[sasha]

ok thank you sir

[sasha]

oh i got it.. thank you 🙂

[sasha]

agent having apparent authority entered into contract and incurred liabilities. can principal deny from A’s authority?

[sasha]

if agent exceeds it’s authority and incurred liabilities, who is liable for third party. agent or principal?

[sasha]

okay I got it 🙂

but one thing ”The authority that the third party expects the agent to have” ..which authority is this?.
is it express and implied authority ?

[sasha]

thank you 🙂

[sasha]

Bank owe duty of care to company. isn’t it ? Bank has responsibility to give correct information about creditors. so hasn’t it been breach of duty of care irrespective of disclaimer?

I apologize for sticking into same topic .

[sasha]

1. sir I understood the case of Hedley Byrne v Heller and partners but still confused. In this case, there was a disclaimer so claimant could not claim the loss. But , if there was not disclaimer could Hedley Byrne claim the loss?

[sasha]

sir if promise was given after marriage then would uncle be obliged to pay him? because in some cases of past consideration I have come across with ” implied promise’ so I just got confused .

[sasha]

thank you sir

[sasha]

I still have confusion sir. in shadwell v shadwell case promise was given after marriage isn’t it? so doesn’t it come under past consideration?

I am not in hurry ,I am taking CBE exam. 🙂 I just want to clear doubts on topic I get stuck . 🙂

[sasha]

sir I got bit confused in specific performance and rescission. specific performance says just do it. do your contractual obligations.

Rescission means restoring pre-contractual position. here also, we have to carry our contractual obligation.

so I could not spot main differences between these two

[sasha]

hahhahahahhaaha… ok sir 🙂

[sasha]

ok sir 🙂

[sasha]

I did not understand the case of Shadwell v Shadwell. In book this case is given under the title ” The performance of an existing contractual obligation is sufficient consideration to support a promise from a third party”

I neither understood the title nor the case 🙁 I even googled but failed to understand

[sasha]

online delivery was stupid question .. sorry.. I myself understood that context 🙂

[sasha]

Could you have known, or could you reasonably have been expected to know, that your entity would not be able to avoid commencing an insolvent liquidation within the next 12 months?

so if this is a case, it is wrongful. right? my intention is to pay .. so i guess it’s not a fraudulent 🙂

[sasha]

my company has large debt . i know I couldn’t pay that debt but still I ask loan with other creditors. so is this wrongful or fraudulent ?

[sasha]

yes sir I quite understood. 🙂

[sasha]

omg!! happiness is when u get answer correct unexpectedly 😀
thank you sir 🙂

[sasha]

okay sir 🙂

[sasha]

sir can also tell me the amount that goes to P/L in all those 3 conditions.

I guess no amount goes to P/l in 1st condition. not sure though 🙁

[sasha]

ok i got it 🙂

sir let’s say production start from below years

1. 1st jan 2008 itself
so here we need to record 200000 only?

2. 1st jan 2010
so here we have to record the amount 200000+30000.. right?

3. if it says production didn’t begin at all 😀

[sasha]

thank you sir. 🙂

[sasha]

sir i did not get the point.. 🙁

firstly,why the cost of january 60000 not added with 200000 ?

” Amortisation should commence only after you have income / revenue against which to match the expense”. but you have added amortization 15000 with 200000. why?

[Author]

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