...ATENEO CENTRAL BAR OPERATIONS 2007 Taxation Law SUMMER REVIEWER PART I – GENERAL PRINCIPLES TAXATION – power inherent in every sovereign State to impose a charge or burden upon persons, properties, or rights to raise revenues for the use and support of the government to enable it to discharge its appropriate functions SCOPE OF TAXATION TAXATION IS: Unlimited, Far-reaching, Plenary Comprehensive Supreme STAGES OF TAXATION: (LAP) 1. Levy 2. Assessment 3. Payment Basic Principles of a Sound Tax System 1. Fiscal Adequacy 2. Theoretical Justice 3. Administrative Feasibility INHERENT LIMITATIONS (SPING) 1) Situs or territoriality of taxation 2) Must be for a Public purpose • Test is whether proceeds will be used for something which is the duty of the State to provide. • Legislature is not required to adopt a policy of “all or none.” • Incidental benefit to individual does not defeat exemption 3) International comity • Property of a foreign State of government may not be taxed by another 4) Non-delegability of the taxing power • Contemplates power to QuickTime™ and a TIFF (Uncompressed) decompressor determine kind,thisobject, extent, are needed to see picture. amount, coverage, and situs of tax; • Distinguish from power to assess and collect • Exemptions: (a) presidential taxing powers; (b) local governments 5) Exemptions of Government agencies • Taking money from one pocket • to the other Applies only to entities exercising government functions (acta jure imperii) CONSTITUTIONAL...
Words: 81188 - Pages: 325
...CIVIL LAW REVIEWER TABLE of CONTENTS OBLIGATIONS Table of Contents Chapter II. Nature and Effect of Obligations93 I. Kinds of Prestations ............................93 II. Breach of Obligation............................94 III. Fortuitous Event (Force Majeure) .......96 IV. Remedies to Creditors ........................96 V. Usurious Transactions and Rules on Interest .........................................................97 Chapter III. Different Kinds of Obligations ..98 I. Pure and Conditional Obligations .......98 II. Reciprocal Obligations ......................100 III. Obligations with a Period ..................100 IV. Alternative and Facultative Obligations 101 V. Joint and Solidary Obligations ..........103 Effects of Prejudicial and Beneficial Acts (Art.1212) ...................................................105 VI. Divisible and Indivisible Obligations..106 VII. Oblligations with a Penal Clause ..106 Chapter IV. Extinguishment of Obligations .......................................................................107 I. Payment or Performance ..................107 II. Loss or Impossibility..........................109 III. Condonation or Remission of the Debt 109 IV. Confusion or Merger of Rights ..........110 V. Compensation ...................................110 VI. Novation ............................................111 Charts: Payment & Performance ................114 90 OBLIGATIONS Chapter I. General Provisions...
Words: 19824 - Pages: 80
...ATENEO CENTRAL BAR OPERATIONS 2007 Remedial Law SUMMER REVIEWER 3. Special Proceedings – remedy by which a party seeks to establish a status, a right, or a particular fact. CIVIL PROCEDURE CLASSIFICATION OF ACTIONS (A) As to nature ORDINARY ACTION Governed by rules. CIVIL ordinary SPECIAL CIVIL ACTION Also governed by ordinary rules but SUBJECT to specific rules prescribed (Rules 62 to 71). Special features not found in ordinary civil actions. RULE 1 GENERAL PROVISIONS Section 1. Title of the Rules The Rules of Court are not penal statutes. They cannot be given retroactive effect. They can, however, be made applicable to cases pending at the time of their passage and therefore are retroactive in that sense. Under the 1987 Constitution, the rule-making power of the Supreme Court has the following limitations: 1. It must provide a simplified and inexpensive procedure for the speedy disposition of cases; 2. Uniform for all courts of the same grade; and 3. Shall not diminish, increase or modify substantive rights (Art: VIII Section 5[5]). Section 2. In what courts applicable Section 3. Cases governed ACTION CLAIM An ordinary suit in a A right possessed by one court of justice. against another. One party prosecutes The moment said claim is another for the filed before a court, the enforcement or claim is converted into an protection of a right or action or suit. QuickT the prevention or redress ime™ and a TIFF (Uncompressed) decompressor are needed to see this picture. of...
