WHEN DOES AN AGREEMENT BECOME A CONTRACT? (1) There must be some consideration for it According to Section-2(d) of the Indian Contract Act‚ 1872 “When‚ at the desire of the promisor‚ the promisee or any other person has done or abstained from doing‚ or does or abstains from doing‚ or promises to do or to abstain from doing‚ something‚ such act or abstinence or promise is called a consideration for the promise.” According to Section-25 “Agreement without consideration‚ void‚ unless it is in writing
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Corporations‚ companies‚ partnerships or persons subject to internal revenue taxes must comply with certain requirements perceived by the code‚ to wit: 1. Registration a. Accomplishment of Application for Registration FOR SELF-EMPLOYED AND MIXED INCOME INDIVIDUALS Tax Form BIR Form 1901- Application for Registration for Self-Employed and Mixed Income Individuals‚ Estates/Trusts Documentary Requirements For single proprietors‚ mixed income earners › Photocopy of Mayor’s Business Permit
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UNIT 5: ACCOUNTING FOR DEBENTURES LEARNING OBJECTIVES I) II) III) IV) V) VI) VII) IX) X) Understand the meaning and features of debentures. Differentiate between shares and debentures. Understand different classes of debentures Journal entries regarding issue of debentures for cash and for consideration other than cash. Accounting treatment of debentures issued as collateral security Accounting treatment of issue and redemption of debentures at par‚ discount and at premium. Understand the methods
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Question TWO What is a "Breach of Contract"? A business contract creates certain obligations that are to be fulfilled by the people or companies who entered into the agreement. In the eyes of the law‚ a party’s failure to fulfil an end of the bargain under a contract is known as a "breach" of the contract. Depending on the specifics of the contract‚ a breach can occur when a party fails to perform on time‚ does not perform in accordance with the terms of the agreement‚ or does not perform at all
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Trading Mechanism in National Stock Exchange 1. Introduction 1.1 Meaning of Trading Mechanism The trading mechanism in the stock exchange is based on a transaction between a buyer‚ seller‚ and a trading specialist who actually executes transactions in a stock exchange. In general‚ the trading mechanism is similar to a simple auction‚ with investors biddng on a particular stock or security. If the bid is accepted by the owner of the security‚ the trading specialist executes the sale. Most major
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Republic Act No. 386 June 18‚ 1949 The Civil Code of the Philippines AN ACT TO ORDAIN AND INSTITUTE THE CIVIL CODE OF THE PHILIPPINES Title IX. - PARTNERSHIP CHAPTER 4 LIMITED PARTNERSHIP (n) Art. 1843. A limited partnership is one formed by two or more persons under the provisions of the following article‚ having as members one or more general partners and one or more limited partners. The limited partners as such shall not be bound by the obligations of the partnership. Art. 1844
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project is always a risky undertaking. It becomes even riskier when a competitor is set to do the same thing and the market is unlikely to sustain two rival products . This may appear to be the ration-ale behind the Boeing Company’s much-publicized cancellation of the development of its "superjumbo‚" a whole new class of aircraft with room for 500 to 1‚000 passengers. "The market isn’t ready yet‚" announced John Hayhurst‚ general manager of Boeing’s "superjumbo" project‚ early last year. According to
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Front Office Operations Adam Fikis Week #6 Reservations * Definition: An agreement reached between a supplier and a traveler or travel agent or a clerical or electronic process whereby a seat‚ a room‚ a berth or other accommodation is withdrawn from sale and set aside for the use of a specific person‚ often on payment of a deposit. Reservations Outcomes * Guest Perspective * Having a guestroom ready and waiting when they arrive * Should not be just any room‚ but
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Case Study – Pre paid Legal Services Q1) How does PPLS create value for its customers? What are the critical risks that it has to manage well? Ans) PPLS creates value for its customers by insuring their future legal costs by charging an advance premium monthly . It sells memberships‚ which allow members to access legal services through a network of independent law firms in each state of USA. It also promotes multi-level marketing by encouraging members to become associates and get commission
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Andy Nunez Mr. Moody Standing Rock 12/6/16 Standing Rock Traditional lands and modern day standards of living have diminished tribal reservations creating conflict between native Indian tribes and industries. The Great Sioux natives have inhabited lands in the U.S for centuries therefore‚ I believe they have the rights to keep their lands reserved and separated from modernization of our country. The Standing Rock reservation has been home to native Indians and has been threaten to be modernized by
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