Search results
Results from the WOW.Com Content Network
A bailment relationship between the bailor and bailee is generally less formal than a fiduciary relationship. [3] In addition, unlike a lease or rental, where ownership remains with the lessor but the lessee is allowed to use the property, the bailee is generally not entitled to the use of the property while it is in his possession. However, a ...
The case overturned the then leading case in the law of bailments, Southcote's Case (1601), which held that a general bailee was strictly liable for any damage or loss to the goods in his possession (e.g., even if the goods were stolen from him by force). Under the ruling in Coggs v Bernard, a general bailee was only liable if he had been ...
Contingent and prospective liabilities refer to liability of a company that arise when an event takes place (e.g., defined as a contingency under a surety contract) or liabilities that may arise in future (e.g., probable claims by tort victims). The method for computing assets and liabilities depends on accountancy practice.
An assignment does not necessarily have to be made in writing; however, the assignment agreement must show an intent to transfer rights. The effect of a valid assignment is to extinguish privity (in other words, contractual relationship, including right to sue) between the assignor and the third-party obligor and create privity between the obligor and the assignee.
Asset and liability management (often abbreviated ALM) is the term covering tools and techniques used by a bank or other corporate to minimise exposure to market risk and liquidity risk through holding the optimum combination of assets and liabilities. [1]
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
In law, breaking bulk is the act of removing something from a package or parcel, or in any way destroying its entirety. It was thus important in connection with the subject of bailment, involving as it did the curious distinction that where a bailee received possession of goods in a box or package, and then sold them as a whole, he was guilty only of a breach of trust, but if he "broke bulk ...
Bailee Madison, most recently seen as the lead in the Netflix musical “A Week Away,” isn’t saving her singing strictly for the odd screen appearance. She’s moving full-on into it off ...