But these are limited in use to certain circumstances. The binding part of the judgement is called the ratio decidendi and later courts are bound to follow legal principles on which the decision was based if their case contains similar facts, as for example, in Donoghue V Stevenson (1932) a precedent was set that a customer could sue a manufacturer in negligence. Obita Dicta (other things said not directly related to the decision or dissenting judgements), are persuasive rather than binding precendents, as seen
In a thorough review of LJB Company’s internal controls it has been found that, although there are some practices currently in place that satisfy a few of the basic principles, there are a significant number of areas of weakness. Based on your company’s current practices and your plan to go public in the future the following internal controls are required: 1. Establishment of duties: Control is most effective when one person is responsible for a given task. As such, you will need to establish one individual to handle petty cash disbursements to employees. 2.
A contract is defined as “a legally enforceable agreement that is created when two or more competent parties agree to perform, or to avoid performing, certain acts that they have a legal right to do and that meet certain legal requirements” (Liuzzo, 2010, p 79). While all contracts are agreements, not all agreements are contracts, because not all agreements can be enforced by law. There are many reasons that a contract may be created, such as the sale of merchandise or services, employment, or to transfer ownership of land (real property) or personal property. (p 79) There are various types of contracts and several elements that make an enforceable contract. A contract may be classified in several ways.
Statutes are drafted by the Parliamentary Counsel who are a group of individuals who are skilled in law, however some legislation are still obscure and words are found to be ambiguous and it is for the judge to discover the intentions of Parliament. Uncertainty can occur due to factors like problems with the drafting of statutes, Inadequate wording due to printing or drafting errors and the broad terms used by the draftsman can also be a factor. The general methods of Statutory Interpretation are regulated by the Judges and not Parliament. Parliaments have given guidance to the courts to interpret statutes. These guidance includethe Interpretation Act 1978.
2. Although these duties and ethics would be approximately the same as in the United Kingdom, there are certain differences as in Malaysia, the legal profession is a fused profession and therefore one may practice as both an Advocate (Barrister) and a Solicitor. 3. The duties which one will owe are as follows: a) Duty to the Court; b) Duty to the Client; c) Duty to one’s opponent; and d) Duty to Society; 4. In terms of ethics, the legal profession in Malaysia is governed by the Legal Profession Act 1976 (“LPA”) and the Legal Profession (Practice & Etiquette) Rules 1978 (“LPR”).
Home Depot is involved in a number of legal proceedings, and while they cannot predict the outcomes of such proceedings and other contingencies with certainty, some of these outcomes may adversely affect our operations or increase our costs. The legal proceedings include government inquiries and investigations, consumer and employment, tort and other litigation. Home Depot cannot predict the outcomes of these proceedings and other contingencies, including environmental remediation and other proceedings commenced by government authorities. The outcome of some of these proceedings and other contingencies could require us to take or refrain from taking actions that would adversely affect our operations or could require us to pay substantial amounts of money. Defending against these lawsuits and proceedings may involve significant expense and diversion of management’s attention and resources from other matters.
In order to clarify, executory agreements refers unperformed agreement such as long term or relational contract (for example; franchise or employment contract), whereas, executed agreements refers performed agreements such as one-off or discrete contracts (for example; typical sale contract). In addition, laypersons in the juries, basically, apply the community standards of justice, thus the substantive fairness was in agenda. It is suggested that before the emergence of the classical contract law the sources of the contractual obligations were not only or even mainly the agreements, but the sources were the moral standards of the community. As the judge De Grey JC put forward in Flureau v Thornhill ‘I think the verdict wrong in point of law. On a contract for a purchase, if the title proves bad and the vendor is (without fraud) incapable of a good one, I do not think that the purchaser can be entitled to any damages for the fancied goodness of the bargain which he supposes he has lost “ We would even go so far to say that the eighteenth century contract law was subordinate to the property law.
There are several issues to consider when comparing the financial ratios of a public company to the industry averages. It is important to allow for any material differences in accounting policies between the specific company and the industry norms. It is also important to determine whether ratios were calculated before or after adjustments were made to the balance sheet or income statement. (Atrill & McLaney, 1997) It is also extremely important that one make sure that the financial data was developed using comparable accounting methods, classification procedures, and valuation bases. I have chosen to analyze Branch Banking & Trusts financial ratios and compare them to industry averages.
Many words do not have the same meaning now as they did in 1861 and some words are no longer used or have a specialist legal meaning. An example of this is the word 'malicious', as a layman would define the word as meaning evil or wicked, whereas a lawyer would define the word as meaning specific intention or subjective recklessness (Parmenter 1991). Some words and phrases do not describe what they mean, for example, in ABH 'actual' suggests any harm whereas, in fact, it does not include serious harm. 'Bodily' would seem to exclude mental harm, but in Chan Fook (1993) the court included it. All of these reasons have meant that Lawyers and Juries have struggled to understand the complexity or the different offences.
If the paperwork wasn’t properly filed in the first place. a. As with any legal contract, the enforceability of a prenup can come down to the proverbial “crossed t’s and dotted i’s.” b.Careless errors could render a prenup less than airtight. If the initial agreement was poorly drafted, it may also be invalid. 4.