Give examples of obligations or contracts which are contrary to public policy.

Q: Describe how monies received by an organization functioning as an agent, trustee, or intermediary,…

A: Contribution: The term "contribution" refers to an act or money made for a specific cause. It is a…

Q: A tort is a basis for a action O criminal O criminal or civil

A: Tort refers to the wrong doing which is in legal form, where the one person commits wrong against…

Q: Determine whether the statement is legally correct (true) or not (false).  Even where the contract…

A: The business can be run by the individual in the form of sole proprietorship, or it can be run as a…

Q: What is the requirement on Federal Truth-in-Lending (FTL)?

A: Following are the requirements of Federal Truth-in-Lending (FTL):   The financial data: The plan of…

Q: Explain the purpose of damages as a remedy for breach of contract in our law. Also explain how…

A: The purpose of contract remedies is, for the most part, to compensate the non-breaching party for…

Q: Defihe and explain -An agreement that violate statute - An agreement that violate public policy…

A:

Q: Why would the existence of conditions subsequent and precedent affect the discharge of a contract?

A: A contract is an agreement between more than one person to perform the duties mentioned in the…

Q: Explain the role of Anticipatory Breach of Contract in non-performance of contract. Briefly state…

A: A financial contract is an independently agreed agreement, contract, or sale, purchase, exchange,…

Q: Which of the following statements is true regarding contracts in ASC Topic 606 guidance for revenue…

A: As per ASC 606, A contract is an agreement between two or more parties that creates enforceable…

Q: Who may institute action for annulment of voidable contracts? Briefly discuss.

A: Contract Act- The Indian Contract Act of 1872 lays out the groundwork for forming a legally binding…

Q: Explain restricted voting rights

A: There are certain rights given to shareholders of common stock in the company where voting right is…

Q: Do you agree that contract should be interpreted based on an objective assessment of the parties…

A: In 2014, the Supreme Court of North American nation rendered 2 choices concerning the law of…

Q: What is civil law, and what does it accomplish? What are the primary examples of public law?

A: Civil law is a subpart of law. Civil law is a legal system built upon Corpus Juris Civilis, the…

Q: The federal government is required to recognize liabilities from nonexchange transactions     When…

A: Liabilities refer to the obligations that are required to fulfilled in the future by the business.

Q: What factors must be considered in determining whether or not to record a liability for pending…

A:

Q: Give examples of obligations or contracts which are contrary to law .

A: The contract is an agreement forming a relationship between two parties in such a way that if any of…

Q: Discuss the effects of ratification in voidable contracts

A: A contract that contains one or both of these flaws can nonetheless be regarded legally binding if…

Q: Determine whether a contract exists, and whether some frequently encounteredfeatures of contracts…

A: A contract exists when it has commercial substance and all parties to the contract are committed to…

Q: The Merritt Committee Investigation looked into solutions for dealing with:

A: The Merritt Committee Investigation was done in the year 1910 and this followed the Armstrong…

Q: As a rule, when an obligation is subject to a condition, it is constituted the moment the condition…

A: The given statement is True... As a rule, when an obligation is subject to a condition, it is…

Q: Are monetary obligations under a contract of surety intransmissible by their nature, by stipulation,…

A: Contract of surety relates to the contract of guarantee a contract is to perform the promise or…

Q: What are property, rights and contract enforcement in rationale for government intervention?

A: The government generally assigns the property rights for the properties when they are exclusively…

Q: I. A provision is a present obligation which may either be legal or constructive. II. Even if a…

A: As per IAS 37 Provisions, Contingent Liabilities and Contingent Assets, A provision is a present…

Q: Give examples of obligations or contracts which are contrary to good custom.

A: Ethics implies the arrangement of rules that the association ought to follow. While in business,…

Q: What is law of Indemnity? Explain the rights and duties of indemnifier and indemnity holder with…

A: The law of indemnity specifies that a person takes the guarantee of any act of the party that causes…

Q: In explaining the meaning of obligation in the definition of a liability, the Conceptual Framework…

A: when a liability arises to pay the amount than obligations will arise.

Q: What exceptions are there to contracts that normally require a writing to be enforceable?

A: It is being written under the law that all agreement which are in writing could only be enforceable…

Q: arbanes Oxley been an effective piece of le

A: Yes, even if the results aren’t staggering and as relevant because the act hoped for, the act has…

Q: Explain the Nonrecourse clause?

A: A sum of money that an individual or company owes is called liability. It is an obligation between…

Q: Which of the following is not a secondary mode of extinguishing obligations? * Changing the object…

A: Primary obligations is prescription Which means time limit to sue in the court of law.  prescription…

Q: Which of the following mistakes that does NOT render an agreement defective?

A: The Agreement would be defective under following condition: 1. The Subject matter of the contract…

Q: What is the meaning of “counter-offer” in relation to the law of contract?

A: Counter Offer is a type of offer given in response of original offer.

Q: What are the problems of an insurance industry that are primarily regulated at the state level?

A: Insurance industry refers to the market where insurance companies play an active part in providing…

Q: Discuss the contract according to its enforceability?

A: In basic terms, a contract implies when two gatherings put into composing an understanding that…

Q: How might exclusion clauses be found to be unenforceable?

A: Exclusion clause is defined as the term of contract that looks for restricting or excluding the…

Q: Which of the following is not a condition in identifying the contract with the customer as per IFRS…

A: IFRS 15 establishea the principles that an entity applies when reporting information avout the…

Q: Explain how to Determining Whether a Contract Exists for Revenue Recognition Purposes.

A:

Q: Which of the following is also called a "liability waiver"? confidentiality clause noncompete…

A: An obligation or a liability is something an individual or organization owes, it usually includes…

Q: In defamation law,

A: Defamation, a term in law, refers to the act of communicating something false to a third party about…

Q: The relationship between a banker and its customers are not only fiduciary in nature but contractual…

A: A bank may be a financial organization that's allowed to simply accept deposits and supply loans.…

Q: In a "mixed contract," one involving both the dale of goods and services, does the UCC apply or does…

A: Contract is referred as the legal enforceable agreement, which defines, creates, and also governs…