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Oral Contracts

Name Instructor Course Date Oral Contracts Despite the increasing acceptance of oral contracts as legally binding agreements, they should not be enforceable in certain situations. It is essential to note that the Statute of Frauds concept necessitates specific forms of contracts such as loans exceeding $100,000 to be put in writing for them to be regarded as enforceable (Krauja 2). Other circumstances that demand the use of written contracts include leases exceeding one year, lifetime agreements, and the sale of merchandise for $500 and beyond (Krauja 2). The general rule about conventions is that important transactions or commitments should be in a written form to guarantee their...

Personal Experience on Ethical Dilemma Revised

Personal Experience on Ethical Dilemma Student’s Name Institution Personal Experience on Ethical Dilemma Ethical behavior is an important aspect of the business success and profitability. Having ethical behavior in business means to obey appropriate laws and regulations, being honest, competing fairly and putting own curiosity above those of your own business and its workers. Social responsibility is the tactic that a company uses in balancing its accountability toward various stakeholders when making social, ethical, legal and economic decisions (Skripak, 2016). Doing the right thing is a key motivator for a company to be socially responsible. Most customers consider price and quality when...

Limit or cap in a tort case

Student’s Name Professor Course Date Limit or Cap in a Tort Case The reforms of tort refer to a group of ideas which are set to revolutionize the legislation of the civil justice system with the aim of enhancing a reduction in tort litigation as well as damages. However, this raises questions on whether such reforms should be implemented to put a limit or a cap on the number of damages awarded to the plaintiff or not. An exploration of the reasons as to why a cap or a limit should not be there on the number of damages granted to the plaintiff is vital in understanding tort reforms. The limitation of the number of damages awarded as compensation to the plaintiff carries the potential of...

Business Ownership Revised

Business Ownership Name Institution Affiliation Date Business Ownership If I have a chance to start up a new business, I will choose the sole proprietorship form. The risk management context for the sole proprietorship is easier this enhancing business continuity. However, in my opinion, the majority of the small-scale enterprises have utilized the form of single proprietorship. The reasons why I would choose the form of the sole proprietorship include and not limited to the ease of management. The formation of the single proprietorship legal form of business is simple and enhances the aspect of decision making. The business forms with a complex structure such as a corporation may face...

The law of tort

The law of tort Jim can sue for damages because the defendant i.e. Ruth owed a duty of care to the plaintiff and for reasonable action. She is to conduct herself in a reasonable and particular manner and by her not doing so she becomes subject to liability for injury to any person to whom she owes the duty of care. Leaving her car parked on a steep hill without a parking brake is unreasonable and torturous because, in tort that involves negligence, even if the tortfeasor neither believes that the accident will occur nor do they wish to bring about the consequences of their action. Ruth breached this duty through her actions that created a risk of injury resulting from negligence (Morissette...