...Modes of extinguishment of obligations classified. Castan classifies the modes of extinguishing obligations in the following manner: (1) Voluntary: (a) Performance: 1) Payment; and 2) Consignation. (b) Substitution: 1) Dacion en pago (conveyance for payment); and 2) Novation. (c) By release agreement: 1) Agreement subsequent to the constitution of the obligation: a) Mutual waiver; b) Unilateral waiver; and c) Remission. 2) Agreement simultaneous to the constitution of the obligation: a) Resolutory condition; and b) Extinctive period. (2) Involuntary: (a) By reason of the subject: 1) Confusion; and 2) Death of the contracting parties in the cases where the obligations are personal. (b) By reason of the object: 1) Loss of the thing due or impossibility of performance; and (c) By failure to exercise (right of action): 1) Extinctive prescription. (see G. Florendo, The Law of Obligations and Contracts [1936], pp. 333-334, citing 2 Castan, Derecho Civil Español, 46-47.) SECTION 1. — Payment or Performance ART. 1232. Payment means not only the delivery of money but also the performance, in any other manner, of an obligation. (n) Meaning of payment. In ordinary parlance, payment refers only to the delivery of money. As a mode of extinguishing an obligation, it has a much wider meaning. Payment may consist of not only in the delivery of money but also the giving of a...
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...Law and its application for settlement of disputes (highlights on ADR) Lecture |Largely ADR | |Two categories | Informal & indigenous mode of ADR formal or court-annexed ADR (As old as the society itself) (Since the decades of 17th in USA) USA-since 1970s, public talk- against civil justice system because of excessive delay, expense, inflexibility and technicality In a speech in 1976, Warren Burger (CJ) of USA discussed with the problem of delay, high costs unnecessarily expenses and diminish the velue of the judgment. CJ made several suggestions –reform, including giving a greater role to ADR. He urged for “divert litigation to other channels”, particularly the channel of Arbitration. ‘Multi-door Courthouse’ Burger Harvard (law professor) Frank E.A Sander proposed that court be transformed into “dispute resolution centers”, in which ‘the grievance would first be channeled through a screening clerk who would then direct him to the process most appropriate to his types of cases. The ‘dispute resolution centers’ would have a separate room for screening, mediation, arbitration, fact finding, malpractice, a civil court and an ombudsman. ADR history in Bangladesh (To be traced two different view points) 1. History of informal (shalish) and quasi-formal (village court) ADR: Informal ADR is as old as the society itself. Shalish is a non-state justice system and a reformed version of shalish is being...
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...the principles apply to all kinds of contracts irrespective of their nature Special kinds of contracts – covered under section 124 to 138 ; These special contracts are Indemnity & Guarantee (u/s124 to 147), Bailment & Pledge (u/s148 to 181) and Agency (u/s 182 to 238) in Chapter X – refer next Module 2) Section 76 to 123 – repealed by Sale of Goods Act, 1930 (refer Module 4) • • Section 239 to 266 – Chapter XI has been repealed by the Indian Partnership Act , 1932 ( not being covered separately; but major issues under different modules) The act does not affect any usage or custom of trade (u/s 1) – these prevail if reasonable & not illegal; an unique feature of this Act – most important branch of business law Some of the contracts not dealt with by the this Act are those related to Partnership, Sale of Goods (refer module 4), Negotiable Instruments (refer module 3), Transfer of Property, Insurance etc – separate Acts Under Contract Act, the parties to a contract make the law themselves, lay down a number of rights and duties (not infringing legal prohibitions) which the law will uphold. Law of contracts is neither a whole of agreements nor the whole law of obligations. Some obligations do not arise out of agreements: a)...
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...Professional Paper “Trends in University Outsourcing” By: Mike Nieto May, 2008 About the author: Mike Nieto and has spent his entire adult career of nearly 20 years working in B2B outsourcing. During this time, Mike has been involved in many engagements which required analysis, recommendations, implementation including mail, copy and print-shop redesign, build outs, consolidations and metrics tracking of implemented outsourced client operations. In charting our course for the development of our Professional Paper; “Trends in University Outsourcing”, we found the dramatic changes and pressures that exist today in education require significant resources and greater core focus to achieve University overall objectives. The dynamics of the education system have changed significantly and there are far greater challenges that are no longer just national but global in scope. Extrapolated from A Report of the Commission Appointed by Secretary of Education Margaret Spellings, Pre-Publication Copy September 2006, titled; A test of leadership charting the future of US higher education, provided the following insights on some of the challenges which require the consumption of significant resources and consequently a need to focus on your core business: 1) Where once the United States led the world in educational attainment, recent data from the Organization for Economic Cooperation and Development indicate that our nation is now ranked 12th among major industrialized countries in higher...
