Business law

Cover
Half Title
About the Author
Title Page
Copyright
Dedication
Foreword
Preface
Acknowledgements
Contents
Chapter One: Business Law: An Overview
	1.1 Definition and Scope of Business Law
	1.2 A Historical Perspective
	1.3 Sources of Business Law
PART 1: Law of Contracts
Chapter Two: Nature and Classification of Contracts
	2.1 What is a Contract?
	2.2 Essential Ingredients of a Valid Contract
	2.3 Classification of Contracts
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Three: Offer and Acceptance
	3.1 Offer or Proposal
	3.2 Acceptance of an Offer or Proposal
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Four: Competence to Contract
	4.1 Who are Competent to Contract?
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Five: Free Consent
	5.1 What Constitutes a Free Consent?
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Six: Lawful Consideration
	6.1 Definition of Consideration
	6.2 Importance of Consideration
	6.3 Essential Ingredients of Consideration
	6.4 Exceptions to the Rule: “No Consideration, No Contract”
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
	Appendix 6.1
Chapter Seven: Lawful Object
	7.1 Distinction between ‘Consideration’ and ‘Object’
	7.2 Unlawful Consideration and the Object
	7.3 Some Heads of Agreements Opposed to Public Policy
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Eight: Agreements Expressly Declared as Void; Contingent Contract; and Quasi-Contract
	8.1 Agreements in Restraint of Marriage (Section 26)
	8.2 Agreement in Restraint of Trade (Section 27)
	8.3 Agreement in Restraint of Legal Proceedings (Section 28)
	8.4 Agreements Void for Uncertainty (Section 29)
	8.5 Agreement by Way of Wager (Section 30)
	8.6 Agreements Contingent on Impossible Event (Section 36)
	8.7 Agreements to do Impossible Act (Section 56)
		Contingent Contract
	8.8 Contingent Contract (Sections 31 to 36)
	8.9 What are the Essential Elements of a Contingent Contract?
	8.10 Rules Pertaining to the Enforcement of Contingent Contracts (Sections 32 to 36)
		Quasi-Contract
	8.11 Quasi-Contract (Sections 68 to 72)
	8.12 Quantum Meruit
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Nine: Performance of Contracts
	9.1 What is Meant by the Term ‘Performance of a Contract’?
	9.2 Offer to Perform or Tender of Performance
	9.3 Who Must Perform?
	9.4 Contracts, Which Need Not Be Performed
	9.5 Performance of a Joint Promise
	9.6 Time, Place, and Manner of Performance (Sections 46 to 50, and 55)
	9.7 Performance of Reciprocal Promises (Sections 51 to 54, and 57)
	9.8 Assignments of Contracts
	9.9 Rules of Assignment
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Ten: Discharge of Contracts
	10.1 Manners of Discharge of Contracts
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Eleven: Remedies for Breach of Contract
	11.1 What are the Remedies for Breach of Contract?
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Twelve: Contracts of Indemnity and Guarantee
	12.1 Definition of Indemnity
	12.2 Essential Elements of Indemnity
	12.3 Rights of the Indemnity Holder (Indemnified Party) [Section 125]
	12.4 Rights of the Indemnifier (Indemnifying Party)
	12.5 Commencement of the Liabilities of the Indemnifier (Indemnifying Party)
	12.6 Definition of Guarantee (Sections 126 to 141)
	12.7 Distinction between ‘Contract of Indemnity’ and ‘Contract of Guarantee’
	12.8 Varieties of Guarantees
	12.9 Rights and Duties of a Creditor
	12.10 Rights and Duties (Obligations) of the Surety
	12.11 Liabilities of Surety
	12.12 Position of the Surety in the Case where the Principal Debtor is a Minor
	12.13 Discharge of Surety
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Thirteen: Contract of Bailment
