Author: Devikagupta

lets breaksterotypes.

Sales of goods act 1930

According to Sec 4(1) of sale of goods act, “A contract of sale of goods
is a contract whereby the seller transfers or agrees to transfer the
property in goods to the buyer for a price”.

Agreement to Sale
The sale of Goods Act defines it as, “where the transfer of the property in the
goods is to take place at a future time or subject to some condition thereafter to be
fulfilled, the contract is called an agreement to sell.”

Unpaid Seller
According to the sales of goods act, 1830 the seller of goods is deemed to be an
unpaid seller when. The whole of the price is not paid or rendered.The bill of exchange or other negotiable instrument has been received as
conditional payment and the condition on which it has was received has not
been fulfilled by reason of the dishonour of the instrument.

Examples
X sold certain goods to Y for Rs. 50,000. Y paid Rs. 40,000 but fails to pay the
balance. X is an unpaid seller.
P sold some goods to R for Rs. 60,000 and received a cheque for a full price. On
presentment the cheque was dishonoured by the bank. P is an unpaid seller.

Difference between Sale & Agreement to sale
When in a contract of sale, the exchange
of goods for money Consideration takes
place immediately, it is known as sale.

In sale, title of goods is transferred to the
buyer with the transfer of goods.
When in a contract of sale the parties to
contract agree to exchange the goods for
a price at a future specified date is known
as Agreement to sale.

Sustainable development and its pillars

Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs….The concept of sustainable development was introduced in early 1980’s (in particular through the publication of the World Conservation Strategy by IUCN, UNEP and WWF, 1980), in order to reconcile conservation and development objectives.

Sustainable development consists of a long-term, integrated approach to developing and achieving a healthy community by jointly addressing economic, environmental, and social issues, whilst avoiding the over consumption of key natural resources.

The 3 pillars of sustainable development is
Social development, economic development,environmental protection.

Economic Development
It requires that a business or country uses its resources efficiently and responsibly so that it can operate in a sustainable manner to consistently produce an operational profit.

Social Sustainability Social sustainability is the ability of society, or any social system, to persistently achieve a good social well being. Achieving social sustainability ensures that the social well being of a country, an organisation, or a community can be maintained in the long term.

Environmental Sustainability Environmental sustainability means that we are living within the means of our natural resources.To live in true environmental sustainability, we need to ensure that we are consuming our natural resources, such as materials, energy fuels, land, water…etc, at a sustainable rate. Some resources are more abundant than others and therefore we need to consider material scarcity, the damage to environment from extraction of these materials and if the resource can be kept within Circular Economy principles.

Love and relationships

Love the most complicated yet simple word in pronunciation. This is the word we have heard millions of time. And also have spoken multiple times. Now If we define love what would be it?. Something which give you happiness and pleasure is love. The person with whom you are happy and know that he or she can make you happy everytime.

Today we are talking about love in relationships. Relationships one more complicated word. And in actual relationships are complicated. The start of every relationship is from I think the word love. In most cases this is not love. How can you just a say person you saw ? That’s what is like not love. And we assume it as love and enter into relationships that are going to end soon.

May be with the passage of time you eventually fall or may be you dont. The situation is worst when one and the other doesnot. This is what we call DEVDAS stage. Person in Stage of singing TADAP TADAP KE IS DIL SE AAG NIKLTI RAHI.. And he feels all sad songs. Ohh damn this is so good and it was written for me.

Relationships are never smooth. Have you ever seen any marriage smooth? So how can be a relationship smooth? Your relationship can only be successful if you both understand each other. How you can run your vehicle? Sounds like marriage yaa it is. But the roots of both are same. Trust and understanding.

Every relationship is different in its own and you dont need a LOVE GURU for it. Follow what your heart says and everything is best then. Sometimes expert advice can ruin your life. Use your mind. #kbhi toh istmal kro.. and #phle istmal kro fir vishwas kro. 🤣🤣🤣.. Sorry for the joke.

If you like the blog please vote and like. Tomorrow we are going to come with another munch masala. Byyee byee!!

Cheques and its types

A cheque is a piece of document/paper which orders the bank to transfer money from the bank account of an individual or an organization to another bank account.

TYPES:

Bearer Cheque- The bearer cheque is a type of cheque in which the bearer is authorized to get the cheque en-cashed that is the person who carries the cheque to the bank has the authority to ask the bank for encashment.

Order Cheque- This type of cheque cannot be endorsed, i.e., only the payee, whose name has been mentioned in the cheque is liable to get cash for that amount.

Crossed Cheque- In this type of cheque, no cash withdrawal can be done. The amount can only be transferred from the drawer’s account to the payee’s account. Any third party can visit the bank to submit the cheque.

Account Payee Cheque- This is the same as the account payee cheque but no third party involvement is required. The amount shall be transferred directly to the payee’s account number.

Stale Cheque- In India, any cheque is valid only until 3 months from the date of issue. So if a payee moves to the bank to get withdrawal for a cheque which was signed 3 months ago, the cheque shall be declared a stale cheque.

Apart from it there are some other types of cheques too. Like the post dated cheque,self cheques,blank cheque and multinated cheques.

cat 2021

www.iimcat.ac.in

CAT is a national level examination conducted every year for admission in IIM’s and prominent B-schools. Apart from cat there are serval other mba exams like xat, mat, nmat etc.

There are some basic details you need to know in order to target CAT 2021. The application process will starts from tentatively 5 August. The last date to fill form can be 23 September ( tentatively).

Cat syllabus : This is basically divided into three sections quantitative aptitude, logical reasoning and data interpretation , verbal ability and reading comprehension. There would be 100 questions in 2 hours and marking scheme is +3,-1. If the covid 19 scenario continue, the pattern can be as last year 76 questions in 2 hours.

Preparation strategy : Approximately 4 months are left for examination. So you need to manage your time efficiently. First of all make a time table. Give each part equal time. Focus on every portion equally. Give ample number of mocks to see your position. You can refer material of coaching institues as well as books.

Books like from author Arun Sharma , Nishant k. Sinha , Meenakshi Upadhaya are good for all sections. It is also important to solve previous year papers. You can refer any solved paper book.

Complete the portion which has higher weightage firstly as only four months are left. Do not take stress. Take proper sleep and diet.

ALL THE BEST WITH YOUR PREPARATION!!