What Is the Cy Pres Doctrine?

The cy pres doctrine is a legal doctrine that allows a court to modify the terms of a trust or will if the original purpose of the trust or will becomes impossible or impracticable to achieve. The doctrine is derived from the French phrase “cy pres comme possible,” which means “as near as possible.” The … Read more

Statutory Liability.

The term “statutory liability” refers to a legal obligation that is imposed on an individual or organization by a law or statute. This type of liability is typically incurred in the course of business operations, and can arise from either intentional or unintentional actions. Statutory liability can be divided into two broad categories: civil liability … Read more

What is recession?

A recession is called a decrease and fall in economic activity during a certain period of time. The recession affects production, employment, income and other indicators. For there to be a recession, it is officially said that the annual rate of change of the GDP it is negative for two consecutive quarters. Commonly, the recession … Read more