Daily Notes

LIMITED LIABILITY PAR...

Nature and features of limited liability partnership (LLP) A limited liability partnership (LLP) is defined as "a legal business entity partnership whereby the LLP is responsible for the debts of the business and not the partners". The Limited Lia

PARTNERSIP ACT

Definition and nature of partnership The Partnership Act, 1932 was enacted by Parliament to regulate partnership firms in India. It is based on the English Partnership Act of 1890. It came into force on 1 October 1932. Previously, the law relating

INTERNATIONAL LAW

QUESTIONS AND ANSWERS 1. What are the aims of the United Nations? (a) To keep peace throughout the world; (b) to develop friendly relations between nations; (c) to work together to help people live better lives, to eliminate poverty, disease and

DECLARATORY DECREES

DECLARATORY DECREES Sections 34 and 35 lay down the law relating to declaratory decrees. A declaratory decree is a decree declaratory of a right which is doubtful or which requires to be cleared. The object of declaratory decrees is to prevent futur

RESCISSION OF CONTRAC...

RESCISSION OF CONTRACTS The rescission of contract necessarily constitutes a bar to its performance by either of the party to it (Chapter XXIV). Any person on whom the burden of a contract has been imposed by means of a fraud or illegality or

SPECIFIC PERFORMANCE ...

SPECIFIC PERFORMANCE OF CONTRACTS Specific performance is equitable relief given by a court in case of breach of contract in the form of a judgment that the defendant is to actually perform the contract according to its terms and stipulations.