The economic crisis began when the U.S. government subsidized mortgages for families and individuals who could not afford to buy homes. By doing so‚ the demand for housing skyrocketed‚ resulting in increased home values. Meanwhile‚ mortgage companies and banks celebrated their financial incentive to provide loans to anyone‚ regardless of credit history. The combination of falsely inflated home prices and “generous” bank loans burst the artificial bubble of prosperity Americans were enjoying. As home
Premium Subprime mortgage crisis Mortgage Loan
. Enron senior management gets a failing grade on the truth and disclosure and a passing grade on arrogance and greed. For Fifteen years Enron was a paper tiger with few questions ever asked concerning its earnings profitability or business practices. The deceit and deception by Enron management seems to be the environment of a divisive marketing campaign that Kenneth Lay‚ Jeffery Skilling and Andrew Fastow hide while touting Enron. In reality Enron was one of the greatest Ponzi schemes to date
Premium Enron
of the worst travesties in the rules of evidence and practice in the noble profession of law. EMERGENCY VERSION: Paredes‚ a Provincial Attorney‚ applied for a free patent. It was granted by later on cancelled as it was obtained through fraudulent misrepresentations‚ as the land had been designated and reserved as a school site. A case for perjury was filed against him‚ and the Tanodbayan issued a recommendation for criminal prosecution. In all these cases‚ Atty. Sansaet was the counsel for Paredes
Premium Lawyer Legal terms Law
ESSENTIAL REQUISITES OF CONTRACTS Article 1318. There is no contract unless the following requisites concur: 1. Consent of the contracting parties; 2. Object certain which is the subject matter of the contract; 3. Cause of the obligation which is established. Article 1319. Consent is manifested by the meeting of the offer and the acceptance upon the thing and the cause which are to constitute the contract. The offer must be certain and the acceptance absolute. A qualified acceptance
Premium Contract
(Skousen‚ K. Fred‚ 1991). The Securities Act of 1933 also called as the truth in securities law‚ the goal of this Act is to restrict misrepresentation and also that controls fraudulent activities in the sale of securities. (Gretchen Morgenson‚ 2010). This Act provides required information to investors regarding securities offered for public sale. The SEC confirms that these goals are attained. Securities
Premium Finance Economics Investment
Accountant liability law varies across states within the United States. Clearly‚ accountants are liable to their clients for any mistakes that they make within their realm of work. However‚ the liability becomes questionable when dealing with third parties. A company may have many affluent stakeholders relying on their financial statements in order to make important decisions‚ which may have monetary impacts. Therefore‚ an auditor’s precision is imperative. There have been many proposals in which
Premium Tort Accountant Audit
CHAPTER 2 > ESSENTIAL REQUISITES OF CONTRACTS GENERAL PROVISIONS Art. 1318. There is no contract unless the following requisites concur: (1) Consent of the contracting parties; (2) Object certain which is the subject matter of the contract; (3) Cause of the obligation which is established. (1261) SECTION 1. – Consent Art. 1319. Consent is manifested by the meeting of the offer and the acceptance upon the thing and the cause which are to constitute the contract. The offer must
Premium Contract
the agreement of one of the parties to the contract would have been induced by an impropriety attributable to one of the parties to the agreement. There are specific categories of improperly obtained consensus which are misrepresentation‚duress and undue influence. Misrepresentation is a pre-contractual statement or conduct which creates a false impression in the mind of a contractual party and which
Premium Contract Contract law
AB1301 Business Law 2012/13 Semester 1 TABLE OF CONTENTS CHAPTER 3: OFFER AND ACCEPTANCE ........................................................................................... 1 3.1 Offer ........................................................................................................................................... 2 3.2 Acceptance ................................................................................................................................ 3 3.1 Electronic
Premium Contract Contract law
REPORT ON FRAUD SEC.17 INDIAN CONTRACT ACT 1872 Definition of contract: A contract is an agreement made between two or more parties which the law will enforce. Sec 2(h) defines contract as an agreement enforciable by law. Contract = An agreement + enforceable by law * According to Sir William Anson: A legally binding agreement between two or more persons by which rights are acquired by one or more to acts or forbearances (abstaining from doing something) on the part of the others.
Premium Contract