...mortgage, so Joe put the house up for sale using Gail Bowers, an agent with RE/MAX Realty in Greenwood. Another agent, Sam Cole, with Greenwood Realty, brought Gail an offer on the house, but it was not high enough to cover all the debts. a) Why should Joe get a title search before he bought the house? When buying real property, the buyer should want a title search (inspection...
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...Aviation Law Module One Questions and Answers Describe how a federal agency, like the FAA, creates and enforces regulations being sure to discuss the enabling authority a federal agency derives from federal statutes. When the FAA proposes a new regulation or changes to an existing regulation, they issue a document known as a Notice of Proposed Rule Making (NPRM), Federal law requires virtually all administrative agencies and departments of the government to conduct their rulemaking operations in this manner. The law requires that once the NPRM has been issued there must be a period of time for comment and consideration of the new proposed regulation. After the comment period closes the FAA considers the comments from the public and those affected by the new regulation. Often times, comments from the industry and public have influenced the FAA to either change or abolish the propsed regulation all together. When the process has run its course, the FAA issue’s a Final Notice of Rule Making. This notice will set forth the final rule as it will be adopted and an effective date for it to take effect. Under the Code of Federal Regulations (CFR), Title 14-Aeronautics&Space, Part 13 Investigative and Enforcement Procedures, Subpart B-Administrative actions, the FAA may administer a “Warning Notice” which deals with the available facts and information about the incident or condition and shows that it may have been a violation. The FAA may also give a “Letter of Correction” that...
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...CHARACTERISTICS 7. ARTICLE 1868 8. DIFFERENCE CONTRACT OF SALE FROM CONTRACT / AGENCY TO SELL 9. REQUISITES CONCERNING OBJECT OF A CONTRACT OF SALE 10. WHEN AN OBJECT OF A CONTRACT OF SALE IS CONSIDERED “DETERMINATE?” 11. WHAT KINDS OF THINGS MAY BE OBJECTS OF A CONTRACT OF SALE? 12. WHAT IS CONTRACT FOR PIECE OF WORK? 13. CONTRACT OF BARTER 14. DISTINGUISH BETWEEN “CONTRACT OF SALE” FROM “CONTRACT OF BARTER” 15. WHEN IS PRICE CONSIDERED CERTAIN – ARTICLE 1469 / 1472 16. WHAT IS THE EFFECT IF THW PRICE IS FIXED BY ONE OF THE CONTRACTING PARTIES? 17. ARTICLE 1469, 1472,1473,1474 18. WHAT IS THE EFFECT OF “GROSS INADEQUENCY OF PRICE” IN A CONTRACT OF SALE? 19. • WHAT IS THE EFFECT OF “PRICE SIMULTATION” IN A CONTRACT OF SALE? 20. KINDS OF SIMULTATIONS 21. SALE BY AUCTION 22. WHAT ARE KINDS OF DELIVERY 23. DIFF. FORMS/KINDS OF CONSTRUCTIVE DELIVERY/OBLIGATION OF BUYER 24. WHAT IS “EARNEST MONEY” 25. ARTICLE 1483, 1484, 1489, 1490, 1491 26. ARTICLE 1493, 1494, 1495, 1497-1501 27. WHAT ARE THE KINDS 28. WHAT IS PUBLIC INSTRUMENT 29. WHAT ARE THE KINDS OF WARRANTIES 30. OBLIGATIONS OF BUYERS/ VENDEE 31. BREACH OF CONTRACT OF SALE/ OF GOOD 32. REMEDIES OF THE BUYER AS AGAINST THE SELLER IN CASE OF BREACH OF WARRANTIES 33. HOW IS CONTRACT OF SALE DISTINGUISHED? 34. WHAT ARE CONSIDERED EQUITABLE MORTAGE INSTEAD OF CONTRACT OF SALE 35. WHAT IS PACTO DE RETRO SALE? 36. ADVANTAGES/ DISADVANTAGES ...
