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Niger traded in cocoa commodities. Lever Bros contracted Bell to act as chairman of the Niger’s board of directors for £8000 a year. They then contracted Snelling to be vice-chairman for £6000 a year. Both Bell and Snelling began secretly speculating on the cocoa market using their own money.
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Mr Bell was the managing director for five years of a company that was owned by Lever Bros Ltd. Mr Bell had traded for personal profit during his employment, which was contrary to his contract with the company. Without knowledge of this, Lever Bros Ltd made an offer of redundancy to Mr Bell, terminating his contract and offering a £30,000 payment a...
The main issue in this case was whether the redundancy contract that was created and accepted by Mr Bell, could be void by common mistake, due to later finding out about his personal trading. Lever Bros Ltd argued that this concealment and misconduct was a breach of his duty that was detailed in his employment contract.
The court held that the contract was not void, as the mistake was not an ‘essential and integral’ part of the contract. The personal trading that had happened during the employment was not related to the subject matter of the contract and was said to be minor compared to the profits Mr Bell had made for Lever Bros Ltd. Only a mistake to the identit...
clause was partially designed to protect a series of trade restrictions that the United States and other countries already had in place at the time the GATT was negotiated.
- Mark Wu
- 2008
This chapter explains the economic case for free trade through the lens of trade theory and argues that even though free trade may not be “optimal,” it is nonetheless the most pragmatic policy option a country can follow.
Dec 14, 2011 · As these authors show, the argument that free trade helps the poor are static (freer trade should help in the reduction of poverty in the poor countries which use their comparative advantages to export labor-intensive goods), and dynamic (trade promotes growth; and growth reduces poverty).
Jan 15, 1998 · Electorally, free trade won persistent endorsement against successive protectionist, fair trade, and tariff reform challenges. Only in 1931, in conditions of national crisis, did the Chamberlainite alternative of tariff reform and imperial preference overturn this deeply rooted political consensus.
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It locates contemporary trade agreements within a larger story about the relation between the state, the market, and the social; explores why it is useful to place current trade agreements within a longer historical trajectory; offers a brief narrative of how the concept of free trade has moved across a two-hundred-year period since the late ...