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...Mailed on 23/12/13 BRIEF DISCUSSION ON CONTRACT ACT- 1872 According to Section 2 (h) of the Indian Contact Act, 1872, "A contract is an agreement enforceable by law”. A contract therefore, is an agreement the object of which is to create a legal obligation i.e., a duty enforceable by law. From the above definition, we find that a contract essentially consists of two elements: (1) An agreement and (2) Legal obligation i.e., a duty enforceable by law. As per section 2 (e) "Every promise and every set of promises, forming the consideration for each other, is an agreement." Thus it is clear from this definition that a 'promise' is an agreement. Section 2 (b) states that "When the person to whom the proposal is made signifies his assent thereto the proposal is said to be accepted. A proposal, when accepted, becomes a promise." An agreement, therefore, comes into existence only when one party makes a proposal or offers to the other party and that other party signifies his assent (i.e., gives his acceptance) thereto. In short, an agreement is the sum total of 'offer' and 'acceptance'. Example, A promises B to sell his horse for Rs. 10,000/-. The Law of Contract deals with such promises which create legal obligations. This excludes those promises made in common life which may be morally binding but creates no legal binding. Promises which do not give rise to legal obligations are not contracts. For example, if A promises B to attend the dinner and fails to attend then...
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...CONTRACTS Stages in the life of a contract: 1. Preparation/Generation 2. Perfection/Birth 3. Consummation/Death Characteristics of Contracts: (ROMA) 1. Relativity (Art. 1311) 2. Obligatoriness & Consensuality (Art. 1315) 3. Mutuality (Art. 1308) 4. Autonomy (Art. 1306) Stipulation pour Autrui - stipulation in favor of a 3rd party. Requisites: 1. The stipulation must be part, not whole of the contract; 2. the contracting parties must have clearly and deliberately conferred a favor upon a 3rd person; 3. the 3rd person must have communicate his acceptance; 4. neither of the contracting parties bears the legal representation of the 3rd party. General Rule: Contracts (except real contracts) are perfected from the moment there is a manifestation of concurrence between the offer and the acceptance regarding the object and the cause. Except: Acceptance by letter or telegram which does not bind the offerror except from the time it came to his knowledge. Theories applied to perfection of contracts: 1. Manifestation theory - the contract is perfected from the moment the acceptance is declared or made; 2. Expedition theory - the contract is perfected from the moment the offeree transmits the notification of acceptance to the offerror; 3. Reception theory - the contract is perfected from the moment that the notification of acceptance is in the hands of the offerror; 4. Cognition theory - the contract is perfected from the moment the acceptance comes to...
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...Integrated Company Analysis Group A12 John Faustgen Murali Maddipatla Spencer Morse Topher Stephensen Hanjin Yu Table of Contents Company Introduction......................................................................................................................................... 1 Executive Summary .............................................................................................................................................. 1 Current Issues ......................................................................................................................................................... 1 Marketing Analysis ............................................................................................................................................... 2 The Target Segment .................................................................................................................................. 2 The Positioning Strategy ........................................................................................................................... 3 The Product Strategy................................................................................................................................. 3 The Promotion Strategy ............................................................................................................................ 4 The Distribution Strategy .............................................................................
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...CONTRACTS Stages in the life of a contract: 1. Preparation/Generation 2. Perfection/Birth 3. Consummation/Death Characteristics of Contracts: (ROMA) 1. Relativity (Art. 1311) 2. Obligatoriness & Consensuality (Art. 1315) 3. Mutuality (Art. 1308) 4. Autonomy (Art. 1306) Stipulation pour Autrui - stipulation in favor of a 3rd party. Requisites: 1. The stipulation must be part, not whole of the contract; 2. the contracting parties must have clearly and deliberately conferred a favor upon a 3rd person; 3. the 3rd person must have communicate his acceptance; 4. neither of the contracting parties bears the legal representation of the 3rd party. General Rule: Contracts (except real contracts) are perfected from the moment there is a manifestation of concurrence between the offer and the acceptance regarding the object and the cause. Except: Acceptance by letter or telegram which does not bind the offerror except from the time it came to his knowledge. Theories applied to perfection of contracts: 1. Manifestation theory - the contract is perfected from the moment the acceptance is declared or made; 2. Expedition theory - the contract is perfected from the moment the offeree transmits the notification of acceptance to the offerror; 3. Reception theory - the contract is perfected from the moment that the notification of acceptance is in the hands of the offerror; 4. Cognition theory - the contract is perfected from the moment the acceptance comes to...
