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 ...

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 ...

Commissioners under Workmen’s Compensation Act Appointment of Commissioners : The State Government may appoint any person to be a Commissioner for ...

In simple words, a wagering agreement is an agreement under which money or money worth is payable, by one person to another on the happening or ...

Inspector Appointed under the Minimum Wages Act. The appropriate Government may, by notification in the Official Gazette, appoint inspectors for the ...

Fixing of minimum rates of wages: The responsibility of fixing the minimum rates of wages is that of the appropriate Government. The ...

Section 31 of the Contract Act defines the contingent contract as follows: A contingent contract is a contract to do or not to do something if some event, ...

Consideration One of the essential elements of a valid contract is that it must be supported by some consideration. The term consideration is used in the ...