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Joint And Several Liability
Where two or more persons are liable in respect of the same liability, in most common law legal systems they may either be: * severally liable, or * jointly liable, or * jointly and severally liable. Several liability In several or proportionate liability, parties are liable only for their own obligations. : ''Example: AnyBank and AnotherBank join as a syndicate to lend to Credit-Hungry Industries, Inc. The agreement provides that each bank is severally liable for its own part of the loan. AnyBank fails to advance its agreed part of the loan: Credit-Hungry can sue only AnyBank, and AnotherBank has no liability.'' Joint liability If parties have joint liability, each of them is liable up to the full amount of the relevant obligation. : ''Example: Alex and Bobbie are married. Together they take a loan from a bank and the loan agreement specifies that they are to be jointly liable for the full amount. Alex moves overseas and ceases to make payments. The bank is entitled to sue ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Liability
In law, liable means "responsible or answerable in law; legally obligated". Legal liability concerns both Civil law (common law), civil law and criminal law and can arise from various areas of law, such as contracts, torts, taxes, or fines given by Administrative law, government agencies. The Plaintiff, claimant is the one who seeks to establish, or prove, liability. Liability in business In commercial law, limited liability is a method of protection included in some business formations that shields its owners from certain types of liability and that amount a given owner will be liable for. A limited liability form separates the owner(s) from the business. The limited liability form essentially acts as a corporate veil that protects owners from liabilities of the business. This means that when a business is found liable in a case, the owners are not themselves liable; rather, the business is. Thus, only the funds or property the owner(s) have invested into the business are subje ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Review Of Economic Studies
''The Review of Economic Studies'' (also known as ''REStud'') is a quarterly peer-reviewed academic journal covering economics. The journal is widely considered one of the top 5 journals in economics. It is managed by the editorial board currently chaired by Ruben Enikolopov. The current joint managing editors are Thomas Chaney at University of Southern California, Xavier D’Haultfoeuille at Center for Research in Economics and Statistics, Andrea Galeotti at London Business School, Bard Harstad at Stanford Graduate School of Business, Nir Jaimovich at University of California, San Diego, Katrine Loken at Norwegian School of Economics, Elias Papaioannou at London Business School, Vincent Sterk at University College London, and Noam Yuchtman at University of Oxford. According to the ''Journal Citation Reports'', the journal has a 2020 impact factor of 6.345. History The journal was founded in 1933 by a group of economists based in Britain and the United States. The original editori ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elsevier
Elsevier ( ) is a Dutch academic publishing company specializing in scientific, technical, and medical content. Its products include journals such as ''The Lancet'', ''Cell (journal), Cell'', the ScienceDirect collection of electronic journals, ''Trends (journals), Trends'', the ''Current Opinion (Elsevier), Current Opinion'' series, the online citation database Scopus, the SciVal tool for measuring research performance, the ClinicalKey search engine for clinicians, and the ClinicalPath evidence-based cancer care service. Elsevier's products and services include digital tools for Data management platform, data management, instruction, research analytics, and assessment. Elsevier is part of the RELX Group, known until 2015 as Reed Elsevier, a publicly traded company. According to RELX reports, in 2022 Elsevier published more than 600,000 articles annually in over 2,800 journals. As of 2018, its archives contained over 17 million documents and 40,000 Ebook, e-books, with over one b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journal Of Development Economics
The ''Journal of Development Economics'' is a bimonthly peer-reviewed academic journal published by Elsevier. It was established in 1974 and is considered the top field journal in development economics. Its editor-in-chief An editor-in-chief (EIC), also known as lead editor or chief editor, is a publication's editorial leader who has final responsibility for its operations and policies. The editor-in-chief heads all departments of the organization and is held accoun ... from 1985 to 2003 was Pranab Bardhan, who has been the longest-serving JDE editor to date. He followed T.N. Srinivasan, and Lance Taylor as Editors since the journal was established in 1974. He was succeeded by Mark Rosenzweig (2003-2009) and Maitreesh Ghatak (2009-2015). The current editor-in-chief is Andrew Foster, who started in 2016. See also * ''The Developing Economies'' * ''The World Economy'' References External links * * Economics journals Bimonthly journals English-language journals Else ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The MIT Press
The MIT Press is the university press of the Massachusetts Institute of Technology (MIT), a private research university in Cambridge, Massachusetts. The MIT Press publishes a number of academic journals and has been a pioneer in the Open Access movement in academic publishing. History MIT Press traces its origins back to 1926 when MIT published a lecture series entitled ''Problems of Atomic Dynamics'' given by the visiting German physicist and later Nobel Prize winner, Max Born. In 1932, MIT's publishing operations were first formally instituted by the creation of an imprint called Technology Press. This imprint was founded by James R. Killian, Jr., at the time editor of MIT's alumni magazine and later to become MIT president. Technology Press published eight titles independently, then in 1937 entered into an arrangement with John Wiley & Sons in which Wiley took over marketing and editorial responsibilities. In 1961, the centennial of MIT's founding charter, the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Costly State Verification
