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Korolek [52]
3 years ago
8

Law is a practical discipline; theory has no place in law. With specific references to the Law of Contract, discuss. The APA ref

erencing style. MUST be used
Word Limit 800
Business
1 answer:
RoseWind [281]3 years ago
8 0

Answer:

Following are the responses to the given question.

Explanation:

In this question,  I would have to claim the contrary. Most laws were drafted by attorneys or judges, etc. These individuals utilized legal philosophy to justify or justify the bills which we presented. Instances are indeed the criminal code: Why then is insanity defending several crimes?? As a rule, criminal culpability can be granted if there is a criminal view. The theory for insanity as an excuse is that he had no power or just didn't need to do the crime, but he did the crime without a convict. Its logic leads lawmakers and make allowances, for instance, insanity, of criminal liability.

Moreover, because courts are subjective, judgments are dependent on various legal arguments. An instance: Which concept would the Court decide when the nature of a contractual has been in dispute? There is indeed a widely cited case in Israel wherein the courts chose the extremely intrusive adaptive paradigm — courts based the judgments on doctrines of laws that favored justice so over privity of association. I also heard a few oral statements both from judges as well as the board, and also have drawn examples such which I have given up beyond prejudice. Contract terms also have their very own laws of construction and interpretation.

And when a discrepancy arises regarding the agreements' vocabulary we do not use theory but use the terms of rational thinking to decide whatever the agreement means. An important precedent based on the legal principle has been determined here (most precedents are identical). Nonetheless, inside the field in the law of contract, I guarantee theory. In addition to assessing the violation of the contract or not, also there are conflicting views on whether an occurrence leads to a breach (or it may not) of intentions.

As for myself, I was only hoping how an adverse usage case would've been filed over a rather long time with no refund of the copyright or royalty to get a patented or permitted content used by the claimant without the applicant's consent.

In the daily lives that law as a profession has many requirements. The law of contract throughout particular, the acts of people have come every day in much of the day. Element is indeed a relationship between two people that are legally enforced The principle of a valid contract, consideration, contractual capabilities, minor contract capacities, etc. is commonly applied in everyday life Personally, I was only hoping that an unfair use lawsuit would be lodged over a very long time without any reimbursement of both the license and royalty to get a patented or licensed material used by the claimant without applicant's permission.

In the daily lives, the profession as a profession has many criteria. The law of contract, in particular, the acts with people come daily throughout much of the day. A contract is a contract between two people that's also enforced by law The principle of a valid contract, consideration, contract capacities, minor contractual capabilities, etc. is widely applied in daily life This agreement is unique to the duties, at least in its traditional form, of the commitments, or contingent ones, which are the duties laid down by the parties' wishes. This article discusses its doctrinal and theoretical accounts of contract law, with particular emphasis on slavery and antitrust, contract law as well as the partnership between two neighbors. Law is a complicated field because the type of hard is a science linked to such professions, areas, or professions. Each profession or job does have its legislation. The Law LinkedIn profile and all of their measures and practices.

Justice is a philosophy of action, since it must be enforced, regardless of what it is (Justice) there are many other exceptions. In an example, if anything takes place in a contract it has to be made in line with the regulations to use LAW OF CONTRACT as just a particular reference.

Following are the complete conclusion to the given question:

As short as they are, these comparisons can only provide some idea of how law studies can play a key role in many other university disciplines, as just a scientific subject. More maybe than for any physics research, legal scholars get a range of basic methods at the fingertips, regardless of whether that known as the core study of knowledge in its initial Platonic or Stoic frameworks. Aware of these different methods would enable them to interact with other areas, so in other fields of study, the law can be learned more effectively.

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Answer:

lower the cost of producing gasoline and increase the supply of gasoline 

Explanation:

Crude oil is an input needed in the production of gasoline. If the price of crude oil falls, it would become cheaper to make gasoline and therefore the supply of gasoline would increase.

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3 years ago
Indicate whether the above items should be disclosed (A) in the summary of significant accounting policies note, (B) in a separa
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Answer:

(A) in the summary of significant accounting policies.

