ASSESSMENT NATIONAL DIPLOMA IN BUSINESS LEVEL 5 Unit standard: 11633 NDB 612 BUSINESS LAW Credits 10 Title: Apply the law of contract to a given fact situation Student: Arshveer Singh Kahlon Element 1 1.1 Explain at least four points of differentiations between contract and agreement with the help of examples. Contract • A contract is a written or verbal agreement between two or more parties …show more content…
In addition to this he had put some condition while giving the house to her wife like she has to pay one pond yearly and she has to maintain the house in favour of this. ELEMENT 3 3.1 Explain the law of disaffirmance of a contract by minor. Under Minors’ Employment Contracts; In this case; A contract, otherwise valid, of a type used in section 6750, during minority entered, described, cannot be disaffirmed on that ground either during the minority of the person entering into the agreement, or at any time thereafter, if the agreement has been approved by the higher court in each county where the minor resides or is employed or in which a party to the contract has its head office in this state for the transaction of business. > Explain can Cindy cancel the contract made by her while she was a minor. No, Cindy cannot cancel the contract made by her while she was a minor because that time she was under 18 years old but at the moment she is 21year old, so according to the law she cannot break the law after 18 year old. If she cancel the contract when she was a minor, it is acceptable by court but not after she was above 18. 3.2 …show more content…
It also affects the printer because he publishes the book and writer who writes these kinds of words. So as per law they have power to see the book contents. Quantum meruit - first example A contractor is contracted to work on a school. The contractor does some work but then quits (breach of contract). The contractor is entitled to be paid for the services he has already provided for the school on the basis of quantum meruit (however the school may be entitled to damages arising out of the need to look for a new contractor). > Explain whether the printer was justified in ceasing the work on book and entitled for the payment for the work done. In this case the printer was print the half of book and publish but second half was not good as per condition like the language which used is not good, it may be harm the printer and writer as well. As per law printer has right to ask for the money because they done their half of the work and publish half of book. So the case was in the favour or printer and he have the full right to get their payment for the work done. ELEMENT 4 4.1
Maria had spoken with Eva over the phone concerning the correct total amount of $60,000 for rendering decorating services provided by Eva. Maria had sent a letter of the telephone conversation stating that Eva agreed to take $60,000 in full satisfaction obligation under the contract. Although Eva, changed her mind when depositing the check in the bank, she legally entered a mutual agreement over the telephone where it resulted in a unliquidated debt, payment is lower than actual.
Aldo shipped 10 refrigerators to Rafael pursuant to a sales contract under which title to the goods and risk of loss would pass to Rafael upon delivery to Fleet Railroad. The agreed price was $5,000. When the refrigerators were delivered to Rafael, he found they were damaged. An estimate for repairing them showed it would cost up to $1,000, and an expert opinion was to the effect that they were defective when shipped. Rafael put in a claim to Aldo, which Aldo rejected. Rafael then wrote to Aldo, “I don’t like to get into a despite of this nature. I am enclosing my check for $4,000 in full payment of the shipment.” Aldo did not reply, but he cashed the check and then sued Rafael for the $1,000 balance. May he recover? Explain.
Barbara Kalas (plaintiff) owns a print shop and filed a lawsuit against the defendant, Edward W. Cook for a breach of duties in which Adelam Simmons was the buyer of the estate. Kalas had a very extensive verbal agreement with Simmons for the sale of items and after Simmons’s death Cook declined to pay for these items that were delivered to her.
Since the Court found that Jacob & Youngs had substantially preformed the contract, and that the cost to remedy to damages unreasonable, Kent is entitled to be compensated the difference in value between the reading manufacture pipe specified in the contract and the pipe that was actually installed.
If a breach of contract is both material and opportunistic, the injured promisee has a claim in restitution to the profit realized by the defaulting promisor as a result of the breach. Liability in restitution with disgorgement of profit is an alternative to liability for contract damages measured by injury to the promisee.
