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Omission to do something which a reasonable man, guided by those ordinary considerations that ordinarily regulate human affairs, would do or doing of something that a reasonable and prudent man wouldn't do. Negligence is the failure to use such care as areasonably prudent and careful person will use under similar circumstances; it's the doing of some act that a person of ordinary prudence wouldn't have done under similar circumstances or failure to do what a person of ordinary prudence would have done under similar circumstances.
The term denotes only to that legal delinquency that results whenever a man fails to exhibit the care which he ought to exhibit, whether it be slight, ordinary or great. It's characterized chiefly by inadvertence, thoughtlessness, inattention, and like, while ‘wantonness' or ‘recklessness' is characterized by wilfulness. Law of negligence is founded on reasonable conduct or reasonable care under all circumstances of particular care. Doctrine of negligence rests on duty of each person to exercise due care in his conduct toward others from which injury may result.
Annulment of order The order may be annulled if In the opinion of the court the debtor ought not to have been adjudicated bankrupt; All the debts have been paid in fu
make journal entries required to dispose off over or under applied manufacturing overhead assuming it is allocated among work in process, finished goods and cost of goods sold ba
What are features of branch accounts?
what is the implication of applying accounting concept wrongly
POWERS OF INVESTMENT The trustees have a duty to obtain control of trust assets and to invest trust funds in authorised securities. The trustees may invest in such securities
explain the purpose and circumstances of using fair values in preparing consolidated financial statements
Q.2 Explain different methods of costing. Your answer should be studded with examples (preferably firm name and product) for each method of costing.
Dangers of over-reliance on trade credit In effect for the reason that trade credit represents temporary borrowing from suppliers until invoices are paid it becomes an importan
Q. Redemption of debt? Equity finance is permanent capital that doesn't need to be redeemed while debt finance will need to be redeemed at some future date. Redeeming a huge am
Assignments of book debts The trustee can set aside an assignment of existing or future book debts, whether absolute or by way of charge, unless the assignment was registered a
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