Business and Industrial Law

A promise without consideration cannot create a legal obligation. The general rule is that an agreement made without consideration is void. This rule is ...

Acceptance. Section 2 (b) of the Indian Contract Act, 1872 defines acceptance in these words: When one person to whom the proposal is made ...

Meaning of offer : Section 2(a) of the Indian Contract Act, 1872 defines proposal or offer as follows : When one person signifies to another his willingness to ...

Section 2 (h) of the Indian Contract Act, 1872 defines a contract as an agreement enforceable by law. In other words, an agreement which can be enforced in a ...

In simple words, a contract of sale of goods is a contract whereby a seller transfers the ownership in goods to buyer or agrees to transfer it to the buyer ...

Consent When two parties enter into a contract the first thing that is required is perfect mutual understanding regarding the subject matter of the ...

On the basis of the extent of their authority, agents may be : General agent: A general agent is one who is employed to transact all acts which are ...

Partnership Deed. The document containing the respective rights and obligations of the members of a partnership is called a partnership deed. It should be ...

Provisions relating to deductions for services rendered under the Payment of Wages Act, 1936. A deduction shall not be made from the wages of an employed ...

Special provisions of the Payment of Bonus Act, 1965 in respect of new establishment: The Payment of Bonus Act, 1965 makes special provisions with regard ...

Various rights and duties of a partner under 'The Partnership Act' : Subject to contract between the partners. 'The Partnership Act' confers the following ...

Minimum Bonus (Section 10): The minimum bonus which an employer is required to pay, even if he suffers losses during the accounting year or there is no ...

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