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...Property Copyright - protects work, not idea (50 years) Patents - protects idea, not necessarily work (20 years) Trademarks - brands, symbols Fungibles - grain barrel, Bailment - one party looking at somebody etc. Sale of Goods Act - condition and warranties. Consumer protection - Basic Overview of Procurement forms Sarah Mamoser Procurement - when company goes and buys smth; not legal obligation to procur. Tendering cases - construction projects; Contract A procurement stage contract forms when materially compliant bid is submitted there can be multiple Contract A if the owner receives multiple compliant bids -act in good faith (can’t use undisclosed material) -they must accept the lowest qualified bid - can use privilege clause (the owner has privilege to not accept the lowest bid) Various forms in procurement: (request for expression of interest (RFEOI) Request for proposal - now frequently for construction law (RFP) - owner choose to cancel RFP anytime (e.g. too expensive etc). RFP less risk, but less certainty, b/e it’s not bound by a contract. Tenders/Request for quotation (RFQ) - process set out to be TRANSPARENT - be in trouble if say we wanted to choose u, but it was too expensive. How damages determined - Expectation damages - difference between price to do the work, and the price between.... Procurement process - procedures fair and transparent. Things u want to do when working with the lawyer: Consider objectives and expectations...
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...LEGAL ASPECTS OF BUSINESS Credit Units: 03 Course Objectives To give insight to various Legal Aspects of Business so that the students are able to interpret the provisions of some of the important laws and apply the same in commercial and industrial enterprises. Course Contents Module I: Indian Contract Act, 1872 Nature and kinds of Contracts, Concepts related to offer, Acceptance and Consideration, Principles Governing Capacity of Parties and Free Consent, Legality of Objects, Performance and Discharge of Contract, Breach of Contract and its Remedies,Special contracts of Bailment and Pledge, Indemnity and Guaratnee, Contract of Agency. Module II: Sale of Goods Act, 1930 Sale and Agreement to Sell, Hire Purchase – Pledge – Mortgage – Hypothecation Lease.Goods – Different types of Goods, Passing of Property in Goods, Conditions and Warranties, Doctrine of Caveat emptor, Rights of an unpaid Seller. Module III : Negotiable Instruments Act, 1881 Meaning of Negotiability and Negotiable Instruments – Cheques Bill of Exchange and Promissory Note – Crossing of Cheques – Endorsement – Dishonour of Cheques. Module VI: Company Law Companies Act, 1956-Meaning and types of companies, Formation of a company, Memorandum and Articles of Association, Share Capital and Shareholders, Prospectus and Issue of Shares, Buy Back of Shares, Debentures, Company Meetings and Proceedings, Powers, Duties, Liabilities of Directors and Winding up of Company. Module V: Indian Partnership...
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...contract must be genuine. If the consent is obtained by duress, undue influence, or faud, there is no real consent. 2. Writing & Form – certain contracts have to be in writing to be enforceable. Types of Contracts – Summary on pg 161-162 1. Bilateral Contract – an exchange of promises of the parties, “a promise for a promise.” 2. Unilateral Contract – Offer can be accepted only by the performance of the act by the offeree, “a promise for an act.” 3. Formal Contract – Requires a special form or method of creation. a. Negotiable Instruments b. Letters of Credit c. Recognizance d. Contracts under seal. 4. Informal Contracts – no special form or method is required for creation. EX: leases, sales contracts, service contracts. 5. Valid Contract – has 4 elements necessary to form contract, and is...
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...LAWS – BANKING Various Laws Affecting Bankers 1. RBI Act 1934 2. Banking Regulation Act 1949 3. Negotiable Instrument Act 1881 4. Indian Contract Act 1872 5. Indian Partnership Act 1932 6. The Companies Act 1956 7. Consumer Protection Act 1986 8. Banking Ombudsman Act 2006 9. Transfer of property Act 1882 10. Foreign Exchange Management Act 1999 11. Indian Stamp Act 1899 12. Code of Civil Procedure 1908 13. Banker’s book Evidence Act 1891 14. Information Technology Act 2000 15. Right to Information Act 2005 16. Recovery of Debt Due to Banks And Financial Institutions Act 1993 (DRT Act) 17. Securitisation & Reconstruction of Financial Assets and Enforcement of Security interest Act 2002 (SARFAESI Act 2002) Indian Contract Act 1872 Who is competent to contract – Sec 11 Every person is competent to contract who is of the age of majority according to the law to which he is subject and who is of sound mind and is not disqualified from contracting by any law to which he is a Subject A minor is a person who has not attained majority. According to Sec 3 of Indian Majority Act 1875, a minor is a person who has not completed 18 years of age. Where a guardian has been appointed by court (for minor’s person or property or both) , the minor attains majority on completion of 21 years. A contract with a minor is void ab-initio (Right from inception) ...
