Examlex
If a manager has determined that a particular piece of capital is likely to increase the cash flow of a business by $10,000 for the next five years, what is the present value of the capital at an interest rate of 10 percent? (Assume that the cash flow first increases one year from today.)
Implied-In-Law Contract
An obligation created by law for equity and fairness, even though no actual agreement was made by the parties.
Quasi-Contract
An obligation imposed by law in the absence of a contract to prevent unjust enrichment, where one party receives a benefit at the expense of another without a formal agreement.
Causa Mortis
Refers to a gift given by someone in expectation of their imminent death, with specific legal ramifications.
Distant Future
A time period that is significantly far ahead, often undefined and speculative.
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