Accounting Theory and Practice: the Ethical Dimension M. Gaffikin University of Wollongong‚ michael gaffikin@uow.edu.au This working paper was originally published as Gaffikin‚ M‚ Accounting theory and practice: the ethical dimension‚ Accounting Finance Working Paper 07/04‚ School of Accounting Finance‚ University of Wollongong‚ 2007. This paper is posted at Research Online. http://ro.uow.edu.au/accfinwp/2 07/04 University of Wollongong School of Accounting & Finance Accounting Theory and Practice:
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there are requirements to form a valid contract other than offer and acceptance‚ that are‚ intention to create legal relation and consideration. What is consideration? It can be describe as being something which represent either some benefit to the person making a promise or some detriment to the person to whom the promise is made. The term consideration is given to the subject that is exchanged in a contract.1 It is a fundamental prerequisite in English contract law. 2 The courts has explained the
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1.0 Contracts and its Elements 1.1 Essentials of a Contract Contracts form part of our daily life e.g. lease of house‚ sale/purchase of cars‚ etc. However‚ there are elements essential to form a contract. These are: 1.1.1 Offer/Invitation MacMillan & Stone (2004) described offer as “an expression of willingness to contract on certain terms. It must be made with the intention that it will become binding upon acceptance. There must be no further negotiations or discussions required.” This can be
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Contract Law Notes Contracts ‘A’ Offer Bilateral contracts Unilateral contracts Offers to the public at large What is an offer? Mere puff Supply of information Invitation to treat Categorizing transactions Advertisements a) Advertisements in a catalogue or a curricular b) Advertisements in newspapers or magazines c) Advertisements appearing on the internet d) Display of goods Auctions a) Advertisement of auction b) Auctions with reserves c) Auctions without a reserve Tendering
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1. Shipment or delivery The obligation of Seller to ship or deliver the goods specified on the face of this Contract (“Goods”) by the time or within the period specified on the face of this Contract shall be subject to the availability of the vessel or the vessel’s space. If‚ under the terms of this Contract‚ Buyer is to secure or arrange for the vessel or vessel’s space‚ Buyer shall secure or arrange for the necessary vessel or vessel’s space on berth terms basis and give Seller shipping
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PAPER – CONTRACT 1 Define contract. Explain the essentials of valid contract. A voluntary‚ deliberate‚ and legally binding agreement between two or more competent parties. Contracts are usually written but may be spoken or implied‚ and generally have to do with employment‚ sale or lease‚ or tenancy. 1. Essentials of a valid contract All agreements are not contracts. Only that agreements which is enforceable at law is a contract. An agreement which is enforceable at law cannot be contract. Thus
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concept of freedom to contract is a complex theory: is this a myth or reality?” To begin with‚ let us consider what contract theory is and what it holds. Contract theory is the study of how individuals and businesses construct and develop legal agreements; analysing how they make decisions under uncertain conditions‚ and when there is unequal information (Investopedia‚ n.d.). It is fundamental to know this along with what a contract is‚ to understand what freedom to contract is. For how illogical
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of the MAOA gene are much more prevalent in populations with a history of warfare. These individuals are also more likely to join gangs and to use weapons in committing crimes than other persons” (Hickey 48). Beaver and Schwartz believe that the theories proposed over the past half-century have focused entirely on environmental explanations of criminal and antisocial behavior. The explanation of criminal and antisocial behavior is their biggest concern of all the literature available. According to
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distinguished from offers because they contain no demonstration of present intent to form contractual relations. No contract is formed when prospective purchasers respond to such terms‚ as they are merely invitations or requests for an offer. Unless this interpretation is employed‚ any person in a position similar to a seller who advertises goods in any medium would be liable for numerous contracts when there is usually a limited quantity of merchandise for sale. An advertisement‚ price quotation‚ or catalogue
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race-based critical theory‚ there will be a discussion on how inequalities continue to manifest within the medical health of citizens. Government agencies such as the Centers for Disease Control and the National Cancer Institute have long noted distinct‚ statistical difference between medical race data. This has‚ in turn‚ led to many researchers and sociologists to collect more data and developing theories for the disparities. Theoretical Framework The concept of race-based critical theory stems
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