Bus Law

In: Business and Management

Submitted By deepro
Words 3151
Pages 13
| |

Abstract:

Section 2(h) of the Act defines the term contract as "any agreement enforceable by law". To form a contract there must be free consent of all the parties, and undue influence, as defined in section 16, Contract Act 1872 puts a obvious obstacle in making the consent free. The kernel of undue influence basically lies in the relationship of the parties. According to the law a contract becomes voidable when it gets in touch with undue influence. Any such contract may be set aside either absolutely, or if the party who was entitled to avoid it has received any benefit there under, upon such terms and conditions as the Court may seem, just (Sec 19 A).

Keyword

Introduction

What is Contract?

Section 2(h) of the Act defines the term contract as "any agreement enforceable by law". There are two essentials of this act, agreement and enforceability.

Section 2(e) defines agreement as "every promise and every set of promises, forming the consideration for each other."

Again Section 2(b) defines promise in these words: "when the person to whom the proposal is made signifies his assent there to, the proposal is said to be accepted. Proposal when accepted becomes a promise."

What is free consent?

According to Section 13, Contract Act, 1872 two or more parties are said to be in contract when they agree upon the same thing in same sense.

What is Undue influence?

According to Section 16, Contract Act, 1872 a contract is said to be induced by undue influence where the relations subsisting between the parties are such that one of the parties is in a position to dominate the will of the other…...

Similar Documents

Wk3 Assignment Bus Law

...proceedings will be required? (5 points) 6. Do you agree with this decision? Why or why not? (5 points) Now, in the library, click the “Shepardize” button in the top right of the LexisNexis page while on the case. This provides you with all of the cases which have used the Esposito case as “precedent” since its publication. Out of the 30 cases listed pick one, click the link, read the case, and provide the following information: A. the name and citation of the case (5 points) B. the name of the court which decided the case (3 points) C. the year of the decision (2 points) D. the facts of the case (5 points) E. the issue of the case (5 points) F. the “decision” of the case (5 points) G. for what principle of law was the Esposito case used (cited for) in the case? (5 points) H. following the directions in the library, download a Word-Doc copy of the case, and include your name in the “note” section of the download. Attach a copy of the document with your assignment this week. (10 points) (Your name must be in the automatically populated “note” area for full points for this.) Thus, you will have two deliverables into the Week 3 Dropboxes: the case with your name on it and your word document with your answers. Submit them to the correct dropbox. See Syllabus Due Dates for Assignments & Exams for due date information. Discussion:...

Words: 414 - Pages: 2

Bus Law-Corporate Compliance Plan

...the achievement of entity objectives,” (BusinessDictionary.com, 2008). Ideal management of risk involves mitigating negative risk while taking advantage of positive risk. The board of directors is responsible for establishing an enterprise risk management philosophy that guides senior management when implementing an enterprise risk management plan for the company. Internal controls are a subset of ERM. “Internal control is broadly defined as a process, effected by an entity's board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories: effectiveness and efficiency of operations; reliability of financial reporting; compliance with applicable laws and regulations” (COSO, 2008). Internal controls assure accuracy of reporting of information and objectives. To develop a corporate compliance plan for Riordan Manufacturing, the three areas of concern should include the proposal, the outline of duties, and according to the US Sentencing Guidelines components, there should also be relevant compliance standards and procedures, a program oversight, the standards that will be applied to delegated authority, employee training programs, monitoring and auditing systems, enforcement procedures and the responses for any breach of the compliance plan and corrective actions (Izraeli and Schwartz, 1999). Compliance plan 1. Introduction and Purpose As is the case with individuals,......

