Search results
Results from the WOW.Com Content Network
Novation, in contract law and business law, [1] is the act of – . replacing an obligation to perform with another obligation; or; adding an obligation to perform; or; replacing a party to an agreement with a new party.
Kandyan law is the customary law that originated in the Kingdom of Kandy, which is applicable to Sri Lankans who are Buddhist and from the former provinces of the Kandyan Kingdom before the 1815 Kandyan Convention. It is one of three customary laws which are still in use in Sri Lanka. The other two customary laws are the Thesavalamai and the ...
The legal system in Sri Lanka comprises collections of codified and uncodified forms of law, of many origins subordinate to the Constitution of Sri Lanka which is the highest law of the island. Its legal framework is a mixture of legal systems of Roman-Dutch law , English law , Kandian law , Thesavalamai and Muslim law .
Business law consists of many different areas of law, including: contracts, the law of corporations and other business organizations, securities law, intellectual property, antitrust, secured transactions, commercial paper, income tax, pensions and benefits, trusts and estates, immigration law, labor law, employment law, and bankruptcy. It is a ...
The parol evidence rule is a rule in common law jurisdictions limiting the kinds of evidence parties to a contract dispute can introduce when trying to determine the specific terms of a contract [1] and precluding parties who have reduced their agreement to a final written document from later introducing other evidence, such as the content of oral discussions from earlier in the negotiation ...
Money damages are a kind of "substitute specific performance." Indeed, it has been proposed that substitute specific performance better explains the common law rules of contract as well, see (Steven Smith, Contract Law, Clarenden Law ). In English law, in principle reparation must be done in specie unless another remedy is more appropriate. [12]
An assignment does not necessarily have to be made in writing; however, the assignment agreement must show an intent to transfer rights. The effect of a valid assignment is to extinguish privity (in other words, contractual relationship, including right to sue) between the assignor and the third-party obligor and create privity between the obligor and the assignee.
A novated lease is a motor vehicle lease which has been novated, that is, the obligations in the contract have been transferred from one party to another.. A lease is novated with a three way agreement (Deed of novation) between the lessee, the lessor (usually a finance company), and a third party, under which all parties agree that the third party will take on some or all of the lessee's ...