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Section 148 defines the terms ‘bailment’, ‘bailor’ and ‘bailee’. A bailment is the delivery of goods by one person to another for some purpose upon a contract that they shall when the purpose is accomplished be returned or otherwise disposed of according to directions of the person delivering them. The […]

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Nature of Partnership

When two or more persons join hands to set up a business and share its profits and losses it is called Partnership. Section 4 of the Indian Partnership Act 1932 defines partnership as the ‘relation between persons who have agreed to share the profits of a business carried on by […]

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Duties Of An Agent

Agent and Principal An “agent” is a person employed to do any act for another, or to represent another in dealing with third person. The person for whom such an act is done, or who is so represented, is called the “principal”. The contract between Principal and Agent is called […]

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