http://www.gazettebw.com/index.php?option=com_content&view=article&id=6174:contract-of-lease&catid=21:columns&Itemid=2

i came upon this article on one form of contract that many of us are involved in at one point in the life, "the contract of lease" many things can be leased including cars and houses. A lease is a contract between two parties giving rise to reciprocal obligations, the lessor (landlord) on the one hand, having to avail to the lessee (tenant) the property or thing to be leased for a particular period of time in exchange for rent or payment instances. a lease is different from sale as in the case of a lease ownership is not permanently transfered but temporary.

Income tax

Well, the month of April is one that most people get headache as it the month each an every citizen as well as residents have to file for tax, in this case income tax. first of all what is tax?

tax is a sum of money paid by the citizens to the government on the income or value of purchases of certain specific goods and services. the idea is to help the government raise some money to undertake development projects as well as to meet government expenditure. in the case of income tax, not every person pays the some amount as there are different categories for chargeable income depending on how much you get as income and you expenses.In general, a taxpayer is required to pay tax on all kind of earnings, including incomes from:

1. Business or profession
2. Employment
3. Dividends
4. Interest
5. Discounts
6. Rent
7. Royalties
8. Premiums
9. Pensions
10. Annuities
11. Others

http://www.hasil.gov.my/lhdnv3e/individuIndex.jsp?process=21000&menu=13&expandable=1

Duty to Act bona fide in the interest of the company

This simply implies that directors must at all times act in good faith in all matters relating to the company. What ever contracts they undertake their pupose shoud be to benefit the company and no one else, the director must ensure that his actions are consistent with the well being of the company's.

A case of Insurable Interest

http://www.deneysreitz.co.za/index.php/news/insurable_interest/

Brightside Enterprises (Pvt) Ltd v Zimnat Insurance Co Ltd 2003 (1) SA 318 (ZHC)

The judge in this case difenes insurable interest as not only arising from owenership of something in whole or part, but also from a relation to the thing. so in the case of Brightside Enterprises (Pvt) Ltd the judge concluded that since the employee of the petrol station was driving the vehicle to be repaired and obliged to do so he had an insurable interest in the vehicle.

Caveat emptor.

Latin phrase meaning " buyer beware". The rule implies that the buyer cannot assume that his/her purchase will be exactly as hoped or promised, hence the buyer alone is responsible for assessing the quality of a purchase before buying.

The rule basically encourage consumers to be on the look out for fraudulent transactions and be vigilant on buying any product.

http://www.answers.com/topic/caveat-emptor