What is the difference between Tax and Duty?

✨A question emerged at one of our legal English courses:

What is the difference between Tax and Duty?

➡️Tax is a mandatory obligation payable to the government levied on income, wealth, services, sales etc.

➡️Duty is a fee charged by the government on manufacture and import / export of goods levied on goods and financial transactions.

Duty Tax on Imports and Exports: Meaning and Examples

➡️A duty is a tax levied on certain goods, services, or other transactions. Governments commonly impose customs duties and other taxes on imports and exports. Duties, which are a form of revenue, are enforceable by law and may be imposed on commodities or financial transactions instead of individuals. The term duty also refers to the responsibilities held by an individual, especially someone in a position of power.

➡️A duty is a form of taxation levied on certain goods, services, or other transactions that are imported and exported

➡️Duty rates are a percentage determined by the total value of the goods paid for in another country.

➡️Duties provide a form of commerce protection for jobs, the economy, the environment, and other interests by controlling the influx and outflow of merchandise.

➡️A duty may also be someone’s moral or fiduciary responsibility.

➡️Governments impose taxes on individuals and companies that make or receive shipments internationally. These levies must be paid before delivery can be made. These levies are called customs or import duties. These are tariffs or taxes imposed on goods transported across international borders.

➡️Customs duty rates are a percentage determined by the total value of the goods paid for in another country. The quality, size, or weight of the product are not determining factors.1 The Harmonized Tariff System of the United States is used domestically as a reference for applicable tariffs on merchandise imported to the country.2

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Check out our video for more: https://www.youtube.com/watch?v=KcjB5vBH4ec&t=3s

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Hi, I am Iulia,
#Englishcoach, #copywriter #editor #proofreader #chieffairytalerofficer #jobhelper #journalist

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LEGAL ENGLISH: What is a covenant?

✨ Quora answers ✨

In its broadest sense, a covenant is a promise, agreement, or contract between two parties. As part of the covenant, the two parties agree that certain activities will or will not be carried out.

Covenants in finance most often relate to terms in a financial contract, such as a loan document or bond issue stating the limits at which the borrower can further lend. Covenants in religion often convey the binding relationship between a deity and humanity.

➡️Covenants are agreements between multiple parties that create a legally binding agreement on how each party is to perform.
➡️Covenants can either promote activity to occur (positive covenant) or disallow an event or condition (negative covenant).
➡️Debt covenants are most common, as they place financial covenants on the borrower and lender as part of the loan agreement.
➡️Covenants are legally binding clauses, and if breached will trigger compensatory or other legal action.
➡️Many sectors like finance, real estate, law, and religion have covenants, though it is used in many different contexts across each group.

Regarding business, covenants are most often represented in terms of financial ratios that must be maintained, such as a maximum debt-to-asset ratio or other such ratios. They cover various aspects, from minimum dividend payments to working capital levels. If a covenant is broken, the lender can call back the obligation or reduce risk. There are two primary types: affirmative and negative covenants, and a third type, financial covenants, sometimes separated into its own category.

Types of Covenants
Different industries and sectors have different types of covenants. In general, it’s pretty common to see both positive and negative covenants across different industries.
➡️Debt Covenants
➡️Property Covenants
➡️Law Covenants
➡️Religious Covenants

Check out our video: https://www.youtube.com/watch?v=zPV_97cGVNs&t=9s

Read more about Implied Terms In A Contract: https://blog.seocopywriting.ro/2024/11/08/what-are-implied-terms-of-the-contract-and-its-examples/

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Tips For Job Seekers: What Is The Difference Between Blue-Collar And White-Collar Jobs?

“Blue-collar” and “white-collar” jobs are two distinct classifications of employment that differ in terms of the type of labor involved, the work setting and the level of education required.

Blue-collar jobs tend to entail manual labor and working with hands and tools, while white-collar jobs comprise office, administrative and managerial work. Blue-collar work generally occurs in factories, warehouses, outdoors, construction sites and people’s homes, while white-collar workers are stationed at a desk.

The term “blue collar” was first coined in the early 20th century when laborers donned durable fabrics, like blue denim or chambray. The dark color would help disguise the dirt and grease, which were a part of their job.

The term “white collar,” popularized by American novelist Upton Sinclair in the 1930s, refers to the crisp, button-down, white shirts that are worn by business professionals.

Because white-collar jobs have a higher barrier to entry, in terms of education, and earn an annual salary rather than an hourly wage, these roles are often perceived as more prestigious and desirable. However, both categories of workers are integral to the functioning of society and prop up the nation’s economy.

Check out our video: https://www.youtube.com/watch?v=2sCPDmXXQ8A&t=5s

Looking to level up your English-speaking game? Whether it’s nailing those corporate presentations, acing employment interviews, or slaying any public speaking situation, I’m here to help you shine! Let’s unlock your full potential together!

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contact@cursinengleza.ro
…….
Hi, I am Iulia,
#Englishcoach, #copywriter #editor #proofreader #chieffairytalerofficer #jobhelper #journalist

Your friendly teacher of all things under the sun: legalese, business, finance, marketing, copywriting, and creative writing.