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...LAW * any rule of action (state law, divine law, natural law, moral law) or any system of uniformity (physical law) * determines not only activities as rational beings but also the movements of all objects of creation, animate or inanimate GENERAL DIVISIONS 1.) Law which is promulgated and enforced by the state * State Law—also called positive law, municipal law, civil law, imperative law ; enforced by the state with the aid of its physical force ; does not concern itself w/ violations of the other rules of action unless they also constitute violations of its commands. 2.) Law which is not promulgated and enforced by the state * Divine Law—law of religion and faith ; concerns itself with the concept of sin and salvation ; promulgated by means of direct revelation ; sanction is through reward and punishment * Natural Law—the divine inspiration of sense of justice, fairness and righteousness by internal dictates of reason alone ; basic understanding of right and wrong dictated his moral nature ; reasonable basis of state law * Moral Law— is the totality of the norms of good and right conduct from the collective sense of every community ; no definite legal sanction but induces social reaction, either positive or negative ; not absolute, but varies from time to time ; influences or shapes state law * Physical Law—nothing more than an order or regularity in nature by which certain results follow certain causes CONCEPTS General— the mass of...
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...McDonald’s Value Chain Analysis Jeovani Zamarripa, Alicia Wylie, y Jason Flores, Conor Mullarkey Mission Statement “McDonald's brand mission is to "be McDonald s be our customers' favorite place and way p to eat." Our worldwide operations have been aligned around a global strategy called the Plan to Win centering on the five basics of an t i th fi b i f exceptional customer experience – People, Products Place, People Products, Place Price and Promotion. We are committed to improving our operations and enhancing our customers' experience.” Company History McDonald s McDonald’s Bar-B-Que (1940) • World’s 1st McDonald’s • Founded by Dick and Mac McDonald • San Bernadino, CA • D i i & car hop service Drive-in h i McDonald’s (1948) •N Name F Formulates l • Menu develops • 15 Cent hamburger Company Info • Corporate Headquarters: p q – McDonald’s Corporation 2111 McDonald's Dr Oak Brook, IL 60523 • Employees: – Approximately 400,000 McDonald s employees globally McDonald’s – 1.6 million people globally are employed through McDonald’s restaurants and their franchises • Restaurants: – 32,000 world-wide, 118 countries 2009 Revenue & U.S. Stocks k (US only) • NYSE: MCD – Current Price: $64.74 – Change: $0.26 + g (As of 2/16/2010) • • • • 2009 Revenue (mil.)$22,744.701 Year Revenue Growth -3.3% 3 3% 2009 Net Income (mil.)$4,551.001 Year Net Income Growth 5.5% Y N tI G th 5 5% Leadership James Skinner Vice Chairman, CEO Left to Right: Jose...
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...Common Law 1. One can end the employment relationship at any time for any reason a) Either party can terminate at any time C. Exceptions 1. Limited statutory exceptions to employment at will 2. Unions a) If in one, may only be fired for just cause under labor K Wrongful Discharge Cause of Actions A. Common Law 1. Can’t order reinstatement if employees are fired and they sue for breach of K 2. Reinstatement is a traditional remedy only under statute B. California Causes of Action 1. Generally a) Tort claims—get damages including emotional distress, punitive damages. 1) Can’t get those through breach of K 2) Easier to find a lawyer to take case under tort claims b) Whistle blowing 1) Under statute, must complain to a govm’t official, not just internally c) Affects private employees 1) Public employees can’t be deprived of their jobs without due process and just cause 2. Discharge in violation of public policy a) Employee can have tort action if fired in violation of public policy b) Must be fundamental public policy violated, or policy tethered to a statute c) SOL—one year 3. Implied/Express K a) May sue for breach of K if companies behavior gives implied promise that he can only be...
