This website uses cookies to ensure you have the best experience. Learn more

Business Law Assignment

407 words - 2 pages

Even though the Central London Property Trust v High Trees Pty case suggests that past consideration can be valid given the circumstances, there are many other cases after the High Tree case shows the concept of past consideration is not good consideration still an indicator of judgment in court. In the Re McArdle court of appeal case in 1951, Majorie McArdle carried out some repairs and improvements on a bungalow, such property was part of the family estate her father in law owned before he passed away. According to Majorie’s father in law’s will, he had left the bungalow along side ...view middle of the document...

The court held in this case, since the promise to make payment to Majorie McArdle happened after the consideration had already been performed therefore the promise to make payment was not binding. Past consideration was ruled not valid. The conclusion to draw from this case is that if one party voluntarily performs an act before another party make a promise in consideration of the act performed, such consideration count as a past consideration, which means it is not a good consideration and does not hold legal ground to sue on a contract.
Another example of past consideration is no longer good consideration is the case of Roscorla v Thomas where the buyer bought a horse from a seller. After the sale was completed, the seller promised that the horse was free from vice where in fact the horse was vicious as the buyer discovered later. The buyer brought up a lawsuit against the seller saying that he had breached his promise. The court held that the since the buyer provided no consideration regarding of whether the horse was free from vice as the agreement to buy the horse, therefore after the sale had already taken place, the buyer cannot hold the seller accountable with past consideration because it was not valid. Considerations generally regarded as being past if it had already flowed from the promise to the promisor and therefore are not valid to support a promisor’s promise.

Other assignments on Business Law Assignment

Business Relations Essay

1158 words - 5 pages COURSE DESCRIPTION: This course will focus on developing the analytical skills needed for philosophical thought about important moral issues that arise within a business context. The first part of this course will focus on understanding the nature of morality, and we shall discuss normative theories of ethics, theories of justice, the nature of capitalism and the rise of corporations. Next, we apply these theories to practical problems arising

Contract Law Essay

5420 words - 22 pages that anyone can handle such cases in their daily life, either it is on a large scale or small. Literature Review This assignment was made possible by the help of different sources. These sources are, web, that includes (Wikipedia, Google, official law websites, ask.com, businessdictionary.com, bing.com, etc) other than that, books came in handy a lot (the laws of business communications, corporate management by James H.Crooks and the nature and

Management And Leadership

3168 words - 13 pages [pic] Introduction to American Business College of Adult Professional Studies Course Number: BUS105 Syllabus Course Overview Introduction to American Business will take you on a journey of understanding the science of business. Even though new business applications are emerging some foundational principles remain unchanged. This course will include both basic business applications and new emerging trends. As you read the

The Scrushy Way

1617 words - 7 pages following the accounting scandals of the early 2000s that brought down some of the largest publicly traded firms. The stated purpose of the law was to “protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes” (Sarbanes-Oxley Act of 2002). The author believes that this law creates unnecessary government intrusion in business and is an impediment to the free

Ethics

1692 words - 7 pages Northrise University Caravelle House, Buteko Avenue, Ndola ------------------------------------------------- ASSIGNMENT COVER SHEET Student ID:1200407 | Student Name: Howard Mulamba | Course Code: MGT401 | Course Title: Business and Personal Ethics | Instructor Name: Dr. B. Sichone | Essay/Assignment Title: Unethical Business Practices and Solutions to Unethical Practices | Due Date: | Declaration:I understand that by completing this

Purchasing Ethics

1322 words - 6 pages she wanted the business. Lisa responded that she needed some time to think and that she would get back to Troy in a day or so. Assignment 1. The buyer at Sealgood Instruments, Troy Smyrna, is practicing a certain type of unethical behavior. What is the term for this behavior? Why is it considered unethical? 2. What should Lisa do in this situation? Formulate a response. Scenario 3 Troy Gibson, the purchasing manager at

E-Marketplace, E-Mall, E-Tailing

596 words - 3 pages “e-commerce”. Drivers in adopting e-tailing: * Cost * Flexibility * Connectivity and communication opportunities. * Low risk * Globalization. Barriers in adopting e-tailing: * Uncertainty over business model. * Bandwidth * Law and legal frameworks * Preparedness Challenges faced in E-tailing: * Competitors keep booming. * Speed of goods delivery. People expect the goods to be delivered same day

Big Data

1023 words - 5 pages New Privacy Issues Related to Cyberspace Objective: Analyze personal privacy issues related to various personal and business-related cybersecurity scenarios. Competencies: Critical thinking, communication skills Select three organizations within the same industry from the list below and     1.    Briefly describe the organizations and their missions (stated on their web site).     2.    Identify and list the similarities and differences

Amazon

1618 words - 7 pages operations. The business sector chosen for this assignment is online retail industry, which constitutes a significant portion of current business transactions. The modern business world greatly depends upon the online retail industry as this sector provides customers with many shopping conveniences and time benefits. This paper will specifically discuss online retail industry, and analyze how internet related capabilities have impacted marketing and

Net Operating Loss Rules

388 words - 2 pages Unit 5 Assignment: Net Operating Loss Rules The Garvey Corporation, a C corporation, during its first 5 years of operation, reported the following taxable incomes (losses): Year | Taxable Income * | 1 | $60,000 | 2 | 20,000 | 3 | (90,000) | 4 | 30,000 | 5 | (40,000) | a. Explain the net operating loss provisions of the tax code as they would relate to the Garvey Corporation. Tax law allows that the amount can be immediately

Mgt 590 Essay

385 words - 2 pages Dr. Keller MGT 590 Class Discussion Assignment Daily Fantasy Sports Betting Ilegal or Legal? On January 16, 2016, the Texas attorney general rules that by Texas state laws that daily fantasy sports betting (DraftKings and FanDuel) was declared illegal now. The attorney general said the reason was illegal under state law was that Texas “prohibits bets that hinge on the partial or final result of a game or contest or on the performance of a

Similar Documents

System Administrator Essay

1230 words - 5 pages involves cheating. If students are not learning as expected, they will be made aware of their difficulties and helped to improve. Those who deliberately choose to cheat by way of plagiarism, however, will be identified and dealt with accordingly. Students are strongly advised to understand their responsibilities in relation to correct referencing and should consult the Unit Outline, the Business Law 100 presentation slides on referencing and Blackboard

Management Essay

891 words - 4 pages APPENDIX 2 Faculty of Business and Law | BAC1014 FINANCIAL ACCOUNTING ITrimester 1, 2012/2013Assignment’s title: The name of the company (ABC SDN BHD)Financial and Business InformationLecture Group: BM101/102/103/104Due date: 22/08/2012Lecturer : Ms. Nurbani Md Hassan | Group members: ------------------------------------------------- Student ID Student Name ------------------------------------------------- 1. 99523626355

At Will Essay

468 words - 2 pages . She also says she took a business law class in undergrad that taught her “everything she needs to know about exceptions to the employment-at-will doctrine and wrongful discharge in violation of public policy”. 3. Describe what steps you would take to address the following scenario involving labor and laws: • The employee takes a day off from work, without management consent, for her religious holiday observance that falls on a day that is

Adr Clause Essay

539 words - 3 pages and forth until a suitable resolution for the assignment is agreed upon by all parties. In business law, a settlement agreement is completed and signed by all parties once they have settled. Within learning teams, it may be beneficial to have a team charter in place that all parties can use to help reduce the number of conflicts or disputes among members of the team. If the negotiation is taking longer than 24-36 hours, the team may decide to go