The position of the receiver of the letter.
Q: Robert applies to Northern National Bank for a loan. Prior to granting the loan, Northern requests…
A: A) Person R applies for a loan from Bank N. The bank acquired a credit report for R and created on…
Q: A revocation is the calling back of the offer by the offeror, with the exception of an option…
A: An offer is a proposal made by one party (the offeror) to another party (the offeree) indicating a…
Q: Michael, who is a new immigrant in Canada, borrowed money to a lending company, AB Finance Ltd. In…
A: The objective of the question is to determine whether the annual interest rate of 65% stipulated in…
Q: If the Cheque was issued in nearby countries, presentation must be made within: Seventy days O…
A: If the cheque was issued in nearby countries, a presentation must be made within twenty days.
Q: Which of the following is the transfer method of registered negotiable documents? A) as written on…
A: The word negotiable means transferable from one person to another in return for consideration.
Q: Suppose that bank A buys a car for client B, and resells the car to the client. The bank and the…
A: The contract where the bank acquires the commodity and sold to the consumer is known as the Murabaha…
Q: Which of the following is created once an offer has been unconditionally accepted? A. A conditional…
A: A binding contract is created once an offer has been unconditionally accepted.
Q: The four agree to a formula under which they will price the shares pursuant to granting each other…
A: The objective of the question is to identify the type of restriction on transfer that is being…
Q: Explain the dangers of entering into a contract with someone who is under 19 years old where you are…
A: Note: The answer has been framed in a generalized manner.A contract serves as a binding legal…
Q: Khabua books for a hotel facility and pays in advance. The hotelier tells him nothing more than the…
A: Khabua booked a hotel by paying in advance .As usual the hotel staff did not mention the safety of…
Q: 7. When goods are in possession of third person, delivery is complete: (a) When such third party…
A: The Sale of Goods Act is a legal framework that governs the sale of goods in India. It was enacted…
Q: 10 - Which of the following statements cannot be said about the negotiable documents written to…
A: The document promising the sum of payment to the assignee is known as the negotiable instrument. The…
Q: With respect to employment contracts, the term "obsolescence" refers to a contract that: fails to…
A: the term "obsolescence" in the context of employment contracts refers to:(2) no longer reflects the…
Q: According to the CISG, when a contract is for sale of goods by description, a slight breach may be…
A: With globalization and increased use of internet transactions between sellers and buyers residing in…
Q: Give any one exception to agreement in restraint of legal proceedings. Explain too.
A: The process of using the legal system to settle disputes or uphold rights is referred to as a legal…
Q: Which of the following is false with regard to shipping contracts and destination contracts: A. A…
A: The area of law known as contract law oversees the formulation, interpretation, and upholding of…
Q: An insured's obligation to notify the insurer of a loss is stated in the policy's: O A. Provisions O…
A: Insurance policy is referred to as an agreement or contract that exists between two parties, that is…
Q: 1. John has a lending company. In his letter mailed on September 15, he offered to sell his business…
A: The scenarios presented encompass complex legal situations, delving into contract law and the…
Q: When an accountant or an attorney is asked to act as an agent, an agreement to compensate the agent…
A: An agent, as defined in legal contexts such as the Indian Contract Act of 1872, is an individual or…
Q: separated from her husband, whom she describes as frighteningly controlling, emotionally abusive,…
A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…
Q: Tying contracts, which is prohibited under the Clayton Act, refers to the situation where a producer…
A: In the realm of antitrust law, particularly under the provisions of the Clayton Act, certain…
Q: 1. Which of the following describes when a person does not understand that a contract is being made…
A: A contract is a legitimately obligatory agreement that establishes and directs the rights and…
Q: Considering the following statements true or false. 1.Circumstances whereby the CFA member breaches…
A: Disclaimer: Since you have posted a question with multiple sub-parts, so we will solve first three…
Q: The seller's agent has certain duties to the client-principal. Duties of the principal include…
A: The principal-agent relationship is a type of relationship in which the principal appoints an…
Q: Gerald Alexis has come to your bank, the First National Bank of (Your Jurisdiction)Limited, in order…
A: ConclusionIf the First National Bank did not give GA appropriate financial advice, disclose costs…
