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Sam is a successful second-hand dealer. He decides to reward his staff buys buying a fridge and a microwave oven for their use. He wants to enter into a hire purchase agreement to help him finance the two goods. Advise Sam whether these goods will …
A misrepresentation is distinct from a statement of opinion which may render a valid contract void or voidable. There is a difference between innocent, negligent and fraudulent misrepresentations. An innocent misrepresentation would affect a contract. A negligent misrepresentation may result in liability for negligence; whereas, …
TUTORIAL 2 1. Ali and Abu were neighbours. Ali had to go to Singapore for a business seminar. Before he left, he told Abu “Please look after my house”. After two weeks of being away, Ali’s house caught fire and Abu could only save a …
Abstract The doctrine of separate legal entity is a doctrine which has gained increasing importance in the analysis of company law. The importance of this doctrine and its relevance in the analysis of laws relating to companies is evident in the case of Salomon v …
Accounting is the system of recording, reporting and verifying financial information for individuals and businesses, including income, expenses, value of assets, and so on. However, Business Law I, takes what is normally known of accounting and moves into another arena, one which includes civil and …
Offer ( Topic 3) Is a proposal the acceptance of which establishes the existence of an agreement. It shows a promissory intent. In other words, it is a promise to do or refrain from doing something. – Usually upon condition that the other party agrees …
Censorship in Music When listening to the radio, most people come across a song that has been changed from its original version, whether certain words are beeped out, or a string of lyrics are replaced altogether. This is censorship, and it is very common on …
Among the foremost choice an individual might encounter as a business owner might be, if at all or not to register his business or set up a limited liability company – LLC. (Evaluating Incorporating a Business or Forming a Limited Liability Company (LLC)) Setting up …
Introduction Contract law is primarily concerned with the enforcement of promises and is regulated largely by the common law. In order for any contract to be binding between the parties, there must be an intention to create legal relations as shown in the case of …
Turner has decided to start her own business running a private day nursery. It is necessary for her to find appropriate premises. She sees a detached house, which would be appropriate, on the market for 200. 000. After having viewed the property she decides to …
The endorsed is the person to whom the bill is endorsed. The endorsed can obtain the payment form the drawer. A bill of exchange is generally used in international trade and aims at binding one party to pay a fixed amount of money to another …
Introduction to Business Law and Ethics Susana Silvestri Grand Canyon University BUS-340 October 17, 2010 Introduction to Business Law and Ethics Statutory interpretation was critical to the Supreme Court of Colorado’s resolution of a 2007 case, Pringle v. Valdez. Using an online source or sources, …
Business law really tends to describe an extensive body of bylaws that tend to govern the business transactions. Business law also includes every major aspect of trade together with the advertising as well as marketing collection plus the bankruptcy, contracts, banking, secured transactions, negotiable instruments …
For businesses, commercial banks also provide specialized cash management and credit enhancement services. Cash management services are designed to allow businesses to make efficient use of their cash. For example, under normal circumstances a business would sell its product to a customer and send the …
The need for an organization to embrace ethical approach in conducting its business into competitive and dynamic business environment is an approach for managing high risk involve in contemporary business. Decisions that are vital and adequate in the business to reach its organizations goals are …
Treibacher Industrie, A. G. v Allegheny Technologies, Inc (2006) Facts: The case proceeded to a bench trial, where TDY and Treibacher disputed the meaning of the term “consignment”-the delivery term contained in both contracts. ? TDY introduced experts in the metal industry who testified that …
Abstract Reflective writing provides “evidence of reflective thinking” (Thorpe, 2010, p. 2) and generally involves the writer looking at back at tasks that have been undertaken and considering what improvements need to be made. In order to conduct a reflective statement for a presentation that …
The American common law adopted the concept of strict liability in early 1960’s. They began to adopt the view that the sellers should bear the cost of injuries or defects in their products as they are in the best position to distinguish the risks associated …
The article was about a transportable, marked document that assures to pay the holder or the owner a sum of money at a future date or on demand like checks, bills of exchange and promissory notes (“Negotiable Instrument,”). Those negotiable instruments must follow the requirements …
Business Law Answer Key This is a comprehensive key to all the questions, including some chapters which we did not cover. You are responsible only for chapters on the syllabus. Ch. 1 A. 3 B. 5 C. 1 D. 2 E. 4 1. F 2. …
Introduction In order to render controllers of corporate groups or controlling shareholders individually accountable for the debts of the company, the courts are empowered to lift the veil of incorporation. However, this is drastic and has to be resorted to only under extreme circumstances. As …
Resolving Ethical Business Challenges Chapter One 1. What are the potential ethical issues faced by Acme Corporation? Acme is essentially bribing buyers to purchase their products. This could backfire on them if the buyers company gets wind of it. The reaction of the company may …
The term police powers encompasses just the enforcement of criminal laws. False, they are the state regulatory powers; they give state governments broad rights to regulate private activities . Under the U. S. Constitution, the judicial branch interprets the laws. The states can establish laws …
Arthur Andersen LLP v. United States The parties: In Arthur Andersen LLP v. United States, the plaintiff was the United States. The United States was also the Appellee. Arthur Andersen is the defendant as well as the appellant. The history: Arthur Andersen was found guilty …
Mary operates an information service known as “Mary’s PR Notes “ which she emails to clients who subscribe to her service. Mary’s PR Notes provides subscribers with abstracts of articles on public relations. The articles come from a variety of newspapers and magazines. The abstract …
False, both parties are released from it 5. A request or invitation to negotiate is an offer. False, an offer is a promise to do or refrain from doing something 6. An acceptance can impose new conditions or change the terms of the original offer …
An exemption is a clause in a contract that exempts or removes liability from one or both parties in certain circumstances. Exemption clauses are used frequently in business organization contract. These clauses apportion risk between the parties concerned and the law upholds them, assuming the …
Question 1 2. 5 out of 2. 5 points TECO Coal Corporation mines and ships more than six million tons of coal annually. TECO is comprehensively regulated by the U. S. Bureau of Mines. The U. S. Bureau of Mines may conduct a surprise inspection …
Contemporary Canadian Business Law: Principles and Cases Tenth Edition Chapter 15: Case 9 Case 9 deals with a homeowner (the principle) who lists her property for sale and enters into an agreement with an agent to facilitate a sale with a third party. Over the …
MULTIPLE CHOICE (answers at bottom of page) 1. Paul filed a lawsuit for false imprisonment against Dan’s Bookstore. During a visit to Dan’s Bookstore, Dan stopped Paul as he left the store. Dan accused Paul of stealing a book from the store. After briefly looking …
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