We can work together to craft your personalized content, polish your English-speaking skills, and secure your place in the sun.

Without excellent English, there’s no path forward!

PS: If you want to work with me, book a preliminary free session, or ask me a question, please include a note in your connection request.

Photo by the author.

Spring

“If winter comes, can spring be far behind?”- Percy B. Shelley

Pink magnolias and the blue sky 💙 picture of the best of Springs

What are implied terms of the contract and its examples?

Ouora Answers: https://www.quora.com/What-are-implied-terms-of-the-contract-and-its-examples/answer/Iulia-Halatz

Topics for our classes

Implied terms are not made express (like express terms) within the contract but may be implied into the contract in the following ways:

by custom: a term can only be implied into a contract by custom if there is no express term to the contrary. These may be terms which are customary in the market in which the contract is made or have been in previous dealings between the parties.

by statute: various statutes imply terms intro different specific contracts. For example, the condition that employment contracts will be automatically transferred is implied under statute in the contract for the sale of the business.

by common law: by the intention of the parties, if it is a term which is necessary to make the contract work.

See, by contrast, the express terms:

Express terms are set out and stipulated expressly in the contract.

……………………………
Hi, I am Iulia,
#Englishcoach, #copywriter #editor #proofreader #chieffairytalerofficer #jobhelper #journalist

Your friendly teacher of all things under the sun: legalese, business, finance, marketing, copywriting, and creative writing.
We can work together to craft your personalized content, polish your English-speaking skills, and secure your place in the sun.
Without excellent English, there’s no path forward!

PS: If you want to work with me, book a preliminary free session, or ask me a question, please include a note in your connection request.

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❗️ De 20 ani oferim cursuri de limba engleză pentru limbaje de specialitate:

cursuri de engleză juridică,
✅cursuri de engleză pentru afaceri,
✅cursuri de engleză financiar-bancară,
✅cursuri de contabilitate în engleză,
✅cursuri pentru IT,
✅cursuri de marketing,
✅cursuri de creative writing,
✅cursuri de pregătire pentru examenul de traducător autorizat,
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❗️❗️❗️ Am dezvoltat un curs nou, curs de engleză pentru Inteligența Artificială, pentru a te pregăti pentru abilitatea viitorului – abilitatea de a pune cele mai bune întrebări inteligenței artificiale.

➡️Aceste cursuri se adresează celor care înțeleg că abilitatea de a vorbi fluent engleza este una dintre cele mai importante în orice domeniu. Datorită activităților practice (unde vei comunica foarte mult în engleză), vei deveni o persoană convingătoare și vei înțelege “în sfârșit” cum să vorbești o limbă străină fără frici sau bariere.

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𝐂𝐮𝐫𝐬𝐮𝐥 𝐢𝐧𝐭𝐞𝐧𝐬𝐢𝐯 𝐝𝐞 𝐞-𝐦𝐚𝐢𝐥-𝐮𝐫𝐢 𝐢̂𝐧 𝐥𝐢𝐦𝐛𝐚 𝐞𝐧𝐠𝐥𝐞𝐳𝐚̆ (Creative Business Writing) și Cursul Intensiv de Gramatica Limbii Engleze sunt 𝐠𝐫𝐚𝐭𝐮𝐢𝐭e 𝐩𝐞𝐧𝐭𝐫𝐮 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐢𝐥𝐞 𝐜𝐚𝐫𝐞 𝐚𝐜𝐜𝐞𝐬𝐞𝐚𝐳𝐚̆ 𝐮𝐧 𝐚𝐥𝐭 𝐜𝐮𝐫𝐬 𝐝𝐞 𝐥𝐢𝐦𝐛𝐚 𝐞𝐧𝐠𝐥𝐞𝐳𝐚̆ (𝐥𝐢𝐦𝐛𝐚𝐣 𝐝𝐞 𝐚𝐟𝐚𝐜𝐞𝐫𝐢, 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐫-𝐛𝐚𝐧𝐜𝐚𝐫, 𝐣𝐮𝐫𝐢𝐝𝐢𝐜, 𝐦𝐚𝐫𝐤𝐞𝐭𝐢𝐧𝐠, 𝐦𝐞𝐝𝐢𝐜𝐚𝐥, 𝐈𝐓, 𝐜𝐨𝐩𝐲𝐰𝐫𝐢𝐭𝐢𝐧𝐠).

