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Business Law I

Monday, January 17, 2011. Define and explain the term Consideration and state its rules. What are the contracts without consideration? Essential elements of Consideration. The analysis of the definition of consideration would show that following are the essential elements of valid consideration. 1. Consideration must move at the desire of the promisor. Consideration may be furnished by anyone. Consideration may be past, present or future. When no consideration is necessary. If a promise is made to a pers...

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Business Law I | mbabusinesslawi.blogspot.com Reviews

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Monday, January 17, 2011. Define and explain the term Consideration and state its rules. What are the contracts without consideration? Essential elements of Consideration. The analysis of the definition of consideration would show that following are the essential elements of valid consideration. 1. Consideration must move at the desire of the promisor. Consideration may be furnished by anyone. Consideration may be past, present or future. When no consideration is necessary. If a promise is made to a pers...

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Business Law I | mbabusinesslawi.blogspot.com Reviews

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Monday, January 17, 2011. Define and explain the term Consideration and state its rules. What are the contracts without consideration? Essential elements of Consideration. The analysis of the definition of consideration would show that following are the essential elements of valid consideration. 1. Consideration must move at the desire of the promisor. Consideration may be furnished by anyone. Consideration may be past, present or future. When no consideration is necessary. If a promise is made to a pers...

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Business Law I: January 2011

http://mbabusinesslawi.blogspot.com/2011_01_01_archive.html

Monday, January 17, 2011. Define and explain the term Consideration and state its rules. What are the contracts without consideration? Essential elements of Consideration. The analysis of the definition of consideration would show that following are the essential elements of valid consideration. 1. Consideration must move at the desire of the promisor. Consideration may be furnished by anyone. Consideration may be past, present or future. When no consideration is necessary. If a promise is made to a pers...

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Business Law I: Consideration- Elements

http://mbabusinesslawi.blogspot.com/2011/01/define-and-explain-term-consideration.html

Monday, January 17, 2011. Define and explain the term Consideration and state its rules. What are the contracts without consideration? Essential elements of Consideration. The analysis of the definition of consideration would show that following are the essential elements of valid consideration. 1. Consideration must move at the desire of the promisor. Consideration may be furnished by anyone. Consideration may be past, present or future. When no consideration is necessary. If a promise is made to a pers...

3

Business Law I: Unpaid Seller - Rights

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Monday, January 17, 2011. Unpaid Seller - Rights. 14 Who is an unpaid seller? State and explain the rights available to an unpaid seller. A seller of goods is deemed to be an unpaid seller –. When the whole of the price has not been paid or tendered; or. Rights of an unpaid seller:. An unpaid seller has two-fold rights, namely –. Rights against goods; and. Rights against the buyer personally. Rights of unpaid seller against goods. Right of lien,. Right of stoppage of goods in transit. As already stated, ...

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Business Law I: Agency - Creation, Termination

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Monday, January 17, 2011. Agency - Creation, Termination. A) Explain the terms ‘Agency’, ‘Agent’ and ‘Principal’. How is agency created and terminated? B) What are the various types of Agent? Explain the rights, duties and liabilities of Agent and Principal. Agency is a special type of contract. Under ordinary contracts, the parties to the contract act entirely by themselves. When instead another person is engaged to do the acts under the contract, it is called agency. 1 Agency by express Agreement:.

5

Business Law I: Contract - Elements, Types

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Friday, January 14, 2011. Contract - Elements, Types. A) What is a contract? How is it different from agreement? B) What are the essential elements of a contract? Whenever two or more parties agree upon something or transact business with each other with the obvious intention that such agreement should have a legal binding force, there is a contract. Section 2 (h) of the Contract Act defines a contract as “an agreement enforceable by law.”. Agreement is a wider. Essential elements of contract. The Contra...

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Business Law I

Monday, January 17, 2011. Define and explain the term Consideration and state its rules. What are the contracts without consideration? Essential elements of Consideration. The analysis of the definition of consideration would show that following are the essential elements of valid consideration. 1. Consideration must move at the desire of the promisor. Consideration may be furnished by anyone. Consideration may be past, present or future. When no consideration is necessary. If a promise is made to a pers...

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