general there can either be an invitation to treat or offer it is depends on the intention of the parties in each case. If the advertisement of bilateral contracts are not offers whereas advertisement of unilateral contracts are construed to be offers. In the case reference to Carlill v Carbolic Smoke Ball [1893] the advertisement is a unilateral contract was held to be an offer, this is most special. The offer is an offer must be true, rather than an invitation to treat. The invitation of treatment is
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financial reporting, what provides "the why"--the goals and purposes of accounting? a. Measurement and recognition concepts such as assumptions, principles, and constraints b. Qualitative characteristics of accounting information c. Elements of financial statements d. Objectives of financial reporting 7 .
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University 1. Discuss the elements of impossibility of performance and the three situations where this defense can be used. 2. Discuss commercial impracticability and its application to this case. 1. Any breach entitles the non-breaching party to sue for damages, but only a material breach discharges the non-breaching party from the contract. The policy underlying these rules is that contracts should go forward when only minor problems occur, but contracts should be terminated if major problems
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topics which include the type of entity to become and how it affects contracts, liabilities and tax information. We must be aware that there is more than just one type of entity and determining what type of business to become can have some legal implications and therefore must be reviewed thoroughly. II. Types of Entities A. Sole Proprietorships 1. Types of Businesses 2. Potential liabilities 3. Contract responsibilities 4. Employment opportunities B. Partnerships
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BLAW 510 Notes Lecture #1 NY State Local Courts Specialty Court Main 3 Tier System County Court Family Court Court of Appeals City Court Surrogate’s Court Appellate Division Town & Village Court Court of Claims Supreme Court Town & Village You don’t have to be a licensed attorney to become a town / village judge Traffic tickets are the most cases in town/village court DWI Reckless Driving AUO Limited Criminal Jurisdiction (Jurisdiction = Authority) Misdemeanor
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Case Project 1. Revenue Recognition for Multiple-Element Arrangements- The Case of Velocity Cellular. a. Base on Criteria listed in ASC 605-25-25-5, the Activation card is considered option 2) “The activation card is a separate deliverable and a separate unit of accounting in accordance with ASC 605-25.” This is because 1) the activation card “has value on a standalone basis,” and can be “sold separately by any vendor or the customer could resell the item on a standalone basis” (Criteria
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Contract and Event Management 1.1 The main characteristics of the contract and Event catering sectors. In the UK catering market, contract caterers are the key players and they are expert operators who are destined to take charge of the catering amenities for a whole variety of organisations. Likewise, growth in the recent years has been through the food service market as it has developed. The UK’s contract catering sector is subjugated by international operators, for instance; Sodexho, Aramark
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..................................................................................... 4 d) Calculation for cost of capital on lodging and restaurant division.............................................. 5 5. The cost of capital for Marriott’s contract services division ........................................................... 6
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airplane would not imply ownership. It would simply be considered prepaid rent or an advance lease payment. It should therefore be recognized in periodic installments over the period of the lease. This way, if the lessee decides to terminate the contract, it will be easier to calculate how much he is due back and how much of the revenue should be allocated and recognized. Disclosure is not recognition. Although the sales price of the fractional ownership is disclosed and collected by Trans-Share
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wasteful or questionable costs resulting in the government losing millions of dollars on bad contracts. This paper will evaluate the importance of the IGCE and reasons for confidentially; present a detailed cost estimate based on a notional contract and evaluate types of statements of work in regard to the notional contract; and finally, determine the most appropriate type of statement of work for this contract. The Importance of the Independent Government Cost Estimate (IGCE) What is the IGCE
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