NOTES - COMMERCEIETS

INTERNATIONAL BUSINESS

July 18, 2020February 7, 2025 commerceiets

Compare and contrast international business with domestic business. Also explain the complexities of the international business? INTERNATIONAL BUSINESS: International business consists of business transactions between parties from more than one country. The parties involved in such transactions may include private individuals, individual companies, groups of companies, or governmental agencies. ACCORDING TO DENIAL AND LEE “International…

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KEY DIFFERENCES, INTERNATIONAL BUSINESS

CONTRACT OF SALE OF GOODS

May 17, 2020March 25, 2025 commerceiets

CONTRACT OF SALE OF GOODS 1930 Contract of sale of goods is a contract in which the seller transfers or agrees to transfer the property in goods to the buyer for a price. According to Section 4 of the Sales of Goods Act, 1930 Contract of sale of goods means “a contract where by the seller transfers…

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COMMERCIAL LAW

CONTRACT OF AGENCY

April 9, 2020March 25, 2025 commerceiets

CONTRACT OF AGENCY Agency can be defined as the relationship between two persons, wherein a person has the authority to act on behalf of another, bind him/her into a legal relationship with the third party. There are two parties in a contract of agency – principal and agent. Contract of Agency is based on the…

DIFFERENCE BETWEEN LLP AND PARTNERSHIP

April 6, 2020February 9, 2025 commerceiets

DIFFERENCE BETWEEN LLP AND PARTNERSHIP LIMITED LIABILITY PARTNERSHIP A Limited Liability Partnership, popularly known as LLP combines the advantages of both the Company and Partnership into a single form of organization. Limited Liability Partnership (LLP) is a new corporate form that enables professional knowledge and entrepreneurial skill to combine, organize and operate in an innovative…

KEY DIFFERENCES, BUSINESS MANAGEMENT, COMMERCIAL LAW, PARTNERSHIP ACCOUNTS

DIFFERENCE BETWEEN LLP AND COMPANY

April 6, 2020 commerceiets No Comments

DIFFERENCE BETWEEN LLP AND COMPANY LIMITED LIABILITY PARTNERSHIP A Limited Liability Partnership, popularly known as LLP combines the advantages of both the Company and Partnership into a single form of organization. Limited Liability Partnership (LLP) is a new corporate form that enables professional knowledge and entrepreneurial skill to combine, organize and operate in an innovative…

COMMERCIAL LAW, BUSINESS MANAGEMENT, KEY DIFFERENCES, PARTNERSHIP ACCOUNTS

LIMITED LIABILITY PARTNERSHIP

April 6, 2020 commerceiets No Comments

LIMITED LIABILITY PARTNERSHIP Limited Liability Partnership enterprise has been introduced in India by enacting the Limited Liability Partnership Act, 2008. LIMITED LIABILITY PARTNERSHIP Act was notified on 31.03.2009. A Limited Liability Partnership, popularly known as LLP combines the advantages of both the Company and Partnership into a single form of organization. Limited Liability Partnership (LLP)…

COMMERCIAL LAW, BUSINESS MANAGEMENT, PARTNERSHIP ACCOUNTS

KEYNESIAN PSYCHOLOGICAL LAW OF CONSUMPTION

April 5, 2020February 8, 2025 commerceiets

KEYNESIAN PSYCHOLOGICAL LAW OF CONSUMPTION John Maynard Keynes has explained the consumption behaviour of the household sector through the Psychological Law of Consumption.in his work – The General Theory of Employment, Interest and Money published in 1936. Therefore, this law is also known as “Keynesian psychological law of consumption”. It provides a key part of…

MICRO ECONOMICS, MANAGERIAL ECONOMICS

CONSUMPTION FUNCTION

April 5, 2020February 28, 2025 commerceiets

CONSUMPTION FUNCTION Consumption function or propensity to consume refers to the general income consumption relationship. It represents functional relationship between two aggregates i.e., total consumption and total income. It shows how consumption expenditure varies with given changes in income. ACCORDING TO K. KURIHARA “Consumption represents amount of consumer expenditure made at a given level of…

CONSUMER PROTECTION ACT 1986

April 5, 2020March 25, 2025 commerceiets

CONSUMER PROTECTION ACT Consumer Protection Act 1986 is a law to protect the interests of the consumers. This act was inevitable to resolve a large number of pending consumer complaints in consumer courts across the country. This is a Central Govt. Act applicable in all states of India, to provide for the protection of the…

COMMERCIAL LAW

DIFFERENCE BETWEEN PLEDGE AND BAILMENT

April 4, 2020 commerceiets No Comments

DIFFERENCE BETWEEN PLEDGE AND BAILMENT BAILMENT The word ‘Bailment’ is derived from the French word ‘Bailer’ which means to deliver. The etymological meaning of bailment is “handing over” or “change of possession of goods”. In legal sense, it involves change of possession of goods from one person to another for some specific purpose. Bailment is…

COMMERCIAL LAW, KEY DIFFERENCES