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ADMS 2610 Study Guide - Operating Lease, Hire Purchase, Force Majeure

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School
York University
Department
Administrative Studies
Course
ADMS 2610
Professor
Robert Levine

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Document Summary

Note: the following notes are in addition to the materials on bailment in your text. A lends his lawnmower to b for a couple of days after which b returns it to or with payment of money: A stores his furniture with a storage company, b, for a period of 6 months under a contract which requires a to pay b $ 150. 00 per month. In both cases, a is the bailor and b is the bailee. As can be seen from the two examples above and from its definition/explanation, bailment is gratuitous as no money changes hands. In the second example, the bailment is said to be for reward, because payment by the bailor is required. bailment usually arises by way of some sort of contract between the bailor and bailee. Types of bailment, duty of care and standard of care: lease and hire purchase agreement) which i referred to in the lecture, the main types of bailment are:

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Related Questions

TRUE OR FALSE13. _____ An easement may be removed from county records by a quit claim deed signed by the owner of the easement.

14. _____ When a parcel of real property is sold in foreclosure, the easement rights transfer with title.

15. _____ An easement appurtenant passes with the title to the dominant estate.

16. _____ A private road on Don’s property has often been used by fishermen as a walkway to the lake. If Don wishes to break the fishermen’s claim to an easement by prescription, while still allowing the use, he must give notice of his consent to their use of the property.

17. _____ The legal right of a utility company to maintain power lines along the back of a lot is called adverse possession.

18. _____ The best way to determine whether a property has an encroachment is to search the title.

19. _____ A property owner lived in an area newly zoned for business but his deed contains a restriction against commercial usage. In this case the zoning laws would prevail.

20. _____ The type of lien used by someone who does work or supplies materials for a home and has not been paid is called a mechanic’s lien.

I. Fill in the blank using a number of terms listed below (@1 point). Annuity due, Asset Mgmt ratio, Call, Comparisons, Comparative ratio analysis, Corporation, Covered, Current Ratio, DSO, Du Pont Equation , Equal, Future performance, Greater, Higher, In-the-money, Less, Liquidity, Lower, Option, Ordinary Annuity, Out-of-the-money, Percentage, Perpetuity, Put, PV, Quick, Reduced, TIE, TATO, Trend Analysis, Writer 11. The payment or receipt of equal amounts, at the end of a series of equal periods, for a specified amount of time is called a(n) _______________. 12. When a loan is amortized over a five year term, the amount of interest paid is ________________ each year. 13. You have just won a $5 million lottery to be received in twenty annual equal payments of $250,000. What will happen to the present value of your winnings if the interest rate increases? It will be worth _________________. 14. The more frequent the compounding the _________________ the effective interest rate. 15. More frequent compounding results in _______________ future values and _______________ present values than less frequent compounding at the same nominal interest rate. 16. A(n) _______________ is a financial instrument that agrees to pay an equal amount of money per period into the indefinite future (i.e. forever). 17. A(n) _________________ is a contract which gives its holder the right to buy(or sell) an asset at some predetermined price within a specified period of time. 18. The seller of an option is called the option __________________. 19. An investor who writes call options against stock held in his or her portfolio is said to be selling _______________ options. 20. When the exercise price exceeds the current stock price, a call option is said to be _____________________; however, when the exercise price is less than the current price of the underlying stock, a call option is _________________. 21. An option which gives you the right to sell a stock at a specified price within some future period is called a(n) ______________ option.

Research the current problem in Greece (I suggest a Wall Street Journal, for example). Relate the options available to creditor countries like Germany to the notion of MORAL HAZARD.

Moral hazard is the prospect that a party insulated from risk may behave differently from the way it would behave if it were fully exposed to the risk. Moral hazard arises because an individual or institution does not bear the full consequences of its actions, and therefore has a tendency to act less carefully than it otherwise would, leaving another party to bear some responsibility for the consequences of those actions.

For example, an individual with insurance against automobile theft may be less vigilant about locking his car, because the negative consequences of automobile theft are (partially) borne by the insurance company.