STATUTORY TRANSACTIONS (SALES OF GOODS ACT, 1930)
According to Potheir the contract of sale is “consensual, bilateral and commutative”, it means that the sale must be consensual that means parties must give...
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CONTRACT FOR WORK OR LABOUR
In case of a contract for the “sale of goods”, the delivery of the goods involved is a primary condition. On the other hand, in...
RIGHTS & DUTIES OF PARTNERS SECTION 17
Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for...
MINOR ADMITTED TO THE BENEFITS OF PARTNERSHIP SECTION 30 OF PARTNERSHIP ACT
Who is Minor? A minor is a person who is not at the age of majority, i.e., below the age of 18. He is prohibited...
UNREGISTERED FIRM SECTION 69 OF PARTNERSHIP ACT 1932
Partnership is defined under section 4 of partnership act, 1932. It says that, partnership is a relation between two or more parties who mutually agree...
DOCTRINE OF INDOOR MANAGEMENT
This doctrine states about the right of presumption available to an outsider dealing with the company. The doctrine of indoor management, also known as the...
ADJUDICATORY BODY (MADRAS B A vs UOI)
HIERARCHY OF ADJUDICATION 3. SUPREME COURT 2. NATIONAL COMPANY LAW APPELLATE TRIBUNAL 1. NATIONAL COMPANY LAW TRIBUNAL There are two adjudicatory bodies under companies act,...
WINDING UP OF COMPANY
Winding up (or liquidation) is the process by which a company’s assets are collected and sold to pay off its debts. Any monies remaining after...
BOARD OF DIRECTORS
What is Board of Directors? A board of directors (BoD) is the governing body of a corporation or other organization, whose members are elected by...
LIFTING THE CORPORATE VEIL
What is corporate veil? The Corporate Veil Theory is a legal concept which separates the identity of the company from its members. Hence, the members...