International Trade Payment Methods
Balance of Payments
Current Account
The current account includes the trade balance (goods and services), income balance, and current transfers.
Capital Account
The capital account encompasses capital transfers and acquisitions/disposals of non-produced, non-financial assets.
Financial Account
The financial account covers direct investments, portfolio investments, other investments, and reserve assets.
Incoterms
- EXW (Ex Works): Seller makes goods available at their premises; buyer assumes all transportation
Understanding Debentures: Types, Characteristics, and Key Features
Understanding Debentures
What is a Debenture?
Definition of Debentures
Legal Interpretation and Integration: A Comprehensive Guide
ITEM 6. APPLICATION, INTERPRETATION, AND INTEGRATION OF RULES
1. The Application of Standards and Activity
Applying a rule to a particular case is fundamental to the legal system. Rules serve a social function, and applying them involves two key activities:
- Establishing the facts of the case.
- Selecting the appropriate legal standard to apply.
2. Legal Interpretation
Legal interpretation involves investigating the meaning of a legal provision. The legislator who created the rule can provide an authentic
Read MoreContract Law: Performance, Breach, and Discharge
Contract Performance
Divisible Contracts
In divisible contracts, payment can be claimed for each completed stage. The intention to create divisibility can be implied from payment by installments, such as in construction contracts.
Substantial Performance
If a contract is substantially performed, with only minor elements remaining, the performing party can claim the contract price minus deductions for outstanding work or remedies.
Partial Performance and Acceptance
If one party accepts partial performance,
Read MoreUnderstanding Declaratory Decrees: A Comprehensive Guide
Understanding Declaratory Decrees
A declaratory decree is a legal instrument that clarifies the rights and legal status of parties involved in a dispute. It is a binding declaration issued by a court, without providing consequential relief, such as damages or an injunction.
When is a Declaratory Decree Used?
A declaratory decree is sought when an individual’s legal character or property rights are disputed. The person whose rights are being challenged can file a declaratory suit to obtain a clear declaration
Read MoreRecovery of Possession of Moveable Property under Specific Relief Act
Recovery of Possession of Moveable Property
1. Introduction
The Specific Relief Act outlines the circumstances under which a person can sue for the recovery of moveable property held by another without lawful justification.
2. Relevant Provisions
Sections 10 and 11 of the Specific Relief Act govern the recovery of moveable property.
3. Who Can File Suit
The following individuals can file a suit for the recovery of moveable property:
- Owner of the property
- A trustee on behalf of the beneficiary