Intangible assets are amortized. 6) Liquid Assets: Liquid assets are those assets which are with us in cash or easily converted into cash. 7) Long term Assets : Any asset that a company or individual holds that will generate revenue for more than one year is considered a long term asset. Long term assets are the assets that a company holds of value that are expected to last in spite of any depreciation. These assets are defined as the value of a company’s equipment‚ property and any other assets that they
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[pic] From the May 2008 issue To Prevent Wildfires‚ Avoid Open Burning Due to retreating snows and the onset of warm‚ dry weather‚ people should avoid burning brush and other debris during early spring conditions. Every spring‚ firefighters respond to hundreds of wildfires caused by open burning. In fact‚ brush and debris burning is the second most common preventable cause of wildfires. A lack of green vegetation‚ lots of dead vegetation‚ warm temperatures‚ sun and winds all allow wildfires
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The Elements of Criminal Liability ACTUS REUS & MENS REA "Actus non facit reum nisi mens sit rea"‚ or "an act does not make a man guilty unless his mind be also guilty (Burgess‚ 2004‚ p.8)." In criminal law‚ for an individual to commit a crime‚ there must be present two elements. They are: Actus Reus (meaning guilty act or omission); and Mens Rea (meaning guilty mind). Actus Reus is the guilty act or omission in the commissioning of a crime. In short‚ it is what the offender does
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Mount Kenya University Nairobi Campus Department of Law Bachelor of Law Law of Tort II Professor Manyasi (Lecturer) Adm./113/01151 Question: What is the relationship between easement and the law of tort? Discuss. An easement is an interest in land which is created by express agreement‚ prior use‚ or necessity that permits one person to make use of another’s estate. An affirmative easement gives one person the right to use another’s land; a negative easement prevents the
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Limitations in Establishing Corporate Criminal Liability The identification doctrine is the traditional method by which companies are held liable under the principles of the common law. According to this theory‚ the solution for the problem of attributing the unlawful acts to a corporation for offences that require intention was to merge the identified individual with the corporation. For the purpose of establishing corporate liability‚ a company may be responsible for the wrongful acts of living
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Worksheet 1 EMPLOYMENT TORTS Employer’s Liability 1. Introduction The basis of the liability of an employer for negligence in respect of injury suffered by his employee during the course of the employee’s work is twofold: 1. He may be liable for breach of the personal duty of care which he owes to each employee; 2. He may be vicariously liable for breach by one employee of the duty of care which that employee owes to his fellow employees. The action against the employer for
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Limited Liability Personal Definition: In the event a liability arises‚ limited liability prohibits the available assets to only the business entity itself. Essentially‚ the investor cannot lose more than he or she puts in. This protects the individuals working for the entity on a personal level. Nobody can attack his or her personal assets‚ unless the individual exhibits some form of activity that qualifies for piercing the corporate veil. Investopedia Definition: A type of liability that does
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STUDY ON ASSET LIABILITY MANAGEMENT IN BANKS ABSTRACT: In banking‚ ASSET AND LIABILITY MANAGEMENT (often abbreviated ALM) is the practice of managing risks that arise due to mismatches between the assets and liabilities (debts and assets) of the bank. This can also be seen in insurance. Asset liability management (ALM) is a strategic management tool to manage interest rate risk and liquidity risk faced by banks‚ other financial services companies and corporations. Asset-liability management basically
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consists of actions‚ but can also consist of omissions when there is some duty to act (e.g.‚ a duty to help victims of one’s previous conduct). OVERVIEW Primary factors to consider in ascertaining whether the person’s conduct lacks reasonable care are the foreseeable likelihood that the person’s conduct will result in harm‚ the foreseeable severity of harm that may ensue‚ and the burden of precautions to eliminate or reduce the risk of harm. See Restatement (Third) of Torts: Liability for Physical
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decided a number of cases dealing with liability for injuries that occurred on the property of the defendant involving two different parties. On the basis of the premise liability claim‚ our client has a case against the hotel. The premise liability claim is based on common law principles of negligence and derives from an establishment’s lack of supervision‚ care‚ or control of the premises. RESTATMENT (SECOND) OF TORTS §344 (1965). According to the premise liability claim‚ a tavern owner has a duty to
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