Breach of Contract & Remedies 1 Breach of contract Nature of breach A breach of contract occurs where a party to a contract fails to perform‚ precisely and exactly‚ his obligations under the contract. This can take various forms for example‚ the failure to supply goods or perform a service as agreed. Breach of contract may be either actual or anticipatory. Actual breach occurs where one party refuses to form his side of the bargain on the due date or performs incompletely. For example: Poussard
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Contingent Liability 1. Analyze why a company would prefer not to disclose its contingent liabilities. In order to understand why a company would or would not disclose his contingent liabilities it is important to know exactly what a contingent liability is. As I have learned throughout all of my accounting studies a liability is simply an obligation or debt that a business owes to an individual or an organization. Now there are many liabilities that include services‚ payroll‚ notes‚ and
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ASSETS & LIABILITIES Asset is an item of value owned by the company. Assets can be tangible i.e. those which have some physical existence or can be intangible i.e. which do not exist in physical form but can be held in the form of contracts or rights. Assets are usually grouped in order of liquidity (ease of conversion to cash) on the balance sheet. Cash is therefore the most liquid of all assets. Assets can be classified as: 1.) Current Assets – Those assets that are expected to be converted to
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Intentional Torts A. A person acts with intent to produce a consequence if: 1. the person has the purpose of producing that consequence; OR 2. the person knows to a substantial certainty that the consequence will ensue from the person s conduct B. Battery 1. An actor commits battery if he acts intending: a. to cause a harmful or offensive contact to person of other or a third person OR b. to cause imminent apprehension of such contact AND c
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Review June‚ 1997 W. Page Keeton Symposium on Tort Law MIXED THEORIES OF TORT LAW: AFFIRMING BOTH DETERRENCE AND CORRECTIVE JUSTICE Gary T. Schwartza Copyright (c) 1997 Texas Law Review Association; Gary T. Schwartz Introduction Currently there are two major camps of tort scholars. One understands tort liability as an instrument aimed largely at the goal of deterrence‚ commonly explained within the framework of economics. The other looks at tort law as a way of achieving corrective justice between
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Assignments PLG-101-1401: Torts & Personal Injury Assignment 1 (based on class 1): View submitted answer Please find on Lexis and read the following case: Watson v. Dixon‚ 130 N.C. App. 47 (N.C. Ct. App. 1998). Then‚ please answer‚ in one to two paragraphs each‚ each of the following questions: ) 1) What were the essential facts of that case? Watson and Dixon were both employed with Duke in the Sterile Processing Department of the Medical Center‚ when Watson began to experience
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Principles of Criminal Liability 1/16/2013 Student ID: Word Count: 2482 Criminal activities are very common in our society. With the intention to hamper the property of other people or causing ill effect to others‚ criminal activities are occurred usually. Sometimes people involve themselves with some activities to injure others due to personal clash or from ill temperament. Some activities which may be done to cause simple injury
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Police Negligence and Liability 1 Running Head: Police Neglect/Liability Police Negligence and Liability Police Negligence and Liability 2 Abstract The purpose of this paper is to examine factors involved in police negligence and the extent of liability the officers hold. Are police officers held accountable for their misjudgments or reckless behavior when they are at fault? This paper exams relevant cases in which police officers have been
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Contingent liabilities are possible future liabilities that will only become certain on the occurrence of some future events. A contingent liability is less certain than a provision‚ the latter is expected to recognize; however‚ a contingent liability might occur. An entity shall not recognize a contingent liability; nevertheless‚ the company should disclose it‚ as required by paragraph 86‚ unless the possibility of an outflow of resources embodying economic benefits is remote. Where an entity
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Current Liabilities Week 3 Assignment Beverly Clarkson November 23‚ 2014 Daniel Carraher RUNNING HEAD: CURRENT LIABILITIES Current Liabilities Current liabilities
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