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Critical Appraisal of Section 124 & 125 of Indian Contract Act, 1872 PowerPoint PPT Presentation

Critical Appraisal of Section 124 & 125 of Indian Contract Act, 1872 - Indemnity in a literal sense means protection against loss. In an indemnity contract, one party – the indemnifier – promises to reimburse some other party – the indemnified – for the damage experienced by the other.

Indemnity in a literal sense means protection against loss. In an indemnity contract, one party – the indemnifier – promises to reimburse some other party – the indemnified – for the damage experienced by the other.

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Nature and Classes of Contracts Chapter 12 and The Agreement offer and acceptance Chapter 13 PowerPoint PPT Presentation

Nature and Classes of Contracts Chapter 12 and The Agreement offer and acceptance Chapter 13 - A contract is set of legally enforceable promises. What are ... Privity. Privity. Parties to a Contract. Promisor, promisee. Obligor, obligee. Leasor, leasee ...

A contract is set of legally enforceable promises. What are ... Privity. Privity. Parties to a Contract. Promisor, promisee. Obligor, obligee. Leasor, leasee ...

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CONSIDERATION PowerPoint PPT Presentation

CONSIDERATION - A promise unsupported by consideration can not be ... Gratuitous Promises - Gift Promises. Purely social or gratuitous gift promises are not legally enforceable ...

A promise unsupported by consideration can not be ... Gratuitous Promises - Gift Promises. Purely social or gratuitous gift promises are not legally enforceable ...

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Introduction to Contracts PowerPoint PPT Presentation

Introduction to Contracts - R2d: a promise or set of promises for the breach of which the ... promise is an undertaking that something will or will not happen in the future. Promises...

R2d: a promise or set of promises for the breach of which the ... promise is an undertaking that something will or will not happen in the future. Promises...

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Performance of Contract PowerPoint PPT Presentation

Performance of Contract - General Rule: The parties to a contract must perform or offer to perform their respective promises. Rules Regarding the Performance of Contract ... Joint Promisors: ...

General Rule: The parties to a contract must perform or offer to perform their respective promises. Rules Regarding the Performance of Contract ... Joint Promisors: ...

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CONSIDERATION - The price paid to make a promise enforceable. Ensures that promises are enforced ... e.g., Hammes Notre Dame Bookstore 'on the campus' and Adidas products...

The price paid to make a promise enforceable. Ensures that promises are enforced ... e.g., Hammes Notre Dame Bookstore 'on the campus' and Adidas products...

American Contract Law in a Comparative Perspective - ... received by promisor or detriment suffered by promisee because of promise. ... for his promise and is given by the promisee in exchange for that promise. ...

... received by promisor or detriment suffered by promisee because of promise. ... for his promise and is given by the promisee in exchange for that promise. ...

Econ 522 Economics of Law PowerPoint PPT Presentation

Econ 522 Economics of Law - Office hours between now and midterm: Me: Tomorrow 1:30-3:30, Monday 1:30-3:30 ... that the keys fit the rusting Chevrolet in the back yard, not the shiny ...

Office hours between now and midterm: Me: Tomorrow 1:30-3:30, Monday 1:30-3:30 ... that the keys fit the rusting Chevrolet in the back yard, not the shiny ...

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Did the promisor make the promise which the promisor did, or should have, expected to induce action PowerPoint PPT Presentation

Did the promisor make the promise which the promisor did, or should have, expected to induce action - Promissory Estoppel Cause of action. No promissory estoppel ... Did it induce such action or forbearance? No promissory estoppel argument for enforceability ...

Promissory Estoppel Cause of action. No promissory estoppel ... Did it induce such action or forbearance? No promissory estoppel argument for enforceability ...

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Did the promisor make the promise in order to get a promise or performance in return PowerPoint PPT Presentation

Did the promisor make the promise in order to get a promise or performance in return - Did the promisor make the promise in order to get a promise or performance in return? ... Preexisting duty rule bars enforcement? Yes. No. Unenforceable ...

Did the promisor make the promise in order to get a promise or performance in return? ... Preexisting duty rule bars enforcement? Yes. No. Unenforceable ...

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What is Consideration PowerPoint PPT Presentation

What is Consideration - Identify when promissory estoppel applies ... PROMISSORY ESTOPPEL. The following conditions must be met for promissory estoppel to apply: ...

