Contract Paper Michelle Bennett Law/575 12/02/2013 Prof. Thomas Kershaw University of Phoenix A contract is defined as a promise or set of promises for the breach of which the law gives a remedy or the performance of which the law in some way recognizes a duty (Kubasek et al., 2012). In the case presented for this paper Danny Davidson sold a single family home to Paul and Priscilla Peterson. The contract was entered into without a written agreement due to the fact that Danny and Paul were fraternity brothers. The contract was a verbal agreement and included the sale amount of the house only at $250,000. Since the contract was a verbal one only, Danny failed to disclose the fact that he was in a dispute with a neighbor
Does Ken’s employment contract fall within the Statute of Frauds? Why or why not? No, Ken’s employment contract does not fall within the Statute of Frauds, because the contract was not in writing. The Statute of Frauds objective is to avert the likelihood of a nonexistent agreement between two parties ("The Free Dictionary By Farlex", 2014). The Statute of Frauds is also designed to confirm that, for specific types of contracts, there is dependable evidence of the contract and its terms (Miller & Jentz, 2010, p. 209).
Based on the agreement Boyd is entitled to 50% of the profits 1 (b) At the time Raylan and Boyd are winding down the business, Sassy Sauces demands payment for the BBQ sauce. If Justified BBQ refuses to pay, who can Sassy Sauces sue? Who is liable for paying for the BBQ sauce? (300 words or fewer) According to Bagley & Savage (2010), in general partnerships all partners have some control over business decisions and can speak on behalf of the partnership unless it is clearly expressed that they do not have the authority. Without such expressly written agreement to the contrary; “any partner has the authority to bind the partnership with respect to third parties” (Bagley & Savage 2010).
And the only thing that would be in their favor is that if an oral contract for the sale of land or transfer of another interest in real property has been partially performed, it may not be possible to return the parties to their status quo. To solve this problem, the courts have developed the equitable doctrine of part performance. This doctrine allows the court to order such an oral contract to be specifically performed if performance is necessary to avoid injustice. 16.10
Thus this measure, to buy call options by selling stocks to SBC, is simply speculating. But Cephalon’s shareholders want Cephalon to hedge this risk if DFA doesn’t approve this projection. They want Cephalon to take some measures, such as buying puts, as well as speculating, to hedge the stock price’s downside risk. Capital gains from put option could reduce the loss caused by DFA disapproving the projection. Option Valuation Under SBC’s proposal, Cephalon would purchase 2.5 million capped call options from SBC in exchange for 490,000 shares of Cephalon common stock.
Amoco Oil Co, 374 So. 2d 561 (1979 Fla.) .The language Mr. Anderson used when drafting the contract is: “[a]ddition to Lease Agreement dated April 1, 2012. Lessee, Morris Jones, has first option to purchase leased property. The purchase price being four hundred ($400,000.00) dollars.” Some courts will agree that the lease Mr. Anderson drafted for Mr. Jones lacked several provision in order to be considered a right of first
Why do they want to buy a portfolio of rights in advance rather than negotiating film by film to buy the rights? • Estimate the per-film value of a portfolio of sequel rights such as Arundel proposes to buy. You will try two different methods to solve this problem: some appropriate DCF approach, and the Black-Scholes approach. You may find it helpful to consult the Appendix, which explains how these figures were prepared. (Suppose the appropriate discount rate for risky cash flows is 12%.
Moore would say we can see these self evident truths when, in an argument, we are reduced to “it’s just wrong,” they require no further explanation, proof or justification. This seems a fairly logical conclusion, in order to justify what we do we look at it in basic terms, but such a process could not take place indefinitely without coming to a base truth which could not be broken down further. It’s the classic “it just is” situation in an argument, where the statement cannot be further simplified nor justified. The problem however is agreeing on what these basic moral truths are. Moore and WD Ross a fellow intuitionist agreed that pleasure, knowledge and virtue are all intrinsically good, and pain, ignorance and vice are intrinsically bad.
RUNNING HEAD: WIMPY, BLUTO & POPEYE 1 Wimpy, Bluto & Popeye BA 260 Grantham University RUNNING HEAD: WIMPY, BLUTO & POPEYE 2 Wimpy, Bluto & Popeye To have a valid contract you need a clear offer and a clear acceptance. This is sometimes called “meeting of the minds.” It is important to be clear and understand that a contract can be considered an agreement which is entered into by two parties voluntarily. Both parties have the intention of creating and upholding a legal obligation. Contractual Liability is defined “as liability that does not arise by way of negligence, but by assumption under contract or agreement (www.wiki.com). Contractual Liability is common in written and oral business agreements.
3. If so, are magic Zillions liable for any of Mr Laurent’s injuries? 4. Is Bella liable for any of Mr Laurent’s injuries? LAW: Statute: Partnership Act 1891 (Qld) s5: Carrying on a business with a view of profits s6: Determining the existence of partnerships s8: Power to bind firm s12: Liabilities of partners s13: Liability of the firm for wrongs s20: Liabilities of incoming partner Common Law: Canny Gabriel Castle Jackson Advertising Pty Ltd v Volume Sales Pty Ltd (1974) – ‘carrying on a business in common with a view of profit’ Khan v Miah (2000) - ‘a view to profit’ Molinas v Smith (1932) - ‘binding on partnerships.’ Polkinghorne v Holland (1934) - ‘partners liable joint and severally’ Lloyd v Grace, Smith & Co (1912) - ‘partners liable joint and severally’ APPLICATION The Partnership Act defines a partnership as “the relation which subsists between persons carrying on a business in common with a view of profit”.