A contract is an agreement between two or more persons, and is voluntary within Scots Law. It is one of two types of obligations, the other, a Promise. To form a contract, all parties entering must have the capacity – meaning they must be sane under the terms stated within the law. Those entering must be fully aware of what they are undertaking, having a sound understanding of the contracts terms. A contract has two principles that must take place for it to be finalized – an offer and an acceptance
Law Assessment Outcome 1 1) List the main sources of Scots Law? Legislation (Statute) Judicial Precedent Institutional Writers Custom 2) List any four Acts of Parliament from within the UK Statute of Westminster adoption Act 1942 Post-16 education Act 2013 4th road bridge 2013 National trusts act 2013 3) What is meant by the doctrine of judicial precedent and give an example? Judicial precedent refers to the sources of law where past decisions made by judges create law for future
4 Prudential Insurance V IRC 1904 2 KB 658 5 Scottish Amicable Heritable Securities V Northern Assurance Co 1883 11 R 287 5 Sloans Dairies V Glasgow Corp 1977 Scot CS CSIH_2 4 Wight V Brown 1845 11D 459 4 The concept of insurable interest and the alleged need under Scots law for the requirement of insurable interest by the insured in an insurance policy, have recently come under scrutiny. Why is this, and what should be done about the problems arising from the
Semester 1 The Law of Contract Essay Introduction The case study which I have chosen is Case Study 4. A contract is a legally enforceable agreement which the courts will enforce and it is between two or more legally distinct parties which is called a Bilateral Agreement, e.g. a buyer and a seller in a contract for the sales of goods. However it is possible for more than two individuals to be involved in a contract e.g. partners in a firm or shareholders in a limited company which is called a Multilateral
"The term 'electronic signature' means information or data in electronic form, attached to or logically associated with an electronic record, and executed or adopted by a person or an electronic agent of a person, with the intent to sign a contract, agreement, or record," according to Jon Udell. When digital signatures are used, the verification of the authenticity of data does not necessarily prove the identity of the signer that created the electronic signature. How does for instance
binding. In this particular case the Court of King’s Bench concluded the contract was formed when the letter of acceptance was posted on September 5th (Furmston, 2012, p.70). The decision in Adams v Lindsell did not instantly command uncritical acceptance. In 1880, in Byrne v Van Tienhoven, Lindley J said ‘It may be taken as now settled that, where an offer is made and accepted by letters sent through the post, the contract is completed the moment the letter accepting the offer is posted, even though
dominate the market based on innovating products, procedures, or practices. There exists difference between strategic orientations of entrepreneurial and small ventures. Not all small ventures work on innovations or dominance motive. (Matthews and Scot, 1995) The major things that investors are interested in are the rate of growth, return on investment Degree of risk and degree of protection. In general, report creation in Micro Strategy achieved through using integrated reporting, analysis
Question 1. Outline and describe the ways in which an Agency Contract may be established. Agency According to Nicole Busby, an agency is a contractual relationships that entitles one party to act on behalf, or in favour of, the other party in contractual arrangements with a third party. In this regardthese circumstances, the former is known as an “agent” and the entity on whose behalf the agent performs is called a “principal”. Generally, the agency relationships arises in commercial transactions
This essay will discuss the requirements for a legally binding contract, elements for establishing misrepresentation in a court and some elements of the Australian Competition and Consumer Act 2010. Mr Manfredi entered into a bilateral contact with Elvis Eggplant who is the director of the vegetarian café HappyHippie. Elvis Eggplant has induced Mr Manfredi to purchase the café HappyHippie by inflating financial accounts by 60% and supplying misleading information about future profitability of the
Question 1 The UK Rail vs. Smithfileld case is a striking example of the term – Agency of Necessity. This is the case when, in certain circumstances, the agent is allowed by law to take actions on behalf of the principal without the will, knowledge or any other representation of the principal. However, certain requirements have to be met, in order for the agent to claim that it acted out of necessity: 1) the actions have been taken for the reason of compelling emergency; 2) impossibility