Identify when promissory estoppel applies ... PROMISSORY ESTOPPEL. The following conditions must be met for promissory estoppel to apply: ...

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Mutual Consideration PowerPoint PPT Presentation

Mutual Consideration - Promisor - the person who gives the ... Promissory Estoppel. Promissory Estoppel -when a promise is enforced even though no consideration is given for it. ...

Promisor - the person who gives the ... Promissory Estoppel. Promissory Estoppel -when a promise is enforced even though no consideration is given for it. ...

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PROMISSORY ESTOPPEL PowerPoint PPT Presentation

PROMISSORY ESTOPPEL - PROMISSORY ESTOPPEL. Exception to the necessity for providing that there was ... Modern concept of promissory estoppel established by House of Lords in Hughes v. ...

PROMISSORY ESTOPPEL. Exception to the necessity for providing that there was ... Modern concept of promissory estoppel established by House of Lords in Hughes v. ...

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Consideration - 'The law does not hold us accountable for every promise we make. ... PROMISSORY ESTOPPEL. Under the doctrine of promissory estoppel, even if there is no contract a ...

'The law does not hold us accountable for every promise we make. ... PROMISSORY ESTOPPEL. Under the doctrine of promissory estoppel, even if there is no contract a ...

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The Essentials of Contract Law PowerPoint PPT Presentation

The Essentials of Contract Law - UNIT 7 The Essentials of Contract Law SUNY CRIMINAL & BUSINESS LAW/MUSOLINO Learning Objectives Explain the three theories of contract law. Identify the six elements ...

UNIT 7 The Essentials of Contract Law SUNY CRIMINAL & BUSINESS LAW/MUSOLINO Learning Objectives Explain the three theories of contract law. Identify the six elements ...

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Performing and Enforcing a Contract PowerPoint PPT Presentation

Performing and Enforcing a Contract - Performing and Enforcing a Contract OBE 118, Section 10 Fall 2004 Professor McKinsey A Valid Enforceable Contract Mutual Agreement Consideration Capacity Legality ...

Performing and Enforcing a Contract OBE 118, Section 10 Fall 2004 Professor McKinsey A Valid Enforceable Contract Mutual Agreement Consideration Capacity Legality ...

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What is consideration? - CASE: Glasbrook Bros Ltd v Glamorgan County Council [1925] ... CASE: Williams v Roffey Bros & Nicholls (Contractors) Ltd [1990] ...

CASE: Glasbrook Bros Ltd v Glamorgan County Council [1925] ... CASE: Williams v Roffey Bros & Nicholls (Contractors) Ltd [1990] ...

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Law of Contract Consideration Part Payment of Debt PowerPoint PPT Presentation

Law of Contract Consideration Part Payment of Debt - ... Composition agreements with creditors Part Payment of Debt Part Payment of a Debt by a third party Welby v Drake (1825) Cook v Lister (1863) ...

... Composition agreements with creditors Part Payment of Debt Part Payment of a Debt by a third party Welby v Drake (1825) Cook v Lister (1863) ...

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Promissory%20Estoppel PowerPoint PPT Presentation

Promissory%20Estoppel - Courts use equitable jurisdiction to intervene and prevent unfairness ... Demagogue v Remensky (S&O p5475) General Newspapers v Telstra (S&O p5477) ...

Courts use equitable jurisdiction to intervene and prevent unfairness ... Demagogue v Remensky (S&O p5475) General Newspapers v Telstra (S&O p5477) ...

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Requirements for a valid contract PowerPoint PPT Presentation

Requirements for a valid contract - Requirements for a valid contract Offer Acceptance Intention Consideration All MUST be present for the contract to be valid Other requirements: Capacity

Requirements for a valid contract Offer Acceptance Intention Consideration All MUST be present for the contract to be valid Other requirements: Capacity

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Requirements for a valid contract - Requirements for a valid contract Offer Acceptance Intention Consideration All MUST be present for the contract to be valid Other requirements: Capacity

Requirements for a valid contract Offer Acceptance Intention Consideration All MUST be present for the contract to be valid Other requirements: Capacity

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Business Law PowerPoint PPT Presentation

Business Law - ... if the charged party admits that a contract for a sale was made, the contract will be enforceable Promissory Estoppel (detrimental reliance) ...

... if the charged party admits that a contract for a sale was made, the contract will be enforceable Promissory Estoppel (detrimental reliance) ...