	13.1 What is Bailment?
	13.2 Main Characteristics of Bailment
	13.3 Duties (Obligations) of Bailor
	13.4 Duties (Obligations) of Bailee
	13.5 Rights of the Bailee
	13.6 Right of Lien (Sections 170 and 171)
	13.7 Rights against Wrongful Deprivation or Injury to Goods (Sections 180 and 181)
	13.8 Rights of the Bailor
	13.9 Termination of Bailment
	13.10 Finder of the Lost Goods
	13.11 Rights of the Finder
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Fourteen: Contract of Pledge
	14.1 What is Pledge or Pawn?
	14.2 Main Characteristics of Pledge
	14.3 Duties of a Pledgee
	14.4 Rights of a Pledgee
	14.5 Rights of a Pledgor
	14.6 Duties/Obligations of a Pledgor
	14.7 Pledge by Non-owners
	14.8 Advantages of Pledge
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
	Appendix 14.1 Pledge, Hypothecation, and Mortgage: A Comparison
Chapter Fifteen: Contract of Agency
	15.1 Who is an Agent?
	15.2 Competence to Appoint an Agent
	15.3 Competence to Become an Agent
	15.4 Agent vs Servant
	15.5 Different Modes of Creating Agency
	15.6 Types of Agents
	15.7 Sub-Agent and Substituted Agent (Sections 190 to 195)
	15.8 Obligations (Duties) of an Agent
	15.9 Rights of an Agent
	15.10 Duties of the Principal towards the Agent
	15.11 Liability of the Principal to the Third Persons
	15.12 Personal Liability of an Agent
	15.13 ‘Undisclosed Principal’ vs ‘Concealed Principal’
	15.14 Termination of an Agency
	15.15 When does Termination of Agency Become Effective?
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
PART 2: Law of Negotiable Instruments
Chapter Sixteen: Introduction to Law of Negotiable Instruments
	16.1 What is a Negotiable Instrument?
	16.2 Reserve Bank of India Act, 1934 (Sections 31 and 32)
	16.3 Definition of a Negotiable Instrument (Section 13)
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Seventeen: Promissory Notes
	17.1 Definition of a Promissory Note (Section 4)
	17.2 Essential Ingredients of a Promissory Note
	17.3 Revival of a DP Note after it has Already Become Time-barred (Expired)
	17.4 Stampings and Cancellation of the Stamps Thereof
	17.5 Specimen of Promissory Notes
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Eighteen: Bills of Exchange
	18.1 Definition of Bill of Exchange
	18.2 Essential Ingredients of a ‘Bill of Exchange’
	18.3 Who may Make, Draw, Accept, or Endorse a Promissory Note or a Bill of Exchange
	18.4 Types of Bills of Exchange: Demand and Time Bills of Exchange
	18.5 Stamp Duty Exigible on Time (Usance) Bills
	18.6 Maturity of Bill of Exchange
	18.7 Presentation of the Time Bills for Acceptance
	18.8 Whom, When, and Where to Present the Bill of Exchange for Payment?
	18.9 Dishonour of a Bill of Exchange
	18.10 Noting and Protesting for Dishonour
	18.11 Acceptance for Honour after Noting or Protesting of a Bill
	18.12 Payment for Honour after Noting or Protesting of a Bill
	18.13 Some Other Categorisation of the Bill of Exchange, Besides Demand and Time Bills
	18.14 Amount of Compensation
	18.15 Discharge of Negotiable Instruments
	18.16 What are Hundis?
	18.17 Types of Hundis
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Nineteen: Cheques and Bank Drafts
	19.1 Definition of Cheque
	19.2 Salient Features of a Cheque
	19.3 Anti-dated, Stale, and Post-dated Cheques
	19.4 Bearer Cheque and Order Cheque
	19.5 Crossed Cheque and Open (Uncrossed) Cheque
	19.6 Material and Immaterial Additions/Alteration on Cheques
	19.7 Stopping Payment of a Cheque by Telegram or over the Telephone, or by Fax or E-mail
	19.8 Bank Draft Drawn on One Branch of a Bank on Another, Payable to Order
	19.9 ‘Holder’ vs ‘Holder in Due Course’