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➡️Printre subiectele abordate la curs menționăm: 𝐁𝐥𝐚𝐜𝐤 𝐒𝐰𝐚𝐧𝐬 (𝐁𝐥𝐚𝐜𝐤 𝐒𝐰𝐚𝐧 𝐄𝐯𝐞𝐧𝐭𝐬: 𝐔𝐧𝐩𝐫𝐞𝐝𝐢𝐜𝐭𝐚𝐛𝐥𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐃𝐢𝐬𝐚𝐬𝐭𝐞𝐫𝐬), 𝐕𝐀𝐓 (𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐕𝐀𝐓: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐂𝐡𝐚𝐧𝐠𝐞𝐬 𝐚𝐧𝐝 𝐈𝐦𝐩𝐚𝐜𝐭𝐬), 𝐔𝐬 𝐉𝐨𝐛 𝐌𝐚𝐫𝐤𝐞𝐭 𝐁𝐨𝐨𝐦 (𝐔𝐒 𝐉𝐨𝐛 𝐌𝐚𝐫𝐤𝐞𝐭 𝐁𝐨𝐨𝐦: 𝐓𝐨𝐩 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 𝐭𝐨 𝐖𝐚𝐭𝐜𝐡!), 𝐓𝐡𝐞 𝐒𝐡𝐚𝐫𝐢𝐧𝐠 𝐄𝐜𝐨𝐧𝐨𝐦𝐲 (𝐖𝐡𝐚𝐭 𝐈𝐬 𝐭𝐡𝐞 𝐒𝐡𝐚𝐫𝐢𝐧𝐠 𝐄𝐜𝐨𝐧𝐨𝐦𝐲?), 𝐋𝐨𝐨𝐩𝐡𝐨𝐥𝐞𝐬 (𝐋𝐨𝐨𝐩𝐡𝐨𝐥𝐞𝐬: 𝐓𝐡𝐞 𝐋𝐞𝐠𝐚𝐥 𝐆𝐫𝐞𝐲 𝐀𝐫𝐞𝐚𝐬), 𝐂𝐨𝐧𝐭𝐫𝐚𝐜𝐭𝐬, 𝐔𝐧𝐢𝐪𝐮𝐞 𝐒𝐞𝐥𝐥𝐢𝐧𝐠 𝐏𝐨𝐢𝐧𝐭, 𝐓𝐨𝐩 𝟓𝟎 𝐋𝐞𝐠𝐚𝐥 𝐓𝐞𝐫𝐦𝐬 𝐘𝐨𝐮 𝐍𝐞𝐞𝐝 𝐭𝐨 𝐊𝐧𝐨𝐰: 𝐀 𝐁𝐞𝐠𝐢𝐧𝐧𝐞𝐫’𝐬 𝐆𝐮𝐢𝐝𝐞 𝐭𝐨 𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐂𝐨𝐮𝐫𝐭𝐫𝐨𝐨𝐦 𝐓𝐞𝐫𝐦𝐬

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➡️Programele noastre sunt personalizate. Organizăm cursuri de grup sau cursuri individuale.
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MASTER THE ART OF PRESENTATION: Start with a Villain

Many executives start presentations about products or initiatives with a vague theme statement, often expressed with as much pith as a puff of smoke: “We have a new focus on customer satisfaction,” or “Our current strategic goals are execution and innovation.” But this approach is not only lacking but lackluster. Did Shakespeare begin Hamlet by saying “This is a play about indecision”? Of course not.

Villains in business often aren’t animate. In the mind of the consumer, even mere frustration is a recognizable evil. Or the villain could be a transaction that is incomplete or unsatisfying (anything from a faulty product to cold coffee or warm ice cream). The victim is the customer or the person whose problem you’re trying to solve. And doing so will make your company or team the hero.
This villain-victim-hero framework can be applied across many industries.

Check out the video: https://www.youtube.com/watch?v=nUXak-_rQ-I&t=6s

Looking to level up your English-speaking game? Whether it’s nailing those corporate presentations, acing employment interviews, or slaying any public speaking situation, I’m here to help you shine! Let’s unlock your full potential together!

Join our courses!
contact@cursinengleza.ro
………………………………..
Hi, I am Iulia,
#Englishcoach, #copywriter #editor #proofreader #chieffairytalerofficer #jobhelper #journalist

Your friendly teacher of all things under the sun: legalese, business, finance, marketing, copywriting, and creative writing.
We can work together to craft your personalized content, polish your English-speaking skills, and secure your place in the sun.
Without excellent English, there’s no path forward!

PS: If you want to work with me, book a preliminary free session, or ask me a question, please include a note in your connection request.

Photo by the author.

LEGAL ENGLISH: What are implied terms of the contract and its examples?

What are implied terms of the contract and its examples?

Quora answers
I love answering on Quora.

Implied terms are not made express (like express terms) within the contract but may be implied into the contract in the following ways:

by custom: a term can only be implied into a contract by custom if there is no express term to the contrary. These may be terms which are customary in the market in which the contract is made or have been in previous dealings between the parties.

by statute: various statutes imply terms intro different specific contracts. For example, the condition that employment contracts will be automatically transferred is implied under statute in the contract for the sale of the business.

by common law: by the intention of the parties, if it is a term which is necessary to make the contract work.

See, by contrast, the express terms:

Express terms are set out and stipulated expressly in the contract.

Check out my answer on Quora: https://www.quora.com/What-are-implied-terms-of-the-contract-and-its-examples/answer/Iulia-Halatz

Photo – Pexels

Fairy tales

“If you want your children to be intelligent, read them fairy tales. If you want them to be more intelligent, read them more fairy tales.”
Albert Einstein

Art – Frog Prince by Annie Stegg