Words: 3991 - Pages: 16

Bus. Law Week 1

...Business Law 7/13/2014 Week 1 Professor McGovern Common Law is The ancient law of England based upon societal customs and recognized and enforced by the judgments and decrees of the courts. The general body of statutes and case law that governed England and the American colonies prior to the American Revolution. The principles and rules of action, embodied in case law rather than legislative enactments, applicable to the government and protection of persons and property that derive their authority from the community customs and traditions that evolved over the centuries as interpreted by judicial tribunals. Common-law courts base their decisions on prior judicial pronouncements rather than on legislative enactments. Where a statute governs the dispute, judicial interpretation of that statute determines how the law applies. Common-law judges rely on their predecessors' decisions of actual controversies, rather than on abstract codes or texts, to guide them in applying the law. Common-law judges find the grounds for their decisions in law reports, which contain decisions of past controversies. Under the doctrine of Stare Decisis, common-law judges are obliged to adhere to previously decided cases, or precedents, where the facts are substantially the same. A court's decision is binding authority for similar cases decided by the same court or by lower courts within the same jurisdiction. The decision is not binding on courts of higher rank within that jurisdiction or......

Words: 661 - Pages: 3

Bus Law Theory to Practice Paper

...contract by rewriting it to conform to the parties’ actual intentions. This contract modification is called reformation. For example, suppose in the Andrews–Baker building contract above, that Andrews’ real estate broker mistakenly placed the decimal in the price making it $10,000 instead of the parties agreed upon price of $100,000. At the closing, Baker gives Andrews the check for $10,000 and refuses to pay any more, citing the price on the contract. So long as there was a sufficient basis for believing the parties intended the price to be $100,000, a court may simply reform the contract. Andrews may then show that Baker breached the contract and request specific performance as an additional remedy. Avoidance and Mitigation of Damages The law imposes an obligation on the parties in a contract to take appropriate steps in order to avoid incurring damages and losses. So long as a party can avoid the damages with reasonable effort, without undue risk or expense, she may be barred from recovery through a lawsuit. The rule preventing recovery for reasonably avoidable damages is often called the duty to mitigate.19 For example, Leonardo contracts with NewCo. to design a new office building for NewCo. Midway through the design planning process, NewCo. changed its management, notified Leonardo that it believes that the design contract is invalid, and ordered them to stop work. Despite this, Leonardo continues the design process, submits the final work product to NewCo., and......

Words: 2483 - Pages: 10

Bus Law

... Weekly Reflection Due to the depth in American law, the law has been broken down into various categories based on classifications related to specific legal functions. It is essential that individuals and businesses alike understand the differences of law in order to develop legal insight, apply legal theories, and recognize the significance and opportunities that stem from having legal awareness. With this in mind our reflection will briefly discuss the differences between several categories of law, provide examples of each law, discuss what U.S. Constitution amendments were implemented to protect the rights of businesses, and conclude with topics that were comfortable, difficult, and topics that relate to our current fields. Categories of Law Substantive law provides individuals with rights and creates certain duties such as, civil rights, responsibilities in civil law, and crimes and punishments. Procedural law on the other hand sets the rules for pursuing substantive rights and provides the structure that is needed. Criminal law is in place to protect society by penalizing violators with either imprisonment or fines. Civil law is designed to compensate individuals and businesses for damages as a result of another person's conduct. Although Common law has not been passed by legislature, it is solely based on previous cases with similar facts and fundamentals. Statutory law on the other hand is established by legislature and is either disapproved...

Words: 845 - Pages: 4

Bus Law

...Print Property: Personal, Intellectual, and Real Learning Objectives 11 After studying this chapter, you will be able to: 1. Distinguish between personal, intellectual, and real property. 2. Explain how personal property is acquired. 3. Discuss the definition and significance of bailments. 4. Define different types of tenancies in real property. 5. Discuss the concept of eminent domain. Ryan McVay/Photodisc/Thinkstock The concept of property and ownership is one that has long been important in both society in general and law in particular. English philosopher and political theorist John Locke saw it as "the reason why men enter into society," and Walter Lippmann, the American journalist, described it as "the only dependable foundation of personal liberty." Some have gone so far as to say that the main reason for law is to protect property rights. Even if one does not subscribe to such a narrow purpose, there is no doubt that the law is much concerned with property and rights of ownership. Property can be defined as the right of an individual to exclusively possess, use, and dispose of anything that is capable of being owned. Broadly speaking, property can be divided into three separate types: personal property, intellectual property, and real property. Personal property is characterized by its portable nature; it can be carried from place to place. Furthermore, personal property can be either tangible or intangible. Tangible personal property encompasses......