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...R Y S Y S T E M AGENDA • Definition • History • Fixed Vs. Floating • Coalitions • Roadmap • Q&A DEFINITION • Sets of internationally agreed rules, conventions and supporting institutions, that facilitate international trade, cross border investment and generally the reallocation of capital between nation states. H I S T O R Y O F T H E M O N E TA R Y S Y S T E M Gold Standard 1870 1944 Nixon Shock 1971 1976 Bretton Woods Jamaica Agreement T H E G O L D S TA N D A R D T H E G O L D S TA N D A R D • When International trade was limited in volume, payment for goods purchased from another country was made in gold or silver. • As the volume of international trade expanded in the wake of the Industrial Revolution, a more convenient means of financing international trade was needed. T H E G O L D S TA N D A R D • The solution adopted was to arrange for payment in paper currency and for governments to agree to convert the paper currency into gold on demand at a fixed rate. = T H E G O L D S TA N D A R D • 1880: Most of the world’s trading nations including Great Britain, Germany, Japan, and USA adopted the Gold Standard. • Given the Gold Standard, the value of any currency in units of any other currency was easy to determine. T H E G O L D S TA N D A R D • The Gold Standard acts as an adjustment mechanism, which achieves the Balance-of-Trade Equilibrium. T H E G O L D S TA N D A R D 1870 ...
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...Q. What is a general offer? How is a contract created through general offer? Refer to leading cases. An offer may be made to the world at large. Such an offer is a general offer. However, a contract is not done with the whole world but only with the person who comes forward and accepts the offer. The acceptance might be express or implied. As per Anson, "An offer need not be made to an asertained person, but no contract can arise until it is accepted by an ascertained person". Case of Carllil vs Cabolic Smoke Ball Company. Creation of the contract - If the person performs the conditions of the offer. Thus, a person who finds a lost dog fulfills the condition of the prize money and thus a contract with the owner of the dog is created. General Offer of Continuing Nature - Some offers such as finding a lost object close when it is accepted by the first person. However, some offers, such as in the Carllil case, it can be accepted by any number of persons until the closing date of offer or until it is retracted. Q. Describe the law relating to communication of proposals, their acceptance and their revocation. Section 2(a) of Indian Contract Act 1972 says that when a person signifies his willingness to do or to abstain from doing something to another, with a view to obtaining the assent of that another, he is said to make a proposal. Further, section 2(b) says that when the person to whom the proposal is made signifies his assent, the proposal is said to be accepted. The important...
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...THE RENATIONALIZATION OF YPF UNDER INTERNATIONAL LAW; A CASE STUDY Nina van Limburg Stirum Brouwersgracht 48-1, 1013GX Amsterdam 0621500446 Ninavls@hotmail.com 10127305 Bachelor essay supervisor: Jim Mathis Contents THE RENATIONALIZATION OF YPF UNDER INTERNATIONAL LAW; A CASE STUDY Introduction 3 Chapter 1: Expropriation and Nationalization in general 3 Chapter 2: Nationalization under international law 5 1: Public Purpose 6 2: Discrimination 7 3: Due Process 8 4: Compensation 9 Investment Treaties 9 Chapter 3: YPF; Yacimientos Petrolíferos Fiscales 13 Short history 13 April 2012 14 Chapter 4: Nationalization of YPF under international law 15 Access to the ICSID 17 Application of the law 18 Ad. 1: Public interest 18 Ad. 2: Discriminatory measures 19 Ad. 3:In accordance with the law (Due process) 20 Ad. 4: Adequate compensation 20 Conclusion 23 Bibliography 24 Introduction On the 16th April 2012 Argentine president Cristina Fernandez de Kirchner stated that her government was going to renationalize 51 per cent of the 58 per cent share of Yacimientos Petrolíferos Fiscales (YPF) owned by Repsol. YPF is the biggest Argentine oil company, since 1999 partly owned by the Spanish multinational Repsol. After months of negotiations the Argentine government accused Repsol of not investing sufficiently in YPF to maintain or recover reserves. Due to Repsol’s alleged neglect towards YPF the country...
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...Service Improvement (CSI) model? a) What is the vision? b) Did we get there? c) Is there budget? d) Where are we now? 2. What is the RACI model used for? a) Documenting the roles and relationships of stakeholders in a process or activity b) Defining requirements for a new service or process c) Analyzing the business impact of an incident d) Creating a balanced scorecard showing the overall status of Service Management 3. What is the main reason for establishing a baseline? a) To standardize operation b) For knowing the cost of services provided c) For roles and responsibility to be clear d) For later comparison 4. Which of the following is NOT an objective of Service Operation? a) Through testing, to ensure that services are designed to meet business needs b) To deliver and support IT services c) To manage the technology used to deliver services d) To monitor the performance of technology and processes 5. Which of the following statements is CORRECT about patterns of demand generated by the customer’s business? a) They are driven by patterns of business activity b) It is impossible to predict how they behave c) It is impossible to influence demand patterns d) They are driven by the delivery schedule generated by capacity management 6. Which of the following is NOT one of the ITIL core publications? a) Service Optimization b) Service Transition c) Service Design d) Service Strategy 7. Which of the following statements is CORRECT? ...
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