Meaning of Universal Agent Under the Indian Contract Act, 1872, an agent is a person employed to do any act for another or to represent […]
Tag: Lawgnan
20. Pawnor
Meaning of Pawnor Under the Indian Contract Act, 1872, Section 172 defines a pledge as the bailment of goods as security for payment of a […]
19. Finder of Goods
Meaning of Finder of Goods A finder of goods is a person who finds goods belonging to another and takes them into their custody. Under […]
18. Bailment
Meaning of Bailment The concept of bailment is defined under Section 148 of the Indian Contract Act, 1872. Bailment refers to the delivery of goods […]
17. Contract of Indemnity.
Meaning of Contract of Indemnity A contract of indemnity is defined under Section 124 of the Indian Contract Act, 1872 as a contract in which […]
16. Co-Surities.
Meaning of Co-Sureties When two or more persons stand as sureties for the same debt or obligation of a principal debtor, they are called co-sureties. […]
15. L.L.P.
Meaning of LLP A Limited Liability Partnership (LLP) is a unique form of business organization introduced in India under the Limited Liability Partnership Act, 2008. […]
14. Sleeping Partner.
Meaning of Sleeping Partner A sleeping partner is a type of partner in a partnership firm who contributes capital and shares profits and losses but […]
13. Unpaid Seller
Meaning of Unpaid Seller Under the Indian Sale of Goods Act, 1930, an unpaid seller is one to whom the whole price of goods has […]
12. Delegation of Authority.
Meaning of Delegation of Authority Delegation of authority means the transfer of decision-making power or responsibility from one person to another, usually from a higher […]