P4 P5 Contractual Terms In A Standard Form Contract 2014

P4 P5 Contractual terms in a standard form contract 2014
Contractual terms in a standard form contract and the impact of statutes on these terms P4: Describe the meaning of terms. P5:Explain the effect of
terms. Task Using the Vodafone contract prepare a briefing sheet describing how statutes affect contractual terms. п
ЃЅ You should include the
following: пЃЅ A description of express terms пЃЅ A description of implied terms пЃЅ Identify and describe the statutes and regulations affecting
contractual terms пЃЅ пЃЅ (Remember to illustrate your answer with examples of cases) and make reference to your Vodafone contact for examples
Terms of standard form contracts As businesses have become more powerful with stronger bargaining positions, Parliament has passed more laws that
have had an impact on... Show more content on Helpwriting.net ...
They will do so in light of all of the circumstances of the case, such as the relative strength of the parties concerned. Exclusion Clauses пЃЅ Unfair
Contract Terms Act 1977 в—¦ Terms should be fair and reasonable в—¦ Terms should be reasonable e.g. "Cars parked here at owner's risk" в—¦ Special
consideration for consumer contracts в—¦ You cannot exclude liability for death or personal injury (see your contact) в—¦ cases Activity 3 п‚–List
different types of exclusion clauses used in the course of business Other statutes and regulations affecting contractual terms Electronic Commerce (EC
Directive) – online sales пЃЅ Consumer Protection (Distance Selling) Regulations 2000 – unsolicited goods and services пЃЅ Unfair Contract Terms
Act 1977 пЃЅ Unfair Terms in Consumer Contract Regulations 1999– courts can strike out unfair terms in consumer contracts пЃЅ Case Study
Mitchell v Finney Lock Seeds (1983) пЃЅ A farmer (Mitchell, the claimant) bought cabbage seed from the defendant (Finney Lock Seeds). When the
cabbage grew it was inferior and the wrong type. The defendant relied on an exclusion clause in its standard form contract excluding his liability. The
House of Lords held that the clause was unreasonable as the purchaser would have no idea of the defective nature of the crop until it grew. пЃЅ 1.
Explain how the seed company was trying to limit liability on the contract. 2. Explain why the House of Lords viewed this as unreasonable. Do you
think this is a correct approach? 3.
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Swot Analysis For Sand Sales
the market in sand sales, we have to operate differently. We must set negotiating parameters for the sales team, analyze our current agreements to
ensure compliance, work with IT and legal to force compliance for all non–compliant situations, and develop a contract management system going
forward that tracks not only the customer's contract compliance, but ours as well. This will be a large under–taking that will require time and
cooperation from the following departments: finance, billing, planning, logistics, sales, IT, Legal, and procurement. There are two different change
alternatives; one that will give us the ability to accurately forecast production and profit but that may make us a difficult supplier, and another that will
make us a better supplier, but will require a lot of contract compliance management tracking. Each of these change alternatives has certain risks that are
associated with it, but overall we must consider the option that brings our business more value, regardless of the amount of time or effort this change
will require. Finally, regardless of the change alternative the business chooses, we will need to procure and implement an enterprise–wide contract
management tool. 2.Business Need and Current Situation The current mismanagement of customer contracts is interrupting our supply chain and
logistics operations, which is negatively affecting our ability to fulfill obligations for other contract and spot–buy customers, which costs us wasted time,

What Are The Advantages And Disadvantages Of A...
INTRODUCTION
Because of their nature as being protracted contracts of an excessive cost, shipbuilding contracts may entail a number of serious risks for both their
counterparts, that may result to great damage in their financial standing.
While at the past years the shipbuilding market witnessed a period of economic boom, with a great number of shipowners ordering ships from the
shipyards of China, Korea and Japan (the dominants of the newbuilding sector) and signing the relevant shipbuilding contracts, the economic crisis of
2008, affecting the world/global/worldwide market as well as the shipbuilding market, came to cause great pressure and anxiety to the Buyers in the
above mentioned shipbuilding contracts, who felt now more than ever ... Show more content on Helpwriting.net ...
DIFFERENT TYPES OF CONTRACTUAL TERMS – PROPER DRAFTING FOR THE IDENTIFICATION OF CONDITIONS AND INNOMINATE
TERMS
An other challenge for the draftsmen of a shipbuilding contact is to manage to illustrate clearly and undoubtedly the true willing of the counterparts
and more importantly the terms of the contract that are of such importance to the parties that without their inclusion in the contract they would not have
contracted at the first place or a breach of whom makes the contract substantially different from that the parties intended.
In a breach of such a term the parties do no longer have an interest on continuing the contract, since that term is vital for the whole agreement.
Such a term is considered to be a condition that usually refers to the main points and aspects of the contract, in the root of the deal/agreement, rather
than in details of little

Sam Cheeseman Case
The contract is a legally–enforceable promise or a set of promises. The four elements of the contract are 1) the agreement, 2) the consideration, 3)
contractual capability, and 4) lawful object (Cheeseman, 2015, p. 188). These elements are required to exist for a contract between Sam and the chain
store to be valid. The first element of the contract is the agreement which is a combination of the offer and an acceptance which both need to exist.
The agreement between Sam and the chain store exists because Sam had verbally agreed to send 1,000 units to the chain store, as per conversation
with the store manager. The second element of the valid contract is the consideration which could exist if both parties, Sam and the chain store, had
agreed... Show more content on Helpwriting.net ...
The equitable doctrine of implied–in–law contract, a quasi–contract, would have allowed the court to award monetary damages to a plaintiff for
providing work or services to a defendant even though no actual contract existed between the parties (Cheeseman, 2015, p. 195). This would apply to
the situation in which Sam received some form of payment for his units before he shipped the units to the store. In this case, Sam would have been
under the legal obligation to send the units to the chain store. Promissory estoppel (or detrimental reliance) is an equity doctrine that permits a court to
order enforcement of a contract that lacks consideration (Cheeseman, 2015, p. 220). Promissory estoppel is used to avoid injustice. The elements of
the promissory estoppel include the promisor making a promise, the promiseГ© replying to the promise, the promiseГ© taking action on the promise,
and experiencing injustice when the promise was not enforced. The promissory estoppel in this case is invalid because there was no discussion about
the compensation in return for the 1,000 units, no action based on the promise, and no injustice suffered as a result of fulfilling a

