Meaning and Concept Under the Indian Partnership Act, 1932, a partnership firm is an association of persons who carry on business jointly with a view […]
Author: Sunny Shettipalli
66. General Lien of Bankers.
Meaning of General Lien A lien means the right of a person to retain possession of another’s goods until the debt or lawful charges related […]
65. Liability of Co-Sureties.
Meaning of Co-Sureties When two or more persons jointly guarantee the same debt or duty for a principal debtor, they are called Co-Sureties. Under the […]
64. Particular Lie and General Lien.
Meaning of Lien The term “lien” refers to the right of a person to retain possession of goods belonging to another until certain lawful charges […]
63. Compulsory Dissolution of a Firm.
Meaning of Compulsory Dissolution According to Section 39 of the Indian Partnership Act, 1932, dissolution of a firm means the termination of the relationship between […]
62. The Property of Firm
Meaning of the Property of the Firm According to Section 14 of the Indian Partnership Act, 1932, the property of the firm refers to all […]
61. Del Credere Agent
Meaning of Del Credere Agent A Del Credere Agent is a special type of agent under Section 185 of the Indian Contract Act, 1872. This […]
60. Continuing Guarantee.
Meaning of Continuing Guarantee A continuing guarantee is defined under Section 129 of the Indian Contract Act, 1872. It refers to a guarantee that extends […]
59. Minor as a Partner
Meaning and Legal Position Under the Indian Partnership Act, 1932, a minor is generally considered incapable of entering into a contract, as per Section 3 […]
58. Definition Goods
Meaning of Goods The term “goods” is legally defined under Section 2(7) of the Sale of Goods Act, 1930. According to the Act, goods include […]