Condition to be treated as warranty: Section 13 of the Sale of Goods Act lays down the following two conditions when a condition becomes a warranty: Waiver ...

Sale and Agreement to sell Nature of contract : Sale is an executed contract whereas an agreement to sell is an executory contract. An executed contract ...

Appointment of auditors: The first auditor or auditors of a company shall be appointed by the Board of Directors within one month of registration of the ...

Condition:  A condition is a stipulation essential to the main purpose of the contract, the breach of which gives the aggrieved party a right to repudiate the ...

Implied conditions and warranties are deemed to be incorporated in every contract of sale of goods unless the terms of the contract show a contrary intention. ...

Returns to a Variable Factor: As more and more of input is employed, all other inputs being held constant, normally marginal and average product increase ...

Termination of agency occurs when the relationship between the principal and the agent comes to an end. Like any other contract, the contract of agency may ...

Monopoly equilibrium: A monopolist is in equilibrium when he produces that amount of output which yields him maximizing total profit price and equilibrium ...

Calls-in-Arrears : If any amount has been called by the company either as allotment or call money and a shareholder has not paid the money, such amount not ...

Minimum Subscription: The minimum subscription is that number of shares on which amount received from shareholders is sufficient, from the point of view ...