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 […]
Tag: LLB notes
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 […]
49. Nemo dat Quod Non – Habet
Meaning of Nemo Dat Quod Non Habet The Latin maxim “Nemo dat quod non habet” means “no one can transfer a better title than he […]
48. Unascertained Goods
Meaning of Unascertained Goods Under the Sale of Goods Act, 1930, goods are classified into specific and unascertained goods. According to Section 2(14), unascertained goods […]
47. Agency by Ratification
Meaning of Agency by Ratification Agency by Ratification arises when a person, known as the agent, acts on behalf of another person (the principal) without […]
46. General Lien
Meaning of General Lien A General Lien is a right recognized under the Indian Contract Act, 1872, which allows certain categories of persons to retain […]
45. Gratuitous Bailment
Meaning of Gratuitous Bailment A Gratuitous Bailment is a type of bailment defined under the Indian Contract Act, 1872 where goods are delivered by the […]
44. Surety as a favored Debtor
Meaning of Surety as a Favored Debtor A surety is considered a favored debtor under the Indian Contract Act, 1872, particularly Section 141. This principle […]
43. Pledge.
Meaning of Pledge A Pledge is defined under Section 172 of the Indian Contract Act, 1872 as a bailment of goods as security for payment […]
42. Termination of Agency.
Meaning and Legal Provisions The concept of Termination of Agency is governed by the Indian Contract Act, 1872 under Sections 201 to 210. An agency […]