Facts This is the who, what, when, where, and why of the case. Remember this is a brief, so you can just summarize. A suit was filed suit in the United States District Court for the District of Kansas against the defendant for breach of an express warranty under Kansas law, the plaintiff claim that the item that was acquired failed to perform, the jury deliberated that the plaintiff should receive damages, and yes it was a breach of a contractual agreement, usually when you purchase a good unless its stated as is, you are assuming that the item is in reasonable condition. Any affirmation of fact or promise made by the seller to the buyer which relates to the goods and becomes part of the basis of the bargain creates an express warranty that the goods shall conform to the affirmation or promise. Any description of the goods which is made part of the basis of the bargain creates an express warranty that the goods shall conform to the description Plaintiff argued, the defendant appealed the decision, and claim that the suit was barred by the Kansas statute of limitations, the defendant state that because the plaintiff signed a disclaimer he agreed to a limited.
Case 13-8 Accounting for a Loss Contingency for a Verdict on Appeal In this case we are presented with the scenario that a company faces a pending litigation. We are supposed to surmise how this liability will be reported, as well as, the resulting effects on the financials in the years in question. In my opinion, the primary accounting to be resolved is whether to accrue the liability, disclose the liability or simply count it is as immaterial and do nothing. As we progress through the scenario we are presented with subsequent facts which suggest that our decisions will indeed be impacted and changed due to litigation and we must act accordingly. The following are the questions asked by the case and my understanding of applicable GAAP.
Based on the principles of the three-part-fold, the House of Lords ruled against the claimant that: the defendant owes no duty of care to the claimant in such circumstances. In reference to the three-part test; the reasonable foreseeability of harm is not a necessary ingredient in the relationship that
He authorized the charging of his credit card, The TV Corporation International charged the credit card. Subsequently, The TV Corporation International tried to avoid handing over the domain name to Lim using several pretexts like there was an e-mail error, the minimum bid amount had not been bid for and other such reasons. Issues of Law being raised are accepting to bid on the online auction and paying through the credit card the sum requested by the seller, is there an enforceable contract? Can the seller be sued for breach of contract? Procedural history is the trial court dismissed the case because the court held that since the domain offered and the one accepted were "different' there was no contract formed.
• 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.
as a whole” test laid down by Lindley MR in Allen as inappropriate in the context of competing rights and interests of shareholders.18 The court drew a distinction between two different types of constitutional alterations. For alterations not involving “expropriation of shares or of valuable proprietary rights attaching to shares” it is sufficient if the special resolution is passed regularly, is not ultra vires, not beyond any purpose contemplated by the constitution nor oppressive.19 With respect to alterations that do involve expropriation of shares, or valuable proprietary rights attached to shares, different considerations apply. The majority laid down a twopronged test, holding that amendments to the constitution permitting expropriation are only permissible if: • the power is exercisable for a proper purpose; and • its exercise will not operate oppressively in relation to minority shareholders.20 Ibid at 386. Contra this reasoning see Brett W King, “Use of Supermajority Voting Rules in Corporate America: Majority Rule, Corporate Legitimacy, and Minority Shareholder Protection” (1996) 21 Delaware Journal of Corporate Law 895 at 907. 13 Vanessa Mitchell, “Gambotto and the Rights of Minority Shareholders” (1994) 6 Bond Law Review 92 at 102.
Conclusion: We can say that, Valley home is more likely to loose the case against Ace Minerals if we put together all the arguments in the above analysis. 2. Issue: The second issue is to determine whenever Valley Homes could use the promissory estoppel in this case Rules: In a common law a promise made without consideration is not enforceable by law. The two exemptions to this rule are promissory estoppel and sealed documents Promissory estoppel: In the law of contracts,
It is not a case of (sometimes criticised, sometimes admired) dynamic interpretation since the judgment did not even attempt to reason out the fine distinctions and nuances concerning “fair dealing”, “fair use” and “enumerated exceptions”. The judgment, in fact, went beyond the realms of extant jurisprudential understanding without even discussing them especially when precedents are binding in a common law jurisdiction like India. Of course, the judiciary in India is free to take an altogether different path in jurisprudence and interpretation. But it should be mandatorily based on reason. Reason pervades the Indian polity, thanks to Constitutionalism and Rule of Law.
Whether or not B will have a cause of action for damages for breach of contract depends on whether the Heads of Agreement is itself an enforceable contract. Since A and B have executed the Heads of Agreement, they themselves may have come to an agreement, and execution excuses the need to go through an offer and acceptance analysis to find an agreement. Moreover, the language of the document reflects this conclusion; it records the completion of negotiations for the ‘Heads of Agreement’. Nevertheless, as a matter of law, the parties must have reached a certain and complete agreement R. Under the objective theory of contract; it cannot be concluded that the parties have reached an agreement if it is impossible to ascertain the meaning and legal effect of the terms agreed. Moreover, despite the execution of a document, there will be no enforceable agreement if the contents of that document evidence a positive intention not to contract.
(Peter Clarke, 2015) • Contrast liability was forced by Law in order to control the intentional Tort, such as battery cases, Assault, tress pass, conversion and fraud. Those cases are harm/injuries that are causes by a party to another. In Tort Law, those incident make the party who causes injury liable even they didn’t mean