Any one of joint promisors may be compelled to perform When two or more persons make a joint promise, the promisee may, in the absence of express agreement to the contrary, compel any 1[one or more] of such joint promisors to perform the whole of the promise. Practice area’s of B K Goyal & Co […]
Devolution of joint liabilities When two or more persons have made a joint promise, then, unless a contrary intention appears by the contract, all such persons, during their joint lives, and, after the death of any of them, his representative jointly with the survivor or survivors, and, after the death of the last survivor, the
Effect of accepting performance from third person When a promisee accepts performance of the promise from a third person, he cannot afterwards enforce it against the promisor. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing
Receivables, also regarded as accounts receivable, are debts owed to a firm by its customers for goods or services used or delivered but not yet paid for.Receivables are created by expanding the line of credit to customers and are listed as current assets on the company’s balance sheet. They are considered as liquid assets since they can be used
The Atalji Janasnehi Kendra Project that has been launched by the Government of Karnataka. The main objective of the project is to provide various services to the citizens through the Nadakacheri online portal. Nadakacheri portal provides various services to the citizens like caste certificate, income certificate, land documents, agriculture documents and various Social Security Pensions. Services of
Foreign direct investment (FDI) is a category of cross-border investment in which an investor resident in one economy establishes a lasting interest in and a significant degree of influence over an enterprise resident in another economy. Ownership of 10 percent or more of the voting power in an enterprise in one economy by an investor
The One Person Company (OPC) can be converted into a Private Limited Company (PLC) as per Section 18 of the Companies Act, 2013 (‘Act’) and the provisions of Companies (Incorporation) Rules of 2014 (‘Rules’). The conversion of OPC into a private limited company will not affect the existing debts, liabilities, obligations or contracts of the OPC. The requirements that are
Person by whom promise is to be performed —If it appears from the nature of the case that it was the intention of the parties to any contract that any promise contained in it should be performed by the promisor himself, such promise must be performed by the promisor. In other cases, the promisor or
Effect of refusal of party to perform promise wholly When a party to a contract has refused to perform, or disabled himself from performing, his promise in its entirety, the promisee may put an end to the contract, unless he has signified, by words or conduct, his acquiescence in its continuance.Illustrations(a) A, a singer, enters
Effect of refusal to accept offer of performance Where a promisor has made an offer of performance to the promisee, and the offer has not been accepted, the promisor is not responsible for non-performance, nor does he thereby lose his rights under the contract.Every such offer must fulfil the following conditions:—(1) it must be unconditional;(2)
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