In insisting on this, however, the courts would be hampering trade and commerce. The contracting parties provide liquidated damages to bring certainty in the contract and save the parties from the inconvenience of following the lengthy and contentious process of establishing the losses. The courts have resolved the dilemma by finding the following middle path. On the face of it, if the liquidated damages appear to be a ‘genuine pre-estimate’ of the losses, the court would award it. That is, looking at the substance and nature of the contract, the court would ask whether the parties genuinely expected the mentioned losses to arise in the case of a breach. Only if the answer is ‘no’, the court would ask the parties to establish the losses and award the actual losses, not the liquidated damages. The landmark judgement on the award of liquidated damages is the Dunlop case, from the House of Lords, 1914. The leading case from the Supreme of India is the Saw … [Read more...] about Are the high airline cancellation charges legally valid?
Business high yield savings account
FDIC As Receiver. In an answer to the “too-big-to-fail” issue that plagued Congress during the financial crisis, the Treasury Secretary is given the authority to appoint the FDIC as receiver of any financial company if certain conditions are satisfied.Findings Necessary to Trigger. For this provision to be triggered, the Treasury Secretary, upon the recommendation of two-thirds of the Federal Reserve Board and two-thirds of the FDIC Board, and in consultation with the President must make the following findings: (i) the financial company is “in default or danger of default;” (ii) the failure of the financial company and its resolution under otherwise applicable insolvency law would have serious adverse effects on the financial stability of the U.S.; (iii) no viable private sector alternate is available to prevent the default of the firm; (iv) any effect of using the orderly liquidation authority on the claims or interests of creditors, counterparties, and … [Read more...] about Dodd-Frank Bill Reshapes Businesses
. See id. In addition to the factors listed in the 2002 Proposal, with respect to dealer status in the context of the Government Securities Act of 1986 (GSA), the SEC staff also identified the following factors: (i) issuing or originating securities that would qualify as securities under the GSA; (ii) participating in a selling group or underwriting government securities; (iii) purchasing or selling government securities as principal from or to customers; (iv) carrying a dealer inventory; (v) quoting a market in government securities or publishing quotes; (vi) advertising or otherwise holding oneself out as a government securities dealer, such as holding oneself out as being willing to buy and sell particular government securities on a continuous basis; (vii) rendering any incidental investment advice; (viii) extending or arranging for the extension of credit to others in connection with government securities; (ix) running a book or repurchase and reverse repurchase … [Read more...] about Challenges in Requiring High-Frequency Traders to Register as Dealers
“Like most central banks, the ECB influences inflation by setting interest rates. If the central bank wants to act against too high inflation, it generally increases interest rates, making it more expensive to borrow and more attractive to save. By contrast, if it wants to counter too low inflation, it reduces interest rates,” the ECB states on its website. “A central bank's core business is making it more or less attractive for households and businesses to save or borrow, but this is not done in the spirit of punishment or reward. By reducing interest rates and thus making it less attractive for people to save and more attractive to borrow, the central bank encourages people to spend money or invest.” … [Read more...] about Experts on High Alert over Negative Interest Rates
"Even in the worst case, I promise that the basic needs of Iranians will be provided. We have enough sugar, wheat, and cooking oil. We have enough foreign currency to inject into the market," Rouhani said in a speech broadcast live on state television. … [Read more...] about Rouhani: Iran Won’t Yield to Pressure From Trump