Differences between Promissory Note and Bill of Exchange
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 are …
Tag: business law
What are the effects of Material Alteration?
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 who …
Director of a Company | Appointment | Vacation of Office
Director of a Company A company is an artificial person. As such, it cannot act on its own; it has to depend on human beings to carry on its …
Fixed and Floating Charge | Meaning | Difference | Crystallisation
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 charge …
Rights of Surety against Creditor, Principal Debtor, Co-Surety
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 to …
6 Differences between Interim dividend and Final dividend
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 dividend …
Rights of Partners in a Business Partnership
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 have …
When is an Object or Consideration Unlawful?
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 by …
Discharge of Surety | Circumstances when Liability of Surety comes to end
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 of …
Indian Contract Act 1872 | Nature | Importance
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 parties …