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Simple Contract
In contract law, a ''simple contract'' is a contract made orally or in writing or both of them rather than a contract made under seal. Simple contracts require consideration to be valid, but simple contracts may be implied from the conduct of parties bound by the contract. William Blackstone observed in his ''Commentaries on the Laws of England'' that in the seventeenth century, debtors used simple contracts as one of three accepted forms of unsecured debt instruments. In 1828, the Parliament of the United Kingdom amended the statute of frauds so that oral acknowledgments or promises could not be used as evidence to prove the existence of a simple contract. Today, some American jurisdictions have established that a security interest is perfected "when a creditor on a simple contract cannot acquire a judicial lien that is superior to the interest" of the secured party.Timothy R. Zinnecker''Purchase Money Security Interests in the Preference Zone: Questions Answered and Questions Rai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract Law
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of the min ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consideration
Consideration is a concept of English common law and is a necessity for simple contracts but not for special contracts (contracts by deed). The concept has been adopted by other common law jurisdictions. The court in ''Currie v Misa'' declared consideration to be a “Right, Interest, Profit, Benefit, or Forbearance, Detriment, Loss, Responsibility”. Thus, consideration is a promise of something of value given by a promissor in exchange for something of value given by a promisee; and typically the thing of value is goods, money, or an act. Forbearance to act, such as an adult promising to refrain from smoking, is enforceable if one is thereby surrendering a legal right. Consideration may be thought of as the concept of value offered and accepted by people or organisations entering into contracts. Anything of value promised by one party to the other when making a contract can be treated as "consideration": for example, if A contracts to buy a car from B for $5,000, A's c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William Blackstone
Sir William Blackstone (10 July 1723 – 14 February 1780) was an English jurist, judge and Tory politician of the eighteenth century. He is most noted for writing the ''Commentaries on the Laws of England''. Born into a middle-class family in London, Blackstone was educated at Charterhouse School before matriculating at Pembroke College, Oxford, in 1738. After switching to and completing a Bachelor of Civil Law degree, he was made a fellow of All Souls College, Oxford, on 2 November 1743, admitted to Middle Temple, and called to the Bar there in 1746. Following a slow start to his career as a barrister, Blackstone became heavily involved in university administration, becoming accountant, treasurer and bursar on 28 November 1746 and Senior Bursar in 1750. Blackstone is considered responsible for completing the Codrington Library and Warton Building, and simplifying the complex accounting system used by the college. On 3 July 1753 he formally gave up his practice as a barris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commentaries On The Laws Of England
The ''Commentaries on the Laws of England'' are an influential 18th-century treatise on the common law of England by Sir William Blackstone, originally published by the Clarendon Press at Oxford, 1765–1770. The work is divided into four volumes, on the rights of persons, the rights of things, of private wrongs and of public wrongs. The ''Commentaries'' were long regarded as the leading work on the development of English law and played a role in the development of the American legal system. They were in fact the first methodical treatise on the common law suitable for a lay readership since at least the Middle Ages. The common law of England has relied on precedent more than statute and codifications and has been far less amenable than the civil law, developed from the Roman law, to the needs of a treatise. The ''Commentaries'' were influential largely because they were in fact readable, and because they met a need. The ''Commentaries'' are often quoted as the definitive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any form of financial instrument, even though the underlying legal and regulatory regime may not have such a broad definition. In some jurisdictions the term specifically excludes financial instruments other than equities and Fixed income instruments. In some jurisdictions it includes some instruments that are close to equities and fixed income, e.g., equity warrants. Securities may be represented by a certificate or, more typically, they may be "non-certificated", that is in electronic ( dematerialized) or "book entry only" form. Certificates may be ''bearer'', meaning they entitle the holder to rights under the security merely by holding the security, or ''registered'', meaning they entitle the holder to rights only if they appear on a secur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of The United Kingdom
