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The Limited Liability Partnership Act, 2008 of India, was passed by the Indian Parliament on December 2, 2008. It provides a new legal framework for forming limited liability partnerships (LLPs). The LLP is an association of two or more persons who have agreed to be jointly and severally liable for the obligations incurred by the […]

Formal partnerships are also called joint ventures and cooperative enterprises. They’re one of the most common business organizations, but they vary from simple to very complex. There must be some mutual interest between the two parties involved, and this interest must be significant for two or more people to decide to invest their time in

The term “legality of object” is often used in the legal world, but what does it actually mean? In order to understand the legality of an object, you must first know its definition. Below we will discuss the legality of the object in detail. Legality Of Object Definition The definition of the legality of an

The duty recognized by law that necessitates an individual’s ability to take action and manage the possible penalties for failing to deliver is a legal obligation. An obligation is a responsibility to carry out the terms of a contract, guarantee, or agreement. In the broadest sense, duty is associated with the obligation.   In a more

Introduction The intention to make a legal connection is one of the key elements in determining whether or not two people are in a legally binding relationship. Intention to create legal relations is the second element, and this intention can be shown through either words or actions. Finally, the intention to create legal relations problem

Introduction On 8th April 1932, the Indian Partnership Act was passed by the legislation, and it had come into effect on 1st October with the exception of section 69, which dealt with partnership registration. The Indian Contract Act 1872 initially introduced the first principles of Partnership under Chapter XI of section 239-266. The development of

The Indian Contract Act, 1872 was an English statute that codified the general principles of contract law in India by declaring a hierarchical order of priorities among bilateral agreements to govern their interpretation and performance. In the Indian legal system, a contract is an agreement between two or more parties about what each party will

Introduction The action of the parties creates an implied contract. The contract establishes legal duties between the parties. There is no written or oral agreement between the parties that supports the contract. The implied warranty that arises from the purchase of a product is an example of an implied contract. When you buy anything, you

The Indian Partnership Act, 1932 is the law that governs partnerships in India.  The Indian Partnership Act, 1932 defines a partnership as a “relationship between persons carrying on a business in common with a view to profit.”  A partnership is an association of two or more persons carrying on a business enterprise for profit. It

Guarantee seems to be a more broad and important legal concept than warranty or “security.” Guarantee Meaning generally refers to an exchange where a party agrees to be accountable for someone else. A guarantee is provided to build trust, assurance, or credit from oneself. It can also refer to an agreement securing claims, privileges, or