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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 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…
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…
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)…
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…
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 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…
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…
CONTRACT OF PLEDGE PDF A pledge is only a special kind of bailment, and chief basis of distinction is the object of the contract. Where the object of the delivery of goods is to provide a security for a loan or for the fulfilment of an obligation, that kind of bailment is pledge. ACCORDING TO…
CONTRACT OF 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 a delivery of…
