FORENSIC ACCOUNTING Abstract In today’s fast growing business world‚ it is necessary for an organization to evaluate its systems‚ internal control procedures and to analyze the risks involved to ascertain appropriate implementation and working of its processes. The organization must also identify‚ record‚ settle‚ extract‚ sort‚ report and verify past financial data. With increasing number of frauds within organizations‚ the regulatory framework has also been enhanced with introduction of
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and it will never exist) or VOIDABLE ( contract is valid up to the point at which is set aside). 1. Mistake- VOID e.g. the parties were at cross purposes about the subject matter of the contract. 2. Misrepresentation- VOIDABLE e.g. false statement of fact about an item ( fraudulent‚ negligent ‚ innocent) 3. Duress- VOIDABLE e.g. Threat of violence or economic threat 4. Under Influence- VOIDABLE e.g. someone has influenced another to enter a contract no in their best interest.
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[pic] [pic] [pic] [pic] [pic] [pic] I wish to express my sincere appreciation to Mr. Raymond Kiptum‚ my tutor‚ for his patients‚ encouragements and individual counsel and my classmates who that helped me through with these Assignment tasks. □ ACKNOWLEDGEMENT……….. 2 □ TASK 1 INTRODUCTION……….5 ← Definition of Law ← Classification of Law & Classification of Civil Law
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COMMERCIAL LAW FEEDBACK EXERCISE The issue in this case is whether there is misrepresentation or breach of contract. The distinctions between the two legal issues of misrepresentation and breach of contract are dependent on whether the pre-contractual statement was made on the basis of a representation‚ or on a promise or obligation to be fulfilled. Breach of contract is a legal cause of action in which a binding agreement or bargained-for exchange is not honored by one or more of the parties
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QUESTION Running late for his exciting evening law class‚ Sam desperately seeks out a car park in the CBD of Melbourne‚ state of Victoria Australia. He spots the car park operated by Citipark Ltd. Sam drives up a ramp which has raised concrete barriers on either side. As it is rush hour‚ there are a few cars in front of him and soon some more line up behind him. Sam stopped his car at the barrier entrance of the car park which had a mechanical arm preventing cars moving into the parking
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Contents PART A Ignorant Hairdresser vs. Professional Consultant 4 Know Your Client 5 Appropriate Advice based on Reason 6 Fiduciary Duty and Conflict of Interests 7 Making False Representations as to returns – Misrepresentation 8 Fraudulent Misrepresentation 8 Is Paula able to claim in negligence under tort? 9 Factors determining existence of a special relationship and duty of care: 9 Resulting Remedies? 11 Should Eastpoint be held responsible for the unprofessional
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Assignment Answers – Part B Question 3 Joe claims that Betty’s Drycleaning Service (BDS) is responsible to compensate him for the loss of his dinner jacket and the damage to his trousers. He is claiming $500 as the replacement cost of a new suit. BDS‚ through its new owner‚ Bruce‚ is denying responsibility for this loss and damage due to an exclusion clause on the docket handed to Joe (as usual) when he left his items to be dry cleaned. Bruce also points to a sign at the back of the shop
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Theater is made by Tommy‚ a customer who claimed to have received a poor experience at the theater. In the following report‚ we used legal‚ statistical‚ and ethical reasoning. Legal: After analyzing both parties’ facts‚ there is a lack of fraudulent misrepresentation to follow suit. Therefore‚ Tommy has a weak standing. Statistical: 94% of surveyed moviegoers were not fazed by the commercials screened before the featured film. Ethical: The litigation by Tommy was propelled by the lack of quality
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CONSENT” DEFINED Under Section 14‚ Consent is said to be free when it is not caused by 1. coercion‚ as defined in section 15‚ or 2. undue influence‚ as defined in section 16‚ or 3. fraud‚ as defined in section 17‚ or 4. misrepresentation‚ as defined in section 18‚ or 5. mistake‚ subject to the provisions of sections 20‚ 21 and 22. ELEMENTS VITIATING FREE CONSENT 1. COERCION (SECTION 15) “Coercion” is the committing‚ or threatening to commit‚ any act forbidden by the
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“Predatory Lending and the Devouring of the American Dream” by Constance M Ruzich and A.J. Grant Cowen‚ Tyler. “So We Thought‚ But Then Again….” New York Times 13 Jan. 2008: BU6. Smith‚ Yves. “Up to 70 Percent of Mortgage Defaults Linked to Misrepresentation.” [weblog entry] Naked Capitalism. 13 Oct. 2007. 26 July 2008 Http://www.nakedcapitalism.com/2007/10/ up-to-70-of-mortgage-defaults-linked-to.html Openmarket.org “Fannie and Freddie Helped Spawn the Mortgage Crisis‚ So Did Affordable Housing
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