...It should be clear, promissory and capable of acceptance. Terms of contract can classified as conditions and warranties. Conditions terms are term of major importance which goes to the root of the contract. It entitles innocent party to terminate the contract and sue for damages. Warranties term is a subsidiary term of the contract. It will compensate the innocent party for any loss or inconvenience. It is a hybrid term, sometimes assuming the characteristics of a condition and at other times the characteristic of a warranty. Severity of breach of intermediate terms depends entirely on the legal consequences of the actual situation Breach occurs where a contract has come into being and one or other of the parties fails to perform all or some part of the obligations under it. There are four main remedies available to the wronged party: Specific performance, injunction, damages and restitution. CONTENTS I | Introduction | 2 | II | Terms | 2 | III | Conditions Terms | 3 | IV | Warranties Terms | 4 | V | Intermediate Terms | 5 | VI | Remedies | 7 | | (i) Specific Performance | 7 | | (ii) Injunction | 8 | | (iii) Damages | 8 | | (iv) Remoteness | 8 | VII | Appendices | 9 | VIII | Bibliography | 12 | *Student in Business Law at Victoria University, Melbourne, Australia. I INTRODUCTION The terms of a contract detail the promises made by each party to the contract to the other party. The terms can be classified as conditions, warranties...
Words: 4137 - Pages: 17
...Assignment Cover Sheet PLEASE NOTE THE DEADLINE FOR ALL BUSINESS SCHOOL COURSEWORKS IS 11.59PM Please ensure you complete both sections of the form and attach it all to the front of your work PART A – To be kept attached to coursework Family Name | | First Name | | Module Title | | Module Code | Wahid | | Akeel | | The legal environment of business and employment | | BFL0041 | Student Number | | Tutorial Group No | | Taught by (Tutors Name) / Supervisors Name | U1257644 | | D | | Jackie lane | Course | | Assignment Title | Accountancy and finance | | Contracts in business | Unless you have been notified otherwise, this coursework must be submitted through turnitin by 11.59PM on the given hand-in date.It is YOUR responsibility to print Assignment Coversheets for manual submissions. You are advised to keep a copy of all your assignments for personal reference. | | Word Count | | | | | 2235 | | | | | Date Submitted | | | | | 16/12/2012 | | | | | Date Due | | | | | 16/12/2012 | | | I confirm that this assignment is wholly my own work unless otherwise clarified and that I have read and understood the regulations in the context of academic misconduct. (please tick box) | yes | | Signed:………………. Akeel Wahid………………………………………………. | ------------------------------------------------- ONLY FILL THIS SECTION IN WHEN COURSEWORK HANDIN IS MANUAL PART B – To be kept in the Department Surname | | First Name |...
Words: 2879 - Pages: 12
...Global Marketing Environment Case 2 innocent Ltd: being good is good for business In a world of big commercial brands that promise to make you feel younger, look better or live longer, occasionally there are those that come along that try to be more grounded, more real and more authentic. A classic case in point was the Body Shop chain of cosmetic shops, which did not promise to reverse ageing or get rid of wrinkles but instead offered natural, authentic products and showed concern for the environment at the same time. innocent Ltd is a company in that mould. It has built a very successful business in the smoothie market by offering quality, fresh products and by behaving in an openly ethical manner. Its success has spawned a host of competitors and it now faces several challenges to its dominance of the sector. Company background innocent was founded in 1998 by three college friends—Richard Reed, Adam Balon and Jon Wright. In the summer of that year, the trio set up a stall at a small music festival in London. They started with £500 of fresh fruit and set up two bins, one with a ‘yes’ sign and the other with a ‘no’ sign. They also had another sign that asked customers ‘Should we give up our jobs to make these drinks?’ By the end of the festival, the ‘yes’ bin was overflowing and innocent Ltd was born. The vision of its founders, in the words of Richard Reed, was to be ‘Europe’s favourite little juice company’, and innocent set about making products that...
