(a) DEL CREDERE : A del credere agent is a mercantile agent who in addition to his work of bringing a contract between his principal and third parties also undertakes to be liable to the principal for the default of the third party to perform the contract. In other words‚ he also guarantees to his principal the performance of the contract by the third party. He gets extra commission for this extra risk taken by him. Such commission is called ‘Del credere’ commission. Thus the Del credere agent
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physically partitioned‚ each tenant in common has the right to occupy the property. Each one of them does not have the right to exclude one another. In considering cases of co-ownership‚ it is necessary to distinguish between the position at common law and that which obtains in equity. The above can be supported by the cases as mentioned below: Malayan Credit Ltd v Jack Chia (MPH) Ltd [1986] Lau Siew Kim v Yeo Guan Chye Terence [2008] There is no evidence in showing that the property
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Ordinary income Tennant v Smith‚ (money or convertible into money) An employee was given accommodation rent free by his employer. Was this ordinary income? • The employee could not sublet the accommodation to anyone else‚ therefore could not turn this accommodation into cash. • The Court said it was not ordinary income under s. 25(1) (now s.6-5) since the accommodation was not convertible into money. • Not ordinary income under s.6-5. FCT v Cooke & Sherden. (money or convertible into money) Soft
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PARTNERSHIP It is a CONTRACT whereby two or more persons (1) bind themselves to CONTRIBUTE money‚ property‚ or industry to a COMMON FUND (2) with the intention of dividing the PROFITS among themselves or in order to EXERCISE a PROFESSION a STATUS and a FIDUCIARY RELATION subsisting between persons carrying on a business in common with a view on profit CHARACTERISTICS OF THE CONTRACT OF PARTNERSHIP [C‚ C‚ L‚ I‚ AS‚ NP] 1. CONSENSUAL perfected by mere consent
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they carry on business by entering into contracts. The law relating to contracts is to be found in the Indian Contract Act‚ 1872.The law of contracts differs from other branches of law in a very important respect. It does not lay down so many precise rights and duties which the law will protect and enforce; it contains rather a number of limiting principles‚ subject to which the parties may create rights and duties for themselves and the law will uphold those rights and duties. Thus‚ we can say that
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acceptance * ‘Capacity or the ability to understand the consequences of a contract by persons of such age prescribed by law & those with sound mind. * ‘Mutual consent’ or agreement on the terms of a contract ‘consideration’‚ or reward for goods or services rendered. The element that distinguishes a contract from casual agreements is that it is legally binding: The law provides a remedy in the event that the promise is broken. Legally‚ certain types of contracts should be in writing‚
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Dr. RAM MANOHAR LOHIYA NATIONAL LAW UNIVERSITY LUCKNOW. SESSION 2013-2014 A Project on " Immunity of agent- a detailed study" Under the Supervision of Dr Visalakshi Vegesna Assistant Professor Submitted by Umaima Shahnawaz B.A.L.L.B(Hons.) IIIrd Semester Roll no-147 ACKNOWLEDGEMENT I would like to express my special thanks of gratitude to my teacher Dr. Visalakshi Vegesna who gave me the golden opportunity to do this wonderful project on the topic " Immunity of agent- a detailed
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CYBER LAW Report ACKNOWLEDGEMENT I would like to express my special thanks of gratitude to my teacher Ms Sadhna Dutta who gave me the golden opportunity to do this wonderful project on the topic CYBER LAWS‚ which also helped me in doing a lot of Research and I came to know about so many new things. I am really thankful to them. Secondly I would also like to thank MR. RAJEEV SIROHI(Advocate) who helped me a lot in finishing this project within the limited
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Tax Law Assignment According to the Act Gross Income is defined as ‚ in relation to any year or period of assessment‚ means‚ in the case of any person‚ the total amount‚ in cash or otherwise‚ received by or accrued to or in favour of such person during such year or period of assessment from a source within or deemed to be within Namibia‚ excluding receipts or accruals of a capital nature‚ but including‚ without in any way limiting the scope of this definition‚ such amounts (whether of a capital
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BSC Occupational Safety & Health Health & Safety Law Assignment 1 Module Code: CEWM08002 Banner ID: B00114073 Lecturer: Clive Mitchell Contents Introduction Conclusions References Appendices Introduction The purpose of this report is to answer the question “To what extent has the development of effective Health & Safety Legislation in the United Kingdom been hindered by economic & commercial factors?” This will be
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