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Quick Quiz - * Informed Consent The classification of people as children, intellectually disabled, ... Competence Voluntariness Disclosure Understanding Dignity * Paternalism v.

* Informed Consent The classification of people as children, intellectually disabled, ... Competence Voluntariness Disclosure Understanding Dignity * Paternalism v.

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Law of Contract Consideration Part Payment of Debt - Law of Contract Consideration Part Payment of Debt Part Payment of Debt Pinnel s Case (1602) A promise to accept a part payment of a debt, in discharge of the ...

Law of Contract Consideration Part Payment of Debt Part Payment of Debt Pinnel s Case (1602) A promise to accept a part payment of a debt, in discharge of the ...

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Economics of Contract Law PowerPoint PPT Presentation

Economics of Contract Law - Economics of Contract Law Agency Game I Give me $100 and I ll turn it into $200 and share the gain with you Do you trust me? No! Player 2 has DS to breach Solutions?

Economics of Contract Law Agency Game I Give me $100 and I ll turn it into $200 and share the gain with you Do you trust me? No! Player 2 has DS to breach Solutions?

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The Indian Contract Act, 1872 PowerPoint PPT Presentation

The Indian Contract Act, 1872 - The Indian Contract Act, 1872 Nature of Contract The fabric of modern industrial society is woven around economic relationships. The relational integration and ...

The Indian Contract Act, 1872 Nature of Contract The fabric of modern industrial society is woven around economic relationships. The relational integration and ...

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Consideration - Legal Value- Monetary value not necessary. Promise. Perform an act where no ... The court held that the conveyance of the real property was valid because the ...

Legal Value- Monetary value not necessary. Promise. Perform an act where no ... The court held that the conveyance of the real property was valid because the ...

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CHAPTER 7 Contracts: Nature, Classification, Agreement and Consideration PowerPoint PPT Presentation

CHAPTER 7 Contracts: Nature, Classification, Agreement and Consideration - What are the four basic elements necessary to the formation of a valid, contract? ... Seaview Orthopedics v. National Healthcare Resources, Inc. ( 2004). 20 ...

What are the four basic elements necessary to the formation of a valid, contract? ... Seaview Orthopedics v. National Healthcare Resources, Inc. ( 2004). 20 ...

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CHAPTER 7 Contracts: Nature, Classification, Agreement and Consideration - Title: BLT Essentials 7th Ed. 2005 Author: Joe Zavaletta Last modified by: Mo Hassan Created Date: 12/7/2004 1:12:41 AM Document presentation format

Title: BLT Essentials 7th Ed. 2005 Author: Joe Zavaletta Last modified by: Mo Hassan Created Date: 12/7/2004 1:12:41 AM Document presentation format

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Third Parties PowerPoint PPT Presentation

Third Parties - Third Parties. CHAPTER 16 ... A contracting party may transfer his rights under the contract, which is called ... Rights of the Parties after Assignment ...

Third Parties. CHAPTER 16 ... A contracting party may transfer his rights under the contract, which is called ... Rights of the Parties after Assignment ...

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Contracts - Valid contract requires and offer and acceptance. ... Case 7.6 Copeland v. Baskin Robbins (2002). See: Decision Tree for Contract Analysis, p. 234. ...

Valid contract requires and offer and acceptance. ... Case 7.6 Copeland v. Baskin Robbins (2002). See: Decision Tree for Contract Analysis, p. 234. ...

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CHAPTER 7 Contracts: Nature, Classification, Agreement and Consideration - What are the four basic elements necessary to the formation of ... Operation of Law: lapse of time, destruction, death or incompetence, supervening illegality. ...

What are the four basic elements necessary to the formation of ... Operation of Law: lapse of time, destruction, death or incompetence, supervening illegality. ...

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Assignments and Delegations PowerPoint PPT Presentation

Assignments and Delegations - A transfer of all rights and duties is generally known as an Assignment of ... Illegality in performance. Frustration of Purpose. Temporary Impossibility. 23 ...

A transfer of all rights and duties is generally known as an Assignment of ... Illegality in performance. Frustration of Purpose. Temporary Impossibility. 23 ...