A Chinese toy manufacturer known as Fan Li approached Tegan to distribute its accessories for its Chinese made products in Europe in the May of 2007. According to the case, it was specified that Tegan’s traditional products had generally been £50 whereas Fan Li’s accessories were priced below £5. As their order’s size decreased, the growth of direct sales to consumers had increased their number of transactions. But it was a threat as Fan Li’s project provided a boost to the sales as tegan said agreed for Fan Li’s agreement. To get the appropriate outputs, Tegan’s account payables played a major role where tegan received discounts on most of its payables in prior payments as per the agreement.
They gave reason to P4P, that they were understood about the efficiency, but the productivity decreasing was not employees’ fault. Beside, there was an indication that the defendant would diversify the business, instead of paying employees’ separation pay.
Over the past years, Lancer Gallery's business has been growing reasonably counterfeit revenue is a small amount. Despite the expected attracting turnover of that contract, it will be risky for Lancer. The company total sales are about $ 35,000,000. The new contract although might increase that amount more than $ 4,000,000 in addition to sales, but it's going to harm the company's distinctive competence. Lancer's reputation will land beside their customers' relationship will be also affected and change (since they will not be the only one in this business anymore), the initial sales of the original $ 35,000,000 will be cut down. Indeed, this is not a wise decision to be accepted under any circumstances. We are recommending Lancer Gallery that does NOT accept this
When it comes to contracts, there are certain elements or requirements, which need to be met in order for the contract to be valid. Defined, a contract is “an agreement that can be enforced in a court; formed by two or more parties who agree to perform or refrain from performing some act now or in the future” (Hollowell & Miller, 2014, p. 110). With contract law, there is the enforcement of promises made between two parties, even if made in private. Additionally if a promise is made, there is the possibility of the obligation falling into a moral liability rather than a legal liability. All in all, when it comes to business agreements, contract laws will apply to avoid any possible problems that may arise.
If the elements of a contract did exist between these parties, there could still be some possible reasons why a contract might not be valid based on facts not present in the scenario. For example, if Sam was a minor at the time he made the agreement with the chain store, the contract would not be valid because of contractual capacity. Per the law a contract by minors is voidable by the minor itself. Other reasons that would deem a contract invalid are lack of genuine assent, which means that the accepting party entered the agreement under fraudulent circumstances, duress, undue influence and/or misrepresentation. Moreover the validity of the contract could be hindered due to lack of proper form. This typically refers to
A contract is an agreement, either oral, in writing or inferred by conduct, between two or more persons (the offeror and offeree or promisor and promisee) which is usually intended to be legally binding. A contract concerns 3 main issues, firstly, is there a contract? Secondly, is the agreement one in which the law recognises? Thirdly, when do obligations under contract come to an end and what remedies are there if a contract is broken? (Jones,2015). The question at hand surrounds Sam, who had been offered the opportunity to earn some money for university by helping Jo. But when Sam leaves for university, Jo refuses to pay any money. The following discusses whether Sam has a contract and whether he is entitled to be paid.
This case mentioned below is a fine example of understanding the Law of Contract in a better manner. (Gerald, 2014).
Minors: The Australian law restricts the entry of Minors in the formation of the contract. So any contract made with the person under the age of 18 will be considered as voidable contract. (Clarke, 2016)
Many countries made individual laws and practices about copyright and printing books. One practice came from the Stationers Company3, based in the City of London, who in the mid 16th century established a rule amongst themselves that they would not print any books that had already been printed. However this agreement did not pertain to ...
If a court has not previously judged a person to be mentally incompetent, but the person was incompetent at the time the contract was formed, the contract may be voidable. A contract is voidable in the majority of states if the person did not know that he or she was entering into the contract or lacked the mental capacity to comprehend its nature, purpose, and consequences. In such situations. the contract is voidable (or can be ratified) at the option of the mentally incompetent person but not at the option of the other party.