that point are for the account of the seller. The buyer bears all costs and risks involved in taking the goods from the agreed point, if any, at the named place of delivery. EXW represents the minimum obligation for the seller. The rule should be used with care as: a) The seller has no obligation to the buyer to load the goods, even though in practice the seller may be in a better position to do so. If the seller does load the goods, it does so at the buyer’s risk and expense. In cases where the
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his own betterment, he did not intend on the horses dying before they were returned. Mr. Watts believed that he was still entitled to a reward from Mr. Ward. The court determined that while there was no reward offered, Mr. Watts still had an obligation to return the horses to the rightful owner, Mr. Ward. The court also determined that Mr. Watts had a duty to maintain the horses’ health while they were in his care. Since, the horses passed away, Mr. Watts was obligated to reimburse Mr. Ward for
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might become relevant to this matter. Some of this information may be in your possession or control, and as a Premier College employee, you have a legal duty to preserve that information. The purpose of this letter is to explain to you what that obligation means. A team of Investigators known as Cheaters has been charged to manage this situation. and has identified the following information as being potentially relevant to the dispute. All scantrons from 2004-2014, test booklets from these years
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Corporate Governance and Legal Responsibility Melanie Green Law, Ethics, and Corporate Governance (LEG 500) August 8, 2012 Corporate Governance and Legal Responsibility Research Paper Dr. DoRight is the President of the “Universal Human Care Hospital” where he has a responsibility to oversee all departments with over 5,000 employees and over 20,000 patients at the medical facility. Dr. DoRight has discovered that some patients within the hospital has been dying as a result
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represents organization, discipline, and control. Accountability becomes an obligation when you join the Army, it benefits every party involved. The importance of obligation with the Army. Your obligations given to you as a soldier are there to help you perform your duties, much like guidelines to success. Obligations within a workplace are there to benefit those associated within the environment, in this scenario obligation to report our location and actions being taken were there to help our leaders
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Famine, Affluence, and Morality Famine, Affluence, and Morality In this article Peter Singer’s goal is to shed light and bring awareness to the way people in the world are suffering due to poverty and natural disasters. He also explains how many people struggle to survive because they live below the poverty line, some on a dollar a day. Singer makes the point that we should be doing more to help those who are not in the position to help themselves. By using Bengal as an example
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With respect to contingent liabilities, the proposal suggests that current obligations are the only ones to consider when accounting for liabilities, which in themselves should be stated separately from the events which may dictate their occurrence. The uncertainty of the events themselves should also be disclosed, when presenting the measurements for the liability. Additionally, defining contingency with regard to the amount required to settle a liability rather than the probability of its occurrence
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act of giving control, authority, a job, a duty, etc., to another person. There are three basic elements of delegation: the assignment of duties, granting of authority to enable the subordinates to perform the duties assigned, and the creation of obligation on the part of subordinate to perform duties in an orderly manner. The process of delegation involves four steps. The first step is the assignment of duties to subordinates which entails the owner to decide exactly what duties he wants the subordinate
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To: Controller of LOI, Files From: Accounting Class Re: Recognition of Asset Retirement Obligations for Lack of Information Date: June 2, 2014 Background Lack of Information (LOI) owns and operates 50 warehouses throughout the country. As part of LOI’s efforts to identify potential asset retirement obligations, LOI’s internal audit group held interviews with all 50 of the warehouse managers and also performed site visits at each of the 50 locations. The related findings of the interviews and
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treatment of warranties, hopefully answering all of your questions. A warranty puts two obligations on the issuer; preparedness to perform and pay for agreed upon services (FASB 460-10-25-2). According to FASB 460-10-25-5 “because of the uncertainty surrounding claims that may be made under warranties, warranty obligations fall within the definition of a contingency.” This means that we accrue losses from warranty obligation that are considered “probable”. A. A lot of new literature has been published
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