Ali bought a piece of land from Ahmad below the market price that is RM10,000. Does this considered as sufficient consideration under the contract law?
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Students must be able to identify the basis of a valid contract and its implications.
Students must be able to apply the legal principles in solving relevant problems.
1. Ali bought a piece of land from Ahmad below the market price that is RM10,000. Does this considered as sufficient consideration under the contract law?
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- Miss. Meron claims she has been unfairly dismissed by her employers. She consults a law firm owned by Mr. Fitih , who agrees to take up her case. The law consulting firm, owned by Mr. Fitih advises her that if she wins her case she can expect a compensation of 30,000 birr but if she loses she will receive nothing. The law consultant firm estimates his fee to be 5,000 birr which she will have to pay whether she wins or loses. Under the rules of the relevant court she cannot be asked to pay her employer’s costs. As an alternative the consultant offer her a ‘no win no fee’ deal under which she pays no fee but if she wins her case, the consulting firm will take one-third of the compensation she receives. She can decide against bringing the case, which will incur no cost and result in no compensation. Based on the information given above: Develop a payoff table to Meron’s case Advise Meron what to do: –Using the maximax decision criteria –Using the maximin decision criteria. –Using the…BUSINESS LAW BUSS2422 Akram posted the offer letter on 2 October 2020 to Salam to sell his Honda City for RM50 000 to be accepted by 10 October 2020. On 4 October 2020 Akram posted another letter to revoke his proposal. The revocation letter reached Salam on 9 October 2020. On 8 October 2020, Salam posted his acceptance letter accepting the proposal. Based on the facts above: (a) Advise Salam as to his legal rights against Akram in relation to the agreement. (b) Explain if your answer would be different if Salam posted the letter of acceptance after the letter of revocation reached him. Support your answer with relevant statutory provisions of the Contracts Act 1950 and decided cases. Format: Times New Roman 12 1% spacing Front cover - Standard Format Number of pages - Minimum 3 pages, maximum 5 pagesIdentify the type of contractual clauses in the following scenarios. 1. Tshepo pays for his sister’s university fees, however if she fails any modules he will no longer pay for her fees. 2. Anisha allows Alex to use her car for a period of two months, after which he must return it to her.
- Identify the type of contractual clauses in the following scenarios. Tshepo pays for his sister’s university fees, however if she fails any modules he will no longer pay for her fees. Anisha allows Alex to use her car for a period of two months, after which he must return it to her. If Thulani passes all of his modules this semester, his brother will pay for his university fees from next semester. Samantha concludes a contract with Jenna in terms of which Samantha will purchase Jenna’s house upon her death. 5. The owner of the land and the builder agree that the construction work must be complete by a certain date and if it is not complete, then the builder must pay the owner a certain amount of money per day that he is over the deadline.⚫ Are the parties involved in this case required to perform their contractual duties in good faith? If so, what does good faith in contracts mean? ⚫ For the sake of discussion, say Amir sent Mary a text message via his mobile but Mary, who was very depressed, did not open it until she found the lamb herself. Does she have to pay Noah? Do courts in Canada recognize texts message as a binding contract? Can you think of any relevant Canadian case law? You may want to have a quick look at the Electronic Commerce Act, 2000 S.O. 2000. • Say that Amir developed symptoms of COVID-19 and for this reason he was not able to deliver the note in person. Does COVID-19 impact Amir's contractual obligations and if so how? • Is it possible to characterize Mary's deal as a Unilateral Contract? If so, could you tell us a bit more about this type of contracts, preferably citing some relevant Canadian case law? CLOSEMr. Henok claims he has been unfairly dismissed by his employers. He consults a law firm owned by Mrs. Justice, who agrees to take up Henok’s case. The law consulting firm, owned by Ms Justice advises him that if Henok wins his case he can expect a compensation of 30,000 birr but if he loses he will receive nothing. The law consultant firm estimates her fee to be 5,000 birr. As an alternative the consultant offer him a ‘no win, no fee’ deal under which he pays no fee but if he wins his case, the consulting firm will take half of the compensation he receives. Henok also asked to pay his employer’s cost which is 1000 birr in both deals. He can decide against bringing the case, which will incur no cost and result in no compensation. Based on the information given above: a. Develop a payoff table to Henok’s case b. Advise Henok what to do: i. Using the maximax decision ruleii. Using the maximin decision rule.iii. Using the Minmax regret decision rule
- Ravi wanted to buy a property owned my Ramesh, Ravi invited Ramesh to his home to discuss the further course of action. During the discussion Ravi threatens to him to sell that property at a very low price. Under the threat of life Ramesh signs the agreement.Ramesh comes to you to check how the legal framework will help him to over comewith this situation and loss-making deal.Consideration can be defined as “something of value in the eyes of the law”, but consideration is not a critical factor to any contractual obligations and as such, it has to be ignored in any contract. Critically discuss this statement, with the following requirements. Five (5) applicable caribbean case laws on the subject matter. State clearly The issue Basic facts of the Cases The JudgementSelect the statement that describes how bilateral and unilateral contracts are alike and different. Both contract types involve two parties. But in bilateral contracts, both parties make a promise; in unilateral contracts, only one party does. Both are valid contract classifications, but only bilateral contracts involve two parties. Both are valid contract classifications, but only unilateral contracts involve two parties. Both contract classifications involve two promises, but only bilateral contracts involve two parties.
- Mohammed wants to sell his bike and he gives an advertisement. In the advertisement it is mentioned that a fastest bike is available for sale at 5000 OMR. Omar is interested in this offer and Mohammed says that it can be driven at the speed of 500km/hour in the normal roads. Omar is mesmerized by the offer and agrees buy. Question a. Is the contract in this case enforceable by law? Expluin why or why not?1.A retired businessman who owned a track of land was approached by a real estate agent, who is interested to buy his land. The purchase price offered by the agent was above the prevailing fair market value (FMV). The agent wants to develop the land into a commercial area and sell it to the public. The agent discussed the terms and conditions of the deed of sale in detail to the businessman, and the businessman agreed to the deal. Last year, the businessman was diagnosed of dementia by his family doctor, and the agent though was aware of it. Was a contract of sale formed? If yes, is it enforceable? Please state your reasons. 2. Jacky invited her friend, Lourdes, to her house. Lourdes has a beautiful sport car and Jacky is interested and offered to purchase it at a prevail market price or FMV, but Lourdes rejected her offer. Jacky offered Lourdes a bottled of vodka. When Lourdes consumed so much of it, she feels dizziness. Jacky took advantage and offered again to purchase her sport…Analyze the circumstances in which a contract of service may be broken by either party of an employment contract. Include in your answer the consequences if either party breaks the contract. Please give 10 point with details elaboration and example with section from employment contract act Malaysia . words 800