Words: 21517 - Pages: 87

Bus Law

...Bus Law II Writing Assignment Due: September 18, 2014 NO. 3 This is the case of Joe vs. Sam. Joe was driving with his wife which, was in the passenger seat. Joe carelessly rear-ended Sam’s truck, shattering a taillight. Both Joe and Sam got out of the vehicles and Sam, who was incensed, approached Joe with his fists raised. He hit Joe’s dog instead of Joe. Joe was very emotionally distressed at having his dog hurt, and broke Sam’s nose. Sam pulled out a handgun and shot Joe. Sam would receive compensatory damages for Joe’s careless driving when he rear-ended Sam’s truck. Joe failed to exercise the standard of care that a reasonable person would exercise in similar circumstances by hitting the vehicle and breaking his nose. But at the same time, Joe would receive compensatory and punitive damages for Sam shooting Joe. Sam did unnecessary damage to Joe by shooting him. Sam committed assault even though he did not actually hit Joe. Sam created a reasonable fear of immediate harmful when his fists were raised in the air. In Sam’s defense, he could tell the court that he did not have Mens Rea to actually hit Joe sense he actually hit his dog instead. When Sam hit Joe’s dog it made Joe become very emotionally distressed, which is the tort of infliction of emotional distress. Joe committed assault and battery when he broke Sam’s nose. Since Sam hit his dog, he could say that he was protecting his family. There are probably a few juries that allow protecting your pet a......

Words: 569 - Pages: 3

Bus 311 Business Law Entire Course

...BUS 311 Business Law Entire Course To Download This Tutorial Visit below Link http://www.studentsoffortunes.com/downloads/bus-311-business-law-entire-course/ (Product Type) : Instant Downloadable We invite you to browse through our store and shop with confidence. We invite you to create an account with us if you like, or shop as a guest. Either way, your shopping cart will be active until you leave the store. All Tutorials will be E-mailed immediately after the Payment, Please Check your inbox or Spam Folder and can also be downloaded by clicking on Tutorial Bucket. For Any Other Inquiry Feel Free to Contact us: studentsoffortunes@gmail.com For More Tutorials Visit: ( http://www.studentsoffortunes.com/ ) (Product Description) BUS 311 Week 1 DQ 1 Applying the Law to a Set of Facts Applying the Law to a Set of Facts. Read the Hypothetical Case Problem #1 at the end of Chapter 1 and respond to these questions 1. If Javier sued Energy-Auto Inc., identify who would be the plaintiff and the defendant. 2. In which state or states can the suit be brought? 3. Assume that Javier incurred $100,000 in damages. a) Analyze whether the suit can be brought in federal court b) Explain the advantages and disadvantages of federal versus state court for this type of suit. Guided Response: Analyze and respond to at least two of your classmates’ postings. Do you agree with their conclusions? Did the facts you considered important in determining......

Words: 8441 - Pages: 34

Bus 311 Entire Course Business Law

...BUS 311 Entire Course Business Law Follow Link Below To Get Tutorial http://homeworklance.com/downloads/bus-311-entire-course-business-law/ Description: BUS 311 Week 1 DQ 1 Applying the Law to a Set of Facts Applying the Law to a Set of Facts. Read the Hypothetical Case Problem #1 at the end of Chapter 1 and respond to these questions 1. If Javier sued Energy-Auto Inc., identify who would be the plaintiff and the defendant. 2. In which state or states can the suit be brought? 3. Assume that Javier incurred $100,000 in damages. a) Analyze whether the suit can be brought in federal court b) Explain the advantages and disadvantages of federal versus state court for this type of suit. Guided Response: Analyze and respond to at least two of your classmates’ postings. Do you agree with their conclusions? Did the facts you considered important in determining jurisdiction differ from your classmates? Explain why or why not. BUS 311 Week 1 DQ 2 Tort or Crime Tort or Crime. In Chapter 1 of the text you read about the Bailey v. Eminem defamation case where the court held Eminem’s lyrics were protected by the First Amendment. Read the article and view the video (the links are listed under Week 1 Additional Learning Resources Required and Week 1 Multimedia Required) to the Pahler v. Slayer case. Respond to the following questions: 1. Did the Pahler court use the same reasoning as used in Bailey v. Eminem? 2. Should the court’s decision in Pahler be different...