	19.10 Cheques Drawn by a Minor
	19.11 Marking of Cheques as ‘Good for Payment’
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
	Appendix 19.1
Chapter Twenty: Endorsements
	20.1 What is an Endorsement?
	20.2 What is a Valid Endorsement?
	20.3 Various Types of Endorsements
	20.4 Effect of Different Types of Endorsement
	20.5 Negotiation vs Assignment
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Twenty One: Miscellaneous Legal Provisions on Negotiable Instruments
	21.1 Ambiguous Instrument (Section 17)
	21.2 Inchoate Instrument (Section 20)
	21.3 Agency (Section 27)
	21.4 Liability of the Agent Signing the Instrument in his Own Name (Section 28)
	21.5 Liabilities of Legal Representative (Section 29)
	21.6 Negotiable Instruments without Consideration (Section 43)
	21.7 Partial Absence or Failure of Monetary Consideration (Section 44)
	21.8 Partial Failure of Non-Monetary Consideration (Section 45)
	21.9 Instruments Lost or Stolen, or Obtained by Unlawful Means or Unlawful Consideration
	21.10 Position Regarding Instruments Lost or Stolen, or Obtained by Unlawful Means or for Unlawful Consideration
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Twenty Two: The Paying Banker
	22.1 Who is a Paying Banker?
	22.2 Duties and Responsibilities of a Paying Banker
	22.3 Legal Protection to a Paying Banker
	22.4 Payment in Due Course of Business (Analysis of Section 10)
	22.5 When Should the Paying Banker Refuse Payment?
	22.6 When the Paying Banker may Refuse Payment?
	22.7 Objections Frequently Used by the Paying Bankers while Returning Cheques Unpaid
	22.8 Criminal Penalties in Dishonour of Cheque for Want of Funds
	22.9 In Discharge of a Legal Debt or Liability
	22.10 Competence and Jurisdiction of Court
	22.11 Period of Limitation
	22.12 Effect of Part-Payment
	22.13 Liability for Wrongful Dishonour
	22.14 Offences by Companies
	22.15 Liability of a Company in Liquidation
	22.16 Power of Court for Summary Trial
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Twenty Three: The Collecting Banker
	23.1 Who is the Collecting Banker?
	23.2 Banker as a ‘Holder for Value’, i.e. as a ‘Holder in Due Course’
	23.3 Banker as a Collecting Agent, i.e. as a ‘Holder’
	23.4 Statutory Protections Enjoyed by a Collecting Banker
	23.5 Illustrations of Negligence by Banks through Some Case Laws
	23.6 Duties and Responsibilities of a Collecting Banker
	23.7 Position of a Bank Acting Both as a Collecting Banker and as a Paying Banker
	23.8 Provisions in English Law when a Bank Acts Both as a Collecting Banker and as a Paying Banker
	23.9 Position of Bankers Collecting Bills of Exchange
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
PART 3: Law of Sale of Goods
Chapter Twenty Four: Contract of Sale of Goods
	24.1 Background
	24.2 Definition and Essential Ingredients of Contract of Sale of Goods
	24.3 Sale vs Agreement to Sell
	24.4 Sale vs Other Similar Transactions
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Twenty Five: Law of Sale of Goods; and Pricing of Goods
	25.1 What is Meant by the Term ‘Goods’?
	25.2 Documents of Title to Goods
	25.3 Classification of Goods
	25.4 What is a ‘Price’?
	25.5 Rules for Fixing the Price
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Twenty Six: Conditions and Warranties
	26.1 ‘Condition’ and ‘Warranty’ Defined
	26.2 ‘Condition’ and ‘Warranty’ Distinguished
	26.3 When to Treat a ‘Condition’ as a ‘Warranty’?
	26.4 Express and Implied ‘Conditions’ and ‘Warranties’
	26.5 Sale by Sample (Section 17)
	26.6 Implied Warranties
	26.7 Principle of Caveat Emptor
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Twenty Seven: Transfer of Property (Title) in Goods
