transactions were unsuitable. Two critical features of the letters of credit‚ resulted in it being considered as the best alternative. 1. The principle of Autonomy of the Letter of Credit 2. The doctrine of Strict compliance Doctrine of Strict Compliance According to the doctrine of strict compliance‚ banks are bound to pay the beneficiary the amount due under the credit upon the presentation of documents as mentioned in the letter of credit. Autonomy of the Letter of Credit According to the
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This is a case about promises and accountability. It is not about opening the flood gates of liability for any social host who dares to have a party. The issue at hand is whether liability arises from two entirely separate sources of duty with the same set of facts. It can. Those who make promises should be held to account from those promises‚ whether or not someone had a beer to drink. Section 2.03(c) does not preclude Ms. Fleshman’s claim for negligent undertaking because section 2.03(3) applies
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Samaritans and Voluntary organisations. LRC Consultation Paper The recognition and protection of persons providing voluntary assistance has been addressed by the LRC Consultation Paper on Civil Liability of Good Samaritans and Volunteers‚ which proposes the introduction of a statute restricting the liability of such persons who intervene as rescuers. The recommendations in the paper essentially aimed to clarify the confusing position of rescuers in Ireland through the implementation of statute. Section
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Advantage And Disadvantages of Limited Liability Partnership | Advantages * Separate legal entity * Easy to establish * Flexibility without imposing detailed legal and procedural requirements * Perpetual existence irrespective of changes in partners * Internationally renowned form of business in comparison to Company * No requirement of minimum capital contribution * No restrictions as to maximum number of partners * LLP & its partners are distinct from each
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Asset and Liability Management Policy Review Audit Work Program Project Team (list members): Project Timing: Date Comments Planning Fieldwork Report Issuance (Local) Report Issuance (Worldwide) Audit Objectives Review the organization’s policies and procedures related to interest rate risk and Asset and Liability Management‚ including liquidity‚ derivatives‚ and swaps Determine if these policies and procedures are reviewed on a regular basis for effectiveness Assess the Board of Director’s
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would Morr’s capital account be credited ? a/ 32500 c/ 50‚000 b/ 40000 d/ 72‚500 5/ Pavin and abdel share gains and losses in the ratio of 2:1 . After selling all assets for cash ‚ dividing the losses on realization ‚ and paying liabilities ‚ the balances in the capital accounts were as follows : Pavin ‚ 10000 Cr ‚ abdel ‚ 2000 Cr. How many of the cash of 12000 would be distributed to Pavin? a/ 2000 c/ 10000 b/ 8000 d/ 12000 chapter 13: 1/ which of the following
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for the intention of maintaining public order‚ establishing a set of public norms‚ and to create a level of predictability in human behavior and the jurisdiction for this case is judicial. What is accomplice liability and criminal liability and how does it relate to this case? Accomplice liability allows the court to find a person criminally liable for acts committed by a different person. If a person aids‚ assists‚ or encourages another in the commission of a crime‚ they are said to be an “accomplice”
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CHAPTER 6: ACCOUNTING FOR GENERAL LONG-TERM LIABILITIES AND DEBT SERVICE OUTLINE Number Topic Type/Task Status (re: 12/e) Questions: 6-1 Reasons for general long-term liabilities Explain 6-2 6-2 Disclosures of types and changes in liabilities Explain 6-6 6-3 General obligation bonds Describe 6-3 6-4 GO Bonds and enterprise funds Explain 6-5 6-5 Debt margin Explain 6-7 6-6 Purpose of debt service funds Explain 6-8 6-7 Number of debt service funds Explain 6-11 6-8 Year end balance
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To: Senior Attorney From: Paralegal Re: Vicarious Liability John Stokely is responsible for injuring the motorcyclist while driving a vehicle from AAA Auto Dealers. Employers are vicariously liable under the respondeat superior doctrine. In the respondeat superior doctrine‚ in most cases‚ an employer is responsible for the actions of employees performed within the scope of employment. John Stokely used the company’s vehicle for personal reasons‚ regardless of what they were‚ and negligently
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Tran Le The Nhu _ BBA01Qt03 Compare between Private Enterprise and One member limited liability companies Differences | | Private Enterprise | One member limited liability companies | 1. Capital owner | The owner of enterprise must be an individual (Article 141 – paragraph 1) | Is an enterprise which is owned by one organization or individual (the company owner) (Article 63 – paragraph 1) | 2. Share and security | Shall not be allowed to issue any type of securities (Article
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