Ans: Section 2(h) of the Indian Contract Act‚ 1872 defines a contract as an agreement enforceable by law. Section 2(e) defines agreement as "everypromise and every set of promises forming consideration for each other." Section2(b) defines promise in the word: "When the person to whom the proposal ismade signifies his assent thereto‚ the proposal is said to be accepted. A proposalwhen accepted becomes a promise." From the above definition of promise‚ it is obvious that an agreement
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So many people take social conformity for granted that not many bother to find out why it is such a powerful phenomenon and why so many people submit to this force without any resistance. In ants and termite colonies the entire unit composed of thousands of individual ants or termites act as one unit and there is hardly any individual variation. The queen ant or termite spreads a chemical oozing out of her body through the entire assembly of ants and termites and that shared chemical bond somehow
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Group A8 group memebers: Question 1 HowCan Pte Ltd enters into a contract of sale with Panda Ltd in China for the sale of perishable goods‚ F.O.B (free on board: i.e. buyer has to make the shipping and other arrangements). Howcan Pte Ltd then gets SureCan Pte Ltd to transport perishable goods from China to Singapore. The ship is supposed to transit via Vietnam. The goods are shipped out of China‚ but due to improper planning on the part of SureCan Pte Ltd‚ they are wrongly dispatched
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to the contracts between Grocery‚ Inc. and its vendors? Do common law contracts apply? Explain your answer in detail. Your answer should compare and contrast law contracts and UCC Article 2 contracts. The Uniform Commercial Code (UCC) Article 2 applies only to contracts for the sale of goods. The definition of goods is defined as goods that are tangible‚ movable‚ or personal property. However‚ UCC Article 2 does not apply to real estate contracts or employment contracts. Common law contracts are for
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"psychological contract" was first coined by Argyris (1960) to refer to employer and employee expectations of the employment relationship‚ i.e. mutual obligations‚ values‚ expectations and aspirations that operate over and above the formal contract of employment. Since then there have been many attempts to develop and refine this concept. Historically‚ the concept can be viewed as an extension of philosophical concepts of social contract theory (Schein‚ 1980; Roehling‚ 1997). The social contract‚ which deals
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CHAPTER 2: Nature and Effects of Obligations Art. 1163. Every person obliged to give something is also obliged to take care of it with the proper diligence of a good father of a family‚ unless the law or the stipulation of the parties requires another standard of care. (1094a) 3 kinds of prestations in obligations: • To give real (there is some physical thing which may be the subject of possession‚ the delivery of which completely discharges the obligation) • To do • Not to do
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Breach of Contract & Remedies 1 Breach of contract Nature of breach A breach of contract occurs where a party to a contract fails to perform‚ precisely and exactly‚ his obligations under the contract. This can take various forms for example‚ the failure to supply goods or perform a service as agreed. Breach of contract may be either actual or anticipatory. Actual breach occurs where one party refuses to form his side of the bargain on the due date or performs incompletely. For example: Poussard
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CONTRACT & AGENCY LAW END-OF-COURSE ASSESSMENT JULY 2012 PRESENTATION Submission Date : 08 Sept 2012 Question 1: Legal issues: As there are different parts to “Clause 8” in the employment contract which Julia as an employee has signed with Calypso Private Limited‚ we shall examine four separate legal issues. The first legal issue is whether Calypso is able to enforce part (a) of Clause 8 which states that Julia shall not be directly or indirectly
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Chapter 18: Remedies for Breach of Contract Election to discharge: self-help remedy Types of Judicial Remedies • Common law remedy of damages • Common law remedy of an action for a fixed sum • Equitable remedy of specific performance • Equitable remedy of injunction Limitation Act • Judicial remedies may be barred by lapse of time due to LA • S 6 LA: no action against breach of contract after 6 years have passed (unless party unaware of breach) • LA does not apply to any legal action rooted
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unknowingly enter into series of contracts. This may be in the form of purchasing an article from a shop or by purchasing a railway ticket or by numerous ways. In modern societies‚ because of increasing complexity‚ there has been a practice of concluding contracts in standard form. One such instance of a standard form of contract is contract of insurance. Thus‚ standard form of contracts are those kinds of contracts were parties do not sit together to bargain the terms of the contract. One problem that is likely
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