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  • Duty Of Good Faith Performance Obligation
    7,551 words
    Lender Liability and the Duty of Good Faith. Introduction From time to time, lenders and their attorneys announce that lender liability is no longer an issue with which the lending community needs to be concerned. What usually prompts this proclamation of the death of lender liability is a recent case in which a court has summarily rejected a borrower's claim that the lender violated the duty of good faith and fair dealing. Many courts have rejected borrowers' lawsuits which are based on allegat...
  • Law Of Contract As Private Justice
    1,274 words
    Contract law- The Doctrine of privity. The law of contract is not about only private justice or public regulation; it is clearly concerned with a combination of both of these aspects of contract law in a number of ways. I will discuss this point in relation to the debate concerning privity of contract and whether a third party beneficiary of a contract should have a cause of action against the promisor. The general rule or doctrine, of privity in contract is that only parties to a contract, henc...
  • Age Discrimination In Employment Act
    1,609 words
    Agency law - is concerned with any "principal"-"agent" relationship; a relationship in which one person has legal authority to act for another. Such relationships arise from explicit appointment, or by implication. The relationships generally associated with agency law include guardian-ward, executor or administrator-decedent, and employer-employee. The law of agency is based on the Latin maxim "Qui facit per album, facit per se", which means "he who acts through another is deemed in law to do i...
  • Section 2 703 On Seller's Remedies
    5,057 words
    Contracts Syllabus Outline for Lon L Fuller and Melvin Aron Eisenberg (American Casebook Series) 5th edition. R 1: K defined A K is a promise or a set of promises for the breach of which the law gives a remedy R 17: Requirement of a Bargain Except as otherwise provided, the formation of a K requires a bargain in which there isa consideration R 71: Requirement of Exchange To constitute consideration, a performance of a return promise must be bargained for Dougherty Pillars Note on Gifts Note on G...
  • Binding Arbitration Clause In An Employment Contract
    602 words
    First off, I do not think that binding arbitration clauses should ever restrict the arbitration to only one group of people (ex. Home builders association). If there ever is a situation in which a binding arbitration clause is acceptable, there should at least be a choice of who the arbitration is and the choices should be neutral parties (ex. In the BP credit card bill stuffer, it gave the option of the American Arbitration Association, JAMS, and the National Arbitration Forum). I do not think ...
  • Important To The Understanding Of Contract Law
    361 words
    1. The importance of a contract law to the private market system is vital for our private enterprise economy. It helps make buyers and sellers willing to do business together. Contract laws allows private agreements to be legally enforceable. Contract laws provides enormous flexibility and precision in business dealings. It provides flexibility in that you can agree to literally anything that is not illegal or against public policy. It gives precision in that with careful thinking you can make a...
  • Pre Registration Contract Against The Company
    1,591 words
    The common law view of pre-registration contracts was that the company did not exist for legal purposes until it had been formally incorporated (registered). This common law view resulted in company's being unable to enter a binding contract until they had been registered. However "given the delays which can be encountered in the registration process, the promoter of a company may wish to enter into contracts 'for' the company prior to its incorporation". An example of this may be a promoter wan...
  • Limiting Tangible Risks Managing Litigation
    6,622 words
    REDUCING THE RISK OF LITIGATION AND LITIGATION COSTS IN THE UNITED STATES " Lawsuit, n. a machine which you go into as a pig and come out as a sausage. ' Ambrose Bierce (1842 -- c 1914) Litigation is like coming down with the common cold. There are things we can do to lower the risks: we can take vitamins, wash our hands and stay out of drafts, but we can't altogether eliminate the prospect of catching one anyway, although if this should happen, we hope that because of our actions, it will be le...
  • Result Of The Breach Of Contract
    1,040 words
    A contract is an agreement between two parties. Contract law is the main area which building contracts are administered. The legal aspect of a building contract is contained in written conditions either of a general or special nature. The two parties agree to work within the conditions set down and are obliged to adhere to them or suffer penalties which are either stated within the contract or which are implied by the nature of the contract. Contracts of this nature are legally binding on both p...
  • Reciprocal Agreement Purchase Contract 3
    1,780 words
    Listing Agreement (now called a service provisions agreement) 1. A type of employment agreement between a principal and a agent 2. It authorizes the broker to try to find (procuring cause) a ready, willing and able buyer on terms acceptable to the seller. Parties 1. Seller is the principal 2. The broker is the agent 3. Salespeople are the sub-agents of the seller 4. Cooperating broker is the agent of the listing broker and the sub-agent of the seller 5. Salespeople in the cooperating brokers off...
