♥ ILOVEYOU ♥ Oria Vs McMicking Source: www.lawphil.net Art. 1387. All contracts by virtue of which the debtor alienates property by gratuitous title are presumed to have been entered into in fraud of creditors‚ when the donor did not reserve sufficient property to pay all debts contracted before the donation. FACTS Gutierrez Hermanos filed an action for recovery of a sum of money against Oria Hermanos & Co. and herein plaintiff filed an action for recovery also for the same defendant
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Did Amy bound by her promise? In Amy’s case‚ have no doubt‚ Amy is the offeror who provides an offer to Beryl and her family who have accepted it by receive Amy’s money or others. However‚ 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
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Advance Financial Accounting (FIN-611) VU LESSON # 1 ACCOUNTING FOR INCOMPLETE RECORDS 1. Introduction This topic is also known as Single Entry System of Accounting. In this chapter we will learn how an accountant prepares financial statements of those organizations which are not keeping up proper double entry book keeping system of accounting. From accounting system stand point‚ business organizations can be classified into three broad categories: 1.1 Small scale business entities These consist
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FINANCIAL STATEMENT ANALYSIS OF CIPLA ( 2010-2014) Cipla is one of the oldest pharmaceutical companies in India‚ incorporated in 1935. Cipla pioneered bulk production of generic drugs and export to many countries. Cipla research and development had breakthrough in slashing prices of critical generic drugs for treating HIV and Cancer patients. We’ve picked the financial statements of year 2009-10‚ 2010-11‚ 2011-12‚ 2012-13‚ and 2013-14 for comparative analysis. Condensed Balance Sheet: Common
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LOVELY PROFESSIONAL UNIVERSITY DEPARTMENT OF MANAGEMENT Report on Summer Training [Title] Ratio Analysis to know the Financial Position of “The Nawanshahar Central Co-operative Bank Limited” Submitted to Lovely Professional University In partial fulfillment of the Requirements for the award of Degree of Bachelor of Business Administration (BBA) Submitted by: Name of the student- Mandeep Kaur Dhamrait University Roll No.- R1813A26 DEPARTMENT OF MANAGEMENT LOVELY PROFESSIONAL UNIVERSITY
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Syndicate 2003 Page 2 Mark Scheme A AND AS LEVEL – JUNE 2003 Syllabus 9706 Paper 2 (b) Balance Sheet as at 30 September 2002 Fixed assets less depreciation 280 (1) 35 (1) (OF from Trading P & L) 245 Current assets Stock Debtors - provision Cash Current liabilities Creditors Accruals Bank 704 (1) 420 21 399 8 510 103 258 1111 (1) 871 240 485 25 377 Share capital Retained
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be used in this ratio. To obtain the actual net profit ratio‚ net profit ratio and working capital then the entire group should be considered. The author was not able to use the Debtors collection period and Creditors collection period because JKH being a holdings company does not have any purchases. Also all its debtors are its subsidiaries and cannot be used to calculated the collection period. Table of Contents Introduction1 About the company2 Models / Content2 Research4 Return on Investment5
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and appreciation of insolvency law to identify the principles on which the law is granted and the principles which it seeks to achieve. According to Professors Baird and Jackson‚ ‘insolvency law has only one function: to maximise the returns to creditors and it is not a function of insolvency law to concern itself with employment protection or the interests of the wider community.’ To take it into consideration‚ it is important to say that ‘pari passu’ principle is the ‘foremost principle in
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impairment. If a note receivable is impaired‚ the loss is measured by the creditor as the difference between the investment in the loan (usually the principal plus accrued interest) and the expected future cash flows discounted at the loan’s historical effective interest rate. US GAAP recognizes the uncollectible amount through an allowance account. Unlike IFRS‚ US GAAP prohibits the reversal of impairment losses. In the U.S.‚ creditors sometimes work with customers and change the terms of the original
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the legal title of the property at the time of the financing. In Musharakah‚ the borrower does not repay any interest to the lender‚ but in turn shares the profit on a predetermined ratio in the joint partnership. However‚ unlike a traditional creditor‚ the losses would also be shared in this partnership. As such‚ the financier pays heavy focus on the viability of the project rather than the interest rate of the loan that he is issuing out. Mudaraba is a kind of partnership where one partner
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