ESTIMATING, TENDERING& ENGINEERING SERVICES CONTRACTS
| Institution | TVET |
| Course | DIPLOMA IN BUILDING... |
| Year | 1st Year |
| Semester | Unknown |
| Posted By | stephen oyake rabilo |
| File Type | |
| Pages | 131 Pages |
| File Size | 2.1 MB |
| Views | 5968 |
| Downloads | 0 |
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Description
Definition of the term “Law”
There is generally no acceptable definition of the word law. Different schools of Law define it differently. Some important definitions of law include: -
1. Woodrow Wilson, has defined law in the words “That portion of the established thought and habit
which has gained distinct and formal recognition in the shape of uniform laws, backed by authority and power of government”
2. According to Holland, “A law is a general rule of external human action enforced by sovereign political authority”
3. In the words of Salmond, “Law is a body of principles recognized and applied by the state in the administration of justice”.
4. Law may also be defined as” a rule of human conduct, imposed upon and enforced among the members of a given state”.
From the above definitions, we may conclude that law refers to “a set of rules or principles that govern the conduct of affairs in a given community at a given time, whereby machinery is provided for an aggrieved party to enforce his right in case any of these rules or principle is broken.
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ELEMENTS OF COMPANY LAW
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Promotion is conducted by persons who come up with the idea to form a company. A promoter is the person who conceives the idea of forming a company and who undertakes, does and goes through all the formalities and incidental preliminaries of incorporation. Legal position of the promoters A promoter is not an agent of the company during formation because the principal (company) does not legally exist. A promoter is not a trustee of the company during formation because the beneficiary doesn’t exist. Promoters are fiduciaries of the company with regard to formation. They have on their hands the creation and molding of the company. This is an equitable relationship based on trust, confidence and good faith. It imposes upon the promoter certain equitable or fiduciary obligations.
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ELEMENTS OF COST.
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Elements of costs is a statement that is a presentation of costs data in form of a
statement.
It shows cost incurred under appropriate headings e.g: manufacturing using
company we shall have:
Direct materials + Direct expenses + Direct labour = Prime cost.
Prime cost + Factory overheads (Production overheads) = Production costs.
Production costs + Administrative overheads + Selling overheads + Distribution
overheads = Total costs.
Total costs + Profit = Selling price.
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Physical education is the foundation of a Comprehensive School Physical Activity Program. It is an academic subject characterized by a planned, sequential curriculum (course of study) that is based on the national standards for physical education.
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SERVICE COSTING.
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service costing is the process of identifying all costs associated with building, supporting, and delivering your service. Examples of service cost components include equipment, staff labor, professional fees, software, license fees, and data center charges, to name just a few.
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ABSORPTION OF OVERHEAD.
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This is charging of overhead to cost units.
After determining the overhead of a cost centre these
overheads are charged to cost unit. It means that the total overheads of a cost centre are distributed to all cost units produced by the cost centre.
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Download a copy of the MARANDA HIGH POST-MOCK 2024; Mathematics PP1 & PP2 Question Papers with well coordinated Marking Schemes attached. This is a good revision material for your upcoming exams.
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