Examlex
In calculating the accounting rate of return using the straight-line method of depreciation,the annual average investment is calculated as (beginning book value + ending book value)/2.
Reliance Damages
Compensation awarded for losses suffered as a result of relying on a promise or agreement, even if a contract was never formalized.
Lost Profits
Refers to the income that a business could have earned but was unable to due to some form of disruption or another party's actions.
Misrepresentation
A false statement of fact made by one party to another, which has the effect of inducing that party into a contract.
Law of Restitution
A legal principle aimed at preventing unjust enrichment, requiring a party to return goods or compensation to another from whom they were unjustly received.
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