The Banking Structure
The Indian Banking Structure Introduction “The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented” Josiah Stamp. The object of this report is to understand in depth the concept of what are banks, history of […]
Doctrine Of Ultra Vires
Explanation of Doctrine Of Ultra Vires with Landmark Case Law Doctrine of Ultra Vires‘Ultra’ means ‘beyond’ and ‘vires’ means ‘powers’. The term ultra vires for a company means actswhich are beyond the legal power and authority of the company, if an act is ultra vires it does notcreate any legal […]
Doctrine Of Indoor Management
Explanation of Doctrine Of Indoor Management with Landmark Case law Doctrine Of Indoor Management Doctrine of indoor management protects the interests of the outsiders, As per this doctrine the outsider is not suppose to have the knowledge regarding the internal management and functioningof the company and his or her knowledge […]
GIFT DEED
Important Highlights 1. Under Section 122 of the Transfer of Property Act, a Gift is the transfer of certain existing movable or immovable property made voluntarily and without consideration by one person called the Donor to another person called Donee and accepted by or on behalf of the Donee. 2. […]
Types of Contracts
A. Basis of Enforceability.i. Valid contract.ii. Void contract.iii. Voidable contract.iv. Illegal contract.v. Unenforceable contract. B. Basis of Formation.i. Express contractii. Implied contractiii. Tacit contractiv. Quasi-contractv. E contract C. Basis of Performance.i. Executedii. Executory a. Unilateral b. Bilateral A. Basis of Enforceability. i. Valid Contract. ICA, 2(h) All essential elements of […]
Meaning and Nature of Contract
A) Why do we need to study contract law. The basic purpose of contract law is to provide a framework within which individuals can freely contract and the contract can legally bind the contracting parties by the creation of laws which are applicable only to the very individuals that create […]
Offer and Types of Offers
1) Offer : Section 2 (a) of The Indian Contract Act, 1872. (Hereinafter, ICA). 2) Definition of offer : When one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that other to such act or abstinence, […]