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English Contract Law
English contract law is the body of law that regulates legally binding agreements in England and Wales. With its roots in the lex mercatoria and the activism of the judiciary during the industrial revolution, it shares a heritage with countries across the Commonwealth (such as Australia, Canada, India), from membership in the European Union, continuing membership in Unidroit, and to a lesser extent the United States. Any agreement that is enforceable in court is a contract. A contract is a voluntary obligation, contrasting to the duty to not violate others rights in tort or unjust enrichment. English law places a high value on ensuring people have truly consented to the deals that bind them in court, so long as they comply with statutory and human rights. Generally a contract forms when one person makes an offer, and another person accepts it by communicating their assent or performing the offer's terms. If the terms are certain, and the parties can be presumed from their beha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agency In English Law
Agency in English law is the component of UK commercial law that deals with the application of agency law in the United Kingdom, and forms a core set of rules necessary for the smooth functioning of business. In 1986, the European Communities enacted Directive 86/653/EEC on self-employed commercial agents. In the UK, this was implemented into national law in the Commercial Agents Regulations 1993. Authority An agent who acts within the scope of authority conferred by their principal binds the principal in the obligations the agent creates with third parties. There are essentially two kinds of authority recognised in the law: actual authority (whether express or implied) and apparent authority. Actual authority Actual authority can be of two kinds. Either the principal may have expressly conferred authority on the agent, or authority may be implied. Authority arises by consent, and whether it exists is a question of fact. An agent, as a general rule, is only entitled to indemnity ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roman Law
Roman law is the legal system of ancient Rome, including the legal developments spanning over a thousand years of jurisprudence, from the Twelve Tables (c. 449 BC), to the '' Corpus Juris Civilis'' (AD 529) ordered by Eastern Roman emperor Justinian I. Roman law forms the basic framework for civil law, the most widely used legal system today, and the terms are sometimes used synonymously. The historical importance of Roman law is reflected by the continued use of Latin legal terminology in many legal systems influenced by it, including common law. After the dissolution of the Western Roman Empire, the Roman law remained in effect in the Eastern Roman Empire. From the 7th century onward, the legal language in the East was Greek. ''Roman law'' also denoted the legal system applied in most of Western Europe until the end of the 18th century. In Germany, Roman law practice remained in place longer under the Holy Roman Empire (963–1806). Roman law thus served as a basis fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ancient Greek Law
Ancient Greek law consists of the laws and legal institutions of Ancient Greece. The existence of certain general principles of law is implied by the custom of settling a difference between two Greek states, or between members of a single state, by resorting to external arbitration. The general unity of Greek law shows mainly in the laws of inheritance and adoption, in laws of commerce and contract, and in the publicity uniformly given to legal agreements. While its older forms can be studied by the laws of Gortyn, its influence can be traced in legal documents preserved in Egyptian papyri and it may be recognized as a consistent whole in its ultimate relations to Roman law in the eastern provinces of the Roman empire, with scholars in the discipline of comparative law comparing Greek law with both Roman law and the primitive institutions of the Germanic nations. Historical sources There is no systematic collection of Greek laws; the earliest notions of the subject are derive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Pleas
A court of common pleas is a common kind of court structure found in various common law jurisdictions. The form originated with the Court of Common Pleas at Westminster, which was created to permit individuals to press civil grievances against one another without involving the King. List * Court of Common Pleas at Westminster * Court of Common Pleas (Ireland) * Court of Common Pleas of the County Palatine of Durham * Court of Common Pleas of the County Palatine of Lancaster * Delaware Court of Common Pleas * New York Court of Common Pleas * New Jersey Court of Common Pleas * Ohio Courts of Common Pleas Ohio () is a state in the Midwestern region of the United States. Of the fifty U.S. states, it is the 34th-largest by area, and with a population of nearly 11.8 million, is the seventh-most populous and tenth-most densely populated. The ... * Pennsylvania Courts of Common Pleas * South Carolina Court of Common Pleas {{SIA ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Illegality In English Law
Illegality in English law is a potential ground in English contract law, tort, trusts or UK company law for a court to refuse to enforce an obligation. The illegality of a transaction, either because of public policy under the common law, or because of legislation, potentially means no action directly concerning the deal will be heard by the courts. The doctrine is reminiscent of the Latin phrase "Ex turpi causa non oritur actio", meaning "no cause of action arises from a wrong". The primary problem arising when courts refuse to enforce an agreement is the extent to which an innocent party may recover any property already conveyed through the transaction. Hence, illegality raises important questions for English unjust enrichment law. Overview One of the earliest reported cases is '' Everet v Williams'' (1725) where two Highwayman had a legal dispute over the proceeds of their robberies. The court declined to entertain the suit, and both litigants were later hanged. In another ea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capacity In English Law
