Ownership has been described as ” the entirely of the powers of use and disposal allowed by law” . The owner of a thing has an aggregate of rights, namely (i) the right of enjoyment, (ii) the right of destruction, and (iii) the right of disposition , subject to the right of others. Thus if A owns a hat he or she can wear it, alter it, burn it, or merely throw it away. There are, however, limits to these rights. If A throws the hat at B, this might be an assault on B(or a battery if the hat strikes B) , for under the general law B has a right not to be interfered eith. Similarly in regard to land, A may enjoy and use it , sell it or give it away ; but-use of this land is subject to the rights of others as allowed by law, e.g. in nuisance and tort. Today a landowner’s rights are much circumscribed by legislation aimed at social control, e.g. the Town and Country Planning Act, . Permission for any change in the use of the land owned has to be obtained from the local planning authorities may compulsorily acquire privately owned land and use it for public purposes, e.g. as site for a school or college. A person may own land notwithstanding that another has an easement , such as a right of way , over it. In course of time the idea of ownership grew with an advancing industrial and capitalistic economy. The right of possession changed into the right of ownership which we know we know today.
Ownership may be acquired in the following ways. Ownership may be thus obtained by (i) creating something, e.g. a clay jar or a picture ; (ii) occupation, where a person claims something not owned by anyone, e.g. a wild bird or animal , or by occupation of property abandoned by another ; or (iii) accession e.g. if A owns an animal which begets young, the young animal become the property of A bye accession
a)The law of use b)The law of property c)The entirety of powers d)The entirety of disposal
۲٫What does ” aggregate ” in line 2 refer to?
a)An entirety b)An individuality c)Made up of sevral amounts d)Addes together as a total amounts
a)Strikes a battery b)Strikes, an assault c)Throws the hat at, battery d)Throws the battery at, an assault
a)But b)However c)So far as d)In spite of the fact that
a)Yielding b)Producing something
c)Talking up something abandoned d)Threatening or violent behavior
Contract theory is the body of legal theory that addresses normative and conceptional questions in contract law.
One of the most important quastions asked in contract theory is why contracts are enForced?
One Prominent answer to this question Focuses on the economic benefits of enForcing bargains.
Also contract law concerns enforceable Promises and canbe Summed up in the latin Phrase:” Pacta Sunt Servanda”
The lawof contract is the most important part of commercial law because every commercial transaction starts From agreement between two or more Persons.
Misre Peresentation is made by one Party to another Party and has the effect of inducing that Party into the contract.
For example under certain circumstance False Statements or Promises made by a seller of good regarding the quality of nature of the Product may constitute misreperesntation.
A finding of misrepresentation allows for remedy of rescission and damages , and in some types the injured party is entiteled to only rescission.
a)The remedy For misre Presentation is only damages.
b)The remedy For misrepresentation is rescission.
c)The remedy For misrepresentation may be rescission and damages.
A sum of money awarded by a court as compensation for a tort or breach of contract. Substantial damages are given when actual damages has been caused but nominal damages may be given for breach of contract in which no damage has been caused.
۱۶٫”A sum of money” in line refers to:
۱۷٫When no actual damage has been caused it is ………. Damages.
Students of contract learn that in order to form a simple contract, the parties must be in agreement and that agreement constituted by offer and acceptance.
An offer is the offeror’s promise, and acceptance is the assent of offeree to the terms. Therefore, if the offeree rejects the offeror’s term no agreement will arise.
۱۹٫Which is the best synonym for “agreement” ?
a)by word or in writing
b)by word or inFerred From the offeree’s conduct
c)expressed (by word of mouth or writing) or inFerresd From the offeree’s
d)in writnig or inFerred
a)the intention expressed is legal b)the intention expressed is legal and bona Fide
c)there is no reason For avoiding the choice d)none of them
a)mercantile contracts b)Prophecy c)bank ruptcy d)civil law
a)any written do document b)a covention c)any written law d)an order issued by a court
a)conclusive b)direct c)hearsay d)Prima – Facie
An indication of Willingness to do or refrain From doing some thing that is capable of being coverted acceptance into a legally binding contract.