Monthly Archives: February 2016

Object of Contracts

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Status of Contract under Fraud

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Incapacity and Fraud

Art. 1327 The following cannot give consent to a contract: a. Unemancipated minors b. Insane or demented persons, deaf and  mutes who do not know how to read and write. Contracts entered into lucid intervals is valid. Art. 1330 A … Continue reading

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Stages of Contract

Stages: Preparation – steps taken by the parties going to perfection of the contracts. (Negotiation stage. Perfection – parties came to a definite agreement. Meeting of minds between the parties upon the object and cause. Consummation – death or termination … Continue reading

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Contracts

Art.1305 Contracts is a meeting of minds between two persons whereby bind themselves with respect to the other to give something, or to render some services. All agreement between parties are binding provided that is not contrary to law, public … Continue reading

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Installment Sales

The usual method of accounting for recognition of revenue is Accrual Method, but there is 3 exceptions: Installment Sales – profit is recognized at the point of sale. Long Term Construction  – recognized sales gains and losses even at the … Continue reading

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CVP – Cost Volume Profit Analysis

A systematic examination of relationships among costs, cost driver, and profit. Elements of CVP Sales – Selling Price(SP) Units or Volume Total Fixed Costs(FC) Variable Costs per Unit Sales Mix Applications of CVP Type of Product to Produce and Sell … Continue reading

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