Remedies for Breach of Contract: Rescission, Damages, Specific Performance
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Equity represents an ownership interest in a corporation. Key characteristics include:
Debt is not an ownership interest in the firm. Creditors do not usually have voting power. The corporation’s payment of interest on debt is considered a cost of doing business and is fully tax-deductible. Conversely, dividends are paid out of after-tax dollars. Unpaid debt is a liability of the firm; if... Continue reading "Corporate Finance: Equity vs Debt Fundamentals" »
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A check is a bill of exchange drawn on behalf of a banker, which is payable on demand by the banker.
The drawer gives the payee a written order that directs the drawee to pay money to the payee or to whomever the payee designates through an appropriate endorsement. The payee must collect the money from the drawee by physically presenting the draft and demanding payment. Checks are distinct from other instruments because they are drawn on a bank and are payable on demand.
A promissory note is an... Continue reading "Understanding Checks, Promissory Notes, and Bills of Lading" »
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A finding of contributory negligence cannot be established unless the defendant (D) is first proven to be negligent.
Contributory negligence occurs where the harm suffered is partly the fault of D and partly the fault of the claimant (C). Consequently, any award of damages to C may be reduced by reason of C's contributory negligence, though the reduction cannot be 100%.
The claimant disregarded his employer's safety instructions by riding on the back of a haulage vehicle. Another employee negligently crashed into the back of the vehicle, causing... Continue reading "Contributory Negligence and Volenti Non Fit Injuria Defenses" »
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1. Filing the Complaint: The plaintiff must attach all documents intended to support the claim.
2. Preliminary Examination: The court checks if the complaint meets the requirements for a decree of admission. Later, it is sent to the defendant for notification.
3. Service of Process: The defendant is expected to answer the claim within 20 days via a statement of defense or may request a motion on jurisdiction (declinatoria), which suspends the plea until resolved.
The Court will first ask the parties if they wish to reach an agreement.
The dispute between the parties is divided into three steps:
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Deals with civil matters such as:
Most County Court cases are between people and companies who believe that someone owes them money.
Deals with more serious criminal cases (murder, rape, robbery) which are on appeal or referred from the Magistrate's Court.
Trials are heard by a judge and a 12-person jury.
There are 77 Crown Courts across England and Wales.
In... Continue reading "The UK Court System: A Comprehensive Guide" »
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On June 30, 2005, the Spanish Parliament legalized same-sex marriage.
Mr. Astarloa, empowered by seventy-one Members of the People’s Party Parliamentary Group in Congress, appealed for the unconstitutionality of Law 13/2005, which amended the Civil Code regarding the right to marry.
The petitioners did not oppose same-sex marriage itself but challenged the legalization process. They alleged the violation of Articles 9.3, 10.2, 14, 32, 39.1, 39.2, 39.4, 53.1, and 167 of the Spanish Constitution (SC).
They argued that the challenged law contradicted Article 32, which they interpreted as defining marriage exclusively as a heterosexual institution.
Furthermore, they contended that Article 14 SC,... Continue reading "Spanish Same-Sex Marriage Legalization: Constitutional Court Ruling" »
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In negotiation, each party presents their case and proposes their desired outcome. The goal is to reach a mutually agreeable solution. Parties manage their own issues, presenting their case and choosing what information to disclose or conceal during the negotiation process. Sometimes, direct communication between parties is difficult, which leads to other ADR methods.
Mediation is used when parties are willing to reach an agreement but struggle to communicate directly. A neutral third-party mediator facilitates communication, helping the parties reach a resolution. The mediator does not make a ruling but guides the conversation. Mediation is considered successful when... Continue reading "Alternative Dispute Resolution (ADR) Techniques" »