Misrepresentation Misrepresentation is a concept in contract law referring to a false statement of fact made by one party to another party‚ which has the effect of inducing that party into the contract. For example‚ under certain circumstances‚ false statements or promises made by a seller of goods regarding the quality or nature of the product that the seller has may constitute misrepresentation. A finding of misrepresentation allows for a remedy of rescission and sometimes damages depending on
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Definition of bankers Commercial definition vs legal definition. Bills of Exchange Ordinance (Cap. 19) (BEO) S.2: • “banker" includes a body of persons‚ whether incorporated or not‚ who carry on the business of banking. BO s.2: • "banking business" means the business of either or both of the following- (a) receiving from the general public money on current‚ deposit‚ savings or other similar account repayable on demand or within less than the period specified in item 1 of the 1st Schedule
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Peter James and Jenny Shorter are in business together designing and producing ladies hand-made clothing to order. They are based in Chelsea and trade under the name of J & S Fashions. They have not drawn up or signed any documents to form the business‚ or registered it with anyone. J & S Fashions has recently set up its own web page on the Internet‚ intending to gain customers that way and to expand. It has been suggested to Peter‚ by a friend in a pub‚ that it would make "sound business sense"
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2. Compare the responsibilities of internal auditor and external auditor in relation to: I. The design and operations of systems and controls Internal auditor | External auditor | Internal auditing activity is primarily directed at improving internal control. Internal auditors perform audits to evaluate whether the systems and processes are designed and operated effectively as well as providing recommendations for improvement. | External auditors may be called upon to determine if an organization
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appellate ruling was the correct decision. The verdict in the California state court asserted that Cartazzo had the same duty of trust to Horrike as a buyer just as much as his employer Coldwell Banker. It further argued that even if he did not have the fiduciary duty to the buyer‚ he would still be at fault for the false representation in the listing and sales
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Providian Trust: Tradition and Technology Business Context Providian Trust provided financial and fiduciary services through 216 branches Headquartered in New York with a staff of 840 full-time employees. Managed $49.4 billion assets through three divisions - Pension and Institutional Trust Services‚ Personal Trust Services‚ and Trust Operations. Only Personal Trust Services division was profitable with $6.7 billion of assets. Key Business Drivers Due to significant competitive situation
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RJR Nabisco Valuation When assessing the valuation of RJR Nabisco bids‚ the Special committee should utilize the Capital Cash Flow method. The Capital Cash Flow method‚ when applied appropriately‚ should yield the same valuation when discounting a company’s Free Cash Flow. To get Capital Cash Flows (CCF)‚ Net Income is adjusted by adding back non-cash expenses and other reconciliations to form cash flow‚ decreasing Capital Expenditures‚ decreasing changes in Net Working Capital and finally‚ adding
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THE CAUSES OF THE ECONOMIC CRISIS AND OTHER ESSAYS BEFORE AND AFTER THE GREAT DEPRESSION LUDWIG VON MISES The Ludwig von Mises Institute dedicates this volume to all of its generous donors and wishes to thank these Patrons‚ in particular: Reed W. Mower ~ Hugh E. Ledbetter; MAN Financial Australia; Roger Milliken; E.H. Morse ~ Andreas Acavalos; Toby O. Baxendale; Michael Belkin; Richard B. Bleiberg; John Hamilton Bolstad; Mr. and Mrs. J.R. Bost; Mary E. Braum; Kerry E. Cutter;
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Shannon Allen Agency Relationships The relationship established between two parties for lawful purposes‚ in which one party‚ named the principal‚ requests the other party or agent to represent him is called Agency. Agency relationships create fiduciary duties between the principal and the agent (Kubasek et al.‚ 2012). In this paper‚ Team B will discuss the different types of Agency and the legal consideration surrounding each of them. Expressed Agency Expressed Agency is known as an agency by agreement;
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BT20403/Company Law Business Entities: Company Law Topics covered: Types of Company Formation of a company; • Promoters Pre-Incorporation Contract • Memorandum and Articles of Association Inconsistency between the object and the company’s activities Upon incorporation: • Company is an artificial legal person • Separate legal entity Lifting the corporate veil scs&ismk/company law CONT. 2 The Effect of Incorporation • Memorandum of Association & Articles of Directors’
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