STRICT AND ABSOLUTE LIABILITY THE CONCEPT OF STRICT LIABILITY There are many activities which are so dangerous that they constitute constant danger to person and property to others. The law may deal with them in two ways. It may prohibit them altogether. It may allow them to be carried on for the sake of social utility but only in accordance with statutory provisions laying down safety measures and providing for sanctions for non-compliance through the doctrine of strict liability. The undertakers
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TERM PAPER ON STRATEGIC ANALYSIS OF AGRICULTURAL MARKETING COMPANY LTD Date: April 4, 2011 Letter of Transmittal April 4, 2011 ______________________ ______________________ ______________________ ______________________ Subject: Term Paper on Strategic Analysis of Agricultural Marketing Company Ltd. Dear Sir, It is our great pleasure to submit the Case Study on Blockbuster’s Challenges in the Video Rental Industry which is a part of the course Strategic Management
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and 13 1. Type of damages: compensatory, punitive etc. Compensatory damages are used to compensate or reimburse a plaintiff for actual losses. The goal is to put him in the same position that he would have been if the tort had not occurred. The compensatory damages are generally broken down into special damages and general damages. Special damages compensate the plaintiff for quantifiable monetary losses (medical expenses, lost wages).General damages compensate individuals (not companies) for the
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to survive. Financial institutions give firms access to the money they need to grow. However, greed can drive financial managers and institutions to commit actions that get them into trouble and even force bankruptcy. These bankruptcies result in limited capital flows to firms, and both they and the whole economy can suffer. Therefore, financial institutions and markets should be well regulated. The final section covers a discussion of the impact of taxation on the firm’s financial activities. ( Suggested
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CHAPTER 1 INTRODUCTION TO TAXATION SOLUTIONS TO PROBLEM MATERIALS | | | | | Status: | Q/P | |Question/ |Learning | | | Present |in Prior | |Problem |Objective |Topic | | Edition
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person who has authorized another to act on his account and subject to his control." • Agent. "'Agent' is a word used to describe a person authorized by another to act on his account and under his contro1. • Source: Restatement of Agency. Section 1. comments c and d. A.P. Smith Mfg. Co. v. Barlow • The board of directors voted to contribute $1,500 to Princeton University on the recommendation of the corporation's president. Hugh O'Brien. Some shareholders objected. • The corporation brought
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OF FIRST SECURITY ISLAMI BANK LIMTED FOR THE YEAR ENDER 31 DECEMEBER 2011 AUDITORS’ REPORT First Security Islami Bank Limited We have audited the accompanying consolidated financial statements of First Security Islami Bank Limited (FSIBL) and its subsidiary as well as the financial statements of First Security Islami Bank Limited (FSIBL) which comprise the balance sheet as at 31 December 2011 and the income statement, cash flow statement, statement of changes in equity
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possible avenue could be reduction in stock holding days. There is room to improve the collection period further without affecting sales levels, as has been the case with other industry players. The interest cover has been depleted to slightly over 1 in the year, any further decline could tilt the company into losses. Possibly the company could request the shareholders to buy off the loan by injecting more capital, or issue equity to the financiers. These decisions would need to be weighed carefully
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Mini Case Assume that you recently graduated and have just reported to work as an investment advisor at the brokerage firm of Balik and Kiefer Inc. One of the firm’s clients is Michelle DellaTorre, a professional tennis player who has just come to the United States from Chile. DellaTorre is a highly ranked tennis player who would like to start a company to produce and market apparel she designs. She also expects to invest substantial amounts of money through Balik and Kiefer. DellaTorre is very
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informal views from both the Financial Accounting Standards Board (“FASB”) and the Securities and Exchange Commission (“SEC”) on the appropriate accounting for emissions allowances held, especially since EITF 03-14 was tabled. As a consequence, many companies remain confused about the appropriate accounting treatments under both International Financial Reporting Standards (“IFRS”) and generally accepted accounting principles in the United States (“US GAAP”). This article considers the story to date, current
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