question1 What are the remedies available under the Law of Contract? Remedy is where the inured party enforce their rights or get a reward for a loss. It also means to achieve justice where legal rights are involved. There are many types of remedies and some of them may be ordered by court, granted by judgement, by agreement between two parties and operation of law. The remedies depend on the nature of the breach. The remedies available under the Law Of Contract are Rescission, Restitution, Damages
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CIVIL LAW REVIEWER TABLE of CONTENTS OBLIGATIONS Table of Contents Chapter II. Nature and Effect of Obligations93 I. Kinds of Prestations ............................93 II. Breach of Obligation............................94 III. Fortuitous Event (Force Majeure) .......96 IV. Remedies to Creditors ........................96 V. Usurious Transactions and Rules on Interest .........................................................97 Chapter III. Different Kinds of Obligations ..98
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Corpo 4th batch of cases (1) WESTERN INSTITUTE OF TECHNOLOGY, INC. vs. SALAS Facts: Private respondents, majority and controlling members of the Board of Trustees of Western Institute of Technology, Inc. were acquitted of the crimes of estafa and falsification of public document. The falsification charge was anchored on private respondents submission of the school's income statement for fiscal year 1985-1986 with the Securities and Exchange Commission reflecting therein the disbursement of corporate
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Chapter 1 Introduction to Law and Legal Reasoning TRUE/FALSE QUESTIONS A1. The stability and predictability of the law is essential to business activities. B1. An important function of the law is to provide jurisprudence. A2. Law is a body of enforceable rules governing relationships among individuals and between individuals and their society. B2. How judges apply the law to specific disputes may depend in part on their personal philosophical views.
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INTRODUCTION TO THE LAW OF CONTRACT DEFINITION A contract may be defined as a legally binding agreement or, in the words of Sir Frederick Pollock: “A promise or set of promises which the law will enforce”. The agreement will create rights and obligations that may be enforced in the courts. The normal method of enforcement is an action for damages for breach of contract, though in some cases the court may order performance by the party in default. CLASSIFICATION Contracts may be divided into two
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amount realized for the sale of his home was $200,000 in cash and two paintings, each valued at $50,000. Thus, his entire amount realized, consists of the total value, or $300,000. Determining the amount realized is only the first step in determining what income will be taxable to Melvin in 2004. Next, because the disposition of property (receiving value for the sale of a home) is a capital gain, the amount of Melvin’s basis in the property must be subtracted from the amount realized to determine
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Commercial Transactions: Complete Notes: MacDougall: 2010/2011 Term 1 • These notes are a compilation of my class notes and the course package. I also used Atiyah Sale of Goods Act for clarification at times. • The spelling and grammar below is atrocious, but I couldn't be bothered to fix it. • Good luck! Hopefully some of this is helpful. I. Introduction • This is mostly a common law course, since the SGA merely codifies as closely as possible the existent common law
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UNIT 05 ASPECTS OF CONTRACT AND NEGLIGENCE FOR BUSINESS ASPECTSA Table of Contents P1.1 THE ESSENTIAL ELEMENTS REQUIRED FOR THE FORMATION OF A VALID CONTRACT 2 Offer 3 Acceptance 4 Consideration 4 Capacity- Concept of Minor& Privity 5 Intent to create legal relation 6 P 1.2 DIFFERENT TYPES OF CONTRACT 7 P 1.3 DIFFERENCE BETWEEN CONDITIONS AND WARRANTIES 8 P 2.1ELEMENTS OF CONTRACT APPLIED FOR THE BELOW SCENARIOS 8 P 2.2 TERMS IN DIFFERENT CONTRACTS 9 P 2.3 THE EFFECTS
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principle in common as well as in Indian Law. Section 13 of the Indian Contract Act, 1872 clearly defines consent which says that: Two or more persons are said to consent when they agree upon the same thing in the same sense. For example a customer buys a food processor because the retailer has claimed that the product was made in France but actually the product was made in Taiwan or an instance where a patient signed a contract to pay large sum of money to a doctor for immediate surgery which was
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INTRODUCTION TO THE LAW OF CONTRACT DEFINITION A contract may be defined as a legally binding agreement or, in the words of Sir Frederick Pollock: “A promise or set of promises which the law will enforce”. The agreement will create rights and obligations that may be enforced in the courts. The normal method of enforcement is an action for damages for breach of contract, though in some cases the court may order performance by the party in default. CLASSIFICATION Contracts may be divided into
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