'Live' file, what is included?

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I need to know what is included in a 'live' file. The lecturer at college gave us the question and told us to look it up on the internet, could you please help?

Also, the 3 vital elements in a contract are
1. Offer
2. Acceptance
3. Consideration

Could someone please offer me an explanation of exactly what consideration is?

Many thanks for any help.

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:'Live' file, what is included?

    Consideration is something you receive in return for something you have done. In contract law if you do work for someone and you agree a price the "consideration" is the fee for doing the work. Another everyday example is when you go to the shop. You buy, say, a pint of milk, the consideration the shopkeeper receives is the money to pay for the milk. Note, consideration can be in other forms for example, someone could "work off" a debt or offer other goods in payment.

    A live file is a file that is being used by users on a computer system. Presumably, you are doing some form of project relating to using computers.

    Steve
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:'Live' file, what is included?

    One way of remembering what consideration is to think of when there is no consideration.

    e.g. if you have a house for sale and you simply say to someone ill not sell it to anyone for a month while you raise the cash, there is no contract and you are entitled to sell it someone else because the potential buyer has provided no consideration.

    However if the buyer comes round and mows your lawn in exchange for not selling the house for one month then you cannot sell the house or you would be in breach of contract - both parties provided consideration!

    In summary consideration is where both parties have brought something to the exchange, and is simply not a promise from one to the other.

    In my humble opinion
    Adrian
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:'Live' file, what is included?
    peugeot wrote:
    A live file is a file that is being used by users on a computer system. Presumably, you are doing some form of project relating to using computers.Steve

    I really don't know if the 'live' file question is related to computers or not. I've just been told to find out what is included in a live file. Can you help?

    Thanks for the replies.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:'Live' file, what is included?

    Are you saying the term "live file" has something to do with law?

    I worked in computers for years and a live file simply meant a file in use or open. I tried finding an alternative meaning on google but didn't find any other definitions?

    edit: I did find lots of law pages talking about live files but all it means is it that it is a case thats open:

    http://www.journalonline.co.uk/article/1000734.aspx
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:'Live' file, what is included?

    Is that all you've been told in the question? It is quite an open ended question if that's all the information you've been given.

    I'm no computer whizz but I would have thought a "live file" would include things like data, programme files, processing things etc. I'm sorry I can't be any more specific (maybe others can provide some additional answers) but the question is very vague.

    Regards
    Steve
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:'Live' file, what is included?

    Hi,
    A live file could be for example if you were in the process of completing two sets of accounts and you were still working on one of them that would be the live file - it is still current or if you have two bank accounts and one is not in use the other is the live account.

    I am not very good at explaining things so hope i have confused the issue more.

    Sorry if I have but the question is a bit vague

    Sarah

    p.s. Sorry Lincs I have just read your post properly and found what i was trying to stay only you have said it in a much more coherent manner
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:'Live' file, what is included?

    I see now that it is indeed a very open ended question and extremely vague. I'll go along with the explanations you guys have given; seem perfectly reasonable to me.

    Many thanks to everyone for your help, hopefully I can return the favour sometime.
    Cheers.

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:'Live' file, what is included?

    No problem. Let us know how you get on with that question. It would be interesting to see if we are all right!!

    Regards
    Steve
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:'Live' file, what is included?

    Definitely, I'll let you know when I find out. Anyway, I've got faith in you guys - of course you're right :D
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:'Live' file, what is included?

    Good luck,
    sarah

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