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13.
13
Email
:
help@assignmentdesk.co.uk,
Phone:
(UK)
+44
203
3555345
Website:
www.assignmentdesk.co.uk
This
is
a
sample
document
owned
by
www.assignmentdesk.co.uk
Project
manager
must
take
care
about
the
standards
and
quality
(Brophy,
2002).
The
project
manager
must
have
the
quality
to
deal
with
the
risk
factor.
To
minimize
the
risk
element
in
any
project,
it
is
the
responsibility
of
the
project
manager
to
manage
the
risk
in
a
proper
way
so
that
the
project
does
not
get
affected
by
the
risk.
An
example
can
be
taken
from
the
case.
The
project
manager
has
faced
a
problem
in
supply
but
he
must
be
ready
with
another
alternative
so
that
the
whole
project
does
not
get
delayed.
In
every
organization,
the
project
manager
must
have
the
quality
to
recruit
best
candidate
among
alternatives
so
as
to
make
best
staff.
This
helps
in
completing
the
task
within
the
time
period
(Rastogi.
2010).
The
case
is
about
a
company
that
deals
in
auto
parts.
Organizational
awareness
helps
the
managers
to
get
the
information
about
the
needs
and
requirements.
To
achieve
the
goals
of
the
organization,
managers
must
make
formal
and
informal
structures
so
as
to
get
all
the
required
aspects
with
regards
to
achievement
of
the
goals.
The
terms
of
the
market
is
more
competitive
plans
accordingly
(Brophy,
2004).
4.
4
Email
:
help@assignmentdesk.co.uk,
Phone:
(UK)
+44
203
3555345
Website:
www.assignmentdesk.co.uk
This
is
a
sample
document
owned
by
www.assignmentdesk.co.uk
Figure
1:
Network
diagram.............................................................................................................
7
Figure
2:
Flowchart
of
the
project
................................................................................................
12
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for
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courses:
Save
The
goods
that
are
found
to
be
faulty
within
six
months
of
the
purchase
would
be
considered
as
being
faulty
from
the
day
of
the
purchase
and
the
trader
would
be
considered
to
have
breached
the
contract
with
the
consumer
(SOGA
HUB,
2014).
9.
©
2016
Ali
Jili'ow,
Business
Law
Assignment
Page
9
Ali
proposes,
by
a
letter,
sent
by
post,
to
sell
his
house
to
Bile.
Ali
may
revoke
his
proposal
at
any
time
before
or
at
the
moment
when
Bile
posts
his
letter
of
acceptance,
but
not
afterwards.
Bile
accepts
the
proposal
by
a
letter
sent
by
post.
If
It
Is
Rejected
This
is
quite
obvious.
A
point
to
note
is
that
the
act
of
rejection
destroys
the
offer,
and
the
offeree
cannot
change
his
mind,
and
later
accept.
On
the
Death
of
Either
Party
before
Acceptance
The
death
of
the
offeree
always
terminates
an
offer.
His
personal
representative
cannot
accept
on
his
behalf.
There
is
some
doubt
as
to
whether
an
offer
can
be
accepted
if
the
offeree
is
not
aware
of
the
death
of
the
offeror,
One
view
states
that
the
death
of
the
offeror
automatically
When
the
proposer
communicated
the
revocation
of
the
proposal
to
the
other
party
before
its
acceptance
If
the
revocation
of
proposal
is
made
by
post,
the
revocation
is
only
effective
when
it
comes
to
the
knowledge
of
the
acceptor
and
not
at
the
time
when
the
letter
of
revocation
is
posted.
When
the
proposer
communicated
the
revocation
of
the
proposal
to
the
other
party
before
its
acceptance,
as
in
the
case
of
Byrne
v.
Tienhoven
(1880)
On
October
1st
the
defendant
posted
a
letter
of
offer
from
Cardiff
to
the
plaintiff
in
New
York,
but
October
8th
,
the
defendant
posted
a
letter
revoking
the
offer
he
made
on
October
1st
.
However,
on
11th
October,
the
Plaintiff
received
the
letter
of
offer
posted
on
October
1
and
sent
acceptance
letter
by
a
telegram
on
the
same
day.
