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The case law has evolved over the years to create a number of exceptions to the rule in Pinnel's case. [4] The exceptions to the rule in Pinnel's case include: Payment accompanied by fresh consideration; [5] Prepayment of debt at the creditor's request; [2] Payment of a lesser sum at another place at the creditor's request; [2]
The term statute of frauds comes from the Statute of Frauds, an act of the Parliament of England (29 Chas. 2 c. 3) passed in 1677 (authored by Lord Nottingham assisted by Sir Matthew Hale, Sir Francis North and Sir Leoline Jenkins [2] and passed by the Cavalier Parliament), the long title of which is: An Act for Prevention of Frauds and Perjuries.
The COSO framework defines internal control as a process, carried out by the board of directors, the administration and other personnel of an entity, designed to provide "reasonable security" with respect to the achievement of objectives in operations, financial reporting, and compliance with applicable laws and regulations.
Separation of duties (SoD), also known as segregation of duties, is the concept of having more than one person required to complete a task.It is an administrative control used by organisations to prevent fraud, sabotage, theft, misuse of information, and other security compromises.
Fraud deterrence is based on the premise that fraud is not a random occurrence; fraud occurs where the conditions are right for it to occur. Fraud deterrence attacks the root causes and enablers of fraud; this analysis could reveal potential fraud opportunities in the process, but is performed on the premise that improving organizational procedures to reduce or eliminate the causal factors of ...
After the passage of the act, the Federal Trade Commission is required to (1) define and prohibit deceptive telemarketing practices; (2) keep telemarketers from practices a reasonable consumer would see as being coercive or invasions of privacy; (3) set restrictions on the time of day and night that unsolicited calls can be made to consumers ...
Under the False Claims Act, the Department of Justice is authorized to pay rewards to those who report fraud against the federal government and are not convicted of a crime related to the fraud, in an amount of between 15 and 25 (but up to 30% in some cases) of what it recovers based upon the whistleblower's report.
The Fraud Enforcement and Recovery Act of 2009, or FERA, Pub. L. 111–21 (text), S. 386, 123 Stat. 1617, enacted May 20, 2009, is a public law in the United States enacted in 2009. The law enhanced criminal enforcement of federal fraud laws, especially regarding financial institutions, mortgage fraud, and securities fraud or commodities fraud.