Answer:
NNP ; GNP
Explanation:
NNP stands for Net National Product and the full form of GNP is Gross National Product.
Net National product is the value of the total products which is obtained by deducting the monitory value of the goods depreciated over a course of time from the gross national income.
Thus, NNP = GNP - depreciation
Answer:
Fictitious payee rule
Explanation:
Fictitious payee rule applies when a person cause an instrument to be issued to a person(payee) who has no valid reason to receive the payment or no interest in the instrument, this ensure forgery of the payee's name will then be effective to pass the instrument to the transferees later as we can see in the case of Maria, she included the name of her maid for the purpose of using the check for herself and not for the sake of Carolyn
Answer:
Many kinds of federalism seek to establish checks and balances throughout society in order to ensure that the governing process is fair. It becomes more difficult for one division to take over the country when authority is distributed over numerous departments of government, as the United States does with the executive, legislative, and judicial branches.
Because under a federalist structure, communities can make their own rules (within reason), it becomes conceivable for particular demographic groupings to prioritize the wishes of the majority over the necessities of the entire community. Slavery and segregation remained a problem in the United States until the 1960s because of this framework. It was partly to blame for the 1800s divisions that finally led to the Civil War. When laws are delegated to local communities, there is always the risk that they may be misused at some point in the future.
Explanation:
Answer:
Promissory estoppel
Explanation:
If an oral contract has been declared unenforceable under the statute of frauds, yet one of the parties has rendered some performance under the contract that conferred benefits on the other party, he or she can recover the reasonable value of the performance in <u>promissory estoppel</u>.
The statute of fraud requires that contracts exceeding $500 in value, or involves the sale of landed property or extending a period of a year or more in length must be in writing and not oral. However, in a situation whereby a party has rendered some performance in the contract that confers benefits on the other party, the other party is obligated to also perform his/her part of the contract under the doctrine of promissory estoppel. The doctrine of promissory estoppel insist that an individual or party to a contract must perform his/her obligation or promise, even though there is not written proof of a contract as far as the other party has rendered some form of performance.
