Statutory Interpretation (not examinable) • Literal Rule There are three (3) principles of law that can be applied to interpret the law, where the Literal rule can be applied and if absurdity exist either the Golden or the Mischief rule can be used. The Literal rule considers the law as what it says where the natural meaning of the words are used for interpretation; this can be depicted in the case Regina v Barrymore where the defendant was charged with the offence of wounding with
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acceptance under the same terms still don’t qualify as an acceptance Protection against Standard Form Contracts 1. If business is regulated by govt board, its terms are subject to approval 2. Some segments of the public are offered special protection i.e. consumers 3. For unregulated activity, the public receives as much protection as the courts can find in contract laws All terms binding?- if offeree convinces courts that she wasn’t aware of a certain term, then the offerer must prove that
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Chapter One: The Legal Environment 1. Business activities and the legal environment 2. Sources of American law 1) Primary sources of law * Constitutional law (The U.S. Constitution, state constitutions) * Statutory law ( federal statutes, state statutes, ordinances; uniform laws) * Administrative law (administrative agencies: federal, state, local) * Case law 2) Secondary sources of law * Books , articles 3. The common law tradition 1) Stare decisis
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Prestation - A debt is not understood to be paid unless the thing or service has been completely delivered or rendered. Partial or irregular performance will not extinguish the obligation. - In case of partial performance there is no payment under the law and the creditor can refuse payment. - Creditor has the right to refuse partial performance or not to pay it. 2.) Identity of the Prestation - The very prestation due must be delivered or performed. - When existence of a debt is admitted by the
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the values and beliefs of a society or its ruling group. 2. Primary sources of the Law include: The U.s. Constitution of the various states. Statues, or laws, passed by Congress and by state legislatures. Regulations created by administrative agencies, such as the Federal Trade Commission and the U.S. Food and Drug Administration. Case law (court decisions) 3. Common Law: the body of law developed from custom or judicial decisions in English and U.S. courts, not attributable
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MODULE -2 Business Organisations Notes 5 FORMS OF BUSINESS ORGANISATION ou have studied in the first lesson about the business, its significance and the classification of business activities. You are also aware that these activities are carried out by individuals in an organised form of a business house having different patterns of ownership and management. A single individual may own the business or a number of individuals may come together to own the business jointly. So, based on ownership
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Other Concepts 2 B.) Agency and Partnership Law 2 II.) INTRODUCTION TO THE CORPORATE FORM 16 A.) Formation and Structure 16 B.) Debt, Equity, and Valuation 22 III.) CONTROL OF CORPORATE DECISIONS 32 A.) The Role of the Shareholder 32 B.) Management Obligations 50 1.) Duty of Care 51 2.) Duty of Loyalty 56 3.) Duty of Fairness: Parent-Subsidiary Relationships 63 4.) Duty of Good Faith 64 5.) Management Obligations Under Federal Securities Laws 67 C.) Shareholder Litigation 76 IV.)
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Week Two: Individual Paper: Legal Forms Of Business with Supporting Scenarios Chanel Moore-Bass Law/531 Business Law March 19, 2012 Carmina Perez-Fowler, UOPX Faculty Online Week Two: Individual Paper: Legal Forms Of Business with Supporting Scenarios There are seven major forms of business: sole proprietorship (sole trader), partnership, limited liability partnership (LLP), and limited liability company (LLC), subsidiary or subchapter corporation (S), franchise, and corporate/company (C-
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MODULE - 1 Forms of Business Organisation Business Environment 3 Notes FORMS OF BUSINESS ORGANISATION 3.0 INTRODUCTION After identifying the business in any field e.g., Insurance, it is necessary then to have a legal entity to be known in the society. The legal entity can be in any form of a business organization. The various forms of organization are as follows: 1) Sole proprietorship 2) Partnership 3) Co-operative Society 4) Joint stock company (Private
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default. If the defaulting Partner fails to timely cure such default, the Partner that is then entitled to purchase the defaulting Joint Venturer’s share in the Partner may invoke, in addition to any other remedy at law, the sale of the defaulting Joint Venturer’s interest in the Business Cooperation as stated in paragraph 9.02. 10.02 Sale Notice. Sale Notice. Notwithstanding the written offer requirement of the selling Partner in paragraph 9.02, if the defaulting Partner fails to make the required
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