There are four main elements that must be in a contract to deem it valid. The first of which is an offer. The offer is the initial start to any interaction from one or more parties intending to enter into a contract. An offer is defined as‚ the price at which an individual is willing to sell a security or commodity. This is the opposite of bid‚ which is the price at which an individual is willing to buy a security. An offer is the same as an Ask. The person to make the offer or have something
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Subsumption Theory (David Ausubel) Ausubel’s theory is concerned with how individuals learn large amounts of meaningful material from verbal/textual presentations in a school setting (in contrast to theories developed in the context of laboratory experiments). According to Ausubel‚ learning is based upon the kinds of superordinate‚ representational‚ and combinatorial processes that occur during the reception of information. A primary process in learning is subsumption in which new material is related
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In the Evolution Management video I learned there are four different theories‚ or approaches to Management. These theories are the classical approach‚ the behavioral approach‚ the systems approach‚ and the contingency approach. While all of these theories are good in their own way‚ there is one that I feel is more important than the rest‚ and that is the contingency approach. I am going to talk a little bit about these theories and explain why I feel this way. The classical approach has been
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Problem 1 a) Can Tim sue his father Jack on the basis that the parties intended to contract‚ and that sufficient consideration was applied? b) The relevant rules are every simple contract must be supported by consideration‚ a promise to fulfil the terms of a contract is not always good consideration‚ and the rule that an agreement that is commercial in character can amount to a binding contract c) Todd v Nicol [1957] SASR 72 (Supreme Court of Australia) d) Yes‚ Tim might be successful in court
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Case Study Case 1 A Sydney tramway passenger was injured in a collision with another tram‚ which occurred after the driver collapsed at the controls. The plaintiff argued that the collision could have been avoided if the tramway authority had fitted the tram with a system known as ‘dead man’s handle’‚ a system in use on Sydney’s trains. This would have stopped the tram and avoided the accident. The device had been rejected by the tramway authorities because it was felt that it could cause drivers
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Chapter 12 Legal Value * Promise to do something that one has no PRIOR legal duty to do. * A performance of an action that one is not obligated to do * Refraining from an action that one has a legal right to do (forbearance) Rescission- the opposite of forming a contract‚ and bring the parties to the positions they occupied before the contract was made Past consideration- no consideration or a promise to give another something of value in return for goods or services rendered and
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IN SCOTS LAW AND QUOTE AT LEAST ONE EXAMPLE. Each point of law has either a statutory source or a common law source. The statutory sources of law are: Legislation in the form of an Act of Parliament With effect from 1707 Parliament (comprising of the House of Commons‚ House of Lords and the Monarch) have produced Acts of Parliament (primary source of legislation) which may apply in Scotland. It is often difficult to draft new Acts that can apply to the whole of the UK as the law in Scotland
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BUSINESS LAW AND ETHICS Assignmen ( BA 3 ) : Teacher: David Mwaura Date of submission: 13/06/2012 Executive summary: -Introduction… -What is Corporate social responsibility ?... -Introducing Dell … -Csr strategy of Dell… -Environmental responsibility… -Ethics and compliance…
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Q1: What is a tort? Tort: A civil wrong not arising from a breach of contract; a breach of a legal duty that proximately causes harm or injury to another. Q2: What are the four elements of negligence? They are Duty‚ Breach‚ Injury‚ and Causation. Q3: Is Shannon liable for the tort of negligence? Yes‚ she is. First of all‚ she has been told by her physician that not to drive after taking the medication. Thus she has the duty not to drive in order to take care
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PBUS01—Summer 2013 Final Project Name: Alice 1. Case Name‚ Citation‚ and Court PETROLEUM REFRACTIONATING CORPORATION v.KENDRICK OIL CO. 65 F.2d 997 (1933) No. 774. Circuit Court of Appeals‚ Tenth Circuit. 2. Key Facts A. The Kendrick Company ordered a special grade of oil 1‚500‚000 gallons‚ 10% more or less from the Petroleum Corporation on January 15‚ 1932. B. Under the terms of the contract‚ the Petroleum Corporation agreed either to sell and deliver the oil or to discontinue making
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