Breach of Contract. Every contract imposes obligations on both the parties to it. When one of them fails or refuses to perform the obligations imposed upon him ...

Preliminary Contract or Pin-corporation Contracts: During promotion of the company, the promoters of the company enter into various contracts with third ...

The Concept of Excess Capacity in Monopolistic Competition. Monopolistic competition refers to a market structure in which there are many firms selling ...

Procedure for fixing and revising minimum wages (Section 5) In fixing minimum rates of wages in respect of any scheduled employment for the first time ...

Position of a Minor with Regard to the Contracts Entered into by Him. One of the essential ingredient of a valid contract stated in Section 10 is that the ...

Meaning of Articles of Association:  The Articles of Association of a company contains rules, regulations and bye-laws relating to the management of its ...

Meaning of Immediate Employer:  Immediate employer, in relation to employees employed by or through him, means a person who has undertaken the execution of ...

Theory of notional extension of employment, To make the employer liable, it is necessary that the injury caused by an accident must have arisen in the course ...

Long-Run Theory of Cost. When all inputs can be varied, there is a least-cost method of producing each possible level of output. Thus, with given input ...

As per Section 3 of the Workmen’s compensation Act, an employer is liable to pay compensation according to the provisions of this Act: if ...