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Theory behind promissory estoppel
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Identification of Parties There are two parties involved in this legal case. The two parties are: 1. Solar Energy Power Plant Company (SEPP) 2. Utility Supply (US) SEPP designs solar energy power plant for a regional town. US supply the panels for the power plant. Facts and Assumptions Facts The SEPP wants to design and built a 5 stars standard solar energy power plant which standard is determined by EEC. The panels used to build the power plant are provided by the US. US must provide a certificate for the panels from EEC at each stage to verify the standard of the panels before SEPP made the payments. The certificate of panels from EEC is an ‘invitation of treat’. There is a promise between SEPP and US which SEPP advise US that the certificate is not necessary and SEPP had made two progress payments without the provision of the panel certificates from EEC. Assumptions Assume the contract between SEPP and US was been written properly and provide sufficient details of the information in the contract between them. Assume the contract has clearly stated that SEPP made the payments in stages and at each stage US must provide certificate from EEC before SEPP made the payments. Legal Principles According to the contact law, the standard bargain theory of contract stated that the promise will not bind unless there is some price or payment is made. The payment or price may be a promise. However, there are some situations in which a non-contractual promise might not give arise of the right to sue for damages if it is proven as false but it can give arise to binding obligations. Promissory estoppel is a relatively new development to contract law but it is important doctrine where a non-contractual promise lacking consideration provided... ... middle of paper ... ...t, we should the statements in the contract and ensure all parties that follow and obey their obligations to lead the business successful. All action such as arrangement or payment is right and must follow the statements under the contract. Last but not least, regular evaluate and report performance of contract, do documentation clearly and follow up the policies or procedures if it is necessary to avoid any conflict or violate the contract law under unconscious. Bibliography Reichman, C. 2014, MME40001 Engineering Management 2, Legal Imperative, week 9, Contracts, lecture PowerPoint Slides, viewed 21th May 2014. https://ilearn.swin.edu.au/ Australian Contact and Consumer Law 2008, Australian Contact Law, viewed 25h May 2014. http://www.australiancontractlaw.com/ Agreement 2013, Australian Contact Law, viewed 25th May 2014. http://www.australiancontractlaw.com/
Maria had spoken with Eva over the phone concerning the correct total amount of $60,000 for rendering decorating services provided by Eva. Maria had sent a letter of the telephone conversation stating that Eva agreed to take $60,000 in full satisfaction obligation under the contract. Although Eva, changed her mind when depositing the check in the bank, she legally entered a mutual agreement over the telephone where it resulted in a unliquidated debt, payment is lower than actual.
Legally enforceable "A contract is a legally enforceable promise or set of promises. In other words, when promises have the status of contract, the contracting party harmed by a breach of the contract is entitled to obtain legal remedies against the breaching party." (Scheffel, Evan, and Jane P. Mallor, 2010. Chapter 9, Page 321) The Lambert v. Barron case showed us an example of what happens when a contract does not contain all elements to become a legally enforceable contract. Mr. Barron did not accept the offer, Mr. Lambert made no promise to recover money from the disputed contracts owed to Mr. Barron, so there was no promise to perform.
A promissory estoppel is present if one party makes a promise to the other knowing that the other will rely on it. If the other party relies on it, there would be an injustice if the promise was not enforced. In the case of Sam and the chain store, unless the chain store had already paid him and/or spent money in anticipation of the arrival of the 1000 units, promissory estoppel would not be present since they did not rely on Sam’s promise. However, since the text reads that the chain store wrote a letter to Sam demanding that the 1000 units be sent, it implies that they had relied upon that
A determination needs to be made if MC Electric is required to pay GB the 50% commission on the deal. When determining whether or not the contract is binding, the area of law involved would be contract law.
IN CONSIDERATION OF the mutual obligations and benefits described in this Agreement, the sufficiency and receipt of which consideration is hereby acknowledged, the two parties come to an agreement
Party identification is something that many people have, because everyone has their own beliefs, including me. Party identification is what party we consider ourselves to align with politically. I consider myself part of the Democratic Party. There is only one reason for me to consider this as my political identification and that is because of my family. My family believes with what the democrats offer their constituents. Democrats are against gun regulations and are for abortions because women should be able to do whatever they want with their body. While the Republicans are against abortions and for guns. These are two examples out of many from two of these political parties. My party identification is influenced heavily by my family, and
Party identification is an individual’s preference for one political party or the other. It is important because most voters identify with one of the two major political parties. This causes party identification to be one of the best ways to predict voting behavior. I view partisanship as a form of identity which develops early in a person's life as a result of familial, social, and environmental factors. I believe that the influence of childhood is especially significant in shaping party identification because of the amount of time and emotional commitment from these factors that begin at birth. However, I believe as people grow older, party identification becomes more of a conscious
Also, to comply with the policies and procedure and code of practice and ensure that records are up to date and properly maintained. And make sure that the health and safety policy is followed to the latter.
The SWOT analysis of the strengths, weakness, opportunities, and threats is a summary of the good scenario that this company currently face (Peng, 2012). The major strengths that Canadian Solar presents are its capability to quickly diversify its portfolio to truly reach the needs and wants of its costumers and potential customers. The heavy investment in research and development allowed and continues to allow Canadian Solar to provide products and services with both high-quality standards and cost differentiation. The company offers to its customers a high quality of products and services with a low price. In fact, they have undertaken in many subsidiaries to produce most of its raw materials and components in a local market and countries such as China where the labor and manufacturing cost is low. Turning to talk about the weakness, according to its value chain and investment in many subsidiaries, Canadian Solar may face difficult to adapt its internal operation in order to maintain its profitability in a case its major competitor such as the government decrease the energy consumption. Moving to discuss the opportunities, the Canadian Solar has the facility to penetrate and undertake in a new country due to a strong relationship with the governments inside and outside Canada. Canadian Solar acquired the opportunity to obtain funds such as working capital to support its normal activities as well as to invest from a major bank in Suisse by does not being confined in the relationship only with Chinese banks. As the last analysis, the major threats that Canadian Solar faces are the fact that its biggest customers are the government and they are in a commodity market. These fact themselves can directly affect the demand for its products and services. The government has the power to control the
HILLIARD, J. And O’SULLIVAN, J. (2012) The Law of Contract [Online] 5th Ed. Oxford: Oxford University Press. Available from - http://books.google.co.uk/ [Accessed: 2nd January 2014]
There are three basic essentials to the creation of contract which will be recognised and enforced by the courts. These are: contractual intention, agreement and consideration.
As a result of the Commission's investigation, Samsung committed to not seek injunctions in Europe on the basis of SEPs for mobile devices for a period of five years against any potential licensee of these SEPs who agrees to accept a specific licensing framework. The commitments given by Samsung shed some light on the circumstances in which the Commission considers that a prospective licensee is “willing". Essentially the commitments
The basic law of a contract is an agreement between two parties or more, to deliver a service or a product. And reach a consensus about the terms and conditions that is enforced by law and a contract can be only valid if it is lawful other than that there can’t be a contract. For a contract to exist the parties must have serious intentions, agreement, contractual capacity meaning a party must be able to carry a responsibility, lawful, possibility of performance and formalities. Any duress, false statements, undue influence or unconscionable dealings could make a contract unlawful and voidable.
“When a party makes a promise to another, either within or outside the context of a contract, where that promise places an obligation on the party but where that party does not receive anything in return (no consideration), then the promise is said to be gratuitous…As a gratuitous promise has no consideration, it will in most cases not result in any obligations on the party making the
A dispute about an international contract may have foreign elements and thus one or both of the parties may be foreign, or the making or performance of the contract, or its terms, may be connected with one or