Business Laws E-Book

Rittik Chandra

• Herausgeber: BookRix
• Kategorie: Fachliteratur
• Sprache: Englisch

Veröffentlichungsjahr: 2013

Beschreibung

Business law consists of many different areas typically taught in law school curricula, including: Contracts, the law of Corporations and other Business Organizations, Securities Law, Intellectual Property , Antitrust, Secured Transactions, Commercial Paper, Income Tax, Pensions & Benefits, Trusts & Estates, Immigration Law, Labor Law, Employment Law and Bankruptcy. It is a branch of law that examines topics that impact the operation of a business.

Leseprobe

Rittik Chandra

Business Laws

TO THE YOUTH OF THE WORLDBookRix GmbH & Co. KG81371 Munich

BUSINESS LAWS

BUSINESS LAWS

BY

RITTIK CHANDRA

Published by:

RITTIK CHANDRA

RITTIK PUBLICATION

93, Mahatma Gandhi Road, 1st Floor

Kolkata- 700007, India

Mobile No.: [phone]

E-mail: [email protected]

Website: www.rittikpublication.in

Cover designed by: RITTIK CHANDRA

© All rights reserved by RITTIK CHANDRA

Dedicated to the youth of the world

CHAPTER-1: Basic Concepts

Contract:

“An agreement enforceable by Law is a Contract.”

Implied contract:

An agreement which is not made by written or spoken words of parties but it is evidenced from the acts or conduct of the parties or according to prevailing conditions.

Quasi contract:

The contract which is not created by proposal and acceptance but imposed by law based on the principle of equity.

Difference between void and voidable contract:

A void contract is ab-initio void hence, cannot be enforced by law on the other hand enforceability of a voidable contract, depends upon the will of the aggrieved party.

Difference between void Agreement and Void contract:

Void agreement is void from beginning (ab-initio) whereas void contract becomes void when aggrieved party chooses to rescind it.

General and standing offer:

The offer made to the public in general and any one can receive, it is general offer, whereas standing offer is an offer made as tender to supply goods as and when required amounts to a standing offer.

Cross offer and counter offer:

When two parties exchange identical offers in ignorance at the time of each other’s offer, it is called cross offer, on the other hand when offered offers variations in the original offer, it is called as counter offer.

Executed and executory contract:

A contract in which all the parties to the contract have performed their respective obligation is known as executed contract, whereas Executory contracts is one in which all or something still remain to be fulfilled or performed by the parties.

Bilateral and Unilateral contract:

Bilateral contract is one in which both the parties exchange a promise to each other, which is to be performed in future, but still outstanding hence, it is called bilateral contract and similar to executory contract on the other hand, Unilateral contract is one in it a promisor promises to do something. In such a contract, promisor binds himself to perform his promise but the offerer does not do so. Therefore, it is called Unilateral Contract.

Capacity to contract: The term capacity to contract means competence to legally enter into a contract that is legally binding to the parties.

Minor:

A minor is a person who has not completed eighteen years of age. Who has not completed the age of 21 years in case the court has appointed guardian or superintendence of court of wards of minor’s property.

Consent:

According to Section 13 “Two or more persons are said to consent when they agree upon the same thing in the same sense.” It is Unison or meeting of mind or consensus ad idem.

Coercion:

According to Section 15 of Indian Contract Act, 1872, “Committing any act forbidden by Indian Penal Code or detaining or threatening to detain property of another for getting consent is coercion.”

Undue influence: