Legal Revision Questions: Contracts, Duties, and Notes

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Explore complex legal scenarios involving contract formation, product liability, fiduciary duties of directors, and key legal concepts such as subrogation in insurance contracts, creation of agency by estoppel, and promissory notes. Analyze cases involving offers, acceptances, and lapses, as well as the responsibilities of company directors under the relevant Companies Act. Delve into legal principles and case studies to enhance your understanding of fundamental legal concepts.

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REVISION QUESTIONS ShanilaH. Gunawardena LL.B. (Hons.) (Colombo) Attorney-at-Law, CTA (CASL)

Question 1 On Monday, 4thSeptember 2017, YaleComputers made anoffer to ABCSoftware Limited tosell 3 laptops for a price of Rs. 150,000/- each. The offer was made by Yale Computers to ABC Software Limited via e-mail which was sent at 8.30am on Monday. The e-mail clearly stated the brands of and allthe specifications relating to the 3laptops. The aforesaidoffer alsostated asfollows: Please sendyour acceptance viae-mailbefore12noon tomorrow, 5thSeptember 2017. The aforesaid offer was received by the mailbox of ABC Software Limited at 8.35am on Monday. ABC Software Limited saw the e-mail at 9.30am and immediately reported to the relevant departments for necessary action. After discussion, ABC Software Limited decided to accept the offer. Consequently, ABC Software Limited sent its acceptance at 11.45am on Tuesday, 5thSeptember 2017, via e-mail. However, Yale Computers had experienced a network failure from around 11.30am to 1.30pm on Tuesday, which Yale Computers only realised at about 12.45pm. Therefore, the acceptance letter sent by ABC Software Limited was only seen by Yale Computers at 1.35pm. However, the e-mail indicated that the offer was received by the mailbox of Yale Computers at 11.50am. Meanwhile, not having received ABC Software Limited s acceptance by 12noon, Yale Computers made another offer, via telephone, at 12.30pm on Tuesday to Mr. David to sell the same 3 laptops for aprice of Rs.150,000/- each. Mr.Davidaccepted thisoffer immediately. Discuss whether there was a binding contract between Yale Computers and ABC Software Limited, and/or betweenYaleComputers andMr.David.

Question 2 ABC Dairies is located in Bandarawela and is in the business of producing dairy products including, fresh milk and yoghurt. Wimal lives with his wife and his 6 year old son in Bandarawelaclose to ABC Dairies and is a regular customer of ABC Dairies. Therefore, the owner and the employees of ABC Dairies are aware of Wimal s family and the fact that Wimal s son usually eats one cup of yoghurt per day. As per Wimal s usual routine, on his way home after work on Monday, Wimal purchased 2 bottles of fresh milk and 1 cup of yoghurt from ABC Dairies for a total price of Rs. 250/-. Prior to the purchase, Wimal checked the expiry dates indicated in all 3 products and it was confirmed that the expiry date had not passed. Wimal s son consumed the yoghurt soon after that evening and after a few hours the son fell sick. The son had to be hospitalized immediately. The medical reports showed that the illness was due to a germ, which was present in the yoghurt. Advise Wimal.

Question 3 The fiduciary duty of directors is a mandatory element of company law and is owed by directors to the company individually. Discuss in relation to the provisions in the Companies Act, No.7 of 2007 (as amended) relating to the duties ofdirectors.