Chapter 1 INTRODUCTION Objectives of Report * To get an idea about the law structure of Sri Lanka * To study about contract law * To get an idea about the low governing offerer and acceptance in Sri Lankan Law. Methodology * Library and Internet research Colonial History and the Law Sri Lanka‚ formally known as Ceylon‚ is a multi-ethnic and multi-religion island nation in the Indian Ocean‚ near the southern coast of India. The ethnic and religious diversity of the nation‚ and
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CONTRACT AND RELATED OBLIGATION Prof. Hillman I) Theories of Obligation A) CONTRACT: Agreement with Consideration – Bargain Theory of Consideration Definition: A promise that is supported by consideration because the promisor gets something (extracts) from the promissee in exchange for the promise. Ex: I tell Alice I will sell her my piano for 400 dollars and she agrees. I promised my piano in exchange for something (400 dollars) therefore my promise is enforceable. 1) Bargained
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Business Law Assignment; Mistake in contract law‚ is a factual misunderstanding that may lead to a failure of a meeting of the minds. Unilateral mistake is mean that is only one party is mistaken‚ but the other party knows‚ or ought reasonably to be aware of the mistake. Contract may be void or voidable. Void is a contract that is no legal effect. While‚ voidable is an agreement that may be affirmed or rejected at the option of one of the party. The reason why Lord Denning took the view that these
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strict textual approach would incorporate philanthropy‚ particularly with the reasonable forethought of a tax deduction establishing a motive. There is little doubt then‚ that the payment in question satisfies the meaning of ’expenditure’ as in section 4 of the Act. In determining whether the payment in question was indeed directed to a ’political matter’‚ the objective intention of parliament must be ascertained as legislatively mandated by s 33 of the Interpretation Act 1987 (NSW) and preferred
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Introduction A contract is formed when one of the parties has to accept an offer made by the other. Here‚ David places an advertisement in the local newspaper of a reward‚ £1000 for the safe return of each of his six cats. This shows he is making an offer to all the readers of the Daily Bungle. An offer is defined as follows: “An offer is a statement of the terms upon which the offeror is prepared to be bound if acceptance is communicated while the offer remains alive1.” The critical aspect of
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Sample Contract Exercise Contracts are the bloodline of business. Thus it is absolutely crucial that you understand what you are or your business is signing. We have looked at some common clauses found in contracts like restraint of trade clauses‚ exclusion clauses and liquidated damages clauses. In addition to these‚ there are many other common clauses and the purpose of this exercise is to highlight these clauses as well. If you do a simple search in the Internet you will realize that many of
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INTRODUCTION The law of contract is the collection of legal rules which govern contracts. These rules‚ in turn‚ are part of the law of obligations‚ a subdivision of the law of property which is traditionally regarded as part of private law. Private law governs the persons (legal subject) in their personal or private capacity before the law in relation to other legal subjects. In other word‚ private law can be defined as balance and protect legitimate individual interests. Traditionally private law‚ being
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offer‚ acceptance‚ and consideration will not guarantee a legally enforceable contract”. Discuss. A contract is an agreement which normally consists of an ’offer ’ and an ’acceptance ’ and involves the ’meeting of the minds ’ or consensus between two or more parties with the intention to create a legally enforceable binding contract. Therefore in this essay‚ the four core elements needed for the formation of a contract such as offer‚ acceptance‚ and consideration and intention to create legal relations
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Dr. RAM MANOHAR LOHIYA NATIONAL LAW UNIVERSITY LUCKNOW. SESSION 2013-2014 A Project on " Immunity of agent- a detailed study" Under the Supervision of Dr Visalakshi Vegesna Assistant Professor Submitted by Umaima Shahnawaz B.A.L.L.B(Hons.) IIIrd Semester Roll no-147 ACKNOWLEDGEMENT I would like to express my special thanks of gratitude to my teacher Dr. Visalakshi Vegesna who gave me the golden opportunity to do this wonderful project on the topic " Immunity of agent- a detailed
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LAW OF CONTRACT NOTES INTRODUCTION. A contract is an agreement between two parties which is enforceable by law.An agreement is made when a person signifies his willingness to do or to abstain from doing anything with a view of obtaining the assent of the other party. Such act or abstinence is said to make a proposal.The person making the proposal is called the offeror and the person accepting the proposal is called the offeree TYPES OF CONTRACTS: Contracts may be classified into: -Written
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