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Relationship maintenance (or relational maintenance) refers to a variety of behaviors exhibited by relational partners in an effort to maintain that relationship.Scholars define relational maintenance in four different ways: [1] to keep a relationship in existence, to keep a relationship in a specified state or condition, to keep a relationship in a satisfactory condition, and to keep a ...
Rule violations are events, actions, and behaviors that violate an implicit or explicit relationship norm or rule. Explicit rules tend to be relationship specific, such as those prompted by the bad habits of a partner (e.g., excessive drinking or drug abuse), or those that emerge from attempts to manage conflict (e.g., rules that prohibit spending time with a former spouse or talking about a ...
Third-party management is the process whereby companies monitor and manage interactions with all external parties with which it has a relationship. This may include both contractual and non-contractual parties.
An example is how a dominant shareholder may benefit from making one of their companies trade with another at advantageous prices. [1] Related party transactions can be a reason for a Type II agency relationship (conflicts among controlling and non-controlling shareholders), as they are not necessarily in the best interest of minority shareholders.
Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount. [1] [2] [3] A business will sometimes factor its receivable assets to meet its present and immediate cash needs.
The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, who is authorized to act on behalf of another (called the principal) to create legal relations with a third party. [1]
Knowledge of that relationship by a third party. Intent of the third party to induce a party to the relationship to breach the relationship. Lack of any privilege on the part of the third party to induce such a breach. The contractual relationship is breached. Damage to the party against whom the breach occurs. [12]
Intercompany accounting is the accounting process when transactions occur between two business entities with common ownership. Companies with common ownership include parent companies and subsidiary companies. Intercompany transactions arise when business transactions occur between entities that are not independent since control of both is held ...