It is a well-established principle that the contents of the bylaws that contravene the Constitution and the laws of the land are deemed void; and that in case of contradiction to any of the provisions of the articles of incorporation, the By-Laws' provision/s shall prevail

Q: Under what circumstances can a CPA be paid on a commission basis? Why do you think the regulation…

A: CPA stands for Certified Public Accountant. A CPA is a licensed accounting professional who has met…

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Q: Defihe and explain -An agreement that violate statute - An agreement that violate public policy…

A:

Q: he Securities and Exchange Commission denied the amendment of the Articles of Incorporation of…

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Q: Is the vote of the majority of the board also necessary for the approval of the by-laws of the…

A:

Q: What kinds of deductions are prohibited as a matter of public policy?  Why might Congress deem it…

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Q: True or False. A long arm statute is a state law that permits state courts to exercise jurisdiction…

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Q: 20. (A) The corporation’s capacity is limited to such express, implied and incidental powers. (B) A…

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Q: The Federal Rules of Evidence details the following types of privilege: Clergy-Client O…

A: The Federal Rules of Evidence are a collection of rules that regulate the admission of evidence in…

Q: In which of the following instances does Entity A have control over Entity B?

A: An entity controls the other entity when it has an existing right that gives a current ability to…

Q: Which itemized deductions are limited by AGI? Why do you think that Congress limited these…

A: Itemized deductions: An itemized deduction is an expenditure on eligible products, services, or…

Q: Give examples of obligations or contracts which are contrary to law .

A: The contract is an agreement forming a relationship between two parties in such a way that if any of…

Q: A contract that only one of the parties can enforce in a court is not valid. True False

A: An agreement containing various terms and conditions; rights and obligations to perform that are…

Q: The Rule against Perpetuities is a common law restriction against creating interests that would vest…

A: Section 14 of the ‘The Transfer of Property Act, 1882’ (TPA) is rightly called ‘Rule against…

Q: he communications between CPAs and their clients are privileged under federal law. True or False

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: A court order requiring that a person do or refrain from doing a particular act is known as a(n):…

A: We have the following question: A court order requiring that a person do or refrain from doing a…

Q: TRUE OR FALSE   An instrument payable out of a contingency is not negotiable even if the…

A: Since you have posted question with multiple sub-parts, we will do the first three sub-parts for…

Q: In explaining the meaning of obligation in the definition of a liability, the Conceptual Framework…

A: when a liability arises to pay the amount than obligations will arise.

Q: s cannot contravene, much less overrid

A: The answer has been mentioned below.

Q: arbanes Oxley been an effective piece of le

A: Yes, even if the results aren’t staggering and as relevant because the act hoped for, the act has…

Q: Help! True or false In case of conflict between the by-laws and the corporation code, the code shall…

A: solution concept By laws By laws means the laws an rules framed by the corporation for its…

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A:

Q: What is the difference between Common Law and Statutory Law?

A: Question is based on the concept of Business management

Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.