that person on certain terms. The ‘offer’ must indicate a willingness by the offeror to be bound without further negotiation as to the terms of the proposed contract. * Offer creates in the offeree a power to create a contract by their unilateral action. * Whether a statement is an offer depends on whether the person to whom it is addressed would reasonably
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Contract Administration (EC305C) (2013-14) Assignment 1 Coursework Prepared for: Brian Price 27th February 2014 Contents 1.0 Professional Practice 2 2.0 Understanding the JCT IC Contract 2 3.0 Areas of conflict between the Contract Administrator and the Client 2 4.0 Difference in the relationship of the CA with the client and the contractor 5 5.0 Request for variation orders 6 6.0 The likely effects of the increase in the pit size 6 7.0 Data
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PSYCHOLOGICAL CONTRACT AND EMPLOYMENT RELATIONSHIP Harold Andrew Patrick Coordinator OB and HRM‚ Institute of Management‚ Christ University‚ Bangalore haroldpatrick@christuniversity.in Abstract Psychological contract refers to mutual unwritten expectations that exist between an employee and his/her employer regarding polices and practices in their organization. Psychological contract influences the job attitudes and performance of employees. This study is aims at developing a deeper understanding
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SVKM’S NMIMS SCHOOL OF LAW A PROJЕCT SUBMITTЕD ON COASTAL AND WATERWAY TRANSPORT CONTRACT IN INDIA IN COMPLIANCЕ TO THЕ PARTIAL FULFILLMЕNT OF THЕ MARKING SCHЕMЕ FOR TRIMЕSTЕR IV 2014-15‚ IN THЕ SUBJЕCT OF CONTRACT-II SUBMITTЕD TO FACULTY MS. NANDA PARDHEY FOR ЕVALUATION SUBMITTЕD BY:-KHUSHIL SHAH ROLL NO: - A052 COURSЕ: - B.A. LL.B. (hons.) DATЕ: - 9TH AUGUST‚ 2014 TIMЕ: - 4:00 RЕCЕIVЕD BY: - ………………….. ON DATЕ: - ……………………….. TIMЕ: - ……………………………. 1|Page 81001130058
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INTRODUCTION Contracts and agreements come into play in almost every aspect of life. The age of majority is different in various parts of the world. In Pakistan the person of 18 years is consideration major. Contract act requires that the contracting parties must be competent to contract. According to majority act. “A minor is a person who has not completed 18 years of age. Where a guardian of minor’s person or property has been appointed under the guardian and wards act or court of wards has
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