Remedies for Breach of Contract
Remedies for Breach of Contract Parties to a contract are obliged to perform their respective promises. But situation arises where one of the parties to a contract may break the contract …
Tag: business law
Discharge of Contract by Impossibility | Types
Discharge of Contract by Impossibility If the performance of a contract is impossible, the contract is discharged. This is because the parties cannot perform their respective obligations. Types of …
Discharge of contract | By Performance | By Mutual Agreement
Discharge of Contract by Performance When the parties to a contract perform their respective promises, the contract is said to have been performed. This is the normal and natural …
Classification of Agents on the basis of extent of authority
Classification of agents on the basis of extent of Authority On the basis of extent of authority, the agents may be classified as Agents, General Agents and Universal Agents. …
What are the requisites of valid ratification in contracts?
10 Important requisites of Valid Ratification The requisites of valid ratification are as follows: 1. The Principal should be in Existence The agent must expressly contract an agent for …
Grounds for compulsory winding up of a company
Winding up refers to the last stage in the life of a company. It refers to a legal process through which a company is put to an end. Methods …
No Par Share or Stock | Meaning | Merits | Limitations
What is No Par Share or Stock? No par stock or share means that share or stock which does not have any face value or par value. Recently in …
Differences between a Share Certificate and a Share Warrant
Distinction between a Share Certificate and a Share Warrant The following are some of the differences between Share Certificate and Share Warrant. 1. A share certificate is to be …
Agency by Ratification | Governing Rules | Effects
When does Agency by Ratification arise? Where a person without being authorized, purports to act as agent, or a duly authorized agent acts beyond his/her authority, the principal may …
Duties and Rights of the Bailor
Duties of the bailor The bailor owes the following duties to bailee in respect of the goods bailed out by him. 1. Duty to disclose faults In case of …