Capacity in English law refers to the ability of a contracting party to enter into legally binding relations. If a party does not have the capacity to do so, then subsequent contracts may be invalid; however, in the interests of certainty, there is a prima facie presumption that both parties hold the capacity to contract. Those who contract without a full knowledge of the relevant subject matter, or those who are illiterate or unfamiliar with the English language, will not often be released from their bargains. It is recognised however that minors, and those who are deemed mentally incapacitated, may need to be able to create binding agreements, when acquiring essential items for living, or for employment.Koffman, Macdonald, 466 Thus, contracts for necessaries (goods or services deemed necessary for ordinary living) will always be legally binding.Halson, 242 Equally, minors have the capacity to enter into contracts for employment, when the terms of such an agreement are of gen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unconscionability In English Law
Unconscionability in English law is a field of contract law and the law of trusts, which precludes the enforcement of voluntary (or consensual) obligations unfairly exploiting the unequal power of the consenting parties. "Inequality of bargaining power" is another term used to express essentially the same idea for the same area of law, which can in turn be further broken down into cases on duress, undue influence and exploitation of weakness. In these cases, where someone's consent to a bargain was only procured through duress, out of undue influence or under severe external pressure that another person exploited, courts have felt it was unconscionable (i.e., contrary to good conscience) to enforce agreements. Any transfers of goods or money may be claimed back in restitution on the basis of unjust enrichment subject to certain defences. Considerable controversy is still present over whether "iniquitous pressure" must actually be exercised by a defendant in order for a voluntar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Misrepresentation In English Law
In common law jurisdictions, a misrepresentation is a false or misleading '' R v Kylsant'' 931/ref> statement of fact made during negotiations by one party to another, the statement then inducing that other party to enter into a contract. The misled party may normally rescind the contract, and sometimes may be awarded damages as well (or instead of rescission). The law of misrepresentation is an amalgam of contract and tort; and its sources are common law, equity and statute. In England and Wales, the common law was amended by the Misrepresentation Act 1967. The general principle of misrepresentation has been adopted by the United States and other former British colonies, e.g. India. Representation and contract terms A "representation" is a pre-contractual statement made during negotiations. If a representation has been incorporated into the contract as a term, then the normal remedies for breach of contract apply. Factors that determine whether or not a representation has bec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Specific Performance
Specific performance is an equitable remedy in the law of contract, whereby a court issues an order requiring a party to perform a specific act, such as to complete performance of the contract. It is typically available in the sale of land law, but otherwise is not generally available if damages are an appropriate alternative. Specific performance is almost never available for contracts of personal service, although performance may also be ensured through the threat of proceedings for contempt of court. Specific performance is commonly used in the form of injunctive relief concerning confidential information or real property. While specific performance can be in the form of any type of forced action, it is usually to complete a previously established transaction, thus being the most effective remedy in protecting the expectation interest of the innocent party to a contract. It is usually the opposite of a prohibitory injunction, but there are mandatory injunctions that have a s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gain (accounting)
In financial accounting (CON 8.4), a gain is when the market value of an asset exceeds the purchase price of that asset. The gain is unrealized until the asset is sold for cash, at which point it becomes a realized gain. This is an important distinction for tax purposes, as only realized gains are subject to tax. Gains are the result of circumstances, events, or transactions which affect the entity independent of revenue or owner investments. They are usually the result of holding gains, exchange transactions, events, or nonreciprocal transactions. Types of gain # "Events" while loss events such as natural catastrophes are fairly common, gain events are rare. Their defining feature is that they are nonreciprocal (the reporting entity does not expend anything of measurable economic value in return) and beyond the control of the entity reporting the gain. An example of a gain event would be a that company acquired land with the intent of constructing a manufacturing facility, but di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Restitution
The law of restitution is the law of gains-based recovery, in which a court orders the defendant to ''give up'' their gains to the claimant. It should be contrasted with the law of compensation, the law of loss-based recovery, in which a court orders the defendant to ''pay'' the claimant for their loss. Evolving Meaning '' American Jurisprudence'' 2d edition notes: Legal vs Equitable Remedy Restitution may be either a legal remedy or an equitable remedy, "depend ngupon the basis for the plaintiff's claim and the nature of the underlying remedies sought". Generally, restitution and equitable tracing is an equitable remedy when the money or property wrongfully in the possession of defendant is traceable (i.e., can be tied to "particular funds or property"). In such a case, restitution comes in the form of a constructive trust or equitable lien. Where the particular property at issue cannot be particularly identified, restitution is a legal remedy. This occurs, for examp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
