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Pro rata is an adverb or adjective meaning in equal portions or in proportion. [1] The term is used in many legal and economic contexts. The hyphenated spelling pro-rata for the adjective form is common, as recommended for adjectives by some English-language style guides. In American English, this term has been vernacularized to prorated or pro ...
Eventually, the Philippine legal system emerged in such a way that while the practice of codification remained popular, the courts were not barred from invoking principles developed under the common law, [1] or from employing methods of statutory construction in order to arrive at an interpretation of the codal provisions that would be binding ...
This term is also often used in the lending area and in bankruptcy proceedings, where creditors are said to be paid pari passu, or each creditor is paid pro rata in accordance with the amount of his claim. Here its meaning is "equally and without preference". There have been cases where decisions were based on different interpretations of the ...
[12] [13] Another example is found in Brazil, where Article 254-A of Law No.6404 (inserted by Law No. 10303) mandates that the party purchasing a majority stake in a company must not offer the minority holder less than 20% of the price of the offer to the majority holder. [14] In India, the Supreme Court held in the decision of VB Rangaraj v.
Common area maintenance charges (CAM) are one of the net charges billed to tenants in a commercial triple net (NNN) lease, and are paid by tenants to the landlord of a commercial property. A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property
Illustration of the partial payout of Sum Insured against probability of occurrence. Condition of average (also called underinsurance [1] in the U.S., or principle of average, [2] subject to average, [3] or pro rata condition of average [4] in Commonwealth countries) is the insurance term used when calculating a payout against a claim where the policy undervalues the sum insured.
Tesla CEO Elon Musk has become the first person to top a net worth of $400 billion, according to Bloomberg News. Musk's wealth, which was last counted at $384 billion by the Bloomberg Billionaires ...
There are three typical calculation methods: pro-rate, or using a penalty method such as short period rate (old short rate), and short period rate (90% pro rata). The return premium is generally calculated using a wheel calculator, a type of circular slide rule or an online version. [ 1 ]