Examlex
If the fair value option is not elected,the company must still disclose the fair value of its all of its notes receivable.
Proximate Cause
The primary event or act that leads to a legal liability, directly resulting in the occurring damage or injury.
Strict Liability
A legal principle where a party can be held responsible for damages or harm caused without needing to prove negligence or intent.
Privity of Contract
A legal concept indicating that contracts confer rights and impose obligations only on the parties signing the contract.
Defendant's Liability
The legal responsibility of the defendant in a legal proceeding to compensate for harm caused.
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