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 loss is decided by the Law Reform (Frustrated Contracts) Act 1943. Examples of frustrating events Destruction of the subject matter: Taylor v Caldwell 3 B &
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the rules provided‚ inter alia‚ that all members shall not‚ by reason of his membership‚ be under any financial liability except for payment of his annual subscription and any other sums due under or levied under the rules and by laws to the defendants. The plaintiff is an ordinary transferable membership. The plaintiff applied to become a member of the club by submitting the necessary application form and duly executed a declaration contained therein which states‚ inter alia‚ that he accepted and agreed
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Ngoc Diem s3245569 – Upload by RMIT Vietnam Helpdesk Team. INTERNET FOR BUSINESS REVIEW E-business Concepts & Implication 1. Explain the difference between e-business and e-commerce o E-commerce: All electronically mediated information exchanges with external stake holders. o E-business: All electronically mediated information exchanges both within the organization and with external stakeholders supporting the range of business processes. 2. Identify different types of sell-side websites
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Inc. **Contract Law Portion** There are two bodies of law that govern contracts; Article 2 of the Uniform Commercial Code and the common law of contracts. “The Uniform Commercial Code‚ or UCC‚ is statutory law in every state. The common law of contracts is court-made law that‚ like all court-made law‚ is in a constant state of evolution.” (Mallor‚ 2007) The UCC was created by the American Law Institute and the National Conference of Commissioners on Uniform State Laws to establish a uniform
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Question 1 Identify the various sources of Malaysian Law Written Law The sources of law consist of written law and unwritten law.In written law‚it have federal constitution‚state constitution‚legislation and subsidiary legislation. Federal Constitution Malaysia is a federation of 13 states with a written federal constitution . Article 4 of the federal constitution of Malaysia provides that the federal constitution is the supreme law of the country . The constitution is a unique expression of
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Bleeding Kansas is a term used to describe the period of violence during the settling of the Kansas territory. The period of violence in 1854 is called‚ "The Bleeding Kansas". The Missouri Compromise was overturned and became the "Kansas-Nebraska Act. This new act would let the residents decide whether the area would become a slave state or a free state. Of all the Union States Kansas suffered the most casualties because of the issues of slavery being divided. Free-state settlers and proslavery
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RMIT COMMERCIAL LAW LAW2442 Weekly Tutorial Problems Semester 1‚ 2014 Week 1: No tutorials‚ except for Monday tutorial groups There are no Commercial Law tutorials for the Tuesday‚ Wednesday and Thursday tutorial groups in week 1. However‚ for the Monday tutorial groups‚ Commercial Law tutorials start in week 1. This is to make up for the loss of the Commercial Law tutorials on Monday March 10 (in week 2) which is the Labour Day public holiday. Students
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vary depending on the particular circumstances of the company. To further complicate the matter‚ certain tax law requirements may sometimes impact company registration. Formation formalities: Memorandum of association Article of association Registration of memorandum and articles Alteration and addition to memorandum and articles Memorandum of Association Article 68 states that: ‘A company shall not be validly constituted under this Act unless a memorandum of association is entered
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Institute of Law CODE OF COMMERCE Commerce It is that branch of human activity‚ the purpose of which is to bring products to the consumer by means of exchanges or operations which tend to supply and extend to him‚ habitually‚ with intent to gain at the proper time and place in good quality and quantity. “Commerce” and “trade” are used interchangeably although the former is more commonly used in international dealings and the latter in domestic ones. (Pandect of Commercial Law and jurisprudence
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agent stands in a fiduciary relationship with the principal. According to Doolan (1981)‚ an agent must not allow a situation to occur duty to the principal conflicts with personal interest and he/she must act in good faith also. As has been argued‚ Doolan (1981) states that an agent is authorized by the principal to perform certain acts‚ for and on behlaf of the principal. According to Doolan (1981)‚ an agent is never required to perform an illegal act. The agent is not liable when failing to perform
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