NEWS & BLOGS EXCLUCIVELY FOR INFORMATION TO ENGINEERS & VALUERS COMMUNITY
DIFFERENCE BETWEEN SALE AND LEASE DEFINITION OF SALE A standard sales agreement, also called a purchase contract, are the terms by which two parties–a buyer and seller–agree to transfer ownership of property. The key components are identification of the property, the sales price and the timeline. Before the sale is finalized, the contingencies are also […]
VOID AND VOIDABLE CONTRACT The law relating to contracts in India is governed by The Indian Contract Act, 1872. However the Contract Act does not purport to codify the entire law relating to contracts, the Act also specifically preserves any usage or custom of the trade or any incident of any contract not inconsistent with
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INDEMNITY AND GUARANTEE Definition of Indemnity: An indemnity contract is a legal arrangement between two parties in which one party agrees to pay another party for a loss or harm that meets certain requirements and conditions unless other circumstances are specified. It is a form of contingent contract which is characterized by all the essential
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Insolvency and Bankruptcy Board of India Press Release No. IBBI/PR/2022/14, 31st March 2022 Phase 4 of Valuation Examinations w.e.f. 1st July 2022 In pursuance of the rule 5 (3) of the Companies (Registered Valuers and Valuation) Rules, 2017, the IBBI, being the Authority, hereby publishes the syllabus and format of the ‘Valuation Examinations’ to be
FOUR TYPES OF LEASE-ALL YOU NEED TO KNOW BUILDING LEASE Building Lease:- It is a legal contract used by landlords and tenants to formally agree on the rental terms of commercial buildings that are used for office, industrial, or retail purposes. Landlords receive payments from their tenants in return for being able to use
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THREE TYPES OF OCCUPANCY FOR DETERMINING YOUR MORTGAGE READINESS PRINCIPAL The principal, or primary, residence is the one that you and your family live in most of the time. It is the address that will be listed on your state and federal tax returns. It can be a single-family home or it can be a
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IMPORTANT TERMS IN A LEASE AGREEMENT A lease or rental agreement sets out the rules Lessor and Lessee agree to follow in their Lease relationship. It is a legal contract, as well as an immensely practical document full of crucial business details, such as how long the tenant can occupy the property and the amount
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PLANNED PREVENTIVE MAINTENANCE (PPM) OF BUILDING It is based on a fixed execution frequency of activities that generates a calendar schedule. A time-based maintenance schedule for an asset, equipment or building fabric is based on a library with maintenance activities and its pre-set frequency of execution for that asset. These frequencies can be based on
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DIFFERENCE BETWEEN INSOLVENCY AND BANKRUPTCY The term ‘insolvency’ can be used in the context of both individuals and organizations. Insolvency represents that particular ‘state’ in which the individual or organization is not able to settle debts on time when they fall due for payment because of lack of funds or bank balance. On the other
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MEANING OF CO-OWNERSHIP AND JOINT OWNERSHIP CO-OWNERSHIP Co-owners can be a group or individuals that own a percentage of an asset in conjunction with another individual or group. A co-owner is an individual or group that shares ownership in an asset with another individual or group. Each co-owner owns a percentage of the asset, although
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MEANING OF OBSOLESCENCE AND ITS THREE TYPES When something becomes “obsolete” it means that it has either lost its function or desirability due to changing technologies, requirements, or market preferences. An easy way to illustrate this concept is to spend a moment thinking about how the way we listen to music has………….. CLICK BELOW
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VALUATION OF LIABILITIES- ALL YOU NEED TO KNOW Liabilities are generally valued on the balance sheet at either 1) the amount of money needed to pay debt 2) the FMV of goods or services to be delivered……… CLICK BELOW TO READ COMPLETE INFORMATION
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