Republic of the Philippines SUPREME COURT Manila EN BANC GUILLERMO AUSTRIA‚ petitioner‚ vs. THE COURT OF APPEALS (Second Division)‚ PACIFICO ABAD and MARIA G. ABAD‚ respondents. Antonio Enrile Inton for petitioner. Jose A. Buendia for respondents. REYES‚ J.B.L.‚ J.: Guillermo Austria petitions for the review of the decision rendered by the Court of Appeal (in CA-G.R. No. 33572-R)‚ on the sole issue of whether in a contract of agency (consignment of goods for sale) it is necessary
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TASK 1 (A). SOLE TRADER : Is a business which is owned and manages by one individual‚ who is self-employed and in some case employ other people on either a full time or part time basis. EDEXCEL HNC/HND BUSINESS (2009). A sole trader normally use his own personal funds/capital to start the business and he decided on types of goods or services to produce‚ the location‚ what capital or funds is required etc examples of sole traders are self employed plumbers‚ news agents‚ local
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Advantages of the Corporate Structure A company is a legal entity created separately from those who own and operate it. As a separate entity‚ the company’s debts and taxes are separate from its owners (shareholders)‚ thereby‚ offering the greatest personal liability protection of all business structures. A company is an artificial "legal" person. It is owned by shareholders who have limited liability (i.e.‚ they are not personally responsible for the company’s debts). A company is run by directors
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framework in place were unassailable. Alan Greenspan‚ in his evaluation of the housing crash stated‚ “...the financial system would have held together‚ had the second bulwark against crisis-our regulatory system-functioned effectively.” (Greenspan‚ 212) Creditors‚ credit rating agencies and banks were neglectful in certain areas and found loopholes in the system that eventually lead to the collapse of the financial system. One of the main issues that lead to the crash was not following the simple practice
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3 Lifting the veil SUMMARY Introduction Statutory examples Veil lifting by the courts Classical veil lifting‚ 1897–1966 The interventionist years‚ 1966–1989 Back to basics‚ 1989–present Tortious liability Parent company personal injury tortious liability Commercial tort The costs/benefits of limited liability Introduction 3.1 Book 7a.indb 31 You may not unnaturally wonder at this point what the phrase ‘lifting the veil’ is about. It refers to the situations where the judiciary
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Sources of Agriculture Financing Financing is needed to start a business and ramp it up to profitability. There are several sources to consider when looking for startup financing. But first you need to consider how much money you need and when you will need it. The financial needs of a business will vary according to the type and size of the business. For example‚ processing businesses are usually capital intensive requiring large amounts of capital. Retail businesses usually require less
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general members would be required. Secured loans represent loans taken from banks‚ financial institutions‚ debentures (either from public or through private placement)‚ bonds etc. for which the company has mortgaged immovable fixed assets (land and building) and/or hypothecated movable fixed assets (at times even working capital assets with the explicit permission of the working capital banks) Usually‚ debentures‚ bonds and loans for fixed assets are secured by fixed assets‚ while
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HUNTER v MOSS- Dillon LJ I pass then to the second point of uncertainty. It is well established that for the creation of a trust there must be the three certainties referred to by Lord Langdale in Knight v. Knight (1840) 3 Beav. 148 . One of those is‚ of course‚ that there must be certainty of subject matter. All these shares were identical in one class: 5 per cent. was 50 shares and the defendant held personally more than 50 shares. It is well known that a trust of personalty can be created orally
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Melissa Barajas Carolina Cespedes-Uribe Nancy Ramirez Case 1: Gemini Electronics Memo To: Frank Wang From: Sarah McIvor Date: June 7‚ 2018 Re: Gemini Expansion After giving much consideration‚ time‚ and analysis to the financial information presented for Gemini Electronics‚ we would like to propose a comprehensive review of the company’s standing. This review may aid those seeking guidance and clarification to come to a consensus in making a decision to see if Gemini is in good standing to expand
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role‚ and business ethics. ROLE OF REPO 105 IN LEHMAN’S BUSINESS MODEL The major goal of Lehman’s Repo 105 is to temporarily remove troubled securities from its balance sheet while presenting favorable financial statements to its investors‚ creditors‚ rating agencies‚ and the public. By temporarily removing these securities from its balance sheet‚ Lehman made its leverage ratio much lower. With low leverage ratio‚ Lehman would keep its credit rating at high level and maintained its customers’
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