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Author: commerceiets

SURETY IN BUSINESS LAW

Posted on April 2, 2020February 18, 2025 By commerceiets
SURETY IN BUSINESS LAW

RIGHTS OF SURETY A surety is a person giving a guarantee in a contract of guarantee. A person who takes responsibility to pay a sum of money, perform any duty for another person in case that person fails to perform such work. After making a payment and discharging the liability of the principal debtor, the…

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COMMERCIAL LAW

CONTRACT OF GUARANTEE NOTES

Posted on April 2, 2020February 28, 2025 By commerceiets
CONTRACT OF GUARANTEE NOTES

CONTRACT OF GUARANTEE NOTES Contract of Guarantee means a contract to perform the promises made or discharge the liabilities of the third person in case of his failure to discharge such liabilities. ACCORDING TO SECTION 126 OF INDIAN CONTRACT ACT, 1872 “A contract of guarantee is a contract to perform the promise or discharge the liability of the…

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COMMERCIAL LAW

CONTRACT OF INDEMNITY

Posted on April 2, 2020 By commerceiets No Comments on CONTRACT OF INDEMNITY
CONTRACT OF INDEMNITY

CONTRACT OF INDEMNITY The term Indemnity literally means “Security against loss”. In a contract of indemnity one party – i.e. the indemnifier promise to compensate the other party i.e. the indemnified against the loss suffered by the other. ACCORDING TO ENGLISH LAW “It is a promise to save a person harmless from the consequences of…

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COMMERCIAL LAW

DISCHARGE OF CONTRACT

Posted on March 31, 2020 By commerceiets No Comments on DISCHARGE OF CONTRACT
DISCHARGE OF CONTRACT

DISCHARGE OF CONTRACT Discharge of Contract implies termination of contractual obligations. This is because when the parties originally entered into the contract, the rights and duties in terms of contractual obligations were set up. Consequently when those rights and duties are put out then the contract is said to have been discharged. Once a contract stands discharged, parties…

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COMMERCIAL LAW

MEASUREMENT OF NATIONAL INCOME

Posted on March 30, 2020 By commerceiets No Comments on MEASUREMENT OF NATIONAL INCOME
MEASUREMENT OF NATIONAL INCOME

MEASUREMENT OF NATIONAL INCOME National income is the total money value of goods and services produced by a country in a particular period of time. The duration of this period is usually one year.Measurement of National income can be made by taking three viewpoints, namely production viewpoint, income viewpoint, and expenditure viewpoint. Based on these…

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MANAGERIAL ECONOMICS, MICRO ECONOMICS

NATIONAL INCOME IN INDIA

Posted on March 29, 2020 By commerceiets No Comments on NATIONAL INCOME IN INDIA
NATIONAL INCOME IN INDIA

NATIONAL INCOME IN INDIA The total net value of all goods and services produced within a nation over a specified period of time, representing the sum of wages, profits, rents, interest, and pension payments to residents of the nation. It is denoted by NNPFC. National Income in India is calculated by Income method, Product Method…

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MANAGERIAL ECONOMICS, MICRO ECONOMICS

PERFECT AND MONOPOLISTIC COMPETITION

Posted on March 28, 2020February 13, 2025 By commerceiets
PERFECT AND MONOPOLISTIC COMPETITION

DIFFERENCE BETWEEN PERFECT AND MONOPOLISTIC COMPETITION In this post you will learn about perfect and monopolistic competition differences. PERFECT COMPETITION A Perfect Competition market is that type of market in which the number of buyers and sellers is very large, all are engaged in buying and selling a homogeneous product without any artificial restrictions and…

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KEY DIFFERENCES, MANAGERIAL ECONOMICS, MICRO ECONOMICS

MONOPOLY AND MONOPOLISTIC COMPETITION

Posted on March 28, 2020February 13, 2025 By commerceiets
MONOPOLY AND MONOPOLISTIC COMPETITION

DIFFERENCE BETWEEN MONOPOLY AND MONOPOLISTIC COMPETITION MONOPOLY The word monopoly has been derived from the combination of two words i.e., ‘Mono’ and ‘Poly’. Mono refers to a single and poly to control. In this way, monopoly refers to a market situation in which there is only one seller of a commodity. There are no close…

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KEY DIFFERENCES, MANAGERIAL ECONOMICS, MICRO ECONOMICS

PRODUCT DIFFERENTIATION STRATEGY

Posted on March 28, 2020March 25, 2025 By commerceiets
PRODUCT DIFFERENTIATION STRATEGY

PRODUCT DIFFERENTIATION STRATEGY In this post you will learn about Product differentiation strategy under Monopolistic competition Product differentiation is the means used by a firm in a monopolistic competitive market with many firms selling similar products to differentiate its product from that of other firms. Product Differentiation strategy is adopted to capture more market share…

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MICRO ECONOMICS, MANAGERIAL ECONOMICS

MONOPOLISTIC COMPETITION MARKET- DETAILED NOTES

Posted on March 28, 2020February 18, 2025 By commerceiets
MONOPOLISTIC COMPETITION MARKET- DETAILED NOTES

MONOPOLISTIC COMPETITION The concept of monopolistic competition was put-forth by an American economist Prof. E.H. Chamberlin in his popular book, “The Theory of Monopolistic Competition” published in 1933. Monopolistic competition is a type of imperfect competition market structure in which a large number of firms produce differentiated products and there are no barriers to entry. ACCORDING…

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MICRO ECONOMICS, MANAGERIAL ECONOMICS

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