Plaintiff Case Study
Plaintiffs' allegation that they suffered a constructive eviction is also legally deficient. Although a tenant is justified in abandoning the premises if a
landlord's breach renders the premises uninhabitable, a tenant waives the landlord's breach if she does not vacate the premises within a reasonable
time. Shaker & Associates v. Medical Technologies Group, Ltd., 315 Ill. App. 3d 126, 135 (1st Dist. 2000). Various factors are considered when
determining whether the length of time before vacation is reasonable, such as promises by the landlord to repair and time required to find a new
location. Id. While the question of what constitutes a reasonable time for vacation is usually a question of fact, "it may become a question of law."
Chicago... Show more content on Helpwriting.net ...
Despite these opportunities, Plaintiffs still have not filed a complaint that complies with section 2–603 of the Code, and therefore, this Court should
strike their complaint with prejudice. Further, Plaintiffs have not alleged sufficient facts to sustain an anticipatory repudiation of a contract claim, and
have waived any claim based on a constructive eviction. Finally, Plaintiffs cannot maintain their breach of contract causes of action because, by their
own admission, they failed to perform their contractual obligations. Therefore, Counts V, VI and VII should be dismissed with prejudice.
WHEREFORE, pursuant to 735 ILCS 5/2–603(a) and (b), Defendants respectfully request that the Court grant their motion and dismiss Plaintiffs' Third
Amended Complaint for failing to plead a plain and concise statement. In the alternative, pursuant to sections735 ILCS 5/2–619.1, 2–615, and
2–619(a)(9), Defendants respectfully request that the Court grant their motion and dismiss Counts II, V, VI, and VII of Plaintiffs' Third Amended
Complaint and request such further relief as the Court deems just and

Case Analysis : Oil And Gas Industry
A claim is commonly regarded as a four–letter word which draws the line in the sand between the contactor and the employer. It is a better strategy to
manage claims instead of behaving them in an emotional and inappropriate way which make them to legal actions. Claims are normal issues in oil
and gas projects and are considered as rights of parties. We are not allowed to insert a term or provision which deprives parties of this right, entirely.
Claim is a right which must be demanded by a party and has to have legal and contractual evidence. Otherwise, it would be a false and unrealistic
claim. So, the claim is a written statement by one of the parties relies on the right of he/she demands other party or it is possible that one of the... Show
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In upstream industries D phase is also a risk taking phase. It means that if the contractor do not reach the considered production rate after exploration
and Commercialization, there will be no sum which is allocated to him and he could not have any claim. So, in upstream, from phase E till P claims
are more important and have higher contents. Depends on the types of contracts and agreements of the MARYAM GHAEM 2 parties types of claims
might be different. In this period obligations of the employer are in minimum level, but contractor`s commitments and obligations are in maximum
level. So, the number of claims is low. In production phase the number of claims is usually more because parties have obligations to each other and
their mutual obligations affect their incomes, directly. In addition, claims which are not suitable to put forward, in this phase, because of reaching to
products, are demandable. Contractor documents claims in D&A&E phases and demands these claims in production phase. In claim area, we are not
facing the actions and omissions of our period, but their causes were in past and were documented. International companies have the structures of
claims from the beginning of the contractual process and document them from now for following years. Also, the main flaw of the oil companies (host
countries) is in this period because it is the beginning of the contract, they do not consider claims and demands of the end of the contract. For this main
reason, Risk

Employment Law Essay
In order to discuss and analyse the above statement, in depth reference will be made to various documents which can in some circumstances relate to
contracts of employment and whether those particular documents which are not contractual can be incorporated into a contract, creating legal
enforceability for employers and employees. Firstly it must be established what exactly is a contract of employment.
A contract of employment is an agreement between an employer and employee, forming the basis of an employment relationship; enforceable by law.
Contracts of employment may be given orally or in writing: Employment Rights Act 1996 s 230(2) and commence immediately. Actual written
contracts require an employee's signature and the signature of ... Show more content on Helpwriting.net ...
The case of Gascol Conversions v Mercer demonstrates an instance whereby the statutory particulars were held to be the contract, as the statement of
the written terms had been sent to the employee who had signed them and a receipt. In other words he was agreeing that the document accurately
represented the terms of the employment, he had signed what he acknowledged to be a written contract. Clearly demonstrating that a document that is
not itself contractual can be incorporated into a contract, it is thus possible for what would normally be a section 1 statement to be transformed into a
formal written contract by the parties signing it . Later cases showed a somewhat opposing view
System Floors (U.K.) Ltd. v. Daniel
[1982] I.C.R. 54, noted (1982) I.L.J. 118. Employment Appeal Tribunal.
This was not really a contractual term at all, but a factual statement, probably inappropriate for inclusion in a contract.
When starting employment, employees will often be provided with a substantial amount of documents, these may be in the form of works rules,
company/employment handbooks and policies. Documents like these could if proven, have some contractual effect by way of express or implied
incorporation or custom

Apply The Relevant Express Terms Of Employment
1.Explain and apply the relevant express terms of employment In every employment contacts terms and conditions you will seek to find express
and implied terms. They are set out in the contract, they can be usually found in the letter of appointment or in the written contact of employment.
Which have been designed and mentioned either orally or written, and agreed by both the employee and employer. Some examples of express
terms of a contract can be for example ones probationary period, a set time normally at the start of ones employment to monitor the progress of
ones work. Other main express terms of employment are the main express terms are usually: The rate of pay, and how often the employee will be
paid; The hours of work, e.g. at what time will they start and finish work. Any terms and conditions relating to holidays and holiday pay; Sick pay;
Notice pay; and The disciplinary rules and grievance procedure. 2.Explain and apply the relevant employers implied terms of employment Implied
terms of employment are terms, which are not identified between an employee and employer, these are broad terms, of which there are 4 types.
These are Terms implied in fact, terms implied by custom or practice, terms implied by law, and terms implied by statue. Terms implied in fact
usually used to make logic of what was written down in an employment contract Which cover most of the issues or the wellbeing of one in a place of
employment. For example some basic terms

General Release Case Study
5.General Release. (a) In consideration for the mutual promises herein, and for other good and valuable consideration (the adequacy of which is hereby
acknowledged), Plaintiffs hereby completely releases and forever discharges Martin from any and all claims, causes of action, damages (including but
not limited to compensatory damages and punitive damages), liabilities, expenses, fees and costs, that Plaintiffs ever had, now has, or may in the future
claim to have against Martin resulting from, arising out of, or connected directly or indirectly with the Lawsuit, including without limitation, any
losses, injuries or damages, whether anticipated or unanticipated, known or unknown, attorneys' fees, costs, and any claims of any kind or... Show more
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Martin acknowledges and agrees that this Release and discharge is a general release. Martin expressly waives and assumes the risk of any and all
claims for damages and expenses that exist as of this date, but of which the Martin does not know or suspect to exist, whether through ignorance,
oversight, error, negligence or otherwise, and which, if known, would materially affect Martin's decision to enter into this Release. Martin accepts the
considerations set forth herein as a complete compromise of matters involving disputed issues of law and fact as alleged by the Parties in the Lawsuit.
Martin assumes the risk that the facts or law may be other than Martin believes. It is specifically understood and agreed that Martin hereby waives any
claim of costs, interest, pre–settlement, post–settlement or otherwise, and attorney's fees against Plaintiffs. 6.No Admission of Liability: This Release
shall not be construed as an admission of liability by any of the Parties. The Parties understand and agree that this settlement

