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Business Lawl - Case Study Example

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Summary to case study on topic "Business Lawl"
Under the US contract laws, parties are free to make an agreement. However, an agreement can only be legally binding if it contains the essential requisites of a contract such as valid consent of both of the contracting parties, lawful subject, and lawful consideration…
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Business Lawl
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Download file "Business Lawl" to see previous pages... When one of the parties failed to perform his or her obligation in a valid contract where he or she freely entered, he or she can be held liable for breach of contract. Breach of contract is an actionable tort and the party at fault can be held liable for the payment of damages for the loss suffered by the plaintiff.
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There are mainly two kinds of losses: actual and nominal. Actual losses are those that can be established by computation or estimation. Even if there is no actual loss, the claimant can still be entitled to nominal loss with the fact that a breach was made. The claimant should prove the losses suffered by him or her through presentation of evidences or documents because of the legal maxim that "he who asserts must prove".
In this case, Jettison could only be liable for the actual loss suffered by the lessor when it breached the contract. The actual loss is $12,000, which is the expected amount of the lease payments for the remainder of the contract which is one (1) more year.
An employment contract must also contain the essential requisites of an ordinary contract to be legally binding. ...
Failure to assent within the prescribed period is a rejection of the contract, thus, no contract is formed.
In this case, the employment contract is not yet legally binding since Sara did not yet give her assent to it. She has seven (7) days more to accept, reject or make a counter-offer. If Sara did not act on the contract, or if the contract was rejected or a counter-offer was made but the company did not agree, the contract is automatically extinguished and has no legal effect at all.
The non-compete clause restricts an employee from sharing or utilizing the trade secrets or other information of the company he or she had worked within a certain period. It can be made a provision of an employment contract and the validity of the restrictive period will rest upon the discretion of the court. The case of Double Click v. Henderson decided by the New York Supreme Court states the rationale behind the acceptance of a non-compete clause as part of a contract or an agreement.
Answer to Situation No. 4: Slip and Fall Accident
When a person slipped or fell on a property and caused him or her injury, the owner/possessor of the property can be held liable for torts or damages under the premises liability rule. Under this rule, the owner or possessor of the property where the slipping or falling accident happened can be held liable for the injuries sustained by the visitor (invitee, licensee, or trespasser) if: 1) the possessor knew or should have known of the condition, should have realized that it involved an unreasonable risk of harm to the visitor, and should have expected that the visitor would not discover or realize the danger; 2) The owner/possessor failed to exercise reasonable care to make the condition safe, or to warn the visitor of the condition and the ...Download file "Business Lawl" to see next pagesRead More
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