Goodwill is a long-term asset categorized as an intangible asset. Goodwill arises when a company acquires another entire business. The amount of goodwill is the cost to purchase the business minus the fair market value of the tangible assets, the intangible assets that can be identified, and the liabilities obtained in the purchase.
Related Terms. Person who binds himself or herself, or the entity he or she is authorized to represent, by his or her signature to the terms of an agreement. By becoming a signatory on the loan, he was responsible to pay the bank $500 every month by the 31st or he would be taken to court over his failure to pay.
The Joint Contracts Tribunal was established in the 1930s by the Royal Institute of British Architects (RIBA) and the National Federation of Building Trades Employers (NFBTE), to consider future proposals for amending the Form of Contract which had been published in 1931.hey were listed by the JCT in 2014 as the British Property Federation, the Contractors Legal Grp Limited, the Local Government Association, the National Specialist Contractors Council, the Royal Institute of British Architects, the Royal Institution of Chartered Surveyors and the Scottish Building Contract Committee.