The difference between Lack of consideration and failure of consideration is failure of consideration means there was a contract that failed for some reason. Lack of consideration there was not a contract to begin with. Rule The Court of Appeals, Orme, J., held that agreement was not enforceable contract. It was making a promise for past services for being nice. One cannot make a contract for past services.
During the time of Mr. Eldridge’s unemployment he did not make child support payments. In January 2008, Mrs. Eldridge filed a motion with the court that entered the divorce decree, seeking an order forcing Mr. Eldridge to pay a total of $7,000 in missed child support payments. Mr. Eldridge countered with a petition to modify his child support obligation. The petition requested that he be excused from having to pay the obligations that accrued during his ten month unemployment period. The court ordered Mr. Eldridge to pay half of the amount due, totaling $3,500 and excused him from the remainder of the balance, due to the factor the Mr. Eldridge was unemployed during the months that the child support was being accrued.
After extensive review of the relevant facts in this dispute, it has come to my attention that the loss contingency is incorrectly booked for Solo Cup Company. To first understand the scope of the situation, below is a summary of key events for your reference. Timeline of Key Events 2/13/03 – Solo entered into a 15 year Equipment Lease Agreement and a 20 year Energy Services Agreement with Trigen Energy Services to construct a co-generation facility. 11/01/04 – Trigen issued a Letter of Substantial Completion to Solo and paid out $820,000, which represented the first year’s energy savings prepaid by Trigen. January 2005 – Solo notified Trigen of disputes after being dissatisfied that savings were not being realized.
Jordan retired in 1993 but came back to the league in 1995, no contract was made between Knafel and Jordan after his first retirement. It was not until his second announcement that came in 1998 that Knafel contacted him. She reminded him about their agreement to pay her the 5 million dollars. After Jordan retired he failed to pay Knafel alleging that she was trying to extort 5 million dollars from him. Procedure Jordan filed for a declaratory judgement alleging that Knafel was attemting to extort 5 million dollars from him and even if there was an agreement made it was undenforcable because of fraud and mutual mistake.
Tiffanie Murray April 30, 2012 Arbitration Exercise ROSE ENTERPRISES And SAGLE ELETRONICS DECISION APRIL 30, 2012 Decision by member Tiffanie Murray for the Authority I. Introduction and Background On December 1, 2010 Rose Enterprises entered into a contract with Sagle Electronics for the period of January 1, 2011 through December 31, 2014. Both parties agreed on the following terms, Sagle has been contracted to upgrade Roses computer systems and provide technical support for a period of three years, under the terms Sagle will be compensated 50,000 for the system upgrade. Sagle will be paid in two installments of 25,000, with the last installment to be paid upon completion. Sagle has agreed to be completed within 60
That is, the judge holds that the plaintiff failed to provide sufficient grounds, even what is claim is true, to be able to win a verdict. After a jury returns a verdict, the losing party may make a motion for judgment as a matter of law or a motion for judgment now withstanding the verdict. The judge is asked to hold that there were not legally sufficient grounds to support the jury’s verdict and to either overturn the entire verdict or a portion of it. Courts preferred post– verdict motions to pre—verdict motions because, if an appeals court reverses a post verdict motion, there is no need to redo the entire trial. Q: The jury believes the expert testimony presented for plaintiffs.
Banaitis appealed to the Ninth Circuit Court of Appeals, which ruled that contingency fees could not be taxed as income. Banks appealed to the Sixth Circuit Court of Appeals, which ruled contingency fees were never taxable income. Other federal appeals courts ruled to the contrary. The U.S. Supreme Court consolidated Banaitis and Banks
• Was there discussion on justification of a contract? • Was there an agreement on the details of the relationship that contained sufficient certainty on the establishment of a contract? Result: • The claim made by the plaintiff had failed since the judges decided that the parties did not appear to have any legal relations intended. • Appeal by the plaintiff was not allowed but a cross-appeal was. Reasons: • Precedent from the case Combe v Combe [1951] 2 KB 215 shows that a promissory estoppel cannot create a cause of action.
E) A 130 million dollar judgment was ruled against Jim Bakker, and to be paid to the plaintiffs. Issues 1.Identify the ethical questions raised by the maintenance of PTL’s secret payroll account by laventhol partner. Does the fact the PTL was a private organization not registered with the SEC affect the propriety of the partner’s actions? The time line of H&L’s audit of PTL Club is: End of fiscal year (May 31, 1984), Audit Completion Date (Dual dated as August 31, 1984 and October 24, 1984). Based on the timeline and the above definition of subsequent events, I believe that it is a subsequent event.
Facts: Sometime in 1996 and 1997, Swagman through Atty. Infante and Hegerty, its president and vice-president, respectively, obtained from Christian loans evidenced by three promissory notes dated 7 August 1996, 14 March 1997, and 14 July 1997. Each of the promissory notes is in the amount of US$50,000 payable after three years from its date with an interest of 15% per annum payable every three months. In a letter dated 16 December 1998, Christian informed the petitioner corporation that he was terminating the loans and demanded from the latter payment of said loans. On 2 February 1999, Christian filed with the RTC a complaint for a sum of money and damages against the petitioner corporation, Hegerty, and Atty.