Which relation can we extract from the legal concept of property with the bargaining theory? Could our assumptions change if the liability of the parties is changeable? Ronald Coase’s essay, ‘The Problem of Social Cost’ is still a focus of controversy and discussion, since most researchers still cannot agree with the premise that the Coase Theorem tries to convey , claiming that the law should follow the principle of efficiency of the economic field. Does every legal case have an economic perspective that should be taken into account by the court before making a
The reason for this is that the act of demanding rent recognises that the tenancy is continuing even after the breach has occurred. However, if the breach itself then continues, the right to forfeit, though waived on one occasion, will arise again. Landlords should always get legal advice on their options in taking forfeiture action because it carries significant risks. For example, if not done properly, forfeiture can expose a landlord to a significant damages claim by the tenant. Ending the tenancy for non-payment of rent The landlord can use either the CRAR procedure (mentioned above) or can forfeit the lease, but cannot do both.
58.According to Art. 74 CISG, only when the loss was foreseeable by the other party can the injured party be entitled to demand compensation of profit lost as a consequence of the breach of contract by the other party. [UNCITRAL CISG DIGEST, p. 347]. In this case, however, CLAIMANT’s loss was unforeseeable for RESPONDENT. 1.
Misrepresentation definition A voidable contract is an agreement between two parties that may become unenforceable for several of legal reasons. There are many reasons why the contract can be voidable such as failure by one or both parties , misrepresentation ,a mistake, undue influence or duress, one party 's legal incapacity to enter into a contract, one or more terms that are unconscionable, or a breach of contract. Misrepresentation is one of the vitiating factors and we can identify it as fraudulent, negligent, or innocent misstatement, or an incomplete statement, of a material fact. If a specific misrepresentation induces the other party to enter into a contract, that party may have the legal right to end the contract or claim for damages.
Hence, from this case law it can be understood that indemnity in English law means a promise to save a person harmless from the consequences of an act. The promise may be express or it may be implied from the circumstances of the case. Whereas, according to Section 124 of the Indian Contract Act, 1872, a contract of indemnity is “a contract by which one party promises to save the other from loss caused to him by the contract of the promisor himself, or by the conduct of any other person”. Which in in most simple meaning says a contract of indemnity is one in which there is a promise to compensate for another’s
But a consideration of case law reveals a trend which shows the tort has been of a varied nature with the courts extending its reach beyond the classic trinity. This has left its scope or boundaries unclear. From its classical expression ‘of protecting a trader’s goodwill from misappropriation only where that misappropriation is effected by means of a misrepresentation’ there are calls for its development into a broad tort that deals with misappropriation of valuable
Secondly is that whether is there any real loss or damages that had been proven or not? Thirdly,whether plaintiff suffered hardship caused by the misrepresentation and lastly whether is this case is suitable case to warrant an order of rescission? In this case, the judge had held that
In a bargain in a contract or an agreement, the promise induces the promisor to give a promise. The promicee might take the type of anything from cash to merchandise to benefit. However if a bargaining takes place between the two parties, it also gives rise to the ability of non fulfilment of promise. The damage measured under this bargaining theory is known as expectation damages. A particular damage remedy can be considered efficient only if it makes a party take an appropriate decision and the very same decision it would have otherwise taken under an efficient
Where the accused has an option of admitting guilt and settling for a lesser punishment is called sentence bargaining. Negotiation which involves an admission to certain facts in return for agreement not to introduce certain other facts is fact bargaining. Plea Bargaining concept is time saving, provides compensation to victims, benefits the accused, but on contrary, it is unfair, contempt for system, lead to coercion, derailment of trial, might cause conviction of innocents and If the plead guilty application of the accused in rejected then the accused would face great hardship to prove himself
U2L4J-Explain three damages that a person can sue for if a contract is breached When one party breaches the contract, the affected person or party can seek legal help. The three most basic damages are; compensatory damages, they are monetary damages and happens to ensure the affected individual is compensated. This type of damage is categorised into two, expectation and consequential damages. The expectation damages are aimed to offset what the affected party anticipated to gain assigned in the contract. The consequential damages are projected to compensate the injured party.