The relationship between a banker and its customers are not only fiduciary in nature but contractual as well. Therefore under any contractual terms, there exist terms and conditions, also known as an exclusion clause to protect the maker of the statement. With regards to case law, explain the rules of “incorporating” an exclusion clause in order for it to work.

Q: Fiduciary responsibilities are critical part of which relationship---customer or client? Why?

A: Fiduciary responsibility is the harmonious relationship of trust between a fiduciary agent and a…

Q: In today’s present environment, discuss and analyse why some contracts need to be completely written…

A: A written contract is a documented agreement between two parties, one of which is lending and one of…

Q: the effect of the doctrine of privity of contract is that

A: The doctrine of privity of contract states that the contract law would not impose any obligation and…

Q: True or False. An arbitration clause in a contract requires that any dispute concerning the contract…

A: The arbitration clause works in case of legal disputes between parties. It deals with the party's…

Q: If a company has any debt covenants, those debt covenants need to be considered whenever that…

A: Debt Covenant: Debt covenants are limits that lenders (creditors, debt holders, investors) impose on…

Q: The duty owed under the mitigation of damages doctrine depends on the nature of the breached…

A: A breach of contract occurs when one party in a binding agreement fails to deliver according to the…

Q: Do you agree that contract should be interpreted based on an objective assessment of the parties…

A: In 2014, the Supreme Court of North American nation rendered 2 choices concerning the law of…

Q: Positive covenants specify actions a borrowing company must take as part of the indenture. These…

A: The statement is False. Positive covenants, part of a loan's terms, do require the borrower to…

Q: Who are covered by the anti-bribery provisions?  Who are covered by the accounting provisions?

A: The Foreign Corrupt Practices Act of 1977 (FCPA) is a United States federal law  known primarily for…

Q: Describe a current or historical M&A deal that faced regulatory scrutiny. Discuss how the deal…

A: The objective of this question is to discuss a merger and acquisition (M&A) deal that faced…

Q: Bonds can be an effective counterbalance in a portfolio heavily invested in stocks. True False

A: Bonds: It is a type of investment wherein the issuer of the bond promises the holder of the bond to…

Q: The party making the promise to pay is called the maker. O True O False

A: A promissory note has usually two parties, promisor and a promisee. Promisor is a person who makes…

Q: Negative covenants tend to be less significant than affirmative covenants because they place direct…

A: > The answer is "FALSE"

Q: A(n) _________ is a lender, seller, or any other person in whose favor there is a security interest.…

A: Following are the definitions:   Unsecured Creditor: A creditor not having the benefit of security…

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: Define the term truth-in-lending laws? What are its requirements?

A: Answer: The 1968 Truth in Lending Act (TILA) is a federal statute of US aimed at encouraging…

Q: Companies provide information about performance obligations in contracts with customers, including…

A: The question is asking about the type of information that companies provide about performance…

Q: If either party fails to perform their contractual obligations according to the contract terms, it…

A: Auditing refers to the examination of the financial records of a business organization to verify the…

Q: define contingent liability and give an example. How would you management of a company distort a…

A: Solution Concept Contingent liability               Contingent liability means the liability which…

Q: From a business's perspective, what is a warranty payment? Is it the same as a warrant payment or…

A: A warrant is a written order by one person instructing or authorizing another person to pay a…