| Lessee Ltd.- Lease Case | | | | | | 1. Was the junior accountant’s analysis correct? Why or why not? No‚ the junior accountant’s analysis is not correct in classifying the lease as an operating lease in accordance with IFRS. Whether or not a lease is classified as a finance or an operating lease depends on if all of the benefits as well as risks of ownership have been shifted from the lessor to the lessee. According to IAS 17-10(d)‚ a lease must be classified as a finance
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1) A contract is an agreement made between two or more parties which are recognised by Law. There have been many scenarios such as the rejection of offer‚ leaving a voicemail to accept the offer‚ letter been posted on the same day and also a note through the door stating that offer has been accepted by David. First of all‚ in our case Arthur decides to sell his car putting a notice in his rear window of the car door. This action represents an offer not an invitation to treat. An offer is when one
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greater sum‚ cant reclaim full payment refer to D & C Builders Ltd v Rees Estoppel Generally: * Different forms of estoppel: common law estoppel‚ estoppel in pais‚ estoppel by representation estoppel by convention…promissory estoppel‚ proprietary estoppel and equitable estoppel. * Above differences in estoppel not important today - grouped together as a reference to unconscionability. main differences = common law estoppels (based on representations of facts) and equitable (relying
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Subject Business Law Subject Number BBC131 Trainer Mr Tony Antoniou Due Date 7th Oct 2012 Chapter 1 LEGAL FOUNDATIONS Tutorial Questions 1 Why did common law become so rigid and flexible? The social behaviour of surroundings where society
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3. 4. 5. Introduction The general principles of liability for negligence Product liability Liability for negligent misstatement Vicarious liability THE LAW OF TORT (民事侵權法) 1. What is Tort? One party suffers damage or loss as the result of the action of another No need for a contractual relationship The law of tort regulates the behaviour of individuals and legal persons 2 1. Introduction Tort: “Wrong” (a civil wrong) Three main types: • Intentional torts (Beating
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’Moore’s Law’ An observation made by Intel co-founder Gordon Moore in 1965. He noticed that the number of transistors per square inch on integrated circuits had doubled every year since their invention. Moore’s law predicts that this trend[->0] will continue into the foreseeable future. Although the pace has slowed‚ the number of transistors per square inch has since doubled approximately every 18 months. This is used as the current definition of Moore’s law. History The term "Moore’s law" was
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1.0 Background of the Study Bangladesh Commerce Bank Ltd (BCBL) was formed following the National Parliament Act no. 12‚ 1997. An eleven member Board of Directors was constituted by the Government to steer the new banking organization of the country. The capital market of Bangladesh has yet to find a solid ground and the investor confidence in the market is not significantly high‚ especially after the stock market crash in 1996.The bank started its commercial activities on 16 Sep‚ 1999 with the
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Discuss the relationship between law and morals and whether law should uphold moral values? Phil Harris in an introduction to law defines a society’s ‘code of morality’ as a set of beliefs‚ values‚ principles and a standard of behaviour. A compliance with these rules is not compulsory and not required by the state. People are influenced by their family‚ friend’s religion. However‚ they could consider from themselves what they believe to be moral or immoral in their view‚ because a society is pluralistic
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Business Description Toromont Industries Ltd. was founded in 1961 by eight private investors in Canada. The company’s stock was listed on the Toronto Stock Exchange in 1968. Toromont Industries Ltd. owns and operates through two business segments which are: The Equipment Group and CIMCO Refrigeration. The Equipment Group serves an estimated $5 billion markets and owns one of the world’s largest CAT dealerships in terms of revenue and geographic territory‚ which comprises of 36 branches in Canada
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Law and morality Both law and Morals are well respected as they both often state what should be done in a situation or what a person should and should not do. Laws are often created with morals in mind e:g Abortion Embryo research Capital punishment However during history‚ there have been some areas of law that have clashed with morals Tort law – Donoghue v Stevenson (1932) Lord Aitken ‘Do not harm your neighbour’ The bible is the main source for moral thinking There are some things however that
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