Consideration and Downstream: Difference between pages

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''Contract law.''
In relation to guarantees, a ''downstream guarantee'' is one given by a parent company in relation to the obligations of one of its subsidiary companies.


A required element in a contract under English law by which something of value, including a promise, is exchanged for the act or promise of another.


Note that other legal systems may differ significantly.
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For example in Scots law a unilateral undertaking that is intended to have legal effect, such as a promise, is legally binding (without the need for consideration to pass from the recipient of the promise).
A ''downstream loan'' is a loan made by a parent company to one of its subsidiary companies.




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More generally, thoughtfulness and sensitivity towards others.
In the oil and gas industry the ''downstream business'' refers to distributing and selling refined and synthetic oil and gas products, together with the refining of crude oil.
 
 
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To act with courtesy and consideration is one of the principles of the ACT's Ethical Code.




== See also ==
== See also ==
* [[ACT Competency Framework]]
* [[Guarantee]]
* [[ACT Ethical Code]]
* [[Upstream]]
* [[Consensus in idem]]
* [[Legal implications of cash pooling structures]]
* [[Contract]]
* [[Courtesy]]
* [[Quid pro quo]]
* [[Underwriting]]
 
[[Category:Compliance_and_audit]]
[[Category:Ethics]]
[[Category:Treasury_operations_infrastructure]]

Revision as of 15:56, 11 May 2016

1.

In relation to guarantees, a downstream guarantee is one given by a parent company in relation to the obligations of one of its subsidiary companies.


2.

A downstream loan is a loan made by a parent company to one of its subsidiary companies.


3.

In the oil and gas industry the downstream business refers to distributing and selling refined and synthetic oil and gas products, together with the refining of crude oil.


See also