Part 1 Business Enterprises in China 1.0 Introduction 2.0 Proprietorships 3.0 Partnerships 4.0 Corporates 1.0 Introduction In the People’s Republic of China, business organizations may be classified in to three main classes: individual proprietorships, partnerships, and corporations. The laws that effect these forms of business enterprises are diverse. There is no single code or statute that governs the PRC law of business enterprises. According to the sources of capital, there are domestic
Words: 12251 - Pages: 50
Duties of the seller in a C.I.F contract and its counterpart: the right of rejection of the buyer ‘A C.I.F. contract ... is a type of contract which is more widely and more frequently in use than any other contract used for the purposes of sea-borne commerce’ . Nowadays, it is necessary to ensure the international trade throughout the world and in so doing, a seller and a buyer coming from different countries and entering into a contract of sale can have various interpretations about
Words: 4906 - Pages: 20
CONTRACTS Stages in the life of a contract: 1. Preparation/Generation 2. Perfection/Birth 3. Consummation/Death Characteristics of Contracts: (ROMA) 1. Relativity (Art. 1311) 2. Obligatoriness & Consensuality (Art. 1315) 3. Mutuality (Art. 1308) 4. Autonomy (Art. 1306) Stipulation pour Autrui - stipulation in favor of a 3rd party. Requisites: 1. The stipulation must be part, not whole of the contract; 2. the contracting parties must have clearly and deliberately conferred
Words: 5188 - Pages: 21
life, and property insurance to only name a few. Insurance agencies accumulate millions of dollars of risk that if not handled appropriately can result in devastating loses. But, what if an insurance company wants insurance or they realize they have taken on too much risk? There must be a way for insurance agencies to protect themselves from the potentially crippling risk they have put on themselves. The answer is reinsurance, ‘insurance for insurance agencies.’ Insurance agencies can transfer the risk
Words: 2228 - Pages: 9
income tax; National Insurance contributions; value added tax and other indirect taxes; capital taxes such as capital gains tax and inheritance tax; corporation tax; taxes on North Sea oil production; local (council) tax; and the non-domestic property tax. The information given in these sections relates, where possible, to the tax system for the fiscal year 2001-2. In Section 4, we set the current system in the context of reforms that have taken place over the last 22 years. This section attempts
Words: 13377 - Pages: 54
NOVATION, COOMPENSATION, CONFUSION, REMISSION NOVATION- modification of an obligation. – changing the principal object of the obligation. = substitution of the person of the debtor. Compensation- takes place when 2 people on their own right are creditor and debtor of each other. Confusion- takes place when the character of the creditor or debtor are merge on the same person. PENAL CLAUSE- Is an accessory undertaking to assume greater liability on the part of the obligor in case of breach. PRINCIPAL
Words: 1051 - Pages: 5
COMPENDIUM Budget Terms and Concepts Donald M. Patimo, MPM In partial fulfillment of the requirements in Budget Preparation and Fiscal Management October 18, 2008 Ability to pay This refers to the borrower’s ability to make interest and principal payments on debts. Accelerated depreciation This refers to any depreciation method that produces larger deductions for depreciation in the early years of an asset’s life. Account This refers to a record
Words: 31511 - Pages: 127
Introduction The Canadian charter of rights and freedom is one part of the Canadian Constitution. The Constitution is a set of laws containing the basic rules about how our country operates. For example, it contains the powers of the federal government and those of the provincial governments in Canada Importance The Constitution is the supreme law of Canada. Generally speaking, all other laws must be consistent with the rules set out in the Constitution. If they are not, they may not be valid. Since
Words: 1393 - Pages: 6
Hazard Reduction Program (NEHRP): Legislation to Address a Particular Hazard b. The Homeland Security Act of 2002: A New Emergency Management c. The Disaster Mitigation Act of 2000: A Shift to Pre-Disaster Mitigation 3. Additional Sources of Information 4. Glossary of Terms 5. Acronyms 6. Discussion Questions a. General b. NEHRP c. Homeland Security Act of 2002 d. DMA 2000 7. Suggested Out of Class Exercises Introduction No emergency
Words: 25108 - Pages: 101
Confidential Disclosure Agreement: This Agreement is entered into this 14th day of January, 2013 by and between Infinity Inc., with offices in Illinois (hereinafter "Recipient") and Heartlandangels.com, with offices in Illinois (hereinafter "Discloser"). WHEREAS Discloser possesses certain ideas and information relating to new energy technology that is confidential and proprietary to Discloser (hereinafter "Confidential Information"); and WHEREAS the Recipient is willing to receive disclosure
Words: 523 - Pages: 3
