INTRODUCTION 1.1 Concept of Risk The word risk is certainly used frequently in everyday conversation and seems to be well understood. Risk implies some form of uncertainty about an outcome in a given situation. An event might occur and if it does‚ the outcome is not favourable to us. Risk can be contrasted with the word chance which implies some doubt about the outcome in a given situation; the difference is that the outcome may also be favourable e.g. risk of an accident‚ chance of winning
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Part 1 THE FORMATION OF A CONTRACT There are five basic requirements that need to be satisfied in order to make a contract: ● An agreement between the parties (which is usually shown by the fact that one has made an offer and the other has accepted it). ● An intention to be legally bound by that agreement (often called intent to create legal relations). ● Certainty as to the terms of the agreement. ● Capacity to contract. ● Consideration provided by each of the
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A futures contract is a commitment to make or take delivery of a specific quantity of a commodity or other financial obligation at a predetermined place and time in the future. All terms of the contract are standardized and established beforehand‚ except for the price‚ which is determined by open outcry in a pit or ring on the exchange trading floor of a commodity exchange. All contracts ultimately are settled either through liquidation (by offsetting purchases or sales) or by the delivery of the
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CONTENT 1. INTRODUCTION 6 2. EXECUTIVE SUMMARY 7 3. OBJECTIVE OF THE STUDY 8 4. COMPANY PROFILES 9-13 5. DEPARTMENT OVERVIEW 15-17 6. INSURANCE FUNCTION 18-20 7. SOME TERMS ABOUT ULIP PLANS 21-23 8. PRODUCT PROFILE 24-44 9. TAXATION BENEFIT 45-48 10. COMPARATIVE STUDY OF DIFFERENT FIRMS 48-51 11. RESEARCH METHODOLOGY 52-54 12. CONCLUSION & RECOMMENDATION 55 13. BIBILOGRAPHY 56
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return policy? • Why or why not? Be sure to support your answer. • Does it make a difference if the minor makes a purchase by signing a written contract? A minor or other incompetent party who makes a purchase is essentially entering into a contract with the seller and technically and legally speaking does have the right to return the purchased item based on their in-ability to legally enter into the contract. A contract can be defined as “an exchange relationship created by oral or written
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methodologies‚ the pros and cons that exist with these methods‚ 2) describe information technology applications‚ how they may be used to improve patient falls‚ 3)discuss how benchmarking and milestones are involved in managing the use of quality indicators‚ and finally‚4) describe how performance and quality measures are aligned to an organization’s mission‚ vision‚ and strategic plan‚ and how these measurements align with Self-Regional Hospital’s mission‚ vision‚ and strategic plan for improvement.
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HISTORIES AND IDEOLOGIES OF WELFARE Ideology is a system and ideas‚ especially one which forms the basis of economic or political theory and policy (oxford dictionary). Everybody has his/her own ideology‚ they are our own systems of believe that shape and structure the way we see the world‚ and make judgment about it‚ and each individual’s ideological perspectives is different and unique. Individual ideologies are both capital and prescriptive; we know what is wrong with
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Micro insurance Micro insurance is the key element in the financial services for people at the bottom of the pyramid. The poor face more risks than the well off‚ but more importantly they are more vulnerable to the same risk. Usually the poor face different type of risks i.e. Household type‚ drought and epidemic etc. To combat these risks‚ the poor do‚ proactive risk manages meat like grain storage‚ savings‚ assets accumulation loans from friends and relatives. Micro insurance provides greater
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BUSE221-INSURANCE AND RISK MANAGEMENT IIA COURSE NOTES GENERAL PRINCIPLES OF INSURANCE LAW Apart from the principles governing all contracts insurance is also governed by its own unique principles. INDEMNITY • Is perhaps the most fundamental principle of insurance law. Object of indemnity is to place the insured after the loss in the same position he occupied immediately before the loss. He is not to be placed in a better or worse position. • Not all insurance contracts are contracts
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TYPES OF CONTRACTS The risk shared between the buyer and seller is determined by the contract type. Although the firm-fixedprice type of contractual arrangement is typically the preferred type which is encouraged and often demanded by most organizations‚ there are times when another contract form may be in the best interests of the project. If a contract type other than fixed-price is intended‚ it is incumbent on the project team to justify its use. The type of contract to be used and the specific
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