1. Introduction 1.1 Company background Pigme Private Limited is a young start-up initiated on 20 October 2016 with the vision of encouraging collaborative consumption through the provision of a one-stop integrated rental service platform. The idling or under-utilized items in our home and the increased demand to trial an item before purchase or borrow for one-time usage served as a catalyst for Pigme’s conceptualization. Hence‚ Pigme’s company slogan is: “Why buy‚ when you can Pigme!”. Pigme’s founding
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Question 1 This Problem concerns the enforceability and remedies of leasehold covenants between landlords and tenants‚ and their successors in title. The ground floor lease is granted before 1 January 1996 and so the covenants are governed by a mixture of statute and common law. The first and second floor leases were granted in 2001 after the coming into force of the Landlord and Tenant (Covenant) Act 1995 and are dealt with under this statutory regime. Ground Floor On the facts the original
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Problem: The problem in the case is that there is a speculation on the activity by the Korean tenants because of lack on transparency of the lessee and details on rental agreement. This had caused ethical issues on the landlord-accountability and responsibility‚ townhouse administrator-responsibility and privacy and Korean tenants-transparency and honesty. Facts: A residential townhouse unit in an exclusive subdivision was leased to Mr. Park for a year. The lease agreement includes a provision
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1.0 INTRODUCTION Landlord–tenant law is a part of the common law that details the rights and duties of landlords and tenants. It includes elements of both real property law and contract law. Modern landlord‐tenant law includes a number of other rights and duties held by both landlords and tenants. The relationship of landlord and tenant arises where one person‚ who possesses either a freehold or leasehold property interest expressly or impliedly grants to another‚ an estate
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STATE HOW BOTH COMPANIES SHOULD CLASSIFY THE LEASE. GIVE REASONS FOR YOUR ANSWER. Both Purple Ltd and Lemon Ltd should classify the lease as a finance lease based on the below. Present value of all future lease payments = ($8‚000 – $1‚000) X 3.8897 = $27‚228 Present value of guaranteed residual value = 50% X 7‚200 X 0.6499 Total present value = $27‚228 + $2‚340 of the Bulldozer The present value of the minimum lease payments is substantially all of the fair value of the leased
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The following appeared in a letter to the editor of the Balmer Island Gazette. "On Balmer Island‚ where mopeds serve as a popular form of transportation‚ the population increases to 100‚000 during the summer months. To reduce the number of accidents involving mopeds and pedestrians‚ the town council of Balmer Island should limit the number of mopeds rented by the island’s moped rental companies from 50 per day to 25 per day during the summer season. By limiting the number of rentals‚ the town council
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I. What is the Consideration on both sides of this contract? Defined (in my own words)‚ consideration is something of value that is given in exchange for getting something from another person. In my case‚ rent payments are paid to my landlord in exchange for the right to rent the house. II. Are there any conditions in the contract (precedent‚ subsequent‚ or concurrent)? Concurrent. There is a part in our lease that states that we receive a check back from our landlord‚ in the amount of $400.00 every
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Pros and cons on why people tend to take their personal car on trips instead of renting are because of the convenience and the flexibility‚ with having your own car you can create your own schedule without a timetable. You have the ability to extend your vacation longer with catching on extra charges for not returning the car at its schedule time. Don’t have to pay extra fees like extra mileages‚ insurance‚ certain models‚ being a certain age and fill the gas back up from where you receive it. Having
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Residential Roof Extension: Flat or Pitched Roof? When many homeowners are faced with an expanding family‚ their first thought it that they must sell their current home and look to move into a larger house. However‚ most roofers will tell you that one of the easiest and most cost-effective ways of accommodating a larger family is to simply expand the size of your current home. While this project is fairly labor intensive‚ it allows your family to remain in the same property and prevents your children
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Managerial Accounting 07/03/2012 McCloud Winery – Questions 1. Should the leased building be accounted as an asset? No‚ the lease would be considered an operating lease‚ on which the expense would be accrued day by day as the asset (building) is used. To determine this is in fact an operating lease‚ the life of the lease should be less than 75% of the useful life of the asset being leased. For instance‚ this is a 10 year lease‚ which is less than the economic life of a 30 year asset. The rental
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