Ethical Considerations Behind New Alternatives to Abortion.
Eric Bronkhurst
Prof. Robinson
10/31/06
Question #2 With technological advances of today, parents who are unable to substantially procreate are now given the opportunity to bear children.
New techniques for procreation include Artificial Insemination, Surrogacy and In–Vitro Fertilization, all which have brought about happiness to
families. Unfortunately, at the same time many of these new reproductive techniques may bring about ethical considerations and debates, causing pain
and legal arguments. All of these ethical considerations warrant governmental and contractual regulation as a way of guidance in handling these
situations. The ethical considerations and debates that surround many of these new reproductive techniques are ... Show more content on
Helpwriting.net ...
Whitehead was permitted to view the child on a weekly basis which in my opinion disregards the best interest of the child. (Appleton, 1107) It is
understandable that a woman 's connection and bonding to the child during pregnancy can have a huge impact on one 's life, but in this case you must
also take into consideration the intended parents. If the government had stricter regulations regarding the contractual agreement proposed prior to the
surrogacy, the whole issue wouldn 't have been brought forth. I believe the government should require a certain time period for mental contemplation or
counseling which would determine whether the surrogate mother was capable of going through with the pregnancy. By claiming that the contract
infringement doesn 't violate the Stern 's constitutional rights is invalid because it denies Mr. Stern personally the right to not procreate. A contractual
obligation must be strict because if the contract is disregarded, then it puts a sort of questionable authority on the government, and the meaning behind
a contract degenerate. When going into surrogacy, the intentions were based upon having a child for his wife and himself, not to adopt a woman 's
child who used his sperm. Government regulation is warranted due to this fact that contract infringement could violate ones ' constitutional rights as

Bettini V Warranty
Traditionally terms were classified as either conditions or warranties. A condition can be defined as a major term of the contract which goes to the
root of the contract. If a condition is breached the innocent party is entitled to end the contract and claim damages. An example of a condition
breach of a contract is Poussard V Spiers (1876).where Madame Poussard entered into a contract with Spiers as and Opera singer and became ill
days prior to the opening night and as a result was unable to perform for the first four nights of the show. Spiers then replaced her with another
singer. The court held that Madame Poussard was in breach of condition and Spiers was entitled to end the contract. Warranties on the other hand are
minor terms of a contract, which are not central to the existence of the contract. If a warranty is breached the innocent my claim damages but cannot
terminate the contract. This is evident in the case Bettini V Gye (1876) where Bettini entered into a contract as an Opera singer with Gye. He became
ill and missed six day of rehearsal, his employer fired him and replaced him with another singer. It was held that Bettini was in breach of a warranty
and therefore the employee was not entitled to end the contract, missing the rehearsal did... Show more content on Helpwriting.net ...
As this was not the case, the breach did not justify termination. What Lord Diplock was escentially trying to convey is that there should be more
flexibility to treat breaches of contract looking at the nature of the event which causes the breach and the consequences which result of the breach. He
also said that very trivial occurrences as well as serious defects such as a total loss of the vessel are treated in the same way, which gives the charterer
the right to elect whether to terminate a contract or

Questions On Iran Oil And Gas Project
METHOD 4 : STATISTICAL ANALYS I S So far this paper has discussed the use of bands or single 'best guess' estimates of the impact and
probability of each risk to represent its importance. However, this simplifies reality. Now, here in the following table we try to identify and quantify the
main issues in Iran oil and gas project, in respect of model 2(high, medium, law risk) TEFCEL ELEMENTSInputTools & Techniques( Quantifying the
time and cost):Output Technical/TechnologicalScope of contract (upstream/downstream) E&P? EPC? TK? WBS? Milestones? reports Model 2
1–Statement of claim EconomicDelay in paymentFinancial/Fiscaltax? SSO? Retentions? Delay in financial injection to projectCommercialDelay in
delivering the material, Long lead items. ContractualSuspension in the project due to company, liquidated damage, guarantees (performance, advanced
payment,...), delay in permissions, access, certificates? Approval of reports,... EnvironmentalPolitical, social, cultural, varieties of stakeholders,
LegalSuspension in project due to forcemajor, impacthigh Suspension in project due to forcemajor, Political, social, cultural, varieties of
stakeholders,Delay in payment,Delay in delivering the material, Long lead items. Delay in financial injection to project low probabilitylowhigh In Iran
project due to some weak especially in scheduling and estimation of cost and time, the claim are so common. Changes in circumstance

P4 P5 D1
P4: Describe the meaning of terms in a standard form contract P5: Explain the effect of terms in a contract D1: evaluate the effectiveness of terms in
a given contract In this assignment I will be... Describing the meaning of terms in a standard form contract. Explaining the effect of terms in a
contract I will also be evaluating the effectiveness of terms in a given contract. A standard form contract is a contract made between 2 or more parities
using their standard set of terms. A contract is a set of mutually agreed promises made between 2 or more parties with the intention of creating a legally
binding agreement. It is important that the people involved in signing the contract know exactly what they are agreeing to. Types of terms... Show more
It is very common in business contracts to not only have express terms relating to conditions and warranties but also have a common express key terms
included in the contract. For example, these may include... * Exclusion clauses limiting the parties' responsibilities under the contract * Terms relating
to the amount of damages that the parties might receive if things go wrong. * Terms allowing parties to vary the contract price known as a price
variation clause. Implied Implied terms are not general stated in a contract. Implied terms are introduced into the contract by statute, custom and
common law. Terms implied by statute To protect both parties in the Co
–operative UK breakdown cover contractual agreements, terms are implied into
the contract by virtue of legislation. The best example for the fault is the sale of goods act 1979. This sale of goods act has certain terms that have
to be followed, such as... * Every seller has the right to sell goods. * Where there is a sale of goods by description there is an implied condition that
the goods will correspond with that description. * Goods sold are of satisfactory condition and that they are fit for the particular purpose stated. * The
sample sales have an implied term condition that the bulk order must correspond with the sample. For example, if the Co–operative UK breakdown
cover have stated something in their contract and

The Implementation Of Refurbishing Buildings
Introduction
The process of refurbishing buildings can be a lengthy and complex procedure. The outline of tasks and stages that have to be completed during
project and when the building will be in use is presented below. This is a simple diagram of RIBA Plan of Work 2013– bespoke planning tool used in
the industry – full version is available in the Appendix 1. (RIBA, 2013a. p.16)
Before we proceed with refurbishment planning I will have to carry out necessary surveys. Measurement – to assess the size of the building which will
help in evaluating quantities; structural – to get an idea of needed demolition, services that are in place and the possibility of providing new ones and
asbestos survey – which is necessary precaution to address hazards in the building.
In this report I am going to analyse the procurement routes that would be suitable for your project. I will outline tendering process and present the
standard forms of contracts available. At the end, I will advise on the best fit solution – but the final decision on how we will proceed with this project
is entirely yours.
Procurement
'The procurement strategy identifies the best way of achieving the completion of a construction project – taking into account the best value for money
over the entire life cycle of the building or facility' (RICS, 2013. p. 21). There are three routes of procurement that could be adapted for your project:
пѓјTraditional Procurement
пѓјDesign – Build Procurement
пѓјManagement Procurement