{{inline, date=December 2022 Costly state verification (CSV) is a framework in contract theory that studies how to design financial contracts when verifying the performance of a borrower is expensive. In this setting, a lender or investor must incur a cost to monitor or audit the actual outcome of a project undertaken by a borrower or entrepreneur. The key challenge is to design a contract that provides the right incentives while minimizing these verification costs. A central result of the CSV approach, introduced by Robert M. Townsend (1979), is that under certain assumptions, the optimal contract is a standard debt contract. In this contract, there is no disclosure of the entrepreneur's performance as long as debt payments are made. However, if the borrower defaults, the lender pays to verify the actual outcome. This leads to a state-contingent disclosure rule, where verification occurs only in the event of default. Viewed from this perspective, the main role of bankruptcy ins ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Surveillance
Surveillance is the monitoring of behavior, many activities, or information for the purpose of information gathering, influencing, managing, or directing. This can include observation from a distance by means of electronic equipment, such as closed-circuit television (CCTV), or interception of electronically transmitted information like Internet traffic. Increasingly, Government, governments may also obtain Customer data, consumer data through the purchase of online information, effectively expanding surveillance capabilities through commercially available digital records. It can also include simple technical methods, such as Human intelligence (intelligence gathering), human intelligence gathering and postal interception. Surveillance is used by citizens, for instance for protecting their neighborhoods. It is widely used by governments for intelligence gathering, including espionage, prevention of crime, the protection of a process, person, group or object, or the investigat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Screening (economics)
Screening in economics refers to a strategy of combating adverse selection In economics, insurance, and risk management, adverse selection is a market situation where Information asymmetry, asymmetric information results in a party taking advantage of undisclosed information to benefit more from a contract or trade. In ... – one of the potential decision-making complications in cases of asymmetric information – by the agent(s) with less information. For the purposes of screening, asymmetric information cases assume two economic agents, with agents attempting to engage in some sort of transaction. There often exists a long-term relationship between the two agents, though that qualifier is not necessary. Fundamentally, the Strategy (game theory), strategy involved with screening comprises the “screener” (the agent with less information) attempting to gain further insight or knowledge into private information that the other economic agent possesses which is initially unk ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Markets
The bond market (also debt market or credit market) is a financial market in which participants can issue new debt, known as the primary market, or buy and sell debt securities, known as the secondary market. This is usually in the form of bonds, but it may include notes, bills, and so on for public and private expenditures. The bond market has largely been dominated by the United States, which accounts for about 39% of the market. In 2021, the size of the bond market (total debt outstanding) was estimated to be $119 trillion worldwide and $46 trillion for the US market, according to the Securities Industry and Financial Markets Association (SIFMA). Bonds and bank loans form what is known as the ''credit market''. The global credit market in aggregate is about three times the size of the global equity market. Bank loans are not securities under the U.S. Securities and Exchange Act, but bonds typically are and are therefore more highly regulated. Bonds are typically not secured by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microfinance
Microfinance consists of financial services targeting individuals and small businesses (SMEs) who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings account, savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance product and services in MFI include: # Savings # Microcredit # Microinsurance # Microleasing and # Fund transfer/remittance. Microfinance services are designed to reach excluded customers, usually low income population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient.Peck Christen, Robert; Rosenberg, Richard; Jayadeva, Veena. ''Financial institutions with a double-bottom line: Implications for the future of microfinance''. CGAP, Occasional Papers series, July 2004, pp. 2–3. ID Ghana is an example of a microfinance institution. Microfinance initially had a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liability Insurance
Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy. Originally, individual companies that faced a common '' peril'' formed a group and created a self-help fund out of which to pay compensation should any member incur loss (in other words, a mutual insurance arrangement). The modern system relies on dedicated carriers, usually for-profit, to offer protection against specified perils in consideration of a premium. Liability insurance is designed to offer specific protection against third-party insurance claims, i.e., payment is not typically made to the insured, but rather to someone suffering loss who is not a party to the insurance contract. In general, damage caused intentionally as well as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
