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Indian Contract Act 1872 Notes Sixth sem Bcom Business Regulations GFGC Gauribidanur

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  Essentials of a valid contract Meaning of contract In simple terms, a contract means when two parties put into writing an agreement which contains certain obligations (promises) which are to be performed by such parties, and when such written agreement becomes enforceable by law, it becomes a Contract. Enforceable by law means when the agreement has acquired the force of law only for those who are a party to it and a violation of those obligations would attract legal action, including repudiation of the entire contract. Contract Act defines a Contract as  “An agreement which is enforceable by Law” [i] .  An Agreement is a settlement between two parties, which contains obligations or promises which both parties need to fulfil. When such an agreement is made binding by Law it becomes a Contract. [ii] Therefore an agreement consists of  reciprocal Promises  which are to be performed by parties to the contract. Promises are reciprocal when both parties have to per...
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Rights of unpaid seller

  SUBJECT: BUSINESS LAW CLASS:MMRB SEMEster:6   UNPAID SELLER: ACCORDING to sec45(1) of sale of goods act, seller of the goods is deemed to be unpaid seller:   (A)   WHEN whole of the price has not been tendered or paid, or   (B) WHEN bill of exchange or negotiable instrument has been received as a conditional payment.   section45(2) says The term seller include any person who is in position of seller ,agent who himself pay or is directly responsible for the price 0r an agent of the seller to whom bill of   lading has been endorsed ,or a consignor or agent who himself paid or is directly responsible for the price AND the seller of goods can be deemed to be an unpaid seller: 1. if the price become due but they r not paid. HE Must have an immediate right of action for the price.   2. A BILL of exc...
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How to crack Competitive Exams?

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  Mr.Mohan Kumar, Pride of our GFGC Gauribidanur, Honorable President, delivers a lecture in the alumni meet. Tips to Crack Competitive Exams Team Leverage Edu   Updated on   Sep 30, 2021 6 minute read 16.9K views 10 shares   Every year, thousands of candidates appear for various competitive exams like  IELTS ,  GRE ,  TOEFL , RBI Grade-B,  CAT ,  GMAT ,  TOEFL ,  NEET , SSC and many more. To winnow the wheat from the chaff, the difficulty level of all exams increases with passing years. As a result of this, only a few candidates make it to the top. It thus becomes important to devise a strategy in line with your strengths and weaknesses to stay ahead. In this blog, we will share some tips and tricks to solve different sections in competitive exams which might put you ahead in the game.  THIS BLOG INCLUDES: How to Prepare for Competitive Exams Verbal Ability for Competitive Exams Preparing Quantitative Section for Competitive E...
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