On
15th
of
October:
Plaintiff
sent
letter
of
acceptance.
But
unfortunately
the
Plaintiff
received
defendant's
letter
of
revocation
on
20th
of
October.
The
court
held
that
there
was
a
contract
between
the
parties
because
the
revocation
of
the
offer
posted
on
8
October
was
only
effective
on
20
October
When
the
plaintiff
received
it,
the
plaintiff
had
accepted
the
offer
on
11
October
when
he
sent
the
telegram
accepting
the
offer.
2.
Acceptance
What
is
an
acceptance?
Acceptance
is
the
act
of
accepting
something
(offer)
or
someone,
According
to
Merriam
Webster
dictionary:
acceptance
it's
an
agreeing
either
expressly
or
by
conduct
to
the
act
or
offer
of
another
so
that
contract
is
concluded
and
the
parties'
becomes
Gretl
5.
©
2016
Ali
Jili'ow,
Business
Law
Assignment
Page
5 According to Dr. El-Farag and Dr. El-Kalliou (2008), Contract is a lawfully binding agreement
between
two or more parties for the performance of some particular acts Classification of contracts According
to
Dr. El-Farag and Dr. El-Kalliou (2008), Contracts can be categorized with the regard of their
formation stage as 1. Formal contracts and simple contracts 2. Nominative contracts and in
nominative contracts 3. Bilateral contracts and unilateral contracts 4. Executed contracts and
executory contracts Formal contracts are the written contracts that take specific formalities while
informal
or
simple contracts don't need such formalities What is the difference between agreement and contract?
An
agreement is a situation in which people agree or share same idea. An agreement creating obligations
enforceable by law, the contract (or informally known as an agreement in some jurisdictions) is an
agreement having a lawful object entered into voluntarily by two or more parties, each of whom
intends to create one or more legal obligations between them. Contract can be a document on which
the
words of the contract are written, however all contracts are agreements but all agreements are not
contracts, all agreements are not contracts because the term agreement is wider in scope then
contracts An agreement, to be enforceable by law, must possess the essential elements of a valid
contract, "All agreements are contract if they are made by the free consent of the parties, competent
to
contract, for a lawful consideration and with a lawful object and are not expressly declared to be
void." Contracts are always made by contracting parties, so the one who is making the promise is
known as Promisor, the one to whom the promise is made is called Promisee, other terms are also
applied as offeror and offeree when discussing contracting parties. Legitimate and valid contract will
come to existence between parties when all of the six elements of contract are present, the elements
are
as
follows: offer, acceptance, mutual assent, capacity, consideration and legality This document is the
prior work of another student. Thinkswap has partnered with Turnitin to ensure students cannot copy
directly from our resources. Understand how to responsibly use this work by visiting ‘Using
Thinkswap resources correctly’. Download study resources by swapping your own or buying
Exchange Credits. The students usually get out of time to complete their company law assignment.
They have a lot of other law assignments to do. That’s why they search for the company law
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small nuances are included in their written assignments. Keeping university teachers’ preferences in
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every
data is recorded. They can receive top grades if they use such a service. You don't have any courses
yet. Excel In the present report we have discussed different types of laws which are related to the
sale of goods, transfer of property, consumer credits. We have also discussed the agency law and
different type of agents. In this report we have discussed the laws related to monopolies, mergers
and
anti-competitive practices. In the end of this report we have discussed the laws related to intellectual
property rights and different types of intellectual property, patents, copyrights and trademarks.
Corporate Law is definitely a complex & challenging subject to understand. It has many concepts in
it
that
are
required
to
be
studied in detail. This is why when students are assigned corporate law assignments based on
different topics of the subject, they turn to online professional service providers for assistance. We
give you best in class Online Corporate Law Assignment Help services at affordable rates so that
every
student can take its benefit. We help you release from the burden of numerous assignments & other
coursework completion tasks so that you can concentrate on other extra curricular activities as well.