Aviation Industry
PRINCIPLES OF AIRCRAFT IN–SERVICE PRODUCT SUPPORT & CONTRACTS MANAGEMENT
Mar 2013
a) Aircraft Product Support
The product support is defined as a set of aftermarket services, processes and procedures established by the aircraft manufacturers to assist the airline
operations and to ensure that the aircraft and its components remain functional during the life time of the aircraft.
In order to achieve this sustainable support, the aircraft Manufacturers produce tri–partite Agreement with Airlines and suppliers to define all the terms
and conditions that govern such in service support.
The main aspect of product support revolves around materials and airline inventory cost optimisation. In the next few paragraphs, ... Show more content
on Helpwriting.net ...
A2)Support Materials Cost reductions– Warranty claims
The warranty terms and related contractual remedies are considered for the airline, one of the main sources maintenance costs reduction in case of
reported failures. The warranty effect normally extends 48 months out of Aircraft age. The airline incurs only routine maintenance costs during this
period if they have introduced efficient processes to capture all warranty opportunities. Some airlines with MRO attachment can also generate some
profits from the warranty business where they recover the costs plus a certain margin they made out of manpower either from their own airline or a
third party airline customer.
The Introduction of new aircraft received with a comprehensive warranty support normally during the first years of aircraft age hence contributing
significantly to maintenance cost reduction. The guarantees last for much longer normally ten years of Aircraft age. It is anticipated that during this
period and in case of reliability issues, OEMs will intervene and offer product support which includes free repairs/loaner and modification.
Furthermore, the OEMs provide below remedies under the PSA terms:
– Free of charge repairs/replacements for parts.
– Materials and Labour reimbursement cost for defect corrections.
– No charge replacement parts for rogue parts.

– Labour reimbursement

The Oil And Gas Industry
One of the most capital intensive and globalized industries is the energy sector because of its operations that are inherently complex. As such, the oil
and gas projects experience overruns of costs that exceeds 100 percent at times, which have created the need for adoption of new contracting strategies
(Schramn, Meibner, & Weidinger, 2009). The risks in most cases are contractually distributed and shared among the energy project stakeholders instead
of leaving it to the owner. Some of the risks include the reputational risk, environmental risks, and the disasters experienced and which exposes the
companies to the costly process of litigation. Accordingly, the oil and gas industry fails to achieve different aspects of the overall strategic business
goals because of the challenges that occur in the projects undertaken (Chanmeka, Thomas, Caldas, and Mulva 2012). Such problems might be
categorized around the allocated budget and at the level of quality within set schedules. Moreover, Sack and Harel (2006) assert that another challenge
associated with the oil and gas industry is finding the capable consultants/contractors, and the improper tendering competition. Furthermore, there is a
persistent problem, which is evident in most consultants/ contractors who are reluctant to adopt the contracting strategies that are unique to the
individual oil and gas projects (Schramn, Meibner & Weidinger, 2009). The problem include the project procedures, procurement methods, legal

Post Contractual Contract Principles And The Insurer
Post–Contractual Contract
Secondly, the insurer must demonstrate post–contractual conduct. This includes handling claims and to make reasonably timed payments, but as
mentioned, the current law does not require the insurer to compensate for late or non–payment of a claim. In contrast, under Scots Law the courts
follow the ordinary contract principles and the insurer has an obligation to pay a claim once it has had an opportunity to be investigated. If there is
an unjustifiable delay, or the insurer wrongfully denies liability, it will be liable to pay the assured damages for any reasonably foreseeable loss
suffered as a result. This would be a satisfactory change to make in insurance law in England and Wales as it would enable equality to ... Show more
In 2014, 37% of small and medium–sized enterprises (SME) reported having cash flow problems and 66% of these stated that late payment was the
reason for this. Not only will time be spent attempting to recover their losses but it may leave a business unable to invest and have repercussions for
supplies, customers, employees and their families. Upon breach of a warranty by the assured, the insurer is discharged from all liability as from the
date of the breach regardless of whether the assured acted fraudulently, negligently or innocently, and regardless of whether or not the breach was
subsequently remedied. Both obligations of the insurer that have been analysed represent the need for change in insurance contract laws, as the current
laws provide disadvantages for the position of both parties.
Exceptions to the general rule
Additionally, it has been found that even in cases where an express term, promising the prompt payment of a claim, has been included within the
contract, the courts are unable to accept this. In Tonkin v UK Insurance Ltd a household policy contained the term stating that the insurer will provide
protection as soon as is possible 'but the judges rejected this claim and reinstated the principle outlined in Sprung, that they would and will not award
damages on damages. The court appear to be bound by this decision, again reinforcing the current laws detrimental affect on the assured. On the basis
of this, a reasonable change to be made would be to

Gap Analysis : Gap Filing Mechanism
Gap filing mechanism: It means that the contract should not consist of every detail because it causes a lengthy contract which is not appropriate for
anybody. So, they have to draft it in a way that it would contain necessary information and if any gap is seen in the contract the contract they have to
decide on the way which they opt for filling these gaps or they can determine a specific law or attachment to refer when they face such gaps. Foreseeing
Increased Material and Equipment Costs: By making efforts to overcome material shortages or high market demand due to time differential and
evaluate original pricing compared with proposed price. Inserting insurance terms in the contract: Inserting insurance terms is one of the ways to
manage the contract that decline claims because when damage occurs the important issue is about the compensation and the way by which damage and
costs will be covered and paid by insurance company. Related to this issue the contractor has two responsibilities. One of them is about inserting these
kinds of terms in the contract and the other is about overseeing on fulfilling of them. inserting an exclusion clause: Commitments and provisions which
are impracticable through the fulfilling of the contract must be excluded. For instance, exclusion of acceptance the force majeure. Guarantee rate of
return: When you guarantee the ROR there is no probability of claiming. Aforementioned ways and some others are extremely useful to

The Long Standing General Rule Of English Law
he government is to reform the long standing general rule of English law under which a person can only enforce a contract if he or she is a party to
it. The Contracts (Rights of Third Parties) Bill is progressing through Parliament and is expected to be enacted in the summer of 1999. It will come
into force six months after enactment, but it will not apply to contracts entered into before it comes into force (FirstSource, PLC, 1999, X(1), 57).
The Bill implements recommendations of the Law Commission. It will bring English law more closely into line with other systems of contract law
(including New York law) by enabling persons who are not parties to a contract to enforce rights under that contract.
The new law will have significant ... Show more content on Helpwriting.net ...
English lawyers have deployed a variety of devices to overcome the privity of contract rule. These include the use of trusts, deed polls, agency
arrangements and assignment and novation provisions. The need for these devices will have to be reconsidered in the light of the new law.
New third party rights
The new law will give a third party rights to enforce a contractual term if the contract expressly so provides or if the term confers a benefit on the
third party. The third party must be identified (by name or as a member of a defined class) but does not have to be in existence when the contract is
made. The third party then has the same rights to enforce the contract as if it were a party to the contract. This also means that third parties can rely on
a contractual term excluding or limiting the third party 's liability.
These rights supplement and do not take away any rights that the third party would otherwise have under the existing law. The new law also cannot be
used to impose direct obligations on third parties. However, the contract can require third parties to comply with conditions if they want to enforce the
rights conferred on them.
Amendments
The contracting parties will not be able to amend the contract to vary the third party 's rights without the third party 's consent, once those rights have
crystallised. This will normally be when the third party communicates its assent to the contract or the relevant contracting

