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For instance, the cost of snow removal varies greatly on the weather. Others vary because they are multi-year expenses, like the repaving of the parking lot, which might only occur every ten years. To smooth out fluctuations in payments, leases may include a ceiling or floor , the maximum or minimum payments in any given period.
Deprival value equals the lower of replacement cost and recoverable amount; and Recoverable amount is the higher of net selling price and value in use. An important practical implication of deprival value reasoning is that many assets will be stated at replacement cost, as entities tend to hold and use assets that they can employ profitably and ...
A series LLC is a special form of a limited liability company that allows a single LLC to segregate its assets into separate series. For example, a series LLC that purchases separate pieces of real estate may put each in a separate series so if the lender forecloses on one piece of property, the others are not affected.
Incident. Amount. Fridge value at the time of purchase in 2018 (i.e., its replacement cost) $1,500. Useful life. 14 years. Depreciation per year. $107 ($1,500 ÷ 14)
The product liability form of the rule (i.e., that there is no recovery for pure economic loss under a theory of strict product liability) can be traced back to Roger Traynor's decision in the California case Seely v. White Motor Co. (1965), which was later adopted by the Supreme Court of the United States in East River Steamship Corp v.
In a 2022 interview with KCRA, a FAIR Plan spokesperson stated that the average cost of a policy is about $3,200 per year, which is significantly more than a typical home insurance policy in ...