Relation of Partners with Third Parties A. Implied Authority of the Partners B. Partners are agents for each other C. Liability of Partners D. Doctrine of Holding Out Essentials of Implied Authority of the partners: Implied authority refers to those powers of a partner which are not expressly given to him or are not written down in a partnership agreement. An act of the partner to come within the preview of implied authority must fulfill the following conditions:- (1) The act must be
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a mere warehouse of the thing sold‚ and the contract is for goods.” 2. Shantabai v. State of Bombay – AIR 1958 SC 532 This case was a landmark case that laid down the test to determine when timber trees are standing timber and when they are immovable property. In this case‚ the petitioner filed a writ petition under Article 32 of the Constitution of India claiming that her fundamental right to cut and collect timber in the forest in question has been infringed. The
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therefore become an important branch of civil law. The Transfer of Property Act‚ 1882 deals with the transfer of immoveable property inter-vivos (although some provisions deal with the transfer of moveable as well as immovable property). Before this enactment‚ the transfers of immovable property were mostly governed by English equitable principles as applies by Anglo-Indian Courts. The “doctrine of part-performance” is one of the equitable doctrines applied by these Courts. Doctrine of part performance
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Types of Products/Services Housing loan is one of the main products offered by banks‚ with housing loan in place with its customers; banks can then have the break of building a cluster of products around it. This will in turn develop the retention tie with the customers. Other than housing loan‚ other types of home loan financing that banks offers include bridging loan and renovation loan. These loans are commonly presented to the lenders in a package‚ provided the lenders are eligible for the
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Before Joana asserts that she is the creator of her own circumstances‚ she needs‚ first‚ to dispel her fears. In the opening lines of ‘The Journey’‚ the narrator exhibits Joana’s state of mind. The narrator discloses that Joana is leaving behind a reality that is solid and has well-formed shapes to situate herself‚ instead‚ in a more liquid reality (187). The narrator uses the element of ‘water’ in symbolic terms to denote a shapeless and formless nature. Being water the element that sustains life
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Direct Tax AMENDMENTS CA FINAL – MAY 2014 AMENDMENTS –DIRECT TAXES- CA FINAL –MAY 2014 Tax Rates AMENDMENTS –DIRECT TAXES- CA FINAL –MAY 2014 There are no changes in tax rates for FY 2013-14 except levy of surcharge at various levels. Tax rates for different assessee’s for FY 2013-14 is as under: Individuals‚ HUF‚ AOP and BOI Total Income FY 2013-14 Upto INR 200‚000 NIL INR 200‚001 to INR 500‚000 10% INR 500‚001 to INR 10‚00‚000 20% INR 10‚00‚001 & Above 30%
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The Indian Federalism and Goa’s Future Teotonio R. de Souza Time may be ripe for Goans to demand Special Status to Goa‚ by seeking amendment of the Article 371 once again to satisfy their demand. The latest such amendment as 371 (J) has approved special status to the region of north Karnataka‚ including six districts of Gulbarga‚ Bidar‚ Raichur‚ Yadagir‚ Koppal and Bellary. This creates special conditions for the development of this region. The legislation granting the status was signed
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All We are is Dust in the Wind From antiquity to the 17th century‚ the study of nature and the cosmos have constantly been reforming. As these changes have been analyzed over the past semester‚ we come to the culmination of our journey with the identification of the causes for these changes to the scientific community through time. This constant change can be diagnosed with three symptoms. First of all‚ the preponderate religion or belief system of the time; not only of the “scientists”
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Object and Scope The Law of Contract deals with agreements which can be enforced through courts of law. The Law of Contract is the most important part of commercial law because every commercial transaction starts from an agreement between two or more persons. According to Salmond a contract is an “agreement creating and defining obligations between the parties.” According to Sir William Anson‚ “A contract is an agreement enforceable at law made between two or more persons‚ by which rights
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