Contract Knowledge Mgmt. Essay

1138 WordsDec 15, 20105 Pages
Exam - The classification of law (the pyramid/& the cheesecake) public law/private law etc. - Ratio decidendi - Obiter dicta - The essentials of a contract o Particular  consideration - Treat and the counter offer(what is an invitation to treat) - The excess of interpretation of legislation (golden rule, etc) - What is the limited company (ltd) and what is the plc? - Know the german laws - Know the comparison - How to form a new company (MOA) - Rights and duties of the directors (liability) - What is holding out? - Know companies act Classification of Law 1. Municipal law •Public law: constitutional law, administrative law, criminal law •Private law: law of contract, torts, property, succession, agency, employment, familiy law 2. International law (European Law) 3. Private International law Sources of Law •Continental European law = written, codified law •Bürgerliches Gesetzbuch (Germany) •Code Civil (France) •Codice civile (Italy) •Common law unwritten law is predominant derives from judicial precedents Two principal sources determine English law: Legislation (enacted law by parliament) Judicial precedent Ratio decidendi and Obiter dicta • Ratio decidendi: •= the legal principle of a precedent case; •= the pronouncement of law in relation to the particular facts »Is binding • Obiter dicta: •= pronouncements by the way •= upon points of law which are not directly relevant to the issue »Is not binding The essentials of a contract 1. Offer: a definite promise to be bound on certain specified terms „I will sell my car for 500 Euro“ 2. Acceptance: final assent to all the terms of the offer „I will give you 500 Euro for your car“ 3. Consideration: a benefit to one party or a detriment to the other „the element of

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