Words: 7961 - Pages: 32

Bus Law

...defining the certain subjects, such as “cybertext”, “technical writer”, and “third party”? Question 2: What obligations did the contract impose on each party? Question 3: Based on your knowledge of contract law, does this agreement meet all of the requirements for a valid contract? Why or why not? Question 4: Under what conditions might the employer terminate the contract with the independent contractors. Generally, do the terms of the contract seem fair? Practical Internet Exercise 9-2:  Management Perspective—Covenants Not to Compete Instructions: Employers frequently have their employees sign covenants not to compete in which the employees agree to not compete against their employers following the termination of their employment. What if you wish to leave your job and either work for a competitor or start up a competing business? Will the covenant you signed with your previous employer be enforceable? The URL below will take you to an article that provides information on covenants not to compete. Read through the article and answer Questions 1–5. Visit URL: Covenants Not to Compete Article http://www.frb-law.com/covenants.htm Questions and Answers Answer the following questions in the fields below. Question 1: Why did early English law prohibit anticompetitive agreements? Question 2: Today, in a state in which such agreements are enforceable, what will a court do if it finds that a former employee has violated a covenant not to......

Words: 649 - Pages: 3

Bus 311 Entire Course Business Law

...BUS 311 Entire Course Business Law Follow Link Below To Get Tutorial http://homeworklance.com/downloads/bus-311-entire-course-business-law/ Description: BUS 311 Week 1 DQ 1 Applying the Law to a Set of Facts Applying the Law to a Set of Facts. Read the Hypothetical Case Problem #1 at the end of Chapter 1 and respond to these questions 1. If Javier sued Energy-Auto Inc., identify who would be the plaintiff and the defendant. 2. In which state or states can the suit be brought? 3. Assume that Javier incurred $100,000 in damages. a) Analyze whether the suit can be brought in federal court b) Explain the advantages and disadvantages of federal versus state court for this type of suit. Guided Response: Analyze and respond to at least two of your classmates’ postings. Do you agree with their conclusions? Did the facts you considered important in determining jurisdiction differ from your classmates? Explain why or why not. BUS 311 Week 1 DQ 2 Tort or Crime Tort or Crime. In Chapter 1 of the text you read about the Bailey v. Eminem defamation case where the court held Eminem’s lyrics were protected by the First Amendment. Read the article and view the video (the links are listed under Week 1 Additional Learning Resources Required and Week 1 Multimedia Required) to the Pahler v. Slayer case. Respond to the following questions: 1. Did the Pahler court use the same reasoning as used in Bailey v. Eminem? 2. Should the court’s decision in Pahler be different...

Words: 11145 - Pages: 45

Bus Law Essay

...Uncertainties Surrounding Implied Contract Business Law Prof: Aliya Ramji Kuldip Manak Student ID: 50023432 March 27, 2014 Word Count: 500 The legal issue that arises when advising for Martha in this scenario is whether she entered into an enforceable contract or was this merely a gratuitous promise made by Bob. In order for there to be a legally binding contract three requirements must be met, there must be an agreement, an intention to create legal relations and consideration. In order for there to be an agreement there needs to be an offer made by one party with is accepted by the other by promise or performance. There was presumably an offer made by Bob to pay the $1000 which Martha had accepted. In commercial agreements (made in the course of business) the presumption lies that there is an intention to create a contract which is not the case in social agreements. It is debatable whether this was an intention to create a contractual obligation, as although the two had met at the TBREA networking event, Martha’s recommendation to Raj were made personally. Most importantly there was no consideration given in this scenario to complete the terms of a contract. The three rules of consideration are, consideration must not be ‘past’, consideration must be sufficient and it must move from the promisee. As Martha had made the referral which was accepted by Bob before the promise of payment was made, the promise came after the performance the consideration was in......

