menhadi

What is Fraud? According to the Companies Act 2013, “Fraud in relation to affairs of a company or any body corporate includes any act, omission, concealment of any fact or abuse of position committed by any person or any other person with the connivance in any manner, with intent to deceive, to gain undue advantage […]

Introduction In order to define executory contracts, these are the contracts between two different parties in which the terms are executed or complied with afterwards. In this contractual agreement, the performance is either completely or partly unperformed by both the parties involved. Executory contracts usually involve a debtor or a borrower along with another party.

Introduction What is an executed contract? This is a question that often confuses people. An executed contract is a legal agreement that has been fully performed by both parties. Let’s take a look at an executed contract example to help illustrate this concept. Executed Contract Meaning The definition of executing a contract means to enter

A company is a organisation with a separate identity and restricted liability that was founded for the purpose of conducting business. It is a juristic person with a separate legal entity from the persons who make it up, capable of its own rights and obligations, and endowed with the ability to continue in perpetuity. According

Introduction When two or more people come together to form a partnership, they agree to undertake specific duties and responsibilities in order to run the business. These duties and responsibilities are set out in the Partnership Act 1932, and this article will discuss some of the key duties of partners. In particular, we will look

Introduction A bailment is a legal term for a situation in which personal property is entrusted to another person for safekeeping. The person who entrusts the property is known as the bailor, while the person who agrees to safeguard the property is known as the bailee. Both parties have specific rights and duties that are

The doctrine of indoor management, popularly known as ‘Turquand’s Rule’ is an exception to the doctrine of constructive notice. It is a 150-year-old concept that came into existence to protect outsiders from enterprises.   When it comes to the meaning of the doctrine of indoor management, it states that an individual dealing with the company must

The definition states that the dissolution of a partnership firm involves an agreement between the partners, to dissolve their partnership and surrender their right to make claims against the business, receive distributions from it, and liquidate all its assets so that they can be distributed to each partner. Dissolution of partnership firms isn’t the only one

A partnership is a relationship between two or more people who join together to operate a business, each person contributing money and one or more of the following: skill, labour, materials. A partnership somehow doesn’t pay federal taxes on its revenue, but any gains or losses are distributed to the individual partners. On his or

Inventory cost is the cost of the assets, plant, machinery and all of it’s required materials to run your business. It’s also known as “rolling stock” or “stock-in-trade”. For example a grocery store might stock a variety of items (like milk cartons). This is called a fixed asset because it doesn’t change over time. The