Although the fundamentals of a bill of exchange are very close to that of a promissory note, yet there are several points of distinction between the two, which
Law regarding Material Alteration Section 87 of the Negotiable Instrument act clearly states that any material alteration of a negotiable instrument renders the same void as against anyone
Understanding Fixed and Floating charges on Property The company, when borrows money like any other person can give security to its creditors. When a security is given, a
Rights of Surety against Creditor Surety has the following rights against his creditor. 1. Rights in Case of Fidelity Guarantee In case of fidelity guarantee i.e., guarantee as
Important differences between Interim dividend and Final dividend An interim dividend differs from a final dividend in the following respects: 1. The Board of Directors declares an interim
Rights of Partners in a Business Partnership 1. Right to Take Part in the Conduct of the Business Sec. 12(a) stipulates that each partner in a business partnership
When is an Object or Consideration Unlawful? The circumstances which would make a consideration as well as object of an agreement unlawful, are discussed as under 1. Forbidden
Discharge of Surety – Situations when liability of surety comes to an end A surety’s liability comes to an end under any of the following circumstances. By notice
Importance of Indian Contract Act, 1872 Law of contract is the most important branch of mercantile law. It determines the circumstances under which promises made by the contracting