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S.M.A.R.T. (or SMART) is an acronym used as a mnemonic device to establish criteria for effective goal-setting and objective development. This framework is commonly applied in various fields, including project management, employee performance management, and personal development.
For example, a business plan for a non-profit might discuss the fit between the business plan and the organization's mission. Banks are quite concerned about defaults, so a business plan for a bank loan will build a convincing case for the organization's ability to repay the loan.
It is based on the principles of natural justice and fairness, and seeks to prevent authorities from abusing power. The courts of the United Kingdom have recognized both procedural and substantive legitimate expectations. A procedural legitimate expectation rests on the presumption that a public authority will follow a certain procedure in ...
Example - buyer breaches contract to purchase produce; seller is expected to mitigate e.g., "cover" under the U.S. Uniform Commercial Code or resale; failure to make reasonable attempts to resell can be a ground to deny damages arising from breach e.g., spoilage. Breaching party is liable for costs which arise from an effort to take reasonable ...
The theory notes, to consider with accountability for reasonableness is to consider the following four conditions: [4] Relevance: The decision-making criteria and factors considered should be relevant to the goals and values of the affected stakeholders, such as patients, healthcare providers, and the community.
For example, the Commonwealth of Massachusetts will assess punitive damages under Chapter 93A which governs unfair and deceptive business practices, and a party found to have violated the covenant of good faith and fair dealing under 93A may be liable for punitive damages, legal fees and treble damages. [2]
The concept of reasonableness has two related meanings in law and political theory: . As a legal norm, it is used "for the assessment of such matters as actions, decisions, and persons, rules and institutions, [and] also arguments and judgments."
While the term seems to originate in the insurance industry (which applies a form of the reasonable rule by determining, for example, whether it is reasonable for a particular medical procedure to be done on a particular client in order to determine if the medical insurance company will pay for that procedure), it applies in many other areas, including: