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To calculate the loss on residential property that was converted into a rental, prior to the sale of the property, Treasury Regulation section 1.165-9(2) states that the basis of the property will be the lesser of either the fair market value at the time of conversion or the adjusted basis determined under Treasury Regulation section 1.1011-1.
Lost volume seller is a legal term in the law of contracts. Such a seller is a special case in contract law.Ordinarily, a seller whose buyer breaches a contract and refuses to purchase the goods can recover from the breaching buyer only the difference between the contract price and the price for which the seller ultimately sells the goods to another buyer (plus, under some circumstances ...
However, the real estate contract can specify a different date when possession changes hands. Transfer of possession of a house, condominium, or building is usually accomplished by handing over the key(s) to it. The contract may have provisions in case the seller(s) hold over possession beyond the agreed date.
An eschar (/ ˈ ɛ s k ɑːr /; Greek: ἐσχάρᾱ, romanized: eskhara; Latin: eschara) is a slough [1] or piece of dead tissue that is cast off from the surface of the skin, particularly after a burn injury, but also seen in gangrene, ulcer, fungal infections, necrotizing spider bite wounds, tick bites associated with spotted fevers and exposure to cutaneous anthrax.
Judges may adjust excessive contract penalties, but such clauses are not generally void as a matter of French law. [19] Article 420-1 of the Civil Code of Japan provides an even firmer basis to uphold contractual penalties: [20] The parties may agree on the amount of the liquidated damages with respect to the failure to perform the obligation.
Unstageable: Full thickness tissue loss in which actual depth of the ulcer is completely obscured by slough (yellow, tan, gray, green or brown) and/or eschar (tan, brown or black) in the wound bed. Until enough slough and/or eschar is removed to expose the base of the wound, the true depth, and therefore stage, cannot be determined.
Risk of loss is a term used in the law of contracts to determine which party should bear the burden of risk for damage occurring to goods after the sale has been completed, but before delivery has occurred. Such considerations generally come into play after the contract is formed but before buyer receives goods, something bad happens.
Penetrating trauma is an open wound injury that occurs when an object pierces the skin and enters a tissue of the body, creating a deep but relatively narrow entry wound.In contrast, a blunt or non-penetrating trauma may have some deep damage, but the overlying skin is not necessarily broken and the wound is still closed to the outside environment.