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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › contract
what is a bilateral contract?
Do designated members have a limited liability or are they fully liable for the debts of partnership?
what is the difference between a wrongful and summary dismissal?
One where there are two parties involved in agreeing the contract
Fully liable
Completely different animals – the first is where a dismissal may (or may not!) be justified, but it’s not done according to how it should be done
Summary is where an employee has committed a wrong that is so heinous that there is no need for verbal nor written warnings – it’s straight out!