You don't have any books yet. 4. but it should strive to give effect to it, to do otherwise would
negate and undermine the policy and principles that underpin the concept of separate corporate
personality and the legal consequences that attach to it…”,showing the reluctance of the court to
disregard the corporate veil, more so in the case of Amlin (pty) Ltd v Van Kooij10 ,Dlodlo J in his
obiter dicta, opined that opening the curtains or piercing the corporate veil is rather a drastic remedy,
for
that
reason it must be resorted to rather sparingly and indeed as the very last resort in circumstances
where justice will not otherwise be done between the two litigants, it cannot be resorted to where
there
is
an
alternative
remedy that can be successfully employed to administer justice between the parties, the guiding
principle being that the veil is lifted only in exceptional circumstances. It is apparent that the
dichotomy between a company , which is a juristic person and a figment of the law and a natural
person behind it has been protected and respected by our courts. There are several instances where
the
companies Act provides for exceptions to the concept of corporate personality, in particular section
32, 58 ,59, 156, 201 and 318. Section 318 being the most important and vivid in showing that the
veil of corporate personality is not inviolate, it provides that the directors and shareholders of a
company
are
to
be
held
responsible for fraudulent conduct of business, if it appears that any business of a company was
being
carried out either, recklessly, with gross negligence or with intent to defraud any person or for any
fraudulent purpose. This provision is the greatest attempt by the legislature to protect creditors from
abuse inherent in the strict application of the separate corporate existence and limited liability of
directors and shareholders. In the case of Mayhew v Alcock11 , the meaning of section 318 was
raised and the court declared that to render a director personally liable there must be an element of
dishonesty in the manner he carried on business of the company, wherefore on the facts established
certain transactions were undertaken for a fraudulent purpose and the decision to render the
appellant personally liable was correct, hence the legislature’s sledgehammer was instrumental in
cracking the corporate shell. At common law, fraud has frequently been relied on as a basis by which
the
courts can pierce the corporate veil, in the case of Orkin Bros Ltd v Bell12 ,the directors of a
company
were held personally liable to a seller who sold goods to a company at the instance of the 10 Amlin
(pty) Ltd v Van Kooij 2008 (2) SA 558 11 Mayhew v Alcock 1991 (2) ZLR 203 12 Orkin Bros v
Bell 1921 TPD 92 association, or assembly of two or more persons by Reese Bros Plasics Ltd v
Southern Co-operaive Fruit Processors & Ors 13(1989) 4 NZCLC 64,89 1. One editor, 100K journal
formats – world's largest collection of journal templates The dominant position is defined in the
European Union Treaty in Article 82which says that “any abuse which is done by one or more
undertakings of a dominant position within the common market or in the substantial part of it shall
be
prohibited as incompatible with the common market in so far as it may affect trade between member
states
of
the
European Union” (VATIERO, Massimiliano, 2005) 0% found this document not useful, Mark this
document as not useful
creature, having rights and obligations from that time, but no rights or obligations by reason Personal
remedies Whena generous amount of work of a person has been copied without the permission of the
copyright owner then it is known as infringement of Copyright (FIND LAW, 2014). 6. © 2016 Ali
Jili'ow, Business Law Assignment Page 6 Elements of valid contracts In order for contract to be
valid the following element should be considered, a contract that lacks one of those elements
becomes null and void, how the essential elements of contract are as follows Proposal or Offer
Acceptance; Consideration; Intention to create legal relations; Capacity to contract; and
Free consent What is an offer? Proposer or an offer: is a suggestion made by one party to another
demonstrating his readiness to inter into a valid contract. In other words an offer is something that
one offers to another person, so the person who is making the offer is called offeror and the one to
whom the offer is to be made is called offeree. In order to create a valid contract, there must be a
'lawful offer' by one party and 'lawful acceptance' of the same by the other party. An offer made to a
specified person, either verbally or in writing. This is straightforward. An offer made to the “world at
large". This is where a person announces that he will do so and so, if anyone who cares to accept will
do what is required by the offer. However the question is To Whom can a Proposal be Made? The
answer is very clear, A proposal can be made to a specific or particular person and the proposal can
be accepted by that person only. For instance if Ali proposes to Bile to sell his flat at RM10,000.
