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 ...

Personal Liability of an Agent to the Third Party.  As agent is only a connecting link between his principal and the third party, he cannot, as a ...

Difference between dissolution of Partnership and dissolution of firm : The dissolution of partnership between all the partners of a firm is called the ...

Contract of Indemnity:  A contract by which one party promises to save the other from a loss caused to him by the conduct of the promisor himself or ...

Rules regarding a minor's agreements are. As indicated by Section 3 of the Indian Majority Act 1875, as changed by the Majority (Amendment) Act, 1999, a ...

No consideration no contract exceptions . A promise without consideration cannot create a legal obligation. The general rule is that an agreement made ...

Contract of Sale: Section 4 (1) of the Sale of Goods Act defines contract of sales as a contract whereby the seller transfers or agrees to transfer the ...

Dissolution of Partnership and Dissolution of Firm : A change in business relations among partners is known as 'Dissolution of Partnership'. In the dissolution ...

Various types of damages that an aggrieved party may claim on breach of contract : On the basis of the provisions of Section 73 of Indian Contract Act, 1872 ...

Distinguish between Sale and hire purchase : Sale It may be made either orally or in writing. It is governed by the Sale of Goods, Act, 1930. The ...

Rights of an aggrieved party for breach of contract: Whenever there is a breach of a contract, the aggrieved party is entitled to any one or more of the ...

Forfeiture of Gratuity (Section 4 (6)] : Under the following circumstances gratuity payable to an employee may be forfeited. The gratuity of employee whose ...