(Prelim-Midterm) Chapter 1- General Provisions Art. 1156-1162 i – Definition of Obligation ii – Sources of Obligation Chapter 2 – Nature and Effect of Obligation – Art. 1163-1178 - Obligations of Debtor - Rights of Creditor - Breaches of Obligation - Liabilities of Debtor - Remedies of Creditor - Transmissibility of Obligation Chapter 3 – Different Kinds of Obligations Art. 1179-1230 Section 1‚ Pure and Conditional Obligation (Art. 1179-1192) Section 2‚ Obligation with a Period (Art
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INTRODUCTION WORKING CAPITAL MANAGEMENT 1. Introduction 2. Need of working capital 3. Gross working capital 4. Net working capital 5. Determinants of working capital Working capital management Working capital management is concerned with the problems arise in attempting to manage the current assets‚the current liabilities and the inter relationship that exist between them. The term current assets refers to those assets which inordinary course of business can be‚or
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Obligations CHAPTER 1 Article 1156. An obligation is a juridical necessity to give‚ to do or not to do. Comment: (1) Elements of a obligation (a) Active subject (oblige or creditor) – person who has the right in the fulfillment of the obligation.(Paras‚ Civil Code) (b) Passive subject (obligor or debtor) – person who has the duty or obligation to do‚ to give or not to do.(ibid) (c) Prestation or Object – it is the subject matter of the obligation. (ibid) (d) Efficient cause
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asking the court to discharge their debt. The basic idea in Chapter 7 bankruptcy is to wipe out one ’s debt. It does not involve the filing of a plan of repayment. There is no property which is non exempt that one can sell to pay creditors; all unsecured creditors are paid nothing. On October 17‚ 2005‚ the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 make it difficult for one to file Chapter 7 Bankruptcy. One may not file bankruptcy
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” (765 ILCS 1005/1c). CAN LAND HELD IN TENANCY BY THE ENTIRETY BE REACHED BY A JUDGMENT CREDITOR? ANSWER: Yes‚ if the sole intent of the transfer was to avoid payments existing at the time of the transfer beyond the transferor’s ability to pay those debts as they became due. The Illinois Code of Civil Procedure states that property held in tenancy by the entirety may be reached by a judgment creditor in very limited circumstances: Any real property‚ any beneficial interest in a land trust
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meant to be a gift. Both sons signed a non-interest bearing demand note with no collateral and a stated maturity date. The legal argument was whether or not this was a bona fide creditor-debtor relationship with a real expectation for repayment and an intention to enforce the debt. In order to be considered a creditor-debtor relationship‚ certain criteria apply. These criteria include a promissory note being signed‚ interest charged‚ security or collateral‚ a fixed maturity date‚ demand for repayment
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INTERPRETATION OF FINANCIAL STATEMENTS Ways of interpreting financial statements - Using individual items contained in financial statement. - Using ratios computed from items contained in Financial Statement (Ratio analysis) Reasons for interpreting accounts Accounts have to be analyzed and interpreted for the following logical points (1) Evaluation of the trading performance of a firm in order to have a measure of the quality of management running it. (2) Appraisal and monitoring
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Forms of breach of contract and the remedies that can be used. Table of contents: Introduction Contracts as a whole Forms of breach of contracts Remedies Introduction: As long as human kind can remember contracts has been in the existence. Goods were exchanged in order to survive. Therefore a contract can be described as an agreement between two (or more) people where one person offers to do something and another person accepts that offer. So when someone agrees to sell and
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receivables. Debtor Days was changed from 2010 to 2013. Obviously‚ the data has significantly increased in 2013. Compare the Average Trade Receivables and sales revenue between 2011 and 2012‚ it has increase 18.8% and 13%. However‚ the growth rate of sales revenue is smoothly. So this is key factor which result in Debtor Days was go up. This situation will lead to rising costs and operating passive. Compare with Super-Group‚ the debtor days is almost same. In the same industry‚ Debtor Days shorter
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RATIO ANALYSIS Meaning of Ratio:- A ratio is simple arithmetical expression of the relationship of one number to another. It may be defined as the indicated quotient of two mathematical expressions. According to Accountant’s Handbook by Wixon‚ Kell and Bedford‚ “a ratio is an expression of the quantitative relationship between two numbers”. Ratio Analysis:Ratio analysis is the process of determining and interpreting numerical relationship based on financial statements. It is the technique of
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