Words: 40805 - Pages: 164
...ATENEO CENTRAL BAR OPERATIONS 2007 Civil Law SUMMER REVIEWER OBLIGATIONS AND CONTRACTS • TITLE 1 - OBLIGATION • Art. 1156. An obligation is a juridical necessity to give, to do or not to do. (n) CHAPTER 1. – GENERAL PROVISIONS See Arts. 1156 - 1162 ELEMENTS OF AN OBLIGATION: 1. Active subject (obligee/creditor): one in whose favor the obligation is constituted 2. Passive subject (obligor/debtor): one who has the duty of giving, doing or not doing 3. Object: prestation; the conduct which has to be observed by the debtor/obligor REQUISITES 1. it must be licit (otherwise it is void) 2. it must be possible, physically and juridically (otherwise it is void) 3. it must be determinate or determinable (otherwise it is void) 4. it must have pecuniary value a. Vinculum Juris: juridical/legal tie; binds the parties to the obligation b. Causa (causa debendi/causa obligationes): why obligation exists SOURCES OF OBLIGATION Art. 1157. Obligations arise from: (1) Law; (2) Contracts; (3) Quasi-contracts; (4) Acts or omissions punished by law; and (5) Quasi-delicts. (1089a) forth CONTRACT (OBLIGATION EX CONTRACTU) • Must be complied with in good faith • it is the “law” between parties; —Adviser: Dean Cynthia del Castillo QUASI-CONTRACT (OBLIGATION EX QUASICONTRACTU) • Juridical relation resulting from lawful, voluntary and unilateral acts, which has for its purpose, the payment of indemnity to the end that no one shall be unjustly enriched or benefited at the expense of another. • Distinguished...
Words: 14828 - Pages: 60
...OBLIGATIONS AND CONTRACTS REVIEWER TITLE I – OBLIGATIONS CHAPTER 1 GENERAL PROVISIONS 1156. An obligation is a juridical necessity to give, to do, or not to do. JURIDICAL NECESSITY – juridical tie; connotes that in case of noncompliance, there will be legal sanctions. • • An obligation is nothing more than the duty of a person (obligor) to satisfy a specific demandable claim of another person (obligee) which, if breached, is enforceable in court. A contract necessarily gives rise to an obligation but an obligation does not always need to have a contract. KINDS OF OBLIGATION A. From the viewpoint of “sanction” - (a) CIVIL OBLIGATION – that defined in Article 1156; an obligation, if not fulfilled when it becomes due and demandable, may be enforced in court through action; based on law; the sanction is judicial due process (b) NATURAL OBLIGATION – defined in Article 1423; a special kind of obligation which cannot be enforced in court but which authorizes the retention of the voluntary payment or performance made by the debtor; based on equity and natural law. (i.e. when there is prescription of duty to pay, still, the obligor paid his dues to the obligee – the obligor cannot recover his payment even there is prescription) the sanction is the law, but only conscience had originally motivated the payment. (c) MORAL OBLIGATION – the sanction is conscience or morality, or the law of the church. (Note: If a Catholic promises to hear mass for 10 consecutive...
Words: 33069 - Pages: 133
...Amazon.com, Inc. (NASDAQ: AMZN) is an American-based multinational electronic commerce company. Headquartered in Seattle, Washington, it is America's largest online retailer, with nearly three times the Internet sales revenue of the runner up, Staples, Inc., as of January 2010.[3] Jeff Bezos founded Amazon.com, Inc. in 1994 and launched it online in 1995. It started as an online bookstore, but soon diversified to product lines of VHS, DVD, music CDs and MP3s, computer software, video games, electronics, apparel, furniture, food, toys, and so on. Amazon has established separate websites in Canada, the United Kingdom, Germany, France, Japan, and China. It also provides international shipping to certain countries for some of its products. On January 15, 2009, a survey published by Verdict Research found that Amazon was the UK's favorite music and video retailer, and came third in overall retail rankings.[4] History Amazon was founded in 1995,[5] spurred by what Bezos called "regret minimization framework", his effort to fend off regret for not staking a claim in the Internet gold rush.[6] While company lore says Bezos wrote the business plan while he and his wife drove from New York to Seattle,[7] that account appears to be apocryphal.[8] The company began as an online bookstore;[8] while the largest brick-and-mortar bookstores and mail-order catalogs for books might offer 200,000 titles, an online bookstore could offer more. Bezos named the company "Amazon" after the world's...
