Rules governing consideration in a Contract The following are the Rules governing consideration in a contract. Consideration must move at the desire of the promisor. Consideration may Move
What is Consideration in a Contract? Consideration is the foundation of every contract. The law enforces only those promises that are made for consideration. An agreement without consideration
What is a Void Agreement? An agreement, which is not enforceable by law, is void agreement. A void contract should be distinguished from void agreement. The differences between them
What is Stranger to Contract or Privity of Contract? The expression “Privity of Contract” is a doctrine, which means stranger to a contract. It means that a person,
Definition of Combination Trust In the words of Haney, combination trusts are, a form of business organization established through temporary consolidation in which the stock-holders of the constituent organizations
Social Responsibilities of Business towards Community The business owes a great irresponsibility to the community in various directions. Some of the major areas where business can and does contribute
What is Single Point Tax? Single Point taxation means imposition of tax at only one point between the production and the sale of goods to ultimate consumers. The
Ethical Issues in Advertising Ethics are moral principles and values that govern the actions and decisions of an individual or group. The decisions of marketers in advertising should
Negative contribution of banks for the growth of bad loans or Non-performing assets The following are some of the reasons how banks are responsible for the growth of
What are Non-Performing Assets? A term loan shall be treated as a non-performing asset (NPA) when the payment of interest and/or installment of principal remains overdue for a