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Consideration

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CHAPTER 14 Negotiable Instruments PowerPoint PPT Presentation

CHAPTER 14 Negotiable Instruments - Illegality. Mental Incapacity. Extreme Duress. 16 2005 West Legal Studies ... Illegality (voidable). Mental Incapacity. Discharge by Payment/Non-Delivery. 17 ...

Illegality. Mental Incapacity. Extreme Duress. 16 2005 West Legal Studies ... Illegality (voidable). Mental Incapacity. Discharge by Payment/Non-Delivery. 17 ...

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Consideration - Click your mouse anywhere on the screen to advance the text in each . ... a promise to do something or a promise to refrain from doing something. ...

Click your mouse anywhere on the screen to advance the text in each . ... a promise to do something or a promise to refrain from doing something. ...

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Donald R' Simon, Esq' PowerPoint PPT Presentation

Donald R' Simon, Esq' - A contract (or 'K') is one of the most common legal transactions you will be ... property, a promise, the doing of an act, or even refraining from doing an act. ...

A contract (or 'K') is one of the most common legal transactions you will be ... property, a promise, the doing of an act, or even refraining from doing an act. ...

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CONSIDERATION - FOR A PROMISE TO BE ENFORCEABLE AS A CONTRACT OBLIGATION, A LEGAL PRICE MUST BE ... E.G., AGREEING NOT TO SUE OR FILE BANKRUPTCY. PRE-EXISTING DUTY RULE ...

FOR A PROMISE TO BE ENFORCEABLE AS A CONTRACT OBLIGATION, A LEGAL PRICE MUST BE ... E.G., AGREEING NOT TO SUE OR FILE BANKRUPTCY. PRE-EXISTING DUTY RULE ...

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CONTRACT - CONTRACT ... FREE AND VOLUNTARY AGREEMENT. CONSIDERATION. PRICE ... UNIFORM COMMERCIAL CODE ART 2. SALES TRANSACTIONS. GOODS TANGIBLE PERSONAL PROPERTY ...

CONTRACT ... FREE AND VOLUNTARY AGREEMENT. CONSIDERATION. PRICE ... UNIFORM COMMERCIAL CODE ART 2. SALES TRANSACTIONS. GOODS TANGIBLE PERSONAL PROPERTY ...

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Capacity to Contract PowerPoint PPT Presentation

Capacity to Contract - Capacity to Contract Sec.10 12 of ICA,1872 Section 10 Parties to the contract must be competent to contract Who are competent to contract: Section 11: Age of ...

Capacity to Contract Sec.10 12 of ICA,1872 Section 10 Parties to the contract must be competent to contract Who are competent to contract: Section 11: Age of ...

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Econ 522 Economics of Law - Hadley sued for the week's lost profits 'The shipper assumed that Hadley, ... Hadley did not inform him of the special urgency in getting the shaft repaired. ...

Hadley sued for the week's lost profits 'The shipper assumed that Hadley, ... Hadley did not inform him of the special urgency in getting the shaft repaired. ...

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Chapter 18 Performance PowerPoint PPT Presentation

Chapter 18 Performance - Nature and types of conditions in contracts. Performance of contracts. Breach of contract ... to buy a house on the condition she is able to obtain financing. ...

Nature and types of conditions in contracts. Performance of contracts. Breach of contract ... to buy a house on the condition she is able to obtain financing. ...

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Business 4000 Chapter 14The Effect of Breach PowerPoint PPT Presentation

Business 4000 Chapter 14The Effect of Breach - the breach of a non-essential term of a contract OR the breach of an essential ... it ought to be inferred that the parties so agreed (Suisse Atlantique decision) ...

the breach of a non-essential term of a contract OR the breach of an essential ... it ought to be inferred that the parties so agreed (Suisse Atlantique decision) ...

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Have we got a contract and when do we have to perform PowerPoint PPT Presentation

Have we got a contract and when do we have to perform - Telegraph lowest price.' Facey: 'Lowest cash price for Bumper Hall pen 900. ... Mechanism by which the price for the particular works or services to be rendered ...

Telegraph lowest price.' Facey: 'Lowest cash price for Bumper Hall pen 900. ... Mechanism by which the price for the particular works or services to be rendered ...

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Performance - Click your mouse anywhere on the screen to advance the text in each . ... a duty of good faith and fair dealings in its performance and its enforcement. ...

Click your mouse anywhere on the screen to advance the text in each . ... a duty of good faith and fair dealings in its performance and its enforcement. ...

