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Parties cannot contract out of the Act's provisions. However, it is possible to oust the statutory interest requirements, and hence of the compensation provisions, if the contract provides a substantial remedy for late payment, sufficient either for the purpose of compensating the supplier for late payment or for deterring late payment. The ...
According to Cross, "Interpretation is the process by which the courts determine the meaning of a statutory provision for the purpose of applying it to the situation before them", [6] while Salmond calls it "the process by which the courts seek to ascertain the meaning of the legislature through the medium of authoritative forms in which it is ...
A Law Reference Collection, 2011, ISBN 1624680003 and ISBN 978-1-62468-000-7; Trinxet, Salvador. Trinxet Reverse Dictionary of Legal Abbreviations and Acronyms, 2011, ISBN 1624680011 and ISBN 978-1-62468-001-4. Raistrick, Donald. Index to Legal Citations and Abbreviations. 3rd ed. London: Sweet & Maxwell, 2008. This book focuses more on British ...
Legal Bill Review (LBR) refers to process of reviewing and analyzing legal bills against any billing guidelines, service level agreements, applicable laws and other generally accepted standards. LBR plays a vital role in litigation spend management through the review and analysis of law firm invoices.
The purposive approach (sometimes referred to as purposivism, [1] purposive construction, [2] purposive interpretation, [3] or the modern principle in construction) [4] is an approach to statutory and constitutional interpretation under which common law courts interpret an enactment (a statute, part of a statute, or a clause of a constitution) within the context of the law's purpose.
A take-or-pay contract, or a take-or-pay clause within a contract, is a payment obligation agreed between a business customer and its supplier.With this kind of contract, the customer either takes the product from the supplier or pays the supplier a penalty.
If CPAs fail to modify the audit report on financial statements that are materially misstated, investors and firm creditors may experience substantial losses. Depending on the jurisdiction, CPAs may be liable for damages based upon common law, statutory law, or both. Common law liability arises from negligence, breach of contract, and fraud.
A statutory declaration is a legal document defined under the law of certain Commonwealth nations and in the United States. It is similar to a statement made under oath , but it is not sworn. Statutory declarations are commonly used to allow a person to declare something to be true for the purposes of satisfying some legal requirement or ...