Words: 6080 - Pages: 25
...AACSB Table 10-1: Summary of Faculty Qualifications, Development Activities, and Professional Responsibilities Date Range: January 1, 2007 - August 1, 2012 Accounting: Professor | | | | | | | Five-Year Summary of Development Activities Supporting AQ or PQ Status | | Name | Highest Earned Degree & Year | Date of First Appointment to the School | Percent of Time Dedicated to the School's Mission | Acad Qual | Prof Qual | Other | Intell. Contrib. | Prof. Exper. | Consult. | Prof. Develop. | Other Prof. Activities | NormalProfessionalResponsibilities | | | | | | | | | | | | | | Som Bhattacharya | Ph D, 1994 | | 100.0 | YES | | | 12 (5) | Service: 0Work: 0 | 0 | 0 | Editor/Review: 6Other:13 | UG, GR, RES, SER and ADM | Intellectual Contributions (12) Hopwood, W., Bhattacharya, S., Premuroso, R. (2011). Tasteless Tea Company: A Comprehensive Revenue Transaction Cycle Case Study. Issues in Accounting Education, 26(1), 163-179. Cao, J., Nicolaou, A., Bhattacharya, S. (2010). A Longitudinal Study of market and Firm Level Factors Influencing ERP Systems’ Adoption and Post-Implementation System Enhancement Options. 7th Annual International Conference on Enterprise Systems, Accounting, and Logistics. Rhodos: ICESAL. Behara, R., Bhattacharya, S. (2008). DNA of a successful BPO. Journal of Service Science, 1(1), 111-118. Premuroso, R., Bhattacharya, S. (2008). Do Early Members of XBRL International Signal Superior Corporate Governance and Future...
Words: 51731 - Pages: 207
...Exercise #61 Item #1 Tom, I would like to have a meeting with yourself and your supervisor to review the evaluation. Are you available on Friday at 10:00 am? Sincerely, Jane Smith HR Department Additional Action: I will email Tom Morrison’s boss and discuss the evaluation with him. I hope that in my discussion I will discover that he has set forth a course of action to discus training and performance goals with this employee in achieving a stronger performance review in the future. (Mathis, Robert, et al. pg. 357) I will be sure to discuss with him the dangers of rating patterns and contrast errors. It is important that the reviewers understand that they should steer clear of rating employees against each other and stick to rating employees to the performance standards. (pg. 358) When evaluating employees they will need to be careful they are not rating an employee by a pattern or “average.” (pg. 357) If an employee is new, there may be areas they are strong in and other areas where a coaching opportunity may be present, so it is important to give them accurate feedback. It is also important to note the benefits of giving appropriate positive review content and not to focus too much on the negative. Too often managers are guilty of sticking to the negative aspects, which discourages employees. This will only deflate them and result in loss of commitment. (Thompson) Item #2 Thank you for bringing this concern to our attention. I have discussed this situation with...
Words: 1529 - Pages: 7
...work that Dietz’s Company, Dietz’s Development LLC did on her house; Perez allegedly took to the web and stated that the company did damage to her house and that jewelry that was in her home had disappeared. A judge in Fairfax Country Virginia ruled in the preliminary injunction that certain accusations made by Perez about Dietz’s company be deleted. Perez’s comments, according to abcnews.go.com are no longer viewable on Yelp’s page for Dietz’s company. Actual online review websites, such as Yelp, Tripadvisor, Angie’s list, etc. are protected from lawsuits by the Communication Decency Act of 1996. Section 230 of the law, according to abcnews.go.com, protects online service providers from liability based on actions of third parties (also known as, users). However claims made by the reviewer can be subject to defamation charges, which varies based on state laws. In Virginia, where Dietz is bring the lawsuit, the state says that someone can be found guilty of defamation charges if he or she makes or implies statements that are not factual and that harm a person or businesses’ reputation. In 2011, a study done by Harvard Business School found a link between an uptick in a Yelp review rating and an increase in revenue for restaurants. On average, the study found a one star increase on Yelp leads to a five (5) to (9) percent in revenue for that particular restaurant. There has been potential backlash from taking legal actions for Dietz’s business; even though Perez’s negative review...
Words: 3360 - Pages: 14
...Accounting Oversight Board ("PCAOB"). Such engagements include an audit of financial statements, an audit of internal control over financial reporting, and a review of interim financial information. This standard does not replace specific documentation requirements of other standards of the PCAOB. Objectives of Audit Documentation 2. Audit documentation is the written record of the basis for the auditor's conclusions that provides the support for the auditor's representations, whether those representations are contained in the auditor's report or otherwise. Audit documentation also facilitates the planning, performance, and supervision of the engagement, and is the basis for the review of the quality of the work because it provides the reviewer with written documentation of the evidence supporting the auditor's significant conclusions. Among other things, audit documentation includes records of the planning and performance of the work, the procedures performed, evidence obtained, and conclusions reached by the auditor. Audit documentation also may be referred to as work papers or working...
