What is Statement of Affairs in accounting?

What is Statement of Affairs in accounting?

A Statement of Affairs provides a detailed summary of a company’s assets and liabilities and is a key part of the insolvency process. It provides a clear audit trail of the status of business assets, and how much would be available to creditors once assets have been sold.

What does obtainable mean?

When something is obtainable, you can get your hands on it. Most information is easily obtainable or gettable on the internet these days. It’s just a click away! Obtainable comes from the Latin obtinere meaning to “hold, take hold of, acquire.” When something is obtainable, you are able to take hold of it.

What is another word for obtainable?

Obtainable Synonyms – WordHippo Thesaurus….What is another word for obtainable?

accessible attainable
available procurable
achievable acquirable
gettable realisableUK
realizableUS securable

What does not obtainable mean?

: not capable of being obtained : not available : not obtainable an unobtainable objective a gem so rare as to be virtually unobtainable.

What is on offer meaning?

phrase. If there is something on offer, it is available to be used or bought. Savings schemes are the best retail investment products on offer.

What is an offer in law definition?

Treitel defines an offer as “an expression of willingness to contract on certain terms, made with the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed”, the “offeree”. An offer is a statement of the terms on which the offeror is willing to be bound.

What is an offer in law?

An offer is a sign of their willingness to agree on certain terms from one person to another. If there is an express or implied agreement, a contract will then be formed. A contract is said to come into being when the acceptance of an offer has been told to the offeror by the offeree.

Is an offer a contract?

To form a contract, there must be an offer by one party, an acceptance by another party, and an exchange of consideration (something of value). The person who proposes the terms of an agreement makes an offer, and is called an “offeror” in contract law.

What is offer and its types?

Types of offer in contract may vary depending on a number of factors. An offer refers to an invitation to enter into a contractual agreement. When the offeree accepts the offer, a legally binding contract is formed. An offer can be made by one or both parties of a contract or met with a counteroffer.

What are the sources of implied terms?

Terms may be implied into contract through statutes, custom or by the courts. When implied by statute, Parliament may well make certain terms compulsory.

What are implied terms of employment?

Implied terms are terms of the employment contract that are not necessarily set out in writing or were agreed orally, but will nevertheless form part of the agreement between the employer and employee.

What are statutory implied terms?

These protections are in the form of statutory implied terms. This means that the Consumer Rights Act or the Sale of Goods Act will put these terms into all contracts for the sale of goods no matter what the parties themselves have agreed in the terms and conditions of sale.

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