Mr.Khamis was a leading business man in Oman. He was killed in an accident on 30th August 2015. Abdallah is his only child. In the aforesaid scenario what would be the implications of the case if his son Abdallah who was born on 2nd April 1998 and sold this house on 15th September 2015. He was the only heir to his father. O a. llegal O b. Voidable O c Valid O d. Void
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- Farah owned an antique store that specialize in rare porcelain bowl. When she opened the business in 2010, it was at a shop in Perlis. In 2015 she started to advertise on the Internet and by 2017 the business had grown to the point where she needed help to keep the business going. After a family discussion one night at the kitchen table in Mei 2017, it was agreed that Farah would probably keep the business going for another couple of years and then retire. Kasim, her youngest son and aged 20, would work in the shop as long as was needed and in return, he would receive any unsold bowl. When Farah retired at the end of 2020, she decided that she would give the unsold stock to charity and they could auction it and keep the proceeds. Find the: Issues of the case Issues Discussion with evidence Advise SuggestionFarah owned an antique store that specialize in rare porcelain bowl. When she opened the business in 2010, it was at a shop in Perlis. In 2015 she started to advertise on the Internet and by 2017 the business had grown to the point where she needed help to keep the business going. After a family discussion one night at the kitchen table in Mei 2017, it was agreed that Farah would probably keep the business going for another couple of years and then retire. Kasim, her youngest son and aged 20, would work in the shop as long as was needed and in return, he would receive any unsold bowl. When Farah retired at the end of 2020, she decided that she would give the unsold stock to charity and they could auction it and keep the proceeds. solve this with the IRAC methodImagine Ali, an Omani citizen, and Sara, a Canadian Citizen, decide to start a Limited Liability Company (LLC) together . Describe in detail the steps to be taken by Ali and Sara to establish an LLC . Is there any limitations for Sara (as a non-Omani investor) to start a business in Oman? *
- Sue and John are married. They have four children: Mia, Frank, Beth, and Kate Frank has a child, Karen. Kate has two children Jason and Jeff Sue dies first, leaving everything to John, John dies and leaves everything in equal shares to his children per capita by the generation. Unfortunately, at the time John died, Frank and Kate were deceased. What is the fractional interest to each person in the wil?Calculate the percentage of ownership that Edwina Scissor holds in Sheffield Scissor Sisters Plc (see Figure 1.6). Assuming that Edwina Scissor has effective control of each of the firms in the ownership pyramid, including Sheffield Scissor Sisters Plc, what would be the percentage of shares that Edwina Scissor holds in Scissor Sisters Assets Ltd that would just about not make it worthwhile for her to steal from Sheffield Scissor Sisters Plc?1. What is the difference between executed and executory consideration? 2. State any two courts in Ghana which are known as lower courts? 3.State one disadvantage of litigation. Explain the concept of remoteness of damages. What is arbitration? What is the difference between void and voidable contracts? What is the legal distinction between duress and undue influence as vitiating factors? Communicating of an offer must be made to a particular individual, groups etc. What happens if the communication is made to an individual that the offeror does not in tend to contract with? Where the contract is made to a specified person but is accepted by another person? Where an offer is communicated to a class or group of persons. Where an offer is communicated to the general public or the whole world. What is supervisory jurisdiction Exclusive jurisdiction Appellate jurisdiction Original jurisdiction? What are the brief facts and legal principles espoused in the following cases:…
- DQ2: Chapters 5 and 11: Unfortunately, you and Max make better friends than business partners. While Smaxy Maxy’s is roughly breaking even, there is constant conflict between the two of you. You and Max had established a partnership, and both of you recognize that the partnership must be dissolved, leaving a sole proprietor. There is no simple solution because both of you have fallen in love with Smaxy Maxy’s. You wisely consult a lawyer. She suggests a lawsuit to force the partnership dissolution. You wonder if there might be alternatives to litigation. What might those be with this fact scenario? Explain. DQ3: Chapter 14.3: You own Sam’s Sea Food and are in fierce competition with Frank’s Fish House, the businesses just a few blocks apart. Both sell a variety of fresh seafood. Frank decides on a new promotion. He advertises heavily, “one pound of fresh, wild Alaska, salmon, $8.99, first come, and first served.” However, Frank has only two of these items in the store. Is this…Arnold, age 75, established an irrevocable trust to benefit his grandson, Randolph. Randolph will receive trust income annually until he reaches the age of 30. The trust will then terminate and all the principal of the trust will be distributed to Ashley, Arnold's 30 year old wife. Which of the following statement(s) is/are correct regarding Generation Skipping Transfer Tax (GSTT)? 1. If Randolph's father (Arnold's son) is deceased at the time the irrevocable trust is established, then Randolph is a nonskip person. II. If Ashley is not the spouse of Arnold when the trust terminates, then she is a skip person. A. I only. B. Il only. C. Both I and II. D. None of the above.What it is talking about? 1. Incorporation of a company Ø Minimum number of shareholders and directorsEvery company requires at least one member, a director and a company secretary. Have at least one director who is a natural person (s457) Ø Effects of incorporation The company is capable of exercising all the functions of an incorporated company (e.g. separate legal entity, artificial person like entering into contracts in its own name, or taking legal action against other), and has perpetual succession. On and after the date of incorporation, the founder members, and any other persons who may from time to time become the company’s members, are liable to contribute to the assets of the company in the event of the company being wound up as is mentioned in Cap. 32.èLimited Liabilities
- Please explain why a settlor would choose to create a Discretionary Trust over an Absolute Trust. Adam and Liz are married and they have two children: Robert, age 32, and Clare, age 28, that are financially independent. Robert is married and has one child and Clare is going to get married. Both Robert and Clare are planning to have more children. Adam's and Liz's total estate compromises of: Joint owned property: Adams's ISA: Liz's ISA: Adam's pension: Liz's pension: Cash savings (joint account): Adam's VCTS: Joined owned Buy to Let property: £1,500,000 £350,000 £200,000 £870,000 £650,000 £230,000 £150,000 £350,000 They also have the two following mortgages: Mortgage on residential property: £130,000 Buy To Let mortgage: £80,000BUSINESS IN UK Edward Waters was employed by a national stationers but was made redundant in January 2005. He spent months searching for another job, but eventually gave up and decided to set up his own business. He had always been a film buff and opened up a DUD rental shop in Cardiff. In a room above the shop he opened up a Mall café. He used £6,000 of his own savings anti a £2,000 bank loan to meet the set up costs. He also qualified for £40 per week from the government's Enterprise Allowance Scheme. Edward employed two part firm students to help out in the café on weekends anti school holidays. After a slow star business picked up al d his cafe gained popularity with students from local colleges. He spotted at opportunity aid lowered prices slightly to encourage even more students to After one year he extended his bank loan to £3,000 anti bought some more kitchen equipment to provide substantial lunch time meals. Again he kept prices low and targeted the student market. The…If a will does not provide how an estate will be distributed to grandchildren, under the per capita method of distribution, an heir takes the share that his or her deceased parent would have been entitled to inherit. True or False?