There is an obligation on the states to take appropriate measures to prevent or minimize as far as possible the risk of significant harm. International litigation has always seen majority of States accepting the existence of a duty to take precautionary and preventive measures against activities which may cause transboundary harm. The Applicant contends that the Precautionary Principle entails the obligation on states to undertake or to cease from undertaking any activity which may harm the environment
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order to understand an individual’s obligation to the environment there are two things of integrity; integration and integrality. There is no set
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The Natural Gas Case Introduction * This case is about the negotiation of buying a gas between two parties involved – the plaintiff a German company and the defendant an Austrian partnership. On the 18th of December 1990 the plaintiff faxed the defendant with an offer to buy 700-800 metric tons. Meanwhile Austria responded that the ship will be from US for delivery to Belgium and the price is $376 per tone. Additionally a letter of credit was required‚ since both of the parties haven’t seen
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fluctuations in the purchasing power or in the foreign exchange rate of money does not affect the amount owed (i.e. the particular sum of money owed) under an obligation to pay. In other words‚ the amount is fixed and remains unchanged irrespective of the changes in the value of money. Place of payment –This is the place of performance of the obligation of a debtor to pay under an international contract. Direct effect – 1) an effect is “direct” if it comes as an “immediate consequence of the defendant’s
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CONTRACT – DISCHARGE (Pg 161) Discharge refers to a termination of a contract. After a contract is discharged‚ the parties are relieved of their obligations under the contract. There are four ways Performance‚ Breach‚ Agreement and Frustration. Performance Performance – discharging a contract by performing all obligations as stipulated in the contract. Precise Performance Cutter v Powell (1795) The court held that payment was conditional upon the completion of the voyage; payment even
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II. Rights and obligations: the assets presented in the financial statements are actually assets for which entity holds the ownership right or has all the necessary controls the right to use the asset. Similarly‚ the liabilities recorded are actually the obligations of the entity. III. Completeness: all the assets‚ interests and obligations of the entity that required recording have been recorded in the financial statements IV. Valuation and allocation: all the assets‚ obligations and equity interests
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advantage of these mechanical rules‚ quite legally‚ to their economic advantage‚ thus obtaining almost all the same economic benefits associated with ownership of long-term assets‚ but avoiding the detrimental impact that recording those assets and obligations can have on their debt ratios. Pensions and Postretirement Liabilities Most companies have retirement plans for their employees. A pension is employee compensation that will be received during retirement. Companies also provide postretirement
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do represent the expectations for CPAs on the part of the public in the performance of professional services. In this regard‚ the Principles are based on values of the profession and traits of character (virtues) that enable CPAs to meet their obligations to the public. The Principles include (1) Responsibilities; (2) The Public Interest; (3) Integrity; (4) Objectivity and Independence; (5) Due Care; and (6) Scope and Nature of Services. The umbrella statement in the Code is that the overriding
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role of sanctioned deviance. Being sick is not a state of fact or condition it is a specifically patterned social role. It compromises of 2 rights and 2 duties. Being sick is not simply a state of fact or condition it contains customary rights and obligations based on social norms thats surround it. Parsons believes that a person who is sick enters a role of sanctioned deviance‚ this is because a sick individual is not a productive member of society. This deviance needs to be policed which he believes
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enforce obligation or duties rather than rules that confer authority or sovereignty. Hart intends to offer a superior analysis of the unique formation of a public legal system as well as an improved understanding of the similarities and dissimilarities between law‚ morality and coercion as part of a social realm. Thus‚ Hart begins his theory with the idea that the presence of law means that particular types of human behaviour are no longer optional; rather‚ they have a sense of obligation. Secondly
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