Words: 655 - Pages: 3

Bus Law

...Business Law II Case Brief Citation In re Estate of Piper Missouri Court of Appeals (1984) 676 S.W.2d 897 FACTS: Gladys Piper died without a will. For several years before Piper’s death, Clara Kauffman had taken Piper to the doctor, beauty salon, and the grocery store; written her checks to pay her bills; and helped her care for her home. At the time Piper had passed, she had $206.75 in cash, and the “Andy Piper” diamond rings in her purse. She also owned personal property amounting to $5,150, consisting of household goods, two old automobiles, farm machinery, and other “miscellaneous” items. According to Kauffman, Piper had promised to pay her for these services and that Piper had intended the “Andy Piper” diamond rings to be a gift to her. Kauffman filed a claim against Piper’s estate for $4,800, but the trial court denied her request as they believed the services that Kauffman provided to Piper were voluntary. Wanda Brown, Piper’s niece, claimed the rings in the purse to preserve them for the estate. Kauffman then filed a petition for delivery of the rings, in which the court granted approval. Piper’s heirs appealed. ISSUE: Whether the donor relinquished complete control and dominion over property before the gift can be effectively delivered? Should Clara Kauffman be given Gladys Piper’s diamond rings? DECISION: The judgment of the trial court was reversed. There was no effective gift of the rings made. Piper had never delivered the rings to......

Words: 400 - Pages: 2

Bus Law State of Confusion

...State of Confusion Paper State of Confusion Paper The state of Confusion has over stepped its authority when it passed a law regulating trailer hitches on its roads. This regulation is in direct conflict with the commerce clause of the U.S. Constitution, Article 1 Section 8. This gives Tanya only one option in choosing a court to fight the unjust regulation. She must take her case to the federal court. This gives Tanya the best chance at overturning the state of Confusion’s regulation on trailer hitches. The Supremacy Clause also gives Tanya a chance to fight the states regulations. The supremacy clause states that all state judges must follow federal law when federal and state laws conflict. Using both of these clauses to fight the state of confusions’ regulations, Tanya has enough ammunition. The Federal District Court system will have jurisdiction over all matters arising under the Constitution, laws, or treaties of the United States. Regulations can be tricky when deciding constitutionality in the federal court system. Taxations are generally accepted when passed by state legislators. Under the Constitution, regulations that impact interstate commerce and pose a direct burden are deemed impermissible. Tanya can sue in the federal courts in the state of confusion for a declaratory judgment that the states regulations violate the commerce clause and are invalid because of the undue burden on interstate commerce the regulations impose. There are a few cases that the......

Words: 1209 - Pages: 5

Bus Law

...twenty-first century. CHAPTER OBJECTIVES After studying this chapter, you should be able to: 1. Define franchise and describe the various forms of franchises. 2. Describe the rights and duties of the parties to a franchise agreement. 3. Identify the contract tort liability of franchisors and franchisees. 4. Define licensing and describe how trademarks and intellectual property are licensed. 5. Describe how international franchising, joint ventures, and strategic alliances are used in global commerce. CHAPTER CONTENTS ISBN 0-558-40229-1 INTRODUCTION TO FRANCHISES AND SPECIAL FORMS OF BUSINESS FRANCHISE FRANCHISE AGREEMENT International Law • International Franchising LIABILITY OF FRANCHISOR AND FRANCHISEE Contemporary Environment • FTC Franchise Notice Case 40.1 • Martin v. McDonald’s Corporation 629 Business Law: Legal Environment, Online Commerce, Business Ethics, and International Issues , Seventh Edition, by Henry R. Cheeseman. Published by Prentice Hall. Copyright © 2010 by Pearson Education, Inc. 630 PART VIII BUSINESS ORGANIZATIONS AND ETHICS LICENSING JOINT VENTURE STRATEGIC ALLIANCE Contemporary Environment • Franchisor and Apparent Agency TERMINATION OF A FRANCHISE Case 40.2 • Dunkin’ Donuts of America, Inc. v. Middletown Donut Corporation “It has been uniformly laid down in this Court, as far back as we can remember, that good faith is the basis of all mercantile transactions.” —Judge Buller Salomons v. Nisson......

Words: 10587 - Pages: 43

Read Essay | 7.8 /10 0 454 Beasts Of No Nation (2015) | Case Study