The Case Study Deals With The Doctrine Of Estoppel Essay
The case study deals with the doctrine of estoppel, which states that the court can prevent a litigant from taking the matter to court where in normal
circumstances, it could have taken place in order to prevent an inequitable result on the other party. In that, estoppel occurs when one party depend
on the promise of another party and with that reliance that the party get injured or damaged. Therefore, estoppel impedes a person from asserting
anything to the contrary to what is stipulated or is in contemplation with the law, or has been established as the truth by judicial or legislative acts. In
this case study, Mr. Roberts relied on the promise that was made to him by Mr. Martin, who was the managing director of the Composters Company
Ltd. The promise stated that their contract would be extended for another four years if they would comply with the rules and regulations that have
been set on producing wheat straws. Therefore, Mr. Robert would make a claim under promissory estoppel stating that composters should stay true to
their word and the promise they made to Mr. Robert as he relied on the promise and bought machinery to produce what straws for the two seasons.
Promissory estoppel states is a doctrine under estoppel that provides if a party to the contract changes his or her position either by acting or by
forbearing from acting in reliance upon a complimentary promise, then that party can enforce the promise even though the essential elements of a
contract are

Commercial Law "Contents" Flow Chart- for Fpbl
Contents of Contract Flow Chart
Statements made during negotiations
Conditions and Warranties
Implied TermsExpressed Terms
Terms
Discharge of the Contract
Discharge of the Contract continued
Remedies available for breach of contract
–––––––––––––––––––––––
Express terms:
Whether any dispute arises as to meaning of a contract it becomes necessary to construe (interpret) the terms of contract in order to ascertain intention
to parties.
Where contract is made orally, express terms of contract will be ascertained by determining the words actually used by the parties when contract was
made. This is essentially a question of fact.
If the contract has been reduced to ... Show more content on Helpwriting.net ...
One of the contracting parties may have (incorrectly) considered the representations to be terms.

Note: depending on the circumstances of a particular problem, the party who thought the misrepresentation was a term may have a legal action in other
areas of contract law, eg fraudulent misrepresentation, s. 52 TPA (misleading and deceptive conduct)
Statements made during negotiations may be: A term, A collateral contract A misrepresentation A puff.
Terms and Collateral Contracts:
If a document is signed then the parties to the agreement are bound by the contents of the documents signed read L'Estrange v Graucob (p219)
Unless there is a misrepresentation as to the contents of the document read Pukallus v Cameron(p249)
If the document is unsigned or the agreement is verbal then the courts may have to determine the terms of the contract. The courts have developed tests
over the years to assist them in identifying terms. These tests focus on the importance of the statements in issue to the parties, the time period between
the statements and the contract being formed, the specialist knowledge of either of the parties about the subject matter of the contract, and the
language used by the contracting parties.
If the representation is not a term of the contract the court may determine that it is a term of a collateral contract. A collateral contract is formed when
a promise is made to

Termination for Convenience Clauses in Building...
1. Infrastructure, building and construction contracts often contain so called "termination for convenience" provisions, operating independently of
breach, default or frustration. Termination of a contract has been considered as the legal consequence of certain kinds of breach, repudiation or
frustration. Frustration is automatic. Breach and repudiation arise where default has occurred. 2. Provisions for termination at the convenience of, or
at the will of the contracting parties, or any one or more of them, have become known as "termination for convenience provisions" (referred to in this
paper as "TFC") or "termination at will" provisions. 3. TFC can be invoked in circumstances agreed by the contracting parties (for example, at... Show
The decision in The Amphitrite was controversial, but the existence of the doctrine was not. Thus, citing The Amphitrite, Mason J. said: "in the
absence of specific words, an undertaking which would affect the exercise of discretionary powers to be exercised for the public good, should not be
imputed to the Commonwealth". 10. Although the existence of the principle was not doubted, the reasoning of Rowlatt J. seemed to be that no
contract existed at all because of the doctrine. The reasoning suggested an absence of capacity to contract. If so, The Amphitrite was wrongly decided .
The circumstances in which the doctrine applied and consequences of its application have not proceeded on the basis of an absence of capacity in the
Crown and its instrumentalities to contract. Rather, issues of damages for breach or compensation were pursued. 11. There is no doubt about the
existence of the Doctrine in Australia and the United Kingdom. Its application was implicit and overriding, albeit within a narrow compass. A contract
validly entered, could not bind a government or statutory corporation from exercising its statutory powers, absent some statutory prohibition, to the
prejudice of the other party. Strictly, properly invoking the doctrine was not a breach of contract. Neither was it a frustrating event. It did not sound in
damages contrary to the argument of Hogg. Invoking the doctrine to terminate a contract may be the subject of administrative review

Theme Of Christian Justice In The Play 'Measure For Measure'
The title – Measure for Measure – gives us a glimpse into what resonates in this play– the exchange or trade of one for another. On the surface, the play
seems to be accepting this kind of "contractual justice", which is seen as conventional throughout the play. However, beneath the surface, as pointed
out by Manderson J, 'there is [...] a kind of contempt for the idea of contract in Measure for Measure.' Shakespeare is trying to point out that strictly
abiding to contracts or rules is not the way to uphold justice. The flaws in the idea of contract become the barrier to achieve justice. 'Shakespeare's
ideas about justice help lawyers understand the interplay between "mercy" and "justice".' Shakespeare's ideal Christian Justice is presented in the play
by emphasizing on the indispensability of one's moral conscience and mercy. This paper will discuss Christian Justice presented in the play... Show
The contract made between rulers and citizens, it is called "social contract". 'The authority to govern, social contract theorists contend, is ceded by free
and equal individuals who accept the arrangements as being conducive to the pursuit of the public good.' 'Government is based on the principle of
consent.' Thomas Hobbes, in Leviathan, argues that 'the only way to secure peace, security and order is for everyone by covenant to relinquish their
natural rights and submit to the authority of a coercive power, which through the threat of punishment, will ensure that promises are kept and rules
obeyed.' 'This [social] contract is constituted by two distinguishable contracts.' 'First, [the people] must agree to establish society by collectively and
reciprocally renouncing the rights they had against one another in the State of Nature.' 'Second, they must imbue some one person or assembly of
persons with the authority and power to enforce the initial

