Business Law

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Description
In the field of law of contract some valuable decisions have been something like this: When a man's spouse is suffering from a life-threatening disease and he helps her to come out of it at his expense, he was not allowed subsequently to demand that such sacrifice of time and money should be considered as a sufficient consideration for her consent to divorce. Omission by a bank to give to bidders full particulars about the property put on auction was held to be a fraud. Similarly, an agent who did not produce before the court his power of attorney on which he acted was held to be guilty of fraud. Jurisdiction of the court to grant alimony and maintenance could not be overruled by a settlement. It would be against public policy also. A de facto guardian disposed of a minor's property without any authority. On attaining majority, the minor was allowed to seek setting aside of the transaction without paying anything to the buyer, who could seek his remedy against the de facto guardian. A property was confiscated by Customs Authority because of undervalue declaration and something had to be paid for getting it released. Such payment was not allowed to be recovered back. It was not an additional tax, nor in the nature of unjust enrichment. A dismissed employee is under a duty to seek alternative employment. If his dismissal is wrongful, compensation can be recovered according to loss of earnings during the period lost in getting alternative job. Reasonableness is an important factor in this respect. Even where there is breach of contract, security amount can be forfeited only after giving reasonable notice. Provision for recovery of amount double than that of sale consideration was held to be penalty and therefore not permissible. An insurer rejected the claim because of delay in payment of premium. It had accepted the delayed payment without protest.
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Contents
Part I
Contract
1.    Agreement, Contract, Proposal and Acceptance
2.    Consideration
3.    Capacity to contract
4.    Free Consent
5.    Legality of Object
6.    Discharge of Contract
7.    Contract of Indemnity
8.    Guarantee
9.    Bailment
10.  Pledge
11.  Agency
Part II
Partnership and Limited Liability Partnership
12.  Law of Partnership
13.  Limited Liability Partnership Act, 2008
Part III
Sale of Goods and Competition Law
14.  Sale of Goods Act, 1930
15.  Competition Act, 2002
Part IV
Negotiable Instruments
16.    Negotiable Instruments Act, 1881
Part V
Company Law
17.  Company Law
Part VI
Intellectual Property Rights
18.  Trade Marks Act, 1999
19.  Copyright Act, 1957
20.  Patents Act, 1970
21.  Designs Act, 2000
Subject Index
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Author Details
Dr. Avtar Singh, Advocate, B.Com, LL.M, LL D, (Luck.), Vidya Bhushan (Hindi Sansthan, U.P., Ex-Visiting Professor of Business Laws, I.I.M., Lucknow, Ex-Reader in Law, Lucknow University
Varun Malik