What is Acceptance?
Acceptance and offer play important roles in the formation of a valid contract. For a successful contract, there must be a valid offer followed by… Read More »What is Acceptance?
Business Law
What is Quasi Contract?
A quasi-contract is a legal obligation imposed by law to prevent unjust enrichment. This is also called a contract implied in law or a constructive contract. A… Read More »What is Quasi Contract?
Features of Business
Characteristics of Business The following are the characteristics of business 1. An Economic Activity: A business is an economic activity that includes the purchase & sale… Read More »Features of Business
What is Bill of Exchange?
Bill of exchange is similar to checks and promissory notes. They can be drawn by individuals or banks and are generally transferable by endorsements. According… Read More »What is Bill of Exchange?
Proposal or Offer
The whole process of entering into a contract starts with a proposal or an offer made by one party to another. To agree such a… Read More »Proposal or Offer
What is Deed?
A deed is a formal and dignified instrument. In general, it refers to any document by which two or more parties agree to put into… Read More »What is Deed?
What is Agreement?
An agreement is a contract between two or more individuals who sign a contract to start a profitable business together. In the Partnership agreement, the… Read More »What is Agreement?
Ethical and Unethical Behavior in Business
Ethical Behavior is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a… Read More »Ethical and Unethical Behavior in Business
What is Partnership? Advantages and Disadvantages
According to section 4 of the Partnership Act of 1932, “It can be defined as the relation between two or more persons who have agreed… Read More »What is Partnership? Advantages and Disadvantages
What is Entrepreneurship? Characteristics of Entrepreneurship
Entrepreneurship is the act of being an entrepreneur. Which is French word meaning ” to undertake”. Entrepreneurs assemble resources including innovations, finance and business acumen… Read More »What is Entrepreneurship? Characteristics of Entrepreneurship