The Law of Contract
Law of Contract
The word "Contract" means a legally binding exchange of agreement or promises between two parties which the law can enforce. Contract law is
originated from the Latin phrase know as "pacta sunt servanda" means promises has to be kept. Any kind of violation of any kind of contract is fully
recognized by any law of the land and the result of such violation can be provided. In general life, almost every citizen makes contract everyday. For
example, when purchasing a house, written contract is required.
However, in most cases majority of contracts are made verbally, for example in a case where a student purchasing a biology textbook from a fellow
student, or purchasing a pizza at the Pizza Hub. Contract law can also be categorized as is habitual in civil law systems, as part of a general law of
obligations along with tort, unjust enrichment or restitution.
Puff
It's a statement from any person such as sales talk which does not contain any legal relations. Therefore anything heard from a puffer has no action in
contract and such statements are normally taken to be wrong. The puff does not result to any liability because it doesn't contravene any section of the
law.
Representative
It's defined as a pronouncement, statement or any declaration of truth made in persuading another party or person into an agreement and which does
induce them to go into an agreement, but the author of the statement only intended to deceive the partner by providing a false

Essay on Grant-Date Fair Value
MEMORANDUM Statement of Facts On January 1, 2006, Sooner or Later Inc. granted 1,000 "at–the–money: employee stock options which will vest
only if cumulative revenue over the following three–year reporting period is greater than $10 million and the employees are still employed by Sooner
or Later Inc. They adopted ASC 718, Compensation–Stock Compensation in 2005. 1. The grant–date fair value of each award is $9. With the revenue
target factored into the fair value assessment the grant–date fair value is $6. 2. Management believes it is probable the company will achieve
cumulative revenue in excess of $10 million. 3. The requisites to vest were fulfilled. Revenue of $2 million, $5 million and $4 million was collected in
... Show more content on Helpwriting.net ...
Market conditions that affect an award's fair value (including exercisability) are included in the estimate of grant–date fair value (see paragraph
718–10–30–15). Performance or service conditions that only affect vesting are excluded from the estimate of grant–date fair value, but all other
performance or service conditions that affect an award's fair value are included in the estimate of grant–date fair value (see that same paragraph)." c.
Due to the inclusion of the pertinent factors phrase and the fact that market conditions affect an award's fair value, the $6 grant–date fair value, with
the revenue target factored in, is a more precise value. 2. Sooner or Later Inc. should recognize compensation cost over the three year reporting period.
d. ASC 710–10–25–9 addresses the recognition of deferred compensation arrangements. It states: "To the extent the terms of a contract attribute all or
a portion of the expected future benefits to a period of service greater than one year, the cost of those benefits shall be accrued over that period of the
employee's service in a systematic and rational manner." The compensation costs associated with the stock options should be allocated over the
three–year reporting period. e. ASC 718–10–25–2 states that, "an entity shall recognize the services received in a share–based payment transaction
with an employee as services are received." As the

Essay about Hold Up Problem
FISHER–GENERAL MOTORS AND THE NATURE OF THE FIRM* BENJAMIN KLEIN University of California, Los Angeles Abstract After
working well for more than 5 years, the Fisher Body–General Motors (GM) contract for the supply of automobile bodies broke down when GM's
demand for Fisher's bodies unexpectedly increased dramatically. This pushed the imperfect contractual arrangement between the parties outside the
self–enforcing range and led Fisher to take advantage of the fact that GM was contractually obligated to purchase bodies on a cost–plus basis. Fisher
increased its short–term proп¬Ѓt by failing to make the investments required by GM in a plant located near GM production facilities in Flint, Michigan.
Vertical integration, with an associated... Show more content on Helpwriting.net ...
Fisher then refused to make the necessary capital investments required to produce bodies efп¬Ѓciently for GM, in particular refusing to build an
important body plant close to a GM production facility in Flint, Michigan. These contractual difп¬Ѓculties were the primary reason GM decided in
1926 to vertically integrate with Fisher Body. The marked change in Fisher's behavior between the early 1919–24 period and the later 1925–26 period
provides important insights into the basic economic forces at work in contractual arrangements. Similar to a biologist 3 Surveys of these studies are
provided in Paul L. Joskow, Asset Speciп¬Ѓcity and the Structure of Vertical Relationships: Empirical Evidence, 4 J. L. Econ. & Org. 95 (1988);
Howard A. Shelanski & Peter G. Klein, Empirical Research in Transaction Cost Economics: A Review and Assessment, 7 J. L. Econ. & Org. 335
(1995); and Keith J. Crocker & Scott F. Masten, Regulation and Administered Contracts Revisited: Lessons from Transaction–Cost Economics for
Public Utility Regulation, 9 J. Reg. Econ. 5 (1996). 4 R. H. Coase, The Acquisition of Fisher Body by General Motors, in this issue, at 15. 5 Robert F.
Freeland, Creating Holdup through Vertical Integration: Fisher Body Revisited, in this issue, at 33. 6 Ramon Casadesus–Masanell & Daniel F.
Spulber, The Fable of Fisher Body, in this issue, at 67. fisher–gm and the nature of the firm

Lender Liability and the Duty of Good Faith
Lender Liability and the Duty of Good Faith I.Introduction From time to time, lenders and their attorneys announce that lender liability is no longer
an issue with which the lending community needs to be concerned. What usually prompts this proclamation of the death of lender liability is a
recent case in which a court has summarily rejected a borrower 's claim that the lender violated the duty of good faith and fair dealing. Many courts
have rejected borrowers ' lawsuits which are based on allegations of the violation of the lender 's duty of good faith. Nevertheless, lender liability
should continue to be an area of concern to lenders. Although courts often dismiss cases based on a borrower 's claims of lender bad faith, in other...
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Then a discussion of the objective and subjective test of good faith will take place before finally concluding that the good faith obligation should not
be imposed in debtor–creditor situations to override express terms of a contract. II.The U.C.C. A.The Good Faith Performance Obligation and the
U.C.C. The central provision of the U.C.C. 's good faith requirement is found in В§ 1–203, which provides that "every contract or duty within this Act
imposes an obligation of good faith in its performance or enforcement." With regard to debtor–creditor relationships in particular, this obligation of
good faith performance imposes on a lender a duty to deal in good faith with its borrower in all situations, not only in situations where, because of the
circumstances of the loan, the lender has assumed actual control over and a fiduciary responsibility for the borrower. One troublesome but important
aspect of the good faith performance obligation is its application to contracts, which provide that one party to the contract may, in its "sole discretion,"
take certain actions pursuant to the contract. In such cases, the actions of the party who can exercise its discretion may affect all parties to the
contract, and dependent parties must rely on the "good faith" of the party given the right to exercise its discretion. Often, the discretion exercised by
the party in control will adversely affect the dependent party. However, it does not necessarily follow that