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...Property Outline 1. Concept of Property a. Res = a thing or object, a piece of property b. 6 theories used to Justify the private property system i. The Economic Theory 1. Private rights arise in property based on external cost factors seeking to maximize societal efficiency ii. The Occupation Theory 2. Occupation or Possession of a thing justifies legal protection iii. The Labor Theory 3. Moral right to ownership or control over things produced from one’s labor iv. The Contract Theory 4. Private property is a result of contracts between individuals and the community v. The Natural Rights Theory 5. “natural law” dictates the recognition of private property vi. The Social Utility Theory 6. The law should promote the maximum fulfillment of human needs and aspirations, and private property is on of those needs c. The Bundle of Rights (D.U.P.E.D) vii. Property consists of the following rights in regards to a “res” or thing 7. Right to Dispose of property (alienate/transfer) 8. Right to Use how you want 9. Right to Possess how you want 10. Right to Exclude others from your property 11. Right to Damages from others who violate your bundle viii. The more of the above rights that one has in regards to a res, the greater the significance of...
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...! College of Business Management Fall Semester 2009 Course Outline COURSE TITLE: Title: Business Law Code: LAW401 Credit Hours: 3 COURSE INSTRUCTOR: FAIZA AHMED AMIN COURSE DESCRIPTION This course will cover all the theoretical and practical aspects of Business, Commercial laws, keeping the current commercial scenario. COURSE OBJECTIVES • To develop an awareness of and an ability to understand both the common law and the statute in relation to contract, commercial, employment and business laws. • This course is aimed to benefit a manager working in a finance, marketing and HR environment. TEXT BOOKS AND REFERENCES: • N.D Kapoor: Elements of Mercantile Law • M.C Shukla: Mercantile Law GRADING & ASSIGNMENTS Evaluation Activity Mid-Term Exams Comprehensive Final Exams Quizzes/ Class participations 30 40 15 Points Evaluation Activity Assignments/ Presentations 15 Points There will be two sessions of 90 minutes each per week, which means 3 hours per week. Session No. 1 Topics Introduction: - Definition of Law - Types of Law - Distinction between main types Sources of Law - Holy Quran - Precedent - Legislation - Customs Judicial Systems of Pakistan Contract Laws in Pakistan - Types of Contracts - Essentials of a Valid Agreement Essentials of a Valid Agreement Offer and acceptance - Definition - Rules - Communication - Revocation Consideration Capacity Free Consent Lawful Object Dischargement of Contract 1st Mid Term Exams Remedies for Breach of Contract Lecture/...
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...6805 (during office hours only) EMAIL: jlgilles.levasseur@sympatico.ca TIME: TUESDAYS 19 h 00 – 22 h 00 OFFICE HOURS: 10 - 11 pm, every Tuesday nights PREREQUISITES: For students registered in B.Com., BIB or Minor in Business The School of Business enforces all prerequisites. COURSE PHILOSOPHY The purpose of the course Business Law in Canada consists in understanding the legal environment which has an impact on Canadian businesses. The course is divided in three parts. Part 1 deals with an overview of the Canadian legal environment. Part 2 deals with the legal forms of business and organisation. Part 3 part deals with the law of torts and the law of contracts. Part 4 looks at specific topics of law such as bailment, Sale of Goods, Interests in Land. Throughout the course, students are encouraged to focus on their personal or work experiences as they relate to the course material. All the course material assigned and learnt will be cumulative and students will be tested comprehensively on their understanding of the material at the end of the course. Students are prohibited from using any electronic devices to tape record classes, lectures or discussions and to use them during examination. REQUIRED TEXTBOOK There is one textbook required for this class: Duplessis et al., Business and the Canadian Law, 5th Edition, 2014, Nelson Education. COURSE EVALUATION Mid-Term 30 % (February 24, 2015) ...