Q: True or False 1. Employees must be given the opportunity to give or withhold consent before their…
A: Employee monitoring is a common practice in organizations. Organizations are seen using different…
Q: David is a licensed agent who typically represents homeowners looking to sell their house. As an…
A: The objective of the question is to determine the type of agency relationship that David, a licensed…
Q: 22. The initials "HDC" in negotiable instruments refers to: A - Nothing B - Holder in Due Course C -…
A: Disclaimer- "Since you have asked multiple questions, we will solve the first question for you. If…
Q: Mary, a keen pottery collector, saw a notice in the Daily News for an auction at James Pottery…
A: The legal rules, concepts, definitions, and systems which govern, and decide the conflicts related…
Q: Two days after closing, The seller gives a $500 bonus to the selling agent. The agent should: a)…
A: Explanation : A bank reconciliation is process of matching of the balance in the accounts of an…
Q: Jeff says to Brenda, “I offer to sell you my PC for $900.” Brenda replies, “If you do not hear…
A: Contract law deals with agreements amongst private parties creating mutual obligations between them,…
Q: Reed, a manager for XYZ Products, issued company checks to pay his personal debts. So that no one…
A: The above case is about a person named R who is a manager at XYZ Products. R used business checks to…
Q: The Cheque is: * O An unconditional order made in writing O An unconditional order made in oral O A…
A: Correct Answer is Option A: An unconditional order made in writing
Q: The contract of sale is an onerous contract. a. True b. False
A: In many countries all-inclusive, where international regulators have decided that such contracts…
Q: Steven, an accountant, returning from his office, calls into a pub for a relaxing drink. He bumps…
A: Firstly, it's important to understand the legal position. In this case, Steven, as an accountant,…
Q: Mary, a keen pottery collector, saw a notice in the Daily News for an auction at James Pottery…
A: The legal rules, concepts, definitions, and systems which govern, and decide the conflicts related…
Q: 1.A borrowed P30,000.00 from B to be paid on September 10, 2016, in exchange for the loan, A…
A: Liability - It is signified as the legal responsibility for one's actions or omissions or the…
Q: Bill was appointed by Melinda to buy a painting at not more than $1 million. Bill eventually bought…
A: Please find the answer below.RATIFICATION :- Ratification is the formal approval of an unauthorized…
Q: The four agree to a formula under which they will price the shares pursuant to granting each other…
A: The objective of the question is to identify the type of restriction on transfer that is being…
Q: A director using confidential information to trade in a company's shares is MOST likely to be in…
A: A director will be obligated for the break of trustee obligation when he acts untrustworthily to the…
Step by step
Solved in 2 steps
- Joseph and Mai each bought shares of Apple stock at $200 per share. About a week later, Joseph called his stockbroker and told him that if Apple was trading below $195, he wanted to sell. The broker was very busy, so he didn’t check but Apple was trading at $194 per share. He told Joseph that it was not below $195, so Joseph did not sell the stock. Mai also called her stockbroker that day also and told him that if Apple was trading below $195, she wanted to sell. Once again, the broker was very busy, so he didn’t check but Apple was trading at $194 per share. He told Mai that it was not below $195. However, Mai saw the price on her computer and knew it was $94. However, Mai did not sell either. Apple dropped to $180 per share by the end of the day and they both sold suffering a large loss. They both sue the brokers. What are the probable outcomes of the suits?14) The person who gave assistance in agency relationship is known as agent. a) True b) False 15) The governing law for contract of sales is Sale of Goods Act 1957. a) True b) FalseA man named Bob Smith believes that he is Santa Claus (who delivers presents to all the children around the world on Christmas Eve). In fact, he is not Santa, but he has believed this for many years. He signs his name "Santa." He signs many contracts as "Santa," and he refers to his wife as "Mrs. Claus" even though her name is actually Betty Smith. She puts up with it, because he really does believe he is Santa, and because she loves him and because his wages from his job at Hasbro toys pays the bills. One day he enters a contract with your company to hire you to build him a gigantic workshop in his backyard so he can build his toys and stable his "eight tiny reindeer." In return he will pay you $120,000 for the construction. When his wife learns of this deal, she tries to reject it because it is voidable due to his lack of contractual capacity. Was this contract voidable, or valid and enforceable? Answer the questions.