Greenleaf Manufacturing Case
There are six elements that constitutes a valid contract. A contract can be formal or informal depending on the outcome that Mrs. Smithson is
looking for. The four elements of a valid contract are offer, acceptance, consideration, and capacity. An offer or a promise is considered to be an
agreement, if there is no offer then there cannot be a contract. Offer is there to make sure that the contract is legally binding or acceptable. If an offer
is accepted then it is considered to be legally valid contract. The contract is made when there is acceptance from the other person or party. If, however
the parties are still in negotiation then there is no contract because it can only be formed when there is an agreement between the two parties. The...
There are eight contractual provisions that Gloria needs to consider in order to reduce or prevent threat and impact of litigation, they are;
indemnification, limitation of liability, insurance, termination provisions, automatic renewal, default provisions, entire agreement clause and dispute
resolution. An indemnification clause in a contract is there to make sure that the company is not liable for losses or damages to a third party. The
reality is that indemnification is there to shift liability away from Gloria's company. Limitation of liability limits the type certain claims that can be
recovered under a contract. It limits a party's liability to a fixed monetary amount. Every company needs to have some kind of insurance depending on
the contract. Gloria should request that the other company add her company as an additional insured under applicable policy of insurance. Since the
other company may request that Gloria add their company to her insurance policy as a necessary precaution. There is the termination provision, this is
in–place to help Gloria and the company to legally exit the contract. Gloria should think ahead of time example, should disputes arise in the near future,
would she want to continue do business with this company? A written agreement can limit the circumstance of legally terminating a

The Case, The Real Claimant Of An Eligible Claimant Under...
. The Tribunal lacks jurisdiction to over the claims submitted by CAM.
In the present case, the real claimant is Contifica Spirits S.p.A. rather than the CAM. In other words, Contifica Spirits S.p.A is not an eligible claimant
under the Treaty. Its corporate veil must be pierced since it misused corporate formalities to gain access to thisarbitration.
Without the incorporate, Contifica Spirits could not bring a claim to arbitration.
From the basic facts of the case, the FBI was sold to Contifica Spirits S.p.A. This company is incorporated under Posteriana, as to its parent company,
Contifica Group, is incorporated in Prosperia. Both of these two countries have not entered into a BIT with Ruritania.
While, it transferred the shares ... Show more content on Helpwriting.net ...
Therefore, Contifica Spirits should not be recognized as the true investor in the present case.
According to Article 31 of the Vienna Convention,"a treaty shall be interpreted in good faith in accordance with the ordinary meaning to be given to
the terms of the treaty in their context and in the light of its object and purpose". Moreover, the Claimant cannot use the procedural mechanism while
not fulfilling the economic purpose of the treaty. A Similar logic was applied in the Saluka v. The Czech Republic. Therefore, the access method to
international arbitration is fall outside the scope of the usual meaning of this term.
"Piercing the corporate veil" is applicable here.
The privilege of legal personality in the present case is the protection provided by a BIT. Contifica Spirits did not have access to this arbitration. In
order to use the procedural mechanisms of the Ruritania–Cronos BIT, so it used the forms of corporate vehicle of the Contifica Group, Contifica Asset
Management Corporation. The intention to get the legal personality is obvious. Unlike CAM, Contifica Spirits made a true investment in Ruritania.
Basic the fact that both Contifica Spirits and CAM are fully owned subsidiaries of the same company; it was easy to use the latter as a corporate
vehicle for the former.
The corporate veil should be uncovered, and the real interest at stake should be Contifica SpiritsвЂџ. As Contifica Spirits

The Terms Of A Contract
The terms of a contract refer to the obligations of the parties entering into the contract. These terms are the contents of the contract, which determine the
parties' rights and obligations. Consequently, the law classifies the terms in two ways. Firstly, the law can look at the terms according to the
consequences of breach involving the nature of each term as a condition, warranty or innominate. Secondly, they may investigate the method through
which the terms got into the contract, explicitly or implicitly. Courts have the option to examine these two methods to reach an understanding of the
obligations of each party in the contract breached by one party. In reference to the first method, this essay will focus on the ability of implicit terms
to enter into a contract. An implicit term is not expressly agreed to by the parties, but nevertheless are either read into the contract or arise from other
sources of law. To clarify, parties may not have expressly included the term due to forgetfulness, previous contract with the party or because it may
have been obvious due to the parties presence in the same trade. If the parties do not include a term, the court can imply a term for business efficacy.
This is done in order to make a contract work. Accordingly, the court aims to make valid the intention of the parties. The Moorcock (1889) involved a
term not included, but of such an obvious nature that the parties did not think to include it in the contractual terms. Subsequently,

Case Analysis : Aerospace And Transport Planes Industry
Background of the case: LabCo is a construction firm that customizes and manufactures large, industrial machinery and equipment and sell to its
customers. Its customers include Aerospace and Transport Planes industry. LabCo negotiates a contract with its customers on either a fixed–price or
cost–plus basis. The company 's accounting policy to recognize revenue outlines that revenues and fees are recognized using the
percentage–of–completion method, which is based on contract costs incurred to date compared with total estimated costs at completion. The other
policy that they use is the completed–contract method, which is used when reliably dependable estimates of the total costs to be incurred under a
specific contract cannot be made. LabCo enters into contract trouble with one of its customer, Halibut, whom asks Labco to build a six–axis laser
cutting machine which requires lots of performance specification. LabCo uses the percentage–of–completion method to record the relevant revenue
and expense of the contract. The problems that LabCo encounters, including redesigning, outsourcing engineering costs, and steel price changing,
which led LabCo to re–estimate for the overall cost to complete the contract. The result shows that the contract costs would exceed the total contract
value. Due to the failure of the machine performance, LabCo is required to redesign and remedy the problems with the machine. Upon the problems
with the Halibut contract, LabCo is

What Is A Standby Credit?
What is a standby credit? Standby credits are a type of letter of credit. They are also called "standby letters of credit". The common feature of all
letters of credit is an undertaking by a bank to pay the beneficiary of the letter of credit a specific sum within a specified time limit against the
presentation of specific documents in accordance with the terms of the letter of credit. Standby credits are a type of quasi–security, in that although it
can be used to secure obligations, it does not create rights against assets. It creates rights against a party, being (for example) the issuing bank. Another
example of a quasi–security is a demand guarantee. See Boral Formwork v Action Makers [2003] NSWSC 713 which explains standby credits,... Show
In practice, this means standby credits create an obligation on the bank to make a payment of a specific sum to a named beneficiary on demand.
The use and purpose of standby credits explained Standby credits were designed to provide a means for securing payment or other obligations if a
party to the underlying transaction defaults in its obligations. A typical standby credit consists of an undertaking by a bank to pay a named
beneficiary a specific sum if the beneficiary presents the bank with the documents listed in the standby credit. Standby credits are often issued to
support a party 's obligations under a contract and the key document to be presented under such a standby credit is usually a certificate or declaration
from the beneficiary confirming that the other party has not performed its obligations under that contract. Standby credits are a useful tool because the
bank does not get involved in whether the underlying contract has been breached or not. The bank will pay out if the beneficiary of the standby credit
presents the relevant documents to the bank in accordance with the terms of the standby credit. Standby credits can be used in a variety of situations,
for example, in relation to: A

