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Novation, in contract law and business law, [1] is the act of – . replacing an obligation to perform with another obligation; or; adding an obligation to perform; or; replacing a party to an agreement with a new party.
For example, the responsibility of innkeepers creates obligations when certain things left by guests in the lodging are destroyed, damaged or lost by the innkeeper's assistants or employees. In this case, the innkeeper is responsible for the damages to the guest's property, even though he did not cause them personally.
The public sector, also called the state sector, is the part of the economy composed of both public services and public enterprises. Public sectors include the public goods and governmental services such as the military , law enforcement , public infrastructure , public transit , public education , along with public health care and those ...
A joint powers authority (JPA) is an entity permitted under the laws of some U.S. states, whereby two or more public authorities (e.g. local governments, or utility or transport districts), not necessarily located in the same state, may jointly exercise any power common to all of them. Joint powers authorities may be used where:
A public company [a] is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listed company), which facilitates the trade of shares, or not (unlisted public company).
The distinction between public and private law was first made by Roman jurist Ulpian, who argues in the Institutes (in a passage preserved by Justinian in the Digest) that "[p]ublic law is that which respects the establishment of the Roman commonwealth, private that which respects individuals' interests, some matters being of public and others of private interest."
An example of a statutory corporation is a Kassenärztliche Vereinigung, a body involved in the provision of out-patient medical services in a German state. Other examples include public broadcasters, Jewish communities and Christian churches established in Germany and some public transport providers (depending on jurisdiction).
Child maintenance is paid directly or indirectly by an obligor to an obligee for the care and support of children of a relationship that has been terminated, or in some cases never existed. Often the obligor is a non-custodial parent. The obligee is typically a custodial parent, a caregiver, or a guardian.