Lecture-Introduction-law

Publish date: September 26, 2010

1. DEFINITION OF LAW: Law, as it is, is the command of the Sovereign. It means, 1) law has its source in sovereign authority, (2) law is accom­panied by sanctions, and (3) the command to ...

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Sale of Goods-CIMA

Statutory references in this chapter are to the Sale of Goods Act 1979 unless other wise noted.

DEFINITION OF A CONTRACT FOR THE `SALE OF ...

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Law of Agency-CIMA

CREATION OF AGENCY

1.the relationship of principal and agent is usually created by mutual consent. The consent (with one exception - see below) need not be formal-nor expressed in a written document ...

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Intention To Create Legal Relation-CIMA

EXPRESS STATEMENTS OF INTENT

1.  agreement is not a binding contract unless the parties intend thereby to create legal relations. Where the parties have not expressly denied such intention, ...

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Offer And Acceptance -CIMA

The particular significance of offer and acceptance is that

a)       new terms cannot thereafter be introduced into the contract unless both parties agree; and

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Consideration-CIMA

NATURE OF CONSIDERATION

1. A promise given in a contract is only binding on the promisor if

(i)             it is ...

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Discharge of Contract -CIMA

1.How A CONTRACT COMES TO AN END

a party who is subject to the obligations of a contract may be discharged from those obligation in one of four ways. The agreement is then at an end. The four ways are:

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Illigality of Contract -CIMA

TYPES OF VOID OR ILLEGAL CONTRACT

Some types of contract cannot be enforced in a court of law because they are unlawful in themselves or disapproved as contrary to public policy. The ...

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Terms of The Contract-CIMA

LEGAL MODIFICATIONS OF EXPRESS TERMS

As a general principle the parties may by their offer and acceptance include in their contract whatever terms they prefer. But the law may modify ...

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