- Bill offers to sell Mary his computer for $500. Mary counters with an offer of $400 Bill rejects this offer. Mary tells Bill: "OK, I'll buy the computer for $500." Bill tells Mary: "I've decided not to sell the computer after all." Bill is in breach of contract because Mary made a valid offer. True FalseBased on the book of Hector De Leon which is the " Law on Sales, Agency, and Credit Transactions", what is consensual contract? Explain thoroughly your answer.Specifically, "Network Modelling presents strong evidence for the informational value in business choices" for both strategic and operational choices. There should be solid arguments for and against the assumption in this debate.
- With a banker’s acceptance, certain conditions, such as delivery of the merchandise, may be specified before payment is made; True or FalseOn March 3rd 2009, the Fraud Examination Team, a department of the Bureau of Fraud Examination, received a call from Anton Valukas, chairman of the Chicago law firm Jenner & Block LLP. In early 2009, a bankruptcy court in New York assigned Valukas to investigate and report on the causes of Lehman Brothers Holdings Inc (LBHI)[1]’s 2008 bankruptcy. During this investigation, Valukas came across “Repo 105” and “Repo 108” transactions that Lehman used from 2001 to 2008. A “repo” or repurchase agreement is a form of short-term borrowing, whereby one party agrees to temporarily “sell” securities to another party at a specified price, while also committing to repurchase them at a future date, and at a usually higher preset price by the same buyer. While “repo” transactions are legal and are frequently used by investment banks as a means of obtaining short-term financing, Valukas stated that given the period of the fiscal year when these transactions were mostly conducted, as well as how…Fiona, Celine and Donna have recently commenced a business together making custard pies using the name 'FCD's Custard Pies' as their trading name. They also sell coffee and soft drinks. Only Donna has put capital into the business, and no formal agreement exists between them. However, on many occasions Fiona has purchased stock for the business from their various suppliers by using her own money, and she has also set up an account with the suppliers in the name of 'FCD's Custard Pies'. Celine also has often placed orders on behalf of the business with their various suppliers for stock. 00:0 At their next meeting Fiona suggests selling alcoholic beverages. Donna likes the idea, but Celine does not. Celine says that such a change would require renovation of the shop, and also obtaining a licence to sell alcohol. This requires an application to the relevant government authority, which may reject the application. After giving it lots of thought, Donna decides to leave the business in two…
- What is the main difference between contracts discharged due to operation of law and contracts discharged due to acts of the parties? Discharge due to acts of the parties never requires court intervention, whereas discharge due to operation of law always does. Discharge due to operation of law reflects at least one party's intent, whereas discharge due to acts of the parties doesn't necessarily reflect either party's intent. Discharge due to acts of the parties is legally binding, whereas discharge due to operation of law is not. Discharge due to operation of law doesn't necessarily reflect either party's intent, whereas discharge due to acts of the parties reflects at least one party's intent. 11 XIR Submit > 17In order for a principal to validly ratify a contract made by an agent:a) The agent must have made it clear he was acting as an agent and indicatedthe identity of the principal.b) The principal must have been able to enter into the contract himself at thetime it was ratified.c) The principal must have had the capacity when the agent made the contract.d) All of the above.Jayzam is a resident of Manila. He is also an export trader of chicks to a particular retailer in China. Over the years of his partnership with the Chinese retailer, he has accrued a total of Php 1,000,000 in liabilities. The Chinese retailer has an agent in Manila, and Jayzam has paid the agent in check for the amount of Php 1,000,000 upon demand. The check was determined to be “drawn against insufficient funds”. For the amount of Php 2, the Chinese retailer assigned the credit to Cami11e, who sued Jayzam for the recovery of Php 1,000,000. Jayzam filed a motion to dismiss the suit on the ground that Cami11e was not an interested party and therefore, has no legal right to sue him. Jayzam also asserts that he had not agreed to the change in creditor. Is Jayzam correct in his assertion? Include legal basis/bases in your answers.