Words: 9903 - Pages: 40
...The Wolf of Wall Street. | Under the guidance of Professor – Rita Tina Olivia Limbu.Name – Abhishek Shah.Pace ID – U01285579.Submission Date – 03/31/2016. | The Wolf of Wall Street. | Under the guidance of Professor – Rita Tina Olivia Limbu.Name – Abhishek Shah.Pace ID – U01285579.Submission Date – 03/31/2016. | The Wolf of Wall Street. By – Martin Scorsese, 12/25/2013. Martin Scorsese’s Note – Martin Charles Scorsese is an American producer, director, actor, film producer and film historian. Born on 11/17/1942, Scorsese is 73 years old and belongs to Queens, New York, the United States of America. Scorsese, is the founder of “The Film Foundation” (1990), and “World Cinema Foundation” (2007). He has achieved many awards and is renowned personality in the United States of America. His awards include – AFI life achievement award, Academy Awards, Palme d’Or, Cannes film festival the Best Director Award, Silver Lion, Grammy awards, Emmys, Golden Globes, BAFTAs and DGA awards. He has directed many landmark movies and has a great name today in the world of Hollywood industry. WORD COUNT – 121 Abstract Jordan repeatedly said, “There’s no nobility in poverty” (Scorsese, M. (Director). (12/25/2013). The Wolf of Wall Street [Motion picture on DVD]. United States of America: Paramount Pictures); the research is bout a young aspiring entrepreneur Jordan Belfort and about his lifestyle, convergence in the lifestyle, ethics, business culture, addictions...
Words: 1746 - Pages: 7
...BSBFIM601A Manage Finances Student Guide Hospitality SIT60313 Advanced Diploma of Hospitality Student Id: Student Name: ASSESSMENT 1 - Project Total Assessment 1 length should be 800 - 1500 words. You must accurately reference all of your external sources of information You must complete your answers in spaces provided in this Student Guide TASK You will need to write a report outlining the following: * What methods would you use to plan for financial management including: * What you would analyse in order to find information on previous profit/loss? * How would investigate the reasons for previous profit/loss? * How would you analyse identify future expenses etc…? * How would you analyse cash flow trends? * What requirements might you have in relation to taxation? * What types of software might you need for financial management? * Then discuss the steps involved in creating a budget: * Then you will need to discuss the methods you will use to implement a budget including: * Circulation methods * Risk management * Review methods * Contingencies * Tracking * Compliance and statutory requirements * Identifying types discrepancies ANSWER SHEET (Expandable) Financial managementFinancial management is broadly concerned with the acquisition and use of funds by a business firm. In other words, FM is planning, directing, monitoring, organizing, and controlling of the monetary resources...
Words: 3054 - Pages: 13
...of controversial patents against competitors, attempts to prevent discounted direct selling by publishers, and a declared intention to cease working with third-party print on demand services in favour of its own. Questions have been raised concerning the company's legal compliance. In 2002, Amazon faced a challenge to the legitimacy of their Canadian operations, although that case was subsequently dropped. A 2009 ruling in Japan found that the company, which had tried to avoid paying corporate tax in the country, was in fact liable to pay. Controversy over taxation has arisen on multiple occasions: It was reported in 2012 that Amazon is under investigation in the UK, while in the US the company has attracted criticism for only collecting sales tax from customers in five states. Compounding these problems, there have been reports of poor treatment of workers, with allegations of summary dismissals for health problems and anti-unionization tactics including mass layoffs. Some controversies have centered around content. The bookstore has carried titles such as The Pedophile's Guide to Love and Pleasure and cock-fighting magazine The Game Cock, which has attracted condemnation and even legal action from various organisations. Amazon and others have cited freedom of speech as justification for stocking controversial work. In contrast however, there have been reports of potential censorship, where material in fields such as feminism and sexual identity has been flagged as "adult content"...
Words: 4216 - Pages: 17
...Resources. Data Stewards: Deans, vice chancellors, assistant vice chancellors, directors, managers or others as identified by the data trustees to manage a subset of data. Data Processor: Any individuals who have been authorized by a data steward to create, remove, or modify data. B. College data types The assessment criteria for the following classifications were derived from the National Institute of Standards and Technology (NIST) 1 in “NIST SP800-60: Guide for Mapping Types of Information and Information Systems to Security Categories”. These classifications are intended for internal College use and are not intended to be determinative regarding any request for documents made pursuant to Arizona’s public records laws. Public: This type of information can be...
Words: 1075 - Pages: 5
...these adults simply wanted an energy boost – not an entire drink. Therefore, they made 5-Hour Energy shots 2 ounces, setting the precedent for the entire energy shot sector. They knew that traditional energy drinks caused the users the eventually crash, so the company abstained from adding sugar or excess caffeine. Lastly, they knew that their target market would not be browsing refrigerators for energy drinks, so they created a display that could be placed on counters (Zmuda, 2009). Understand their target market played an integral role in 5-Hour Energy’s lasting success, and they created messages that effectively communicated all of these advantages to their audience. Even while most energy shot brands still get a majority of their sales from teens, 5-Hour Energy appeals to an older generation. Carl Sperber, the creative director of Living Essentials, says, “I think the message we’ve managed to create has really worked to capture those...
Words: 1803 - Pages: 8
