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The abolition of criminal and civil liability under the law of England and Wales for maintenance and champerty shall not affect any rule of that law as to the cases in which a contract is to be treated as contrary to public policy or otherwise illegal. —
In accounting, contingent liabilities are liabilities that may be incurred by an entity depending on the outcome of an uncertain future event [1] such as the outcome of a pending lawsuit. These liabilities are not recorded in a company's accounts and shown in the balance sheet when both probable and reasonably estimable as 'contingency' or ...
IAS 37 establishes the definition of a provision as a "liability of uncertain timing or amount", and requires that all the following conditions be fulfilled before a provision can be recognized: the entity currently has a liability as a result of a past event; an outflow of resources is likely to be needed to settle the liability; and
(The Center Square) – President-elect Donald Trump, who is set to take office Monday, has made a series of promises of major executive actions on “day one” in office. One of the simplest and ...
A contingent contract is an agreement that states which actions under certain conditions will result in specific outcomes. [1] Contingent contracts usually occur when negotiating parties fail to reach an agreement. The contract is characterized as "contingent" because the terms are not final and are based on certain events or conditions ...
Melania Trump directly commented for the first time about whether she will be joining President-elect Donald Trump in the White House full-time during his second term.. In an interview with Fox ...
Coffee drinkers may want to think twice before having large doses of caffeine several hours before bed — if they want a good night's sleep. A new study suggests that certain doses of caffeine ...
The company accepted there was a contingent or prospective liability, but argued the debt was not presently due. At the first instance Mr Gregory accepted that there was a dispute about when the debt was due, and insofar as the debt was contingent, that the contingency might never happen at all.