Evaluating Colorado Personnel Resources, Inc. Essay
The purpose of this Memorandum for Record ("Memo") is to evaluate Colorado Personnel Resources, Inc.'s ("CPR, Inc." or "Company") Hawaii
General Excise Tax ("GET") liability. Specifically, this Memo analyzes issues involving nexus, taxability, tax rate, and penalty waiver. I.General
Background By way of background, the Company is in the business of placing Certified Registered Nurse Anesthetists ('CRNA") with hospitals,
clinics, and similar facilities ("Facilities") on a contractual basis. Simply put, the Company is providing a specialty contracting service to its clients.
The Company identifies and locates Facilities, as well as Facilities seek out the Company, in need of CRNA services. Contracts can be temporary or
long–term in duration. In 2007, the Company contracted with a Facility in Hawaii to provide CRNA services. In the initial contract with the Facility,
there was no mention of the Hawaii GET; however, in the final contract, the Facility chose to include the GET recovery charge in addition to the
agreed–upon monthly contractual amount due. The Company then contracted with various CRNAs in Hawaii to fulfill the terms of the contract with
the Facility. The Company also sourced CRNAs from the mainland for temporary assignments when local resources were not available. The Company
derives its profit from the difference between what it pays the CRNAs and what it charges the Facilities for the services. Unfortunately, it is not certain
whether the CRNA

The Marine Insurance Act 1906
Introduction.
The Marine Insurance Act 1906 ("MIA 1906") sets out a duty of utmost good faith between contracting parties in insurance contracts. This duty is
unusual in English contract law and imposes a heavy burden on the parties. As a result, it has been the subject of much academic debate, culminating in
statutory reforms. This essay will analyse the duty in both its traditional and revised form, focusing on whether its merits outweigh its weaknesses and
whether it should be retained.
The duty in brief.
Utmost good faith ("UGF") (or uberrima fides) imposes a requirement of honesty and of full–disclosure between contracting parties. The distinction
between good faith and UGF is unclear. It has been suggested that good faith is simply 'fair and open dealing between all contracting parties'. UGF
instead imposes a negative obligation not to make misleading statements as well as a positive obligation to disclose facts which might affect the other
party entering into the contract.
The roots of the duty of utmost good faith.
The principle of uberrima fides in the insurance contract has been traced back to Lord Mansfield in Carter v Boehm, with the first judicial attempt to set
out the duty. He based the duty of disclosure on the fact that 'insurance is a contract upon speculation', highlighting the imbalance of information
between the insurer and the assured. The contingency is calculated on facts which are generally only known to the assured. This was regarded by Lord

The Articles Of Association ( Aoa ) Forms The Constitution...
The Articles of Association (AOA) forms the constitution of the Company. It regulates the internal affairs of the company by defining the
responsibilities of directors, the type of business and the means by which the shareholders exert control over the Board of Directors . This essay
will illustrate the similarities and differences of the AOA to a contract and how it is special in nature. Based on Section 14 of the Companies Act
1985 , AOAs are on the same level and to the same extent as if the company and shareholders had signed a contract. This is illustrated by Sterling J's
statement in Wood v Odessa Waterworks Company which reads: 'The articles of association constitutes a contract not merely between shareholders
and the company but also between the individual shareholders and every other' . The equivalence of AOA to a contract is conclusive in New British
Iron Co per Wright J's judgment whereby it completely replaces or stands in lieu of the missing employment contract. This highlights the fact that
AOA possesses contractual value and is contractual by nature. In simple terms, it is from its conception considered as an enforceable agreement and
hence it is legally binding. As such, it is evident that AOAs serves all purposes of a regular contract. AOAs however is a special legal document as it
possesses distinct features that differentiates it from being an 'ordinary' contract . An ordinary contract has permanent signatories or perpetual parties
while the

Unsw Legt 1710 Assignment 2
LEGT 1710 BUSINESS LAW– ASSIGNMENT 2 1 Introduction Vincent is demanding compensation from Claude for the damages incurred from the
paints provided. Claude, however, refuses this claim by arguing that he is protected by an exclusion clause – the words on the receipt and sign. Given
that negligence was apparent and that the exclusion clause did not fall foul of any statutory regulations; whether Vincent will be successful in his
claim, ultimately lies in the question was Vincent bound by the words on the receipt or sign?. To reach a conclusion regarding this issue, it is
necessary to examine the following legal matters raised: 1 2 1. 2. 3. 2 Are these words considered to have contractual effect? Were the damages that...
15 Boots Cash Chemists (Southern) Ltd (1953), the sale and therefore the contract was taken to be made at the point where the shop accepted the offer
from the customer. However in the cases of ticket machines, Lord Denning commented 16 that "the issue of this ticket was regarded as an offer...if the
customer took it and retained it without objection, his act was regarded as an acceptance of the offer" – Thornton v Shoe Lane Parking (1971). As
such, the point of acceptance by Claude is taken to be the time when the contract was made. 17 A reasonable person would agree, the receipt handed
over by Claude would have taken place after the payment was accepted and therefore the clause was introduced in a belated manner – as the judges in
the previously mentioned case Thornton v Shoe Land Parking (1971) inferred notice of the exclusion clause should have been given before the ticket
was issued. 18 Consequently, ClaudeвЂџs only hope of being protected lies within the clause printed on the sign at the counter. To be effectively
exempt of any of VincentвЂџs claims, Claude must prove that Vincent knew of this clause or that reasonable notice was given prior to the contract
being made. 19 What constitutes "reasonable notice" is a question of the facts. 21 20 However, as stated

Contract: Sam And The Chain Store
The third element of a contract, which is contractual capacity would be deemed to exist if both Sam and the chain store had initially established a
contract and both parties understanding its terms and their individual obligations agree. Seeing as the chain store failed to provide a concrete, physical
contract Sam's contractual capacity regarding the case was alarmingly minimal. Sam is mentally capable of complying with any contractual terms
stated, unfortunately there were no terms established nor a contract brought forth so his rights and obligations regarding the situation are unclear. If a
contract with Sam and the chain store was established then it would be appropriate to assume that both parties were legally capable of understanding

NT1310 Unit 1 Assignment 2
QUESTION 1.1B
Issue:
Can I acquire the building of technical tower, spot light ramp along with certification to be undertaken?
Rule:
Express terms are terms of the contract that are explicitly agreed on by all parties involved either in verbal or written form (James, 2014, p284)
Non–contractual promise or representation is a promise or representation made during contractual negotiations that was not intended to be a term of the
contract and it is not enforceable under contract law but is enforceable under promissory estoppel which is a principle that a promise will be legally
enforceable even if consideration for the promise was not provided by the promise so long as some requirements are satisfied (James, 2014, p301)
Parol evidence rule

P4 P5 Contractual Terms In A Standard Form Contract 2014

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