Words: 2413 - Pages: 10
...Terms and Exemption Clauses 1) Parol Evidence 2) Terms and Representation 3) Implied Terms a) In Fact b) In Law c) In Statute d) By Custom 4) Classification of Terms 5) Exemption Clauses: Incorporation a) By Signature b) By Notice c) By Previous Course of Dealing 6) Construction a) Contra Proferentem Rule b) Rule in Cases of Negligence Liability c) Doctrine of Fundamental Breach 7) Unfair Contract Terms Act (UCTA) a) Liability in Negligence b) Liability in Contract c) Sale and Supply of Goods d) Test of Reasonableness Parol Evidence Rule a) No extrinsic evidence (such as any oral agreement or statement) is admissible to add to, vary or contradict a written instrument or contract. b) Exceptions c) Contract was the result of mistake, a lack of consideration, or of misrepresentation d) Mistake in the written contract i) Joscelyne v Nissen (1970) e) Contract has not yet come into existence or that it is no longer in operation i) Maybe due to the occurrence or non-occurrence of a certain event by a certain date, which has been accepted verbally ii) Pym v Campbell (1856) iii) Obligation to buy shares in an invention was conditional upon a 3rd party approving the invention, of which the approval had not been received. f) Where extrinsic evidence demonstrates that a particular custom of trade must be implied to, and therefore become a part of, the written agreement...
Words: 6952 - Pages: 28
...Plan For A Product Of Innocent Drinks Marketing Essay The report describes the marketing plan for the repositioning of the product “This Water” offered by “Innocent Drinks”. Company was founded in 1999 and offers smoothies and flavoured spring water in Super markets, coffee shops, cinemas and other outlets in UK and other countries. Company has decided to re-launch its existing product “This Water” in the cinemas in the UK with the new name “This Water Plus”. This report covers the marketing plan and marketing strategies to reposition the product. The period for the marketing plan is set from 2nd January 2011 to 1st September 2012. All the effecting factors are consider while planning the plan including current world and specifically UK economic position after recession as UK economy is still in process to gain its recovery position. Innocent Drinks has improved the design and packaging of its product to make it more attractive and focused on the corporate social responsibility. They used recycled material for the packaging and also contributes portion of the profit towards charitable work. They have targeted the UK cinemas to offer this product. Innocent Drinks is a UK based company established in 1999 by three Cambridge graduates. Its main business is producing smoothies and flavoured spring water. Company sells its products in supermarkets, cinemas and coffee shops. It has branches in UK, France, Austria, Denmark, Amsterdam, Brussels and Germany. Company enjoys 71% of UK...
Words: 16623 - Pages: 67
...Nature of Law Sources of law: 1. Statute law laws crated by State and Federal Parliament 2. Common law courts and judiciary system 3. Equity expands remedies beyond monetary compensation Classification of law: * International v domestic * Public v private * Substantive (rights and duties under the law) v procedural (rules of evidence and conduct) * Common (parliament and courts) v civil (legal code) * Civil actions v criminal actions Origins of Australian Law: * 1865 Colonial Laws Validity Act NSW (AUS) can pass own laws as long as they don’t conflict with England laws * 1901 Federation 6 separate states become 1 Government * 1931 Statute of Westminster legislative independence. * 1986 Australia Act Final court of appeal became the High Court The Westminster System: * A constitutional monarchy * Separation of powers 1) The Parliament Legislative 2) The Executive Government 3) The Judiciary interprets the law Making a law: 1. Draftsman drafts a Bill 2. 1st, 2nd, 3rd reading in HOR 3. 1st, 2nd, 3rd reading in Senate 4. Governor General consent 5. Bill becomes an Act and become law The Judiciary: Rule of law a means of maintaining the balance between personal freedom and legislative power in a modern democracy. Role of the courts: Impose a legally binding decision on the parties to the dispute. Features of the court hierarchy: * Provides a system of appeals ...
Words: 5433 - Pages: 22
...the sale of goods Act (1979) and the supply of Goods and Services Act (1982) Implied terms is statutory legislation inserted into consumer contracts and provides basic provisions that are set forth to ensure that consumers are protected when purchasing goods or a service. These terms are not explicitly stated, meaning despite no mention of them still apply they. The Sale of goods act 1979 is a vital element in all consumer contracts, providing five crucial implied terms which are as followed; S12 Title. This gives the consumer the ability to become the legal owner and also the right to claim money back. The case of Rowland v Divall Stolen car highlights how this is applied to the law. It appears that this term is beneficial as it protects both parties throughout business transactions. However it may be suggested that S12 definition ‘enjoy quiet possession of goods’ is unclear as well as too vague allowing room to be exploited for fraudulent reasons. Section 13 Description is a breach warranty introduced by Sand Supply of GA 1994, its main purpose being to ensure that the description of a product accurately matches the actual item ultimately making the product is fit for purpose. This appears good as it protects innocent buyer//////////// This implied term distinguishes clearly between the buyer and seller providing understanding about the goods purchased by consumers’ as shown in the case of Harlingdon & Leinster Enterprises Ltd v Christopher Hull Fine Art Ltd (1990). However...