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Contracts - Common law once required all contracts to be in writing, with a seal affixed. ... I couldn't take less than $400 for that 1974 Dodge Dart. ...

Common law once required all contracts to be in writing, with a seal affixed. ... I couldn't take less than $400 for that 1974 Dodge Dart. ...

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Introduction to Profession and Legal System: Legal 100 PowerPoint PPT Presentation

Introduction to Profession and Legal System: Legal 100 - Duress=Gun to head decision not true will of victim ... authorizing or employing an agent or broker to sell or purchase real estate for ...

Duress=Gun to head decision not true will of victim ... authorizing or employing an agent or broker to sell or purchase real estate for ...

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Ecology studies PowerPoint PPT Presentation

Ecology studies - Breach Remedy, Renegotiation and Design of Supply Contracts Erica L. Plambeck Graduate School of Business Stanford University Terry A. Taylor Graduate School of Business

Breach Remedy, Renegotiation and Design of Supply Contracts Erica L. Plambeck Graduate School of Business Stanford University Terry A. Taylor Graduate School of Business

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1 Nature of contract PowerPoint PPT Presentation

1 Nature of contract - Where people make law for themselves. Where people can express their individual preferences ... In his exuberance he injures the horse by riding too hard. ...

Where people make law for themselves. Where people can express their individual preferences ... In his exuberance he injures the horse by riding too hard. ...

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Contracts Part I PowerPoint PPT Presentation

Contracts Part I - Gambling - Gambling contracts that contravene state statutes are deemed illegal. ... of trade - Contracts to reduce or restrain free competition are illegal. ...

Gambling - Gambling contracts that contravene state statutes are deemed illegal. ... of trade - Contracts to reduce or restrain free competition are illegal. ...

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Third Party Rights PowerPoint PPT Presentation

Third Party Rights - City of South Bend contracts with ABC Paving to cover streets in my neighborhood ... A third party named in a K who is intended to receive a contractual right ...

City of South Bend contracts with ABC Paving to cover streets in my neighborhood ... A third party named in a K who is intended to receive a contractual right ...

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Law, Economics and the Knowledge Problem PowerPoint PPT Presentation

Law, Economics and the Knowledge Problem - See for instance Posner, Cooter and Ulen. The Austrian approach. See Wonnell, Epstein, Garello ... Link with what we have seen previously. Cooter and Ulen: ...

See for instance Posner, Cooter and Ulen. The Austrian approach. See Wonnell, Epstein, Garello ... Link with what we have seen previously. Cooter and Ulen: ...

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INTRODUCTION TO THE UNIFORM COMMERCIAL CODE PowerPoint PPT Presentation

INTRODUCTION TO THE UNIFORM COMMERCIAL CODE - 'Merchant': deals in goods of the kind sold. Articles 3 and 4 of the UCC ... The contract stated that the car had a new engine and transmission (which was untrue) ...

'Merchant': deals in goods of the kind sold. Articles 3 and 4 of the UCC ... The contract stated that the car had a new engine and transmission (which was untrue) ...

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Enforceability in the Absence of a Contract PowerPoint PPT Presentation

Enforceability in the Absence of a Contract - By virtue of the policy of enforcing bargains, the enrichment of one party as a ... accept less than is called for by a preexisting bargain between the same parties. ...

By virtue of the policy of enforcing bargains, the enrichment of one party as a ... accept less than is called for by a preexisting bargain between the same parties. ...

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Contractual Theories PowerPoint PPT Presentation

Contractual Theories - Bad bargains would be unenforceable. THE LAW OF COMMERCIAL CONTRACT. Consent Theory ... The existence of a bargain frequently corresponds to the existence of a ...

Bad bargains would be unenforceable. THE LAW OF COMMERCIAL CONTRACT. Consent Theory ... The existence of a bargain frequently corresponds to the existence of a ...

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Contracts Contrary to Public Policy PowerPoint PPT Presentation

Contracts Contrary to Public Policy - Pre and Post Nuptial (Antenuptial) Agreements. 1. Effect of Illegality ... Contract Illegal through Fraud, Duress, or Undue Influence. Severable or Divisible ...

Pre and Post Nuptial (Antenuptial) Agreements. 1. Effect of Illegality ... Contract Illegal through Fraud, Duress, or Undue Influence. Severable or Divisible ...

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Promisee PowerPoint PPT Presentations