  • Option To The Guilty Party
    906 words
    Remedies for breach of contract Contrary to what most people might think, the solution for breach of contract is not designed to punish the guilty party, instead it is to protect and preserve the rights and reasonable expectations of the party seeking reimbursement. The purpose of the contract law is that in the event of one party not fulfilling their obligation towards the other party, the party harmed will be compensated for its losses. In most cases the standard solution for breach of contrac...
  • Parties To An Illegal Contract
    1,145 words
    Contracts contract is an agreement that is enforceable by law. Modern business could not exist without such contracts. Most business transactions involve commitments to furnish goods, services, or real property; these commitments are usually in the form of contracts. Use of the contract in business affairs ensures, to some extent, the performance of an agreement, for a party that breaks a contract may be sued in court for the damages caused by the breach. Sometimes, however, a party that breaks ...
  • Mother Embryo Pregnancy Contract
    2,708 words
    Sam Vaknin's Psychology, Philosophy, Economics and Foreign Affairs Web Sites The issue of abortion is emotionally loaded and this often makes for poor, not thoroughly thought out arguments. The questions: "Is abortion immoral" and "Is abortion a murder" are often confused. The pregnancy (and the resulting foetus) are discussed in terms normally reserved to natural catastrophes (force majeure, in legal lingo). At times, the embryo is compared to cancer: after all, they are both growths, clusters ...
  • Property And Licensee
    1,243 words
    1. DEFINITIONS 1.1 "Licenser" shall refer to Joe Prize. 1.2 "Licensee" shall refer to Fat Chance Airlines as handled by Ms. T.G. Lee 1.3 "Property" shall refer to the item stated in 2.1 of this contract. 1.4 "Fedex" shall refer to Federal Express Overnight delivery, including insurance for the value of the Property equal to one million U.S. dollars. 1.5 "Present Condition" refers to the condition the Product was in at the time of observance by both parties, previous to this contract and recorded...
  • Common Law View Of Pre Registration Contracts
    2,951 words
    " Section 131 of the corporations act 2001 has changed the common law in respect of pre-Registration contracts". Explain the common law view of pre-registration contracts and then explain how section 131 has changed the common law. Then analyse and discuss the effect of section 131 and 132 in respect of the rights and obligations of promoters, companies and third parties. Your answer should make reference to the relevant cases as well as considering the legislative intention of the section. The ...
  • Enforceable Agreement O The Party
    2,447 words
    Contract - An agreement that is enforceable in a court of law A contract is legally binding only when it contains certain factors: Capacity - The legal capability of entering into an agreement; some individuals, such as minors, and mentally incompetent or intoxicated persons, are not seen in law as having the capacity to enter into a contract. Legality - The purpose must be neither criminal nor against the public good. Consensus - There must be complete agreement, or consensus, among the partici...
  • Lower Court's Grant Of Summary Judgment
    281 words
    Ausley vs. Bishop FACTS: In November 1994, Bryan Bishop began working for Andrew Ausley as an apprentice to gain his appraiser's license. After getting his license in April 1997, Ausley wanted to Bishop to sign a new employment contract that included less pay than before. After Bishop refused and decided to open his own office, Ausley told other people that Bishop was unethical and had even stolen files from Ausley's office. Ausley filed suit that Bishop breached contract and was granted a summa...
  • Contract Between Desmond And Flawty Pagoda Inn
    2,680 words
    Desmond Aster, the proprietor of Sleet and Trumpet Real Estate wants to use Sydney Harbour Hotel's conference centre for a series of seminars he is running for his staff. Valerie Ewer, an employee of Sleet and Trumpet contacts Sydney Harbour Hotel and makes a phone booking for a conference room at $500 for the 1st October 2002. The hotel manager makes the booking and adds he will be sending a booking slip to the estate agency which must be signed and returned with $200 as a holding deposit. The ...
  • Unfair Advantage Of One Party
    1,936 words
    'The law of contract must strike a balance between two competing aims'. Many of the rules governing contract are to ensure fairness and there are a number of distinct, though sometimes overlapping, doctrines concerning this area of English law. The question of fairness may be made in relation to the way in which the contract is made (procedural unfairness) or in the terms resulting from the contract (substantive unfairness). In English law the judicial approach to contracts, which are unfair or ...

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