Explanation:

It has the company's financial statements and also describes the key policies that are being followed by the accounting department. This policy summary is mandated by the accounting framework like IFRS or GAAP.

6 0
3 years ago
The 2021 income statement of Adrian Express reports sales of $20,710,000, cost of goods sold of $12,600,000, and net income of $
Verizon [17]

Answer:

Adrian Express

1. Five Profitability Ratios:

Gross profit ratio: = 39.2%

Return on assets = 20%

Profit margin = 9.6%

Asset turnover = 2.1 times

Return on equity = 37.4%

2. I think the company is:

Less profitable

than the industry average.

Explanation:

a) Data and Calculations:

Sales Revenue        $20,710,000

Cost of goods sold $12,600,000

Gross profit                $8,110,000

Net income               $1,980,000

ADRIAN EXPRESS

Balance Sheets

December 31, 2021 and 2020

                                                                          2021                  2020

Assets

Current assets:

Cash                                                              $840,000            $930,000

Accounts receivable                                     1,775,000            1,205,000

Inventory                                                      2,245,000            1,675,000

Current assets                                          $4,860,000          $3,810,000

Long-term assets                                        5,040,000            4,410,000

Total assets                                             $ 9,900,000         $8,220,000

Liabilities and Stockholders' Equity

Current liabilities                                     $ 2,074,000          $1,844,000

Long-term liabilities                                   2,526,000           2,584,000

Common stock                                          2,075,000           2,005,000

Retained earnings                                    3,225,000             1,787,000

Total Equity                                               5,300,000           3,792,000

Total liabilities & stockholders' equity   $9,900,000         $8,220,000

Industry averages for the following profitability ratios are as follows:

Gross profit ratio 45 %

Return on assets 25 %

Profit margin 15 %

Asset turnover 8.5 times

Return on equity 35 %

Gross profit ratio: = Gross profit/Sales * 100

= $8,110,000/$20,710,000 * 100

= 39.2%

Return on assets = Net income/Assets * 100

= $1,980,000/$9,900,000 * 100

= 20%

Profit margin = Net Income/Sales * 100

= $1,980,000/$20,710,000 * 100

= 9.6%

Asset turnover = Sales/Total Assets

= $20,710,000/$9,900,000 = 2.1 times

Return on equity = Net Income/Total Equity * 100

= $1,980,000/$5,300,000 * 100

= 37.4%

6 0
3 years ago
Equestrain Roads accepted a customer's $50,000 zero-interest-bearing six-month note payable in a sales transaction. The product
babunello [35]

Answer:

$4,000

Explanation:

The difference between the face value of note and the issuance value of the note is discount. This discount is recorded and amortized over the note life to maturity. As the note is for 6 months and There are also six months from June 30, to December 31. So, all the Discount of $4,000 ($50,000-$46,000)  will be recognized as Interest Income. This discount can be amortized and recognized as Interest Income on monthly basis or collectively at the year end.

3 0
2 years ago
Required information The Foundational 15 [LO6-1, LO6-2, LO6-3, LO6-4, LO6-5] [The following information applies to the questions
Vsevolod [243]

Answer:

Results are below.

Explanation:

<u>The absorption costing </u>method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

<u>The variable costing method</u> incorporates all variable production costs (direct material, direct labor, and variable overhead).

<u>Variable costing income statement:</u>

Total unitary variable production cost= (24 + 16 + 2 + 3)= $45

Sales= 73*51,000= 3,723,000

Total variable cost= 51,000*45= (2,295,000)

Contribution margin= 1,428,000

Fixed manufacturing overhead= (784,000)

Fixed selling and administrative expense= (672,000)

Net operating income= (28,000)

<u>Absorption costing income statement:</u>

Unitary production cost= (24 + 16 + 2) + (784,000/56,000)

Unitary production cost= $56

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COGS= 51,000*56= (2,856,000)

Gross profit= 867,000

Total selling and administrative= 672,000 + 3*51,000= (825,000)

Net operating income= 42,000

<u>The difference between both methods is the fixed manufacturing overhead allocated in ending inventory.</u>

6 0
3 years ago
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