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Topic: business and corporate law

Pages/Words: 3Pages/750 Words

A purchased a mobile cell from B a dealer there were many defects in the cell which rendered it unfit for use A sued B for breach of warranty Braised the defense that the defects were latent and unknown to him and could not have reasonably been discovered could B avoid liability on this ground^ 2. X who resides abroad. Appoints Y to undertake the construction of a house on the land he has secured in leas at Adama Y created a transaction in writing for the constriction with independent contractor W. Y has also entered into a contract with A to M for guarding the house under Construction and the Construction material pooled on the land yet. Y concludes all these contracts in his own name and his contracting parties do not know he is an agent answer the following question based on the fact given in the case.

• Can Y bind X by a contract he created with M?
• Is W liable to X for the Constriction of the house? Why? Why not?

1. What do we mean by law and business law?

• Law is one of the methods of social contrast made by man you might have came across the word law quite often there are rules governing games whatever your religion .there is also the law of nature.
• Business law a body of private law that regulates the relationship between individuals with respect to their business transaction.

2. How do you distinguish legal rules from other social control mechanisms? Explain it in light of the salient features of law.

Law can be seen as a system of rules or social behavior and the rules making up its system are more general statement on possible human behavior.

Law is distinguished from other social control mechanisms such as moral. Social and religious rules because it has its one unique future which are not manifested in social control mechanisms this futures include generality .normatively and sanction. Please kindly refer the detail from your study on features of law and the table provided in the body of section dealing with legal and non legal norm

 

3. Briefly discus sources of law.

Sources of law is used in different contests it may mean the origin from which a particular legal rule is derived (the material historical source) or the organ from where the law drives its binding force (formal source) or the document where a particular legal rule is to be obtained (literary source) the meaning of the term depend on how we approach to study the source of law.

 

4. Explain briefly the condition where by a physical person could get personality.

Personality is granted to two catties and or beings one is physical or natural   Personality that is possessed by human being in the past .not all human being were subjects of the law for instance slaves were regarded as more chattels of their masters and did not have any right or duties of their own they were object of legal transaction rather than subjects of the law. Thus during that time Personality was conferred upon none, slaves but these days with the abolition of slavery and its strict prohibition virtually all human being presses Personality and perform juridical acts the other type of Personality is that accorded to beings that do not have material existence association’s company’s organization partnership. Corporation or even the state is only perceived by the law to exist.

5. What are the requirements for the formation of valid contract in Ethiopia?

According to Article 1678 of the Ethiopian Civil code .no valid contract shall exit unless the parties are capable of contracting and give their consent sustainable at law. The object of contract is sufficiently defined and is possible and lawful. And the contract is made in the form prescribed by law .if any*

6. Discuss briefly the effect of non performance of a contract validity formed.

Non performance of a contractual obligation refers the branch or the non compliance with the promise made in the contract the branch of contractual obligation exists when a party totally fails out the obligation. If we make fundamentally defective   performance or makes a delayed performance the case defective performance (e.g. partia performance) and delayed discharge are to be closely scrutinized to decide if they really constitute non performance.

7. A purchased a mobile cell from B a dealer there were many defects in the cell which rendered it unfit for use

A sued B for breach of warranty B raised the defense that the defects were latent and unknown to him and could not have reasonably been discovered could B avoid liability on this ground^

 

8. X who resides abroad.

Appoints Y to undertake the construction of a house on the land he has secured in leas at Adama Y created transaction in writing for the constriction with independent contractor W. Y has also entered into contract with A to M for guarding the house under Construction and the Construction material pooled on the land yet. Y concludes all these contracts in his own name and his contracting parties do not know he is an agent answer the following question based on the fact given in the case.

• Can Y bind X by a contract he created with M?
• Is W liable to X for the Constriction of the house? Why? Why not?