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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 INDIAN CONTRACT ACT, 1872 The law relating to contract is governed by the Indian Contract Act, 1872. The Act came into force on the first day of September, 1872. It extends to the whole of India except the State of Jammu and Kashmir. The Act is by no means exhaustive on the law of contract. It does not deal with all the branches of the law of contract. Thus, contracts relating to partnership, sale of goods, negotiable instruments, insurance etc. are dealt with by separate Acts. What is contract? The term contract has been defined by various authors in the following manner: “A contract is an agreement creating and defining obligations between the parties”. —Salmond “A contract is an agreement enforceable at law, made between two or more persons, by which rights are acquired by one or more to acts or forbearances on the part of the other or others”. —Anson “Every agreement and promise enforceable at law is a contract”. —Sir Fredrick Pollock The Indian Contract Act has defined contract in Section 2(h) as “an agreement enforceable by law”. These definitions indicate that a contract essentially consists of two distinct parts. First, there must be an agreement. Secondly, such an agreement must be enforceable by law. To be enforceable, an agreement must be coupled with an obligation. A contract therefore, is a combination of the two elements: (1) an agreement and (2) an obligation. Thus Contract = Agreement +enforcement at...
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...1) The concept of flexibility in the law is best illustrated by: 2) The school of jurisprudence that believes that free market forces should determine the outcome to lawsuits is: 3) Which of the following is true about litigating commercial disputes? 4) A ___________ is a court appointed party who conducts a private trial and renders a judgement. 5) ________ is a form of alternative dispute resolution that is often used when the parties involved do not want to face one another. 6) Which form of alternative dispute resolution occurs when the parties choose an impartial third party to hear and decide their dispute? 7) The Double Diamond Dude Ranch is located in Montana and maintains a web site on the Internet Before the Internet, the ranch relied exclusively on word of mouth advertising The web site simply provides some general information and lists the ranch s phone number for reservations, but reservations cannot be made online The ranch has no other connections or presence outside of Montana Bob lives in Ohio and learned of the ranch through its web site Bob then spent a week as a paying guest at the ranch, but was injured when he fell off a horse Can Bob sue the dude ranch in Ohio state court? 8) What is the result of the effects on interstate commerce test? 9) If there is an area of interstate commerce that the federal government has not chosen to regulate, the states can: 10) The legal effect of the presence of a superceding event is that: 11)...
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...contract is the foundation of the civilized world. The law relating to contract is governed by the Indian Contract Act, 1872 (Act No. IX of 1872). The preamble to the Act says that it is an Act "to define and amend certain parts of the law relating to contract". It extends to the whole of India except the State of Jammu and Kashmir. The Act mostly deals with the general principles and rules governing contracts. The Act is divisible into two parts. The first part (Section 1-75) deals with the general principles of the law of contract, and therefore applies to all contracts irrespective of their nature. The second part (Sections 124-238) deals with certain special kinds of contracts, e.g., Indemnity and guarantee, bailment, pledge, and agency. The term contract has been defined by various authors In the following manner: "A contract is an agreement creating and defining obligations between the parties". -Salmond "A contract is an agreement enforceable at law, made between two or more persons, by which rights are acquired by one or more to acts or forbearances on the part of the other or others". -Anson "Every agreement and promise enforceable at law is a contract". -Sir Fredrick Pollock The Indian Contract Act has defined contract in Section 2(h) as "an agreement enforceable by law". These definitions resolve themselves into two distinct parts. First, there must be an agreement. Secondly, such an agreement must be enforceable by law...
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...ANNUAL REPORT 2013 COMMUNITY DRIVEN VISION To actively contribute in meaningful and sustainable ways to communities, families in need and other worthy causes. MISSION To provide support and assistance to these community-focussed initiatives, by engaging the collaboration of A.P. Eagers and its automotive industry network, employees and other stakeholders. OBJECTIVES • • To encourage and support engagement by A.P. Eagers and its stakeholders in these initiatives. To secure voluntary assistance through financial support, sponsorship, skills transfer and in-kind donations to worthy and well-run organisations and other causes. To deliver 100 cents of every dollar donated to the intended recipients. To operate with the highest standards of integrity. • • From its earliest days, the company has been community driven. Reaching out to a local hospital for their ‘hospital tag day’ in November 1912, company founders Messrs. E.G. Eager and Son lent motor cars to nurses and children who collected over £70 in their fundraising initiative. (STATE LIBRARY OF QUEENSLAND 125907) On behalf of A.P. Eagers, I would like to introduce you to the A.P. Eagers Foundation. For over a hundred years we have been proactive contributors to the communities in which we serve. Through our dealerships and other operations, we have led the way in supporting hundreds of worthwhile groups ranging from local charities, community service groups and schools to sporting clubs, health initiatives...
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