Ali's proposal can only be accepted by Bile and not by other persons. Offer can also be made to the
community. In such situation, the acceptance can be made by anyone who knows about the offer and
performs the obligations necessary by the proposer. as in the case of Carlill v. Carbolic Smoke Ball
Co Ltd (1893), the parties of the case were a lady called Carlill (the victim) and the Carbolic Smoke
Ball Co Ltd (the defidents). The defendants of this case were proprietors of a medical preparation,
they inserted advertisements in various newspapers in which they offered to pay £100 to any person
who contracted influenza after using the ball three times a day for two weeks. Use the relevant
information contained on the pricing multiples tab. Assume the trailing EPS for the subject company
is $3.65 per share. Price the shares of the subject company using the market approa ECONOMICS
ONLINE. 2014. UK regulation Neo-Classical theory. [online]. [Accessed 25 august 2014]. Available
from World Wide Web:
Course
Hero
is
not
sponsored
or
endorsed
by
any
college
or
university.
Exchange
Credits
represent
the
worth
of
each
document
on
Thinkswap.
In
exchange
for
uploading
documents
you
will
receive
Exchange
Credits.
These
credits
can
then
be
used
to
download
other
documents
for
free.
The
officials
under
the
guidance
of
the
commercial
lawyer
formulate
the
company
laws,
to
develop
the
memorandum
of
association
for
the
better
functioning
of
an
organisation.
11:59
PM
11.
©
2016
Ali
Jili'ow,
Business
Law
Assignment
Page
11
The
Offeror
is
permitted
to
withdraw
the
propose
at
every
time
before
it
is
accepted,
but
he
should
communicate
the
withdrawal
to
the
offeree
ether
by
himself
or
through
an
official
third
party(El-
Farag,
2008)
The
principle
provided
in
Section
7(b)
means,
if
no
method
of
acceptance
is
specified
by
the
proposer,
then
the
acceptance
must
be
communicated
and
made
in
a
usual
and
reasonable
manner.
Exceptions
It
is
obvious
that
the
general
rule
necessitates
the
communication
of
acceptance
and
this
means
the
acceptance
must
be
brought
to
the
notice
of
the
proposer.
Acceptance
through
post
(Postal
Rule)
If
the
parties
have
agreed
to
use
the
post
as
a
means
of
communication,
then
the
acceptance
is
complete
or
effective
as
soon
as
the
acceptor
posted
his
letter
of
acceptance,
even
though
it
never
reaches
the
proposer.
Section
4(2)
(a),
Malaysian
Contracts
Act
1950
provides
that:
„The
communication
of
an
acceptance
is
complete:
(a)
As
against
the
proposer,
when
it
is
put
in
a
course
of
transmission
to
him,
so
as
to
be
out
of
the
power
of
the
acceptor;
and
(b)
as
against
the
acceptor,
when
it
comes
to
the
knowledge
of
the
proposer
3.
Consideration
Another
essential
element
of
valid
contract
is
Consideration,
and
any
agreement
made
without
consideration
becomes
a
void
agreement.
Part
26
of
Malaysian
Contracts
Act
1950
offers
that
„an
agreement
made
without
consideration
is
void;
Somali
contract
act
1973
provides
that
an
agreement
made
without
consideration
becomes
null
and
void
Definitions
Consideration
has
been
defined
in
various
ways.
According
to
Blackstone,
"Consideration
is
recompense
given
by
the
party
contracting
to
another."
In
other
words
of
Pollock,
"Consideration
is
the
price
for
which
the
promise
of
another
is
brought
"consideration
is
known
as
quid
pro-
quo
or
something
in
return
A
definition
given
in
Currie
v.
Misa
(1875)
was
as
follows.
9.
©
2016
Ali
Jili'ow,
Business
Law
Assignment
Page
9
Ali
proposes,
by
a
letter,
sent
by
post,
to
sell
his
house
to
Bile.
Ali
may
revoke
his
proposal
at
any
time
before
or
at
the
moment
when
Bile
posts
his
letter
of
acceptance,
but
not
afterwards.
