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Describe the principal-agent framework
In standard principal-agent framework an agent may be directed to maximize an objective function which may or may not be different from that of his principal. How can then principal or the government achieves the objective directing an agent delegated with authority, who is maximizing altogether an objective function other than that of the principal? The key insight is that the principal may find it optimal to act strategically when its agents themselves are acting strategically.
Possessory Lien Possessory Lien right of a party in possession about anothers goods to retain like the m as security about an obligation owned as in the owner. Therefore the
Ways which affect the behaviour of the policy maker There may be at least three ways this uncertainty may affect the behaviour of the policy maker. a) He may chose mainly th
The UNCLOS 1982 The UNCLOS 1982 does not stop at gauging the limits of the territory of coastal states. Other features of the Convention include the right of transit of landloc
Shares Issued At A Premium: A company may at times issue its shares at a price above their nominal value, i.e at a premium. This may be necessitated by the fact that the compa
Directorship - company management: A directorship is not a professional job with a legally prescribed qualification. In the circumstances, anybody (even a six-months-old baby)
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Pre-incorporation Contracts: A pre-incorporated contract is an agreement which is entered into, usually by a promoter or promoters, on behalf of a
Resolution for the variation - Statutory provisions: Where any application is made pursuant to this provision, the variation shall not have effect unless and until it is confi
Function and Powers of Chairman: In the case of National Dwellings Society v Sykes Chitty, J. stated: "It is the duty of the chairman, and his function, to preserve order,
what is the importance of law enforcement and the legal profession as service industries?
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