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The highest and best use of the site is to demolish the house and sell the site as a commercial lot. The market value would be $225,000 ($250,000 site value minus $25,000 demolition cost). However, if the demolition costs rose to $55,000, the highest and best use would be the existing residential use, because the value as a commercial lot (now ...
Peter principle. The Peter principle is a concept in management developed by Laurence J. Peter which observes that people in a hierarchy tend to rise to "a level of respective incompetence": employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent, as skills in one job do not ...
A principle is a fundamental truth or proposition that serves as the foundation for a system of beliefs or behavior or a chain of reasoning. [2] That is a guide for behavior or evaluation. In law, it is a rule that has to be or usually is to be followed. It can be desirably followed, or it can be an inevitable consequence of something, such as ...
e. The best evidence rule is a legal principle that holds an original of a document as superior evidence. The rule specifies that secondary evidence, such as a copy or facsimile, will be not admissible if an original document exists and can be obtained. [1] The rule has its roots in 18th-century British law, [2] at a time when copies would be ...
says that the best is the enemy of the good.) Previously, around 1726, in his Pensées, Montesquieu wrote "Le mieux est le mortel ennemi du bien" (The best is the mortal enemy of the good). Antecedents. Aristotle and other classical philosophers propounded the principle of the golden mean which counsels against extremism in general.
He was young, not long out of college and fresh off military service in Korea, when he was appointed principal of Hilton Head Island’s first consolidated elementary school in 1954.
Undisclosed principal. In agency law, an undisclosed principal is a person who uses an agent for negotiations with a third party who has no knowledge of the identity of the agent's principal. Often in such situations, the agent pretends to be acting for themselves. As a result, the third party does not know to look to the real principal in a ...
Apparent authority refers to a situation where a reasonable third party would understand that an agent had authority to act. This means a principal is bound by the agent's actions, even if the agent had no actual authority, whether express or implied. It raises an estoppel because the third party is given an assurance, which he relies on and ...