Bile
accepts
the
proposal
by
a
letter
sent
by
post.
If
It
Is
Rejected
This
is
quite
obvious.
A
point
to
note
is
that
the
act
of
rejection
destroys
the
offer,
and
the
offeree
cannot change his mind, and later accept. On the Death of Either Party before Acceptance The death
of
the
offeree
always terminates an offer. His personal representative cannot accept on his behalf. There is some
doubt as to whether an offer can be accepted if the offeree is not aware of the death of the offeror,
One view states that the death of the offeror automatically When the proposer communicated the
revocation of the proposal to the other party before its acceptance If the revocation of proposal is
made
by
post,
the
revocation is only effective when it comes to the knowledge of the acceptor and not at the time when
the
letter
of
revocation is posted. When the proposer communicated the revocation of the proposal to the other
party
before
its acceptance, as in the case of Byrne v. Tienhoven (1880) On October 1st the defendant posted a
letter
of
offer from Cardiff to the plaintiff in New York, but October 8th , the defendant posted a letter
revoking the offer he made on October 1st . However, on 11th October, the Plaintiff received the
letter
of
offer posted on October 1 and sent acceptance letter by a telegram on the same day. On 15th of
October: Plaintiff sent letter of acceptance. But unfortunately the Plaintiff received defendant's letter
of
revocation on 20th of October. The court held that there was a contract between the parties because
the
revocation of the offer posted on 8 October was only effective on 20 October When the plaintiff
received it, the plaintiff had accepted the offer on 11 October when he sent the telegram accepting
the
offer. 2. Acceptance What is an acceptance? Acceptance is the act of accepting something (offer) or
someone, According to Merriam Webster dictionary: acceptance it's an agreeing either expressly or
by
conduct to the act or offer of another so that contract is concluded and the parties' becomes 4. but it
should
strive to give effect to it, to do otherwise would negate and undermine the policy and principles that
underpin the concept of separate corporate personality and the legal consequences that attach to
it…”,showing the reluctance of the court to disregard the corporate veil, more so in the case of
Amlin (pty) Ltd v Van Kooij10 ,Dlodlo J in his obiter dicta, opined that opening the curtains or
piercing the corporate veil is rather a drastic remedy, for that reason it must be resorted to rather
sparingly and indeed as the very last resort in circumstances where justice will not otherwise be done
between the two litigants, it cannot be resorted to where there is an alternative remedy that can be
successfully employed to administer justice between the parties, the guiding principle being that the
veil is lifted only in exceptional circumstances. It is apparent that the dichotomy between a company
, which is a juristic person and a figment of the law and a natural person behind it has been protected
and
respected by our courts. There are several instances where the companies Act provides for exceptions
to
the
concept of corporate personality, in particular section 32, 58 ,59, 156, 201 and 318. Section 318
being the most important and vivid in showing that the veil of corporate personality is not inviolate,
it
provides
that
the
directors and shareholders of a company are to be held responsible for fraudulent conduct of
business, if it appears that any business of a company was being carried out either, recklessly, with
gross negligence or with intent to defraud any person or for any fraudulent purpose. This provision is
the
greatest attempt by the legislature to protect creditors from abuse inherent in the strict application of
the
separate corporate existence and limited liability of directors and shareholders. In the case of
Mayhew v Alcock11 , the meaning of section 318 was raised and the court declared that to render a
director personally liable there must be an element of dishonesty in the manner he carried on business
of
the
company, wherefore on the facts established certain transactions were undertaken for a fraudulent
purpose and the decision to render the appellant personally liable was correct, hence the legislature’s
sledgehammer was instrumental in cracking the corporate shell. At common law, fraud has frequently
been
relied on as a basis by which the courts can pierce the corporate veil, in the case of Orkin Bros Ltd v
Bell12 ,the directors of a company were held personally liable to a seller who sold goods to a
company
at
the
instance of the 10 Amlin (pty) Ltd v Van Kooij 2008 (2) SA 558 11 Mayhew v Alcock 1991 (2) ZLR
203 12 Orkin Bros v Bell 1921 TPD 92 It represents contractual rights as follow: A trademark may
not
be
registered as a company name if: In this category, you usually have the topics that relate to the study
of
relationships between the source of funding and wealth expenses in a company. The lender must
send her ArrearsNoticeand also a Financial Conduct Authority (FCA) information sheet.But this is
not
required if there is aGreen deal plan. Import a MS-Word file or start fresh 0% found this document
not
useful, Mark this document as not useful 12. © 2016 Ali Jili'ow, Business Law Assignment Page 12
“A valuable consideration, in the sense of the law, may consist either in some right, interest, profit or
benefit accruing to the one party, or some forbearance, detriment, loss or responsibility given,
suffered, or undertaken by the other'' Consideration can be categorized into 1. Executory 2.
