Economy Readers

DEVOLUTION OF JOINT LIABILITIES AND RIGHTS

DEVOLUTION OF JOINT LIABILITIES AND RIGHTS Passing of rights and liabilities from one person to another is called devolution. As we have already stated unless a contrary intention appears from contract, all joint promisors...

DEVOLUTION OF JOINT LIABILITIES AND RIGHTS

DEVOLUTION OF JOINT LIABILITIES AND RIGHTS Passing of rights and liabilities from one person to another is called devolution. As we have already stated...

PERSON BOUND TO PERFORM

PERSON BOUND TO PERFORM Normally, a contract, in the absence of a contrary intention, express or implied, is enforceable by and against the parties...

POSSIBILITY OF PERFORMANCE

POSSIBILITY OF PERFORMANCE A contract is made between the parties to or abstain from doing something. That contract creates a lawful obligation to the...

PERFORMANCE OF CONTRACT

PERFORMANCE OF CONTRACT Contract is an agreement creating and defining legally binding obligations between the parties which recognises some remedies in case of non-performance of...

QUANTUM MERUIT

QUANTUM MERUIT The term Quantum meruit literally means as much as he has earned; a reasonable amount. An action upon quantum meruit arises where...

QUASI-CONTRACT

QUASI-CONTRACT Under certain circumstances a person may receive a benefit for which the law considers he should pay to the other person even though...

Environmental Scanning

Environmental Scanning Environmental scanning is the process of monitoring, evaluating and disseminating information from internal and external environment. The changing environment creates both opportunities...

PERFORMANCE OF CONTRACT

PERFORMANCE OF CONTRACT All contracts are made for performance. When the parties fulfill their respective obligations or when the parties fulfill the conditions of...

MEANING OF CONTINGENT CONTRACT

CONTINGENT CONTRACT If the performance of a contract depends upon the fact whether or not a specified uncertain future event, collateral to the main...

MEANING OF WAGER

MEANING OF WAGER A wager is an agreement between to parties by which one promises of pay money or money’s worth on the happening...

Social Environment

Social Environment Socio-cultural forces consist of the attitude, beliefs, and values of individuals and groups in the society. As the values, customs, and tastes...

Political Environment

Political environment Political environment is related to management of public affairs. Political environment mainly refers to the political structure, composition of bureaucracy, and ideology...

Social Responsibility

Social Responsibility Social responsibility is the obligation of an organization to protect and enhance social norms and rules within the organization functions. Every organization...

WAGERING AGREEMENT

WAGERING AGREEMENT Wagering agreement is a promise to pay money or money’s worth on the happening or non-happening of a specified uncertain future event....