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Law Case Studies

Cory Said:

Law case studies: Exemption clause?

We Answered:

He may not have any. He needs to look and see what treaties his own country and that of the country he was visiting have entered into. (I'm not familiar with the cities and don't have a map handy at the moment - older version of web brower.) If they are in the same country he may be out of luck - unless this exemption is against public policy and not generally honored by the courts. In the USA, he could still sue and might even win. BUT, he is more likely to lose his case because he assumed the risk by trying to escape.

Tim Said:

Business law case studies part 4 thanks again?

We Answered:

Well, I'd say Marie needs to come up with more money and pay the going price for the shares. She should have put her acceptance in at the time the offer was given at the 72.50 and she would have made the profit. Sorry for her. Good for Bart.

Maurice Said:

Business law case studies part 2 help thanks!!?

We Answered:

The real clincher in this case is that all six elements of a contract were not met. Again, these are: binding agreement, competent parties, form required by law, legal in purpose, consideration, and genuine assent.
To make an agreement a legal contract, both parties have to be competent. All adults are assumed to be competent. It’s important for people who are making contracts to be of sound mind. This means that the people involved cannot be under the influence of any substances
Both parties agree that whiskey was served, which means that no matter how sober Lucy assumed Ferguson to be, as alcohol was consumed this is not a legally binding contract. Only 5 of the 6 elements were met.

June Said:

Where can i find Case Law on the Net to help me with studies?

We Answered: - - -… - -… -… - -… -…

Shelly Said:

business law case studies part 3 thank you all?

We Answered:

She is not right. This is related to your first question, with the simple difference being that there was an offer and acceptance. Mike offered Mary what she deemed sufficient payment, which she then accepted (as evidenced by the fact that she took his down payment). Mary had a legal obligation to honour the contract. Look at all 6 elements:
Binding agreement: this is shown through the offer & acceptance
Competent parties: both are mentally sound, sober adults
Form required by law: A contract which can be either verbal (which this one is), or written.
Legal in purpose: These items belonged to Mary therefore she is not breaking any laws by selling them
Consideration: the promise or action that one person (the promisor) gives in exchange for the promise or action of the promisee which in this case is the $500 down payment
Genuine assent: Mary's assent was given verbally

Mary is out of luck on this one!

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