Executed 3. Past consideration Executory: Consideration may be executory when one promise is
made
in
return
for
another
promise. For example, you agree to sell a fax machine to B for RM2,000. Here, BÊs promise to pay
RM2,000 is the consideration for your promise to sell the fax machine and your promise to sell the
fax machine is the consideration for BÊs promise to pay RM2,000. Executed; consideration may be
executed when one promise is made in return for the performance of an act. Past consideration: Apart
from the executory and executed considerations, if a promise is made in return for an act that has
already been performed, that act is regarded as past consideration. Exceptions to the general rule of
Consideration
The
general
rule
of
consideration
under
Section
26
of
the
Contracts
Act
1950
provides
that
an
agreement
without
consideration
is
void. However, there are exceptions to this general rule. Exceptions are the following 1. Agreement
made
on
account of Natural Love and Affection 2. Agreement to Compensate a Past Voluntary Act 3.
Agreement to Pay a Statute-barred Debt 4. Intention to create legal relations All agreement made
between the parties (the proposer/offeror and the acceptor/offeree) will only become a binding
contract
if
both parties be determined to make the contract biding, H In case, there is no such intention on the
part of parties, there is no contract. Nonetheless Agreements of social or domestic nature do not
contemplate legal relations. 5. Capacity to contract The capacity of the contracting party becomes
another
essential
element
of
valid
contract; the parties to an agreement must be competent to form a contract. If either of the parties
does not Courses We do not encourage academic misconduct of any sort and only provide guidance
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companies that provide a specific product or service. Subject mater : Memorandum of Preliminary
advice to Green Timbers Pty Ltd on given 3 scenarios The unpaid seller Implied agency Professional
Writer Subject matter: Memorandum of Preliminary advice to Green Timbers Pty Ltd on given 3
scenarios G E Blonder, M Tinkham, and T M Klapwijk. Transition from metallic to tunneling
regimes in superconducting microconstrictions: Excess current, charge imbalance, and supercurrent
conversion. Phys. Rev. B, 25(7):4515– 4532, 1982.
Everything new and nothing to hide. Get edited assignment papers that are devoid of plagiarism and
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Page 10 legally bound, in other words , acceptance means When you agree to accept the offer or
proposal made by the other party who makes the proposal. Based on the principles of Slamic Shariah,
and even just like the conventional law, it is a required that in order for a contract to be valid, there
must be an offer and acceptance from the contracting parties(Abubakar) According to Dr. El-Farag
and Dr. El-Kalliou (2008), an offer comes to accomplished when it has been accepted by the offeree
and a binding contract is formed. According to part 2(b) of Malysian Contracts Act 1950, an
acceptance is made when the one to whom the offer is made indicates his assent thereto, a proposal is
said to be accepted: An acceptance is an agreement by the acceptor to the terms contained in the
proposal made by the proposer. With that acceptance, a binding contract is said to exist. If a
supposed acceptance alters or qualifies the offer in any way, it constitutes a rejection of the offer,
followed by a counter-offer. The counter-offer is then open to acceptance or rejection in the same
way as the original offer. In order for contract to be valid acceptance must be complete and
unqualified, if for instance one party varies or modifies the terms made in the proposal, an
acceptance does not exist but that act will amount to a counter-proposal. The following case of Hyde
and Wrench (1840) highlights, the defendant of this case offered to sell his estate to the plaintiff for
£1,000. In reply, the plaintiff made a counter-proposal to purchase at £950 but the defendant refused
to accept this proposal. The plaintiff then wrote again to the defendant, agreeing to accept the
original proposal, but the defendant refused. to sell. The court ruled that t the counter-offer made by
the plaintiff at the price of £950 constituted a rejection to the original proposal Therefore, no
acceptance had occurred and the defendant had the right not to sell the estate to the plaintiff.
