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A reclass or reclassification, in accounting, is a journal entry transferring an amount from one general ledger account to another. This can be done to correct a mistake; to record that long-term assets or liabilities have become current; or to record that an asset is now being used for a different purpose (e.g. lands becoming investment property intended for resale, rather than as property ...
The Restatements of the Law is one of the most respected and well-used sources of secondary authority, covering nearly every area of common law. While considered secondary authority (compare to primary authority), the authoritativeness of the Restatements of the Law is evidenced by their acceptance by courts throughout the United States.
Specifically, the UCC has replaced the Restatement (Second) of Contracts in regard to the sale of goods. The Restatement (Second) of Contracts remains the unofficial authority for aspects of contract law which find their genesis in the common law principles of the United States and, previously, England. [citation needed]
The traditional notion that courts won't look into the adequacy of consideration, an ancient notion in the English common law, doesn't square with the benefit-detriment theory (in which courts are implicitly analyzing if the parties are receiving a sufficient benefit) but does square with the bargain theory (in which only the subjective ...
Each of these volumes is divided into sections that begin with a text in boldface that summarizes a basic rule on an aspect of the law of contracts, agency, etc. This "restatement" is followed by commentary and examples that expand on the principle stated. Another synonymous term, usually used in the United Kingdom, is "trite law".
The decision upholds a lower court's ruling to release funds to USAID contractors. Justice Samuel Alito dissented, saying he was "stunned" by the high court's ruling. The US Supreme Court on ...
Zayn Malik has come a long way since he left One Direction in 2015 and had a difficult start to his solo career due to live performances he had to cancel because of crippling anxiety.
The Restatement (Second) of Torts is in accord with this concept, stating that one who receives possession of a chattel from another with the intent to acquire for himself or a third person a proprietary interest in the chattel which the other has not the power to transfer is subject to liability for conversion to a third person then entitled ...