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Calculating the impairment cost is the same as under the Incurred Loss Model. For example, assume a company has an investment in Company A bonds with a carrying amount of $37,500. If their market value falls to $33,000, an impairment loss of $4,500 is indicated and the impairment cost calculated as follows:
The kind of contract modification performed by the law in question was arguably similar to the kind that the Framers intended to prohibit, but the Supreme Court held that this law was a valid exercise of the state's police power, and that the temporary nature of the contract modification and the emergency of the situation justified the law. [21]
Chartbrook Ltd v Persimmon Homes Ltd [2009] UKHL 38 is an English contract law case concerning interpretation of contracts.It creates a so-called "red ink" rule, that there is no limit to verbal rearrangement that the court may deploy to give a commercial sensible meaning when construing a contract in its bargaining context.
Capital impairment is the case when the company lost its asset, so the asset is lower than the stock of a company. One way to avoid capital impairment is reduction of capital without any compensation.
There must be an occurrence of a condition, the nonoccurrence of which was a basic assumption of the contract, The occurrence must make performance extremely expensive or difficult This difficulty was not anticipated by the parties to the contract (note: some jurisdictions require that there be no measure within the contract itself to allocate ...
Assumpsit ("he has undertaken", from Latin, assumere), [1] or more fully, action in assumpsit, was a form of action at common law used to enforce what are now called obligations arising in tort and contract; and in some common law jurisdictions, unjust enrichment.
whether terms are implied into the contract; what controls are placed on unfair terms; The terms of a contract are the essence of a contract, and tell the reader what the contract will do. For instance, the price of a good, the time of its promised delivery and the description of the good will all be terms of the contract.
Where a contract or term is voidable, the party entitled to avoid may either conditionally or unconditionally choose to affirm the contract or term as outlined in Article 3.2.9 of the Principles which states that "if the party entitled to avoid the contract expressly or impliedly confirms the contract after the period of time for giving notice ...