The Outstanding Study Guide, Tips & Tricks For Business Law Exam
Introduction: A strong legal system is the necessity of any society’s well being and it would be foolish of us to deny that! As BMS...
Business Law
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Fraud
Fraud means cheating. It is intentionally stating something untrue as true. Section 17 defines Fraud as “Fraud means and included any of the following acts...
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Misrepresentation
Section18 defines misrepresentation as – “a false representation a fact made innocently or non disclosure of a material fact without any intention to deceive the...
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Explain briefly the contracts specifically declared to be void under the Indian Contract Act
The following kinds of agreements are expressly declared to be void :- 1) Agreement made by incompetent person, For e.g. minor, a person of unsound...
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Explain the various modes of discharge of a contract?
A Contract is said to be discharged when the rights and obligations created by it come to an end. A contract may be discharged in the...
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Define the term ‘negotiable instrument’ and explain its characteristics
The term ‘negotiable’ means transferable and the word ‘document’ means ‘in writing’. Therefore, negotiable means a written promise or order to pay money which may...
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Essentials of a valid Promissory note
“A promissory note is an instrument in writing (not being a bank-note or a currency-note) containing an unconditional undertaking, signed by the maker, to pay...
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Bill of Exchange
As per Section 5 a “bill of exchange” is “an instrument in writing containing an unconditional order, signed by the maker, directing a certain person...
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Hundi
HUNDI A local instrument – Hundi is an indigenous instrument similar to Negotiable Instrument. The term is derived from Sanskrit word ‘hund’ which means ‘to...
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Essentials of a cheque
CHEQUE A Cheque is a special type of Bill of Exchange. It is drawn on banker and is required to be made payable on demand....