Words: 306 - Pages: 2
...Individual assignment 1. Through illustrative cases, examine the drivers of divestment from emerging markets. 2. Advise an established multinational or small-medium enterprise on an appropriate foreign market entry strategy Candidate Number : Word Count Examiner Place Degree Course Date : : : : : : 59552 2746 Professor Dr Joseph Amankwah-Amoah University of Bristol MSc Management International Business March, 2013 Table of Content I Table of Content I. List of Abbreviations ............................................................................................. II II. List of Tables ....................................................................................................... III 1. Introduction .......................................................................................................... 1 2. Structure of the Thesis ......................................................................................... 1 3. Divestment ........................................................................................................... 1 4. Divestment in India ............................................................................................... 3 4.1 Coca-Cola ...................................................................................................... 3 4.2 Recent Divestment Cases .............................................................................. 4 4.3 Lessons Learned ........................................
Words: 4867 - Pages: 20
...are Rescission, Restitution, Damages, Specific Performance, Injunction,Mareva Injunction, and Quantum Meruit. Rescission has been defined as the cancellation of contract between parties. It enables the innocent party to cancel off the contract when there is any misinterpretation by the other party. Misinterpretation is as the defence if the innocent party is sued for damages or specific performance by the other party. Under the Sale of Goods, the innocent party has the rights to cancel off the contract when there is a breach of implied condition as to title, correspondence with description, merchantable quality, fitness for purpose and sale by sample corresponding to those implied in contract of sale. Restitution is sometimes referred as quasi-contract. Quasi-contract is a contract created by courts. Quasi contract is actually not a legal contract but it is actually a legal substitute which is formed to impose equity between the two parties. It does not rely on the plaintiff, person who brings a case against another in a court of law, who is suffering from loss or damage. It will be very unfair if the defendant is allowed to retain the goods and services without payment. Damages are award which mostly will be money paid as a compensation for a loss or injury. The innocent party in the contract will receive monetary compensation for the breach of the contract from the party who is responsible for the...
Words: 5794 - Pages: 24
...Introduction To start the case salvation in a proper specified order, it is magnificently significant to elaborate the proper jurisdiction that has a great coverage with the precedential law or any provisions for the ground of the legal issues. Thus, as the presented case has an international volume, and also there need to be an interpretation of two totally different legal systems such as Civil law and Common law, moreover, it is advised to assume the Sunny airways from the civil country, particularly from France, due to the fact that ICC (International Chamber of Commerce) is located in the mentioned country that was designed to promote international investment, trade, services and remove the distortions and obstacles. Moreover, to develop principles that regulates fair and free competition amongst business enterprises. Additionally, it will be advisable to take England as a representative of the Cloudy Airways as Common law country, due to the fact that its legal history traces for long period and has experienced diverse kinds of disputes. In addition to all, some elements of the contract made by these two parties have been displayed to have a better image on what the parties’ duties and obligations are. Legal Issues: • There is a contract that was signed by the CEO of SA and the Head of Legal Department of CA that gives raise to the question of whether the representatives have a legal capacity to carry out an important agreement on the behalf of their real directors or...
Words: 1292 - Pages: 6
...TOPIC |SECTION, EXPLANATION |CASES | | |PARTNERSHIP |3 element of partnership (s.1) (s.2 (1)): | | | |1. Carrying on business (call ‘continuity’ test) |- Smith v Anderson (1880) | | | |Expression carrying on business implies a repetition of acts and excludes the case of an | | | |association formed for doing one act which is never to be repeated. | | | |- United Dominions Corp Ltd v Brian Pty Ltd | | | |Partnership Act itself provides for partnership for single undertaking (s.32b) in relation to| | | |definition of partnership: ...