Revocation of acceptance According to Section 5(2), Malysian Contracts Act 1950, „an acceptance
may be revoked at any time before the communication of the acceptance is complete as against the
acceptor, but not afterwards. 11/04/2024 Section 14(3) fitness for purposeThe goods must be fit for
the purpose for which it is made and bought. Newborne v Sensolid (Great Britain) Ltd [1954]. 4. ©
2016 Ali Jili'ow, Business Law Assignment Page 4 Introduction Actually, in our everyday activities,
the entire essence of business life is the creation of contracts, people interact, make arrangements to
do something special, make agreements or buy and sell something to each other, contracts to carry
out work; contracts to buy and sell; contracts to make something; or to make use of someone; or to
use something. These activities reflect contracts, thus nearly all contracts take the form of simple
contracts whereby there are no exact formalities concerned in the contract creation. The contracts are
made orally or through implied actions of the parties involved. However, this assignment attempts to
highlight contracts, definition of contracts, types of contracts, elements of valid contract, offer and
acceptance and finally comparison between insurance contracts and Takaful contracts. Meaning of
contract Contract is an agreement between two or more parties; it can be a contract to sell
equipments, a contract to purchase a piece of land, a contract of leasing, contract of insurance or
other. Contract in agreement founded on joint promise between two or more competent parties to do
or refrain from doing some particular thing that is neither illegal nor impossible(Gordon W, 1993)
Definition of contract Contract can be defined into different ways, most important defines are
provided below Contract is an agreement creating obligations enforceable by law; the contract is an
agreement having a lawful object entered into freely by two or more parties, each of whom intends
to create one or more legal obligations between them. Part 2(h) of Malaysian Contracts Act defines
contract as an agreement enforceable by law In other words, a contract is an agreement that binds
the parties who enter into it and it can be enforced against one another. Concise Oxford English
Dictionary defines contract as written or spoken agreement intended to be enforceable by law.
Cambridge advanced learner's dictionary defines contract as a legal document that states and
explains a formal agreement between two different people or groups, or the agreement itself.
According to Merriam Webster dictionary: Contract is a legal agreement between people and
companies 0% other party was informed that the company was not formed at the time of contract.
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help service does them all. Section 48C (2) Rescission of the contract Section 50action in damages
for the non-acceptance of the goods (ATIYAH, Patrick S. and Adams, John N., 2005) Engineering
2:00 PM 8. Wallersteiner v Moir (No 1) [1947] 1 WLR The Sheriff of the High Court v African
Research Institute of Biomedical and Science Technology HC 90-883-13 BOOKS Gower’s
Principles of Modern Company Law (1995, Sweet & Maxwell, London) HS Cilliers et al Corporate
Law (1992, Butterworths, Durban) This document is the prior work of another student. Thinkswap
has partnered with Turnitin to ensure students cannot copy directly from our resources. Understand
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the address speciied in the applicaion becomes the registered oice of the company upon registraion.
ECONOMICS ONLINE. 2014. UK regulation Neo-Classical theory. [online]. [Accessed 25 august
2014]. Available from World Wide Web: Automatically format and order your citations and
bibliography in a click. The green imbers Pty Ltd is not registered at the ime of contract, later it is
incorporated and failed to raify the contract in an agreed or reasonable ime, then the Jimmy (as an
agent) who contracted with PP press is liable under the law of agency. In this case, Jimmy can seek
indemnity from Mike and Dean for whom he was acing under the law of agency. existence held not
liable. In this case, promoters are liable to pay damages, if PP press is The owner of the patent can
take legal action and claim for damages in case of an infringement of the patent right. University of
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