The Parliament of the United Kingdom is the supreme legislative body of the United Kingdom, the Crown Dependencies and the British Overseas Territories. It meets at the Palace of Westminster, London. It alone possesses legislative supremacy and thereby ultimate power over all other political bodies in the UK and the overseas territories. Parliament is bicameral but has three parts, consisting of the sovereign ( King-in-Parliament), the House of Lords, and the House of Commons (the primary chamber). In theory, power is officially vested in the King-in-Parliament. However, the Crown normally acts on the advice of the prime minister, and the powers of the House of Lords are limited to only delaying legislation; thus power is ''de facto'' vested in the House of Commons. The House of Commons is an elected chamber with elections to 650 single-member constituencies held at least every five years under the first-past-the-post system. By constitutional convention, all governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statute Of Frauds Amendment Act 1828
The Statute of Frauds Amendment Act 1828 (9 Geo 4 c 14), commonly known as Lord Tenterden's Act, was an Act of the Parliament of the United Kingdom. Lord Tenterden served as Lord Chief Justice of the King's Bench between 1818 and 1832. Its purpose was for "rendering a written Memorandum necessary to the Validity of certain Promises and Engagements".UK LegislationStatute of Frauds Amendment Act 1828 Introduction, accessed 31 October 2022 History The Act received royal assent on 9 May 1828. It Act was adopted in New South Wales by the Act 4 Will 4 No 17 (1834), and extended to the territories of the East India Company by Act No XIV of 1840. Sections 1 to 4, so far as they related to personal actions or actions of ejectment in the Superior Courts of Law in Ireland, were repealed by section 3 of, and Schedule A to, the Common Law Procedure Amendment Act (Ireland) 1853 (16 & 17 Vict c 113), subject to the exceptions in section 3 of that Act. Contents Preamble The preamble said tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New England Mutual Life Insurance Co
New is an adjective referring to something recently made, discovered, or created. New or NEW may refer to: Music * New, singer of K-pop group The Boyz Albums and EPs * ''New'' (album), by Paul McCartney, 2013 * ''New'' (EP), by Regurgitator, 1995 Songs * "New" (Daya song), 2017 * "New" (Paul McCartney song), 2013 * "New" (No Doubt song), 1999 *"new", by Loona from '' Yves'', 2017 *"The New", by Interpol from ''Turn On the Bright Lights'', 2002 Acronyms * Net economic welfare, a proposed macroeconomic indicator * Net explosive weight, also known as net explosive quantity * Network of enlightened Women, a conservative university women's organization * Next Entertainment World, a South Korean film distribution company Identification codes * Nepal Bhasa language ISO 639 language code * New Century Financial Corporation (NYSE stock abbreviation) * Northeast Wrestling, a professional wrestling promotion in the northeastern United States Transport * New Orleans Lakefront Air ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Company Seal
A company seal (sometimes referred to as the corporate seal or common seal) is an official seal used by a company. Company seals were predominantly used by companies in common law jurisdictions, although in modern times, most countries have done away with the use of seals. In the UK, a company may have a company seal under the provisions of Companies Act 2006 section 45. It may have further seals for other territories and for issuing securities. These seals have the additional legend of the territory or the word SECURITIES. A company may wish still to seal documents as a means of protection against forgery. Traditionally, the seal was of some legal significance because the affixing of the seal signified that the document was the act and deed of the company, whereas when a document was merely signed by a director, then that was deemed to be an act carried out on behalf of the company by its agents, which was subject to applicable restrictions and limitations under the ordinary law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
In law, common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions."The common law is not a brooding omnipresence in the sky, but the articulate voice of some sovereign or quasi sovereign that can be identified," ''Southern Pacific Company v. Jensen'', 244 U.S. 205, 222 (1917) (Oliver Wendell Holmes, dissenting). By the early 20th century, legal professionals had come to reject any idea of a higher or natural law, or a law above the law. The law arises through the act of a sovereign, whether that sovereign speaks through a legislature, executive, or judicial officer. The defining characteristic of common law is that it arises as precedent. Common law courts look to the past decisions of courts to synthesize the legal principles of past cases. '' Stare decisis'', the principle that cases should be decided according to consistent principled rules so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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