Contingent liabilities are possible future liabilities that will only become certain on the occurrence of some future events. A contingent liability is less certain than a provision‚ the latter is expected to recognize; however‚ a contingent liability might occur. An entity shall not recognize a contingent liability; nevertheless‚ the company should disclose it‚ as required by paragraph 86‚ unless the possibility of an outflow of resources embodying economic benefits is remote. Where an entity
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Tort reform is a very controversial issue; it is difficult to understand as the opinions are tossed around opposing sides. From the plaintiff’s perspective‚ tort reforms serves to benefit many of the major companies including insurance companies and doctor’s offices and/or hospital. From the defendant’s perspective‚ tort reform serves to harm the big companies as defense form extremely large punitive damage awards. The current is that there is a growing concern among some that there are overconsumptions
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Tort Law Generally Standard of Care * (SoC) -Harm is required for a tort & is about vindicating individual rights & redressing private harms Motion to Dismiss/Demurrer: Filed by ∆‚ says to the judge that even if all the facts are taken as true‚ there’s no case Motion for Sum Judg: Usually motion by ∆‚ submit mostly after new facts arise from disco; filed w/ notion that facts are undisputed & that legal rules applied to facts would find for moving party (judge only) Object to Evidence & Offer
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termination/phase-out. NLRC held Naguiat and the company solidarily liable for the payment of sep. pay. ISSUE: WON Naguait should be held solidarily liable with CFTI. YES. HELD: Under the Corporation Code‚ Naguait is liable bec: (1) he actively managed the business; (2) there was evidence that CFTI obtained reasonably adequate insurance; and (3) there was a corporate tort in this case. Our jurisprudence is wanting to the definite scope of “corporate tort.” Essentially‚ “tort” consists in the violation of a
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INTRODUCTION Determining whether Mr. Fullman has an actionable claim under the Alien Tort Statute (“ATS”) and whether the Fourteenth Circuit has jurisdiction over this matter can be determined by the same answer. If Lansdale can be held liable under the ATS‚ the Fourteenth Circuit has jurisdiction. If suit is barred against Lansdale‚ due to his status as a corporation‚ the Fourteenth Circuit lacks subject-matter jurisdiction and‚ thus‚ the case must be dismissed. The Supreme Court has not determined
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TORT TUTORIAL 7 * Differences between libel and slander. Is the distinction of practical significance? Defamation protects an individuals reputation. Slander refers to a malicious‚ false‚ and defamatory spoken statement or report (non- permanent)‚ while libel refers to any other form of communication such as written words or images.(permanent) The fundamental distinction between libel and slander lies solely in the form in which the defamatory matter is published. If the offending material
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Sovereign Immunity 1. Journey of the Doctrine 1.1Pre Constitutional Era 1.2 Post Independence and Constitution of India IX. Sovereign Functions & Non-Sovereign Function X. Critically Analysis of the case 1. Vicarious liability 2. Negligence 3. Violation of Right to Property 4. Misappropriation 5. Case Reference XI. Conclusion…………………………………………………………………………..…….. XII. Bibliography……………………………………………………………………..….……. Introduction “Law is the great
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two principles of criminal liability which have to be relied upon in order to determine the guilt or innocence of the accused person. Therefore the aim of this essay is to discuss the two principles of law for criminal liability with reference to the Penal Code Act‚ Chapter Eighty Seven (87) of the Laws of Zambia and Zambian decided cases. In order to effectively do this‚ the essay will begin by generally talking about the two principles of law for criminal liability which are the “Actus reus”
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Traditional Litigation Paper Sandya Kuttappa LAW/531 Business Law 26th March 2012 Instructor: Dr. Linda Fried Introduction Laws have been the crux of every society. Even during primordial times laws were being created and designed to ensure that the existing society had a semblance of order and cognition amongst its people. New rulers and governments invented their own system that was prevalent to that day. The aim of this paper is to contrast the Traditional Litigation System
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1 Public Interest Litigation is a good thing when it is used to enforce the rights of the disadvantaged. But it has now been diluted to interfere with the power of the government to take decisions on a range of policy matters Judicial activism is not an easy concept to define. It means different things to different persons. Critics denounce judicial decisions as activist when they do not agree with them. Activism‚ like beauty‚ is often in the eye of the beholder. In India‚ the opening up of access
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