Words: 1194 - Pages: 5
...Atiyah: Sale of Goods The Sale of Goods 11th ed Patrick S. Atiyah , John N. Adams , Hector MacQueen ISBN13: 9780582894082 Published: April 2005 Publisher: Pearson Higher Education £47.95 Buy Note: Cases linked in the text on the right are either to BAILII reports (where available) or the Wikipedia reference. Contract Text Contents 1. Introduction 2. The Contract of Sale 3. Terms of the contract 4. Exclusion Clauses 5. Title and Passing of Property 6. Retention of Title 7. Nemo Dat 8. Performance of the Contract 9. Remedies of the Seller 10. Remedies of the Buyer 11. Articles on Sale of Goods and Contract issues 12. Drafting Sale Contracts and specimen sale contract Sponsors Student Subscription Subscribe to the 2009 Weekly Law Reports & Receive All Parts for 2008 Free! That's just £90 (£96 overseas) for two years' worth of parts (standard UK subscription cost for 2009: £450). Contact: 0207 242 6471 Recent Case Law Cases on Sale of Goods and Contract 2009 - 2000 Statutes Sale of Goods Act 1979 Sale and Supply of Goods Act 1994 The Sale and Supply of Goods to Consumers Regulations 2002 Unfair Contract terms Act 1977 Factors Act 1889 Part III Hire Purchase Act 1964: ss.27 - 29. Companion Volume The Law of Contract Monday August 19th 2013 6. Terms of the Contract There are few formalities in...
Words: 29335 - Pages: 118
...Company Law for Business: Assignment 1 (i): Is the cat contract with Feline Fertility Pty Ltd enforceable? Your answer should include an analysis of the reason put forward by Lassie Ltd for terminating the contract. The area of law relating to this particular question is the Corporations Act 2001 section 124, which mentions the legal capacity and powers of a company, and section 125 (2), which refers to a company's objects within its constitution. As Lassie Ltd is a company, it is a separate legal entity, meaning it can enter into contracts in the same legal way a normal human being could. Lassie Ltd's constitution includes the objects clause stating that the company's activities are to be restricted to the breeding and selling of dogs and goods and services associated with dogs, this is why Lassie Ltd wants to terminate the contract. This objects clause does not prevent the company from entering into any contracts as the company can enter into any contract that it wants to as it is a separate legal entity. Despite the fact that Lassie Ltd broke its company constitution, the contract is still enforceable with Feline Fertility Pty Ltd due to the abolishment of doctrine of ultra vires. The abolishment of doctrine of ultra vires means a company cannot enter into contracts beyond their power and then later avoid their legal obligations on the grounds that they had no legal capacity to enter into the contract. Lassie Ltd knowingly entered into the contract to purchase 300...
Words: 2714 - Pages: 11
...3. Partnerships a. Definition: the relationship that exists between persons carrying on a business in common with a view of profit (section 1 Partnership Act 1892 (NSW) It is the pooling of resources in order to make profits persons • carrying on a business • in common, and • with a view of profit. • Persons — At least two persons are required to form a partnership. There is also a maximum number of partners: no more than 20.4 Certain professional partnerships, however, are excluded from this limitation Carrying on a business — A business is defined in the legislation as a ‘trade, occupation or profession’.6 The requirement that the partners be ‘carrying on a business’ suggests that there must be a continuity or repetition of trading activities. In common — People carrying on business together will only be partners in a partnership if they are doing so ‘in common’. Degiorgio v Dunn [2004] NSWSC 767没有doing so in common With a view of profit —the partners are carrying on the business together to make a profit. 如有疑问These partnership rules are: 1. Co-ownership of property does not of itself create a partnership. This means that if someone owns real estate with another person and shares in the rental income and/ or proposes to share in the profit upon sale of the property, they have not necessarily formed a partnership. 2. Sharing of gross returns does not of itself create a partnership. If two or more persons engage in a joint enterprise where they share the gross returns...
Words: 4013 - Pages: 17
...partner expulsion and liability to third parties or outsiders. Step 2: Discuss the Principles of Law Under Section 7(1) of Partnership Act 1895 WA, partnership refers to a structure where two or more persons in a business are acting in common with a view of profit. Partnerships can be formed formally by written agreement which contains the rights and obligations of the partners and facilitates the resolution of disputes within a partnership. However, if the agreement is deficient, Partnership Act will be referred for resolutions. Partnership can also be formed by oral agreement or implied by the conduct of the parties (Harris, Hargovan and Adams, 101-103). Partners in a partnership are in a fiduciary relationship which partners have the duty to act in good faith, including avoid conflicts of interests, not make private profits, not compete with the firm and not disclose confidential information. The rules related to interests, rights and duties of partners will be provided in the written or oral agreement. (Harris, Hargovan and Adams, 131). Nevertheless, they are all being determined based on the Partnership Act 1895 WA – Section 34. Under Section 35(1) of Partnership Act 1895 WA, to expel a partner from a partnership, the power of expulsion has to be stated clearly in the partnership agreement; otherwise, no majority of the partners can expel any partner (Harris, Hargovan and Adams, 138). Section 35(2) of Partnership Act 1895 WA...
Words: 1919 - Pages: 8
