1.Principal Debt: The main objective of guarantee is to ensure payment of the loan amount, so there must exist a debt. Hence it is the nucleus of the contract of guarantee that someone must be liable for the payment of debt and surety commits to fulfill the liability when the former defa...
Types of Parties to a Contract Identifying Parties to a Contract Contracting Party Examples Lesson Summary Frequently Asked Questions Can there be three parties to a contract? There can be three parties to a contract. An example of such is a contract of guarantee. The three parties in this ...
Understanding the relationship between guarantee conditions and external auditing is crucial for the improvement of debt contract efficiency and maximization of enterprise value. With non-listed enterprises in the Chinese bond market from 2008 to 2013 as the study sample, this paper investigates the ...
Since customizing a contract for every possible services engagement (many of which are different from each other) would be unwieldy, companies in the services industry often break their contracts into two parts: a master services agreement (MSA) and one or more statements of work (SOW). ...
debt contract to adopt. Extant researches focus on the respective role of guarantee and external auditing in alleviating agency conflict between the shareholders and creditors. For example, Hsueh and Kidwell (1988) analyse the Texas School Bond Guarantee programme and its impact on the borrowing cost...
An excellent example of an implied warranty of merchantability is when a seller sells hotdogs in the streets of a city. The sale implies that the hot dogs are ready for consumption, implying a warranty if a buyer finds that they are not. What is a warranty? A warranty is a guarantee by...
Interfaces are reference types that other types implement to guarantee that they support certain methods. An interface is never directly created and has no actual representation -- other types must be converted to an interface type. An interface defines a contract. A class or structure that impleme...
Such type of a contract is called a contingent guarantee contract. Anindemnity contractworks in a slightly different way. For instance, imagine there’s a supplier obliged to deliver a product to the customer. In case the supplier fails to deliver the product, the indemnifier (compensator, whi...
Since customizing a contract for every possible services engagement (many of which are different from each other) would be unwieldy, companies in the services industry often break their contracts into two parts: a master services agreement (MSA) and one or more statements of work (SOW). The ex...
Interfaces are reference types that other types implement to guarantee that they support certain methods. An interface is never directly created and has no actual representation -- other types must be converted to an interface type. An interface defines a contract. A class or structure that ...