elements required for formation of valid contract The contract law is a situation where law is related to business transactions. In the situations good are purchased‚ sold‚ as well as moved through the contract. The employees are hired‚ land are developed‚ sold‚ bought leased or financed under the contract. Most of the businesses are based under contracts. Generally‚ the contracts represent foundation of the most of the commercial activities and therefore contract law stands for one of the crucial areas
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Discuss | Print | | | | Works Contract Composition Scheme - Restriction on input credit for certain input services MARCH 01‚ 2011By Santosh HatwarWORKS Contract (Composition Scheme for Payment of Service Tax Rules‚ 2007 provides that a service provider engaged in provision of ‘works contract service’ has an option to pay an amount of 4% of the gross amount charged for the works contract.For this purpose the ‘gross amount charged for the works contract’ means an amount which includes the value
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The Call for Sustainable Construction The construction of buildings in the United States accounts for thirty percent of waste output annually. The construction of these buildings also consume seventy-one percent of the total electrical energy in the U.S. Due to the diminishing health of our planet‚ it is evident that sustainability in construction is a necessity. Sustainable‚ or green‚ buildings are not only beneficial to the planet‚ but also to the owner‚ the designer‚ and the builder. Sustainable
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STRAITS QUAY Task 1: The Straits Quay at Tanjung Pinang Figure 1: Map to Straits Quay‚ Tanjung Pinang Figure 2: At Straits Quay‚ Tanjung Pinang Straits Quay is a Mediterranean-style sea-front integrated development which is claimed by many to be one of the prominent landmark of Penang. Sited in Tanjung Tokong‚ this vibrant development neighbours Quayside and The Brezza. This masterpiece hosts marina‚ a retail mall serviced apartment. The marina us fully equipped with berths‚ pier‚ warehouses and
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$162‚900. If the firm develops a cash shortage by the end of the month‚ sufficient cash is borrowed to cover the shortage. Any cash borrowed is repaid one month later‚ as is the interest due. The interest rate is 12 percent per annum. Required: Prepare a monthly operating budget for the first quarter with the following schedules: 1. Sales budget 2. Production budget 3. Direct materials purchases budget 4. Direct labor budget 5. Overhead budget 6. Selling and administrative expense
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Infrastructure Project Cost Estimating Work Breakdown Paul Hewitt‚ International Project Estimating Limited Introduction Construction Cost Estimating Work Breakdown Structure (WBS) The term WBS has become a common term in all fields related to Cost Engineering including Construction Cost Estimating‚ Scheduling and Project Cost Control. A well defined WBS is the backbone of good Construction Estimating Software and can take several forms including the breakdown of items within an estimate‚ the layout of
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Part A Contracts are an integral part of business and everyday life‚ and are fundamental to construction as the industry relies on the formation of contracts for business agreements. “Contracts are based on the idea of a bargain‚ where each side must put something into the bargain. A contract may be defined as ’an agreement which is binding on the parties’” (Galbraith‚ 1998‚ pg78). There are a number of key components which must be present in the formation of such contracts. Firstly‚ there
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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 agreement between two or more [parties]” (Blum‚ 2007) and in order to be considered binding the contract must contain at least
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Why do they call these contracts derivatives? Where is the optionality in these contracts? Weather derivatives structures commonly used are: i) cap - a call option; ii) Floor - a put option; iii) Collar - a put and a call option‚ usually with little or no premium; iv) Swap - a derivative with a profit and loss profile of a futures contract v) Digital option - an option that pays either a predetermined amount if acertain temperature or degree day level is reached‚ or nothing at all in other
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entrepreneurship issues in Malaysia. The issue chosen must be current issues that occur in last THREE (3) years. 2. Students are required to select issue that are falls under one of these topic :- a. Corporate Entrepreneurship b. Liberalization and Globalization c. Technopreneurship 3. You are required to prepare a written report ONLY. The report must be supported with at least THREE (3) references from journals. 4. The individual assignment must be
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