	27.1 Meaning of Property in Goods
	27.2 When will the Seller or Buyer Bear the Loss of Damaged or Lost Good?
	27.3 Passing (Transfer) of Property in Goods from Seller to Buyer
	27.4 Passing (Transfer) of Property in Goods from Seller to Buyer (Unless an Intention Appears to the Contrary)
	27.5 Sale ‘on Approval’ or ‘Sale or Return’ Basis
	27.6 General Rule Pertaining to Transfer of Title
	27.7 Exceptions to the General Rule Pertaining to Transfer of Title
	27.8 Summary of the Sales by the Non-owners of the Goods
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Twenty Eight: Performance of Contract of Sale
	28.1 Duties of the Seller and the Buyer
	28.2 Delivery Defined
	28.3 Types of Delivery
	28.4 Rules of Delivery
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Twenty Nine: Rights of Unpaid Seller; and Sale by Auction
	29.1 ‘Unpaid Seller’s’ Defined
	29.2 Rights of an Unpaid Seller
	29.3 Loss of the Right of ‘Unpaid Seller’s Lien’ on the Goods
	29.4 Right of Stoppage-in-Transit
	29.5 Lien vs Stoppage-in-Transit
	29.6 Duration and End of Transit
	29.7 Exercise of the Right of Stoppage-in-Transit
	29.8 Effect of Sub-Sale or Pledge by the Buyer
	29.9 Right of Re-Sale
	29.10 Right against the Buyer Personally
	29.11 Sale by Auction in Lots
	29.12 Completion of Sale by Auction
	29.13 Right to Bid Reserved by the Seller
	29.14 Right to Bid Not Reserved by the Seller
	29.15 Reserved Minimum Price or Upset Price
	29.16 Pretended Bidding by the Seller to Raise the Price
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
PART 4: Law of Partnership
Chapter Thirty: Essential Elements of Partnership
	30.1 What is a Partnership?
	30.2 Essential Ingredients of a Partnership
	30.3 The terms, ‘Partners’, ‘Firm’, and ‘Name of the Firm’ Defined
	30.4 Partnership has No Legal Significance or Existence
	30.5 Persons Sharing Profit not Necessarily Partners (Section 6)
	30.6 Partnership vs Some Similar Organisations
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Thirty One: Essential Elements of Partnership
	31.1 Illegal Partnership
	31.2 Partnership-at-Will
	31.3 Particular Partnership
	31.4 Registered Partnership Firm
	31.5 Unregistered Partnership Firm
	31.6 Disadvantages of Non-Registration of Firms
	31.7 What Rights of an Unregistered Partnership Firm are Not Affected?
	31.8 Partner by Holding out or by Estoppel
	31.9 Sleeping Partner, or Dormant Partner
	31.10 Nominal Partner
	31.11 Sub-Partner
	31.12 Working Partner
	31.13 Incoming Partner
	31.14 Outgoing Partner (or Retired Partner)
	31.15 Admission of a Minor into an Existing Partnership
	31.16 Mode of Giving Public Notice
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Thirty Two: Rights, Duties, and Liabilities of Partners
	32.1 Rights of a Partner
	32.2 Duties of a Partner
	32.3 Liabilities of a Partner
	32.4 Liability of a Firm for Wrongful Acts of a Partner
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Thirty Three: Dissolution of Partnership
	33.1 Meaning of Dissolution of a Partnership Firm
	33.2 Distinction between Dissolution and Reconstitution of a Partnership Firm
	33.3 Modes of Dissolution of a Partnership Firm
	33.4 Consequences of Dissolution
	33.5 Return of Premium on Premature Dissolution
	33.6 Restraint of Trade by the Buyer of Goodwill
	33.7 Settlement of Accounts
	33.8 Payment of Partnership Debt
	33.9 Sale of Goodwill after Dissolution
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
PART 5: Laws of Employees Benefit*
Chapter Thirty Four: Law of Payment of Bonus
	34.1 Object of the Act
	34.2 Scope and Application of the Act
	34.3 Where the Act is Not Applicable?
	34.4 Accounting Year [Section 2 (1)]
	34.5 Corporation, Company, and Establishment
	34.6 Gross Profit [Section 2 (18)]
	34.7 Available Surplus [Section 2 (6)]
	34.8 Allocable Surplus [Section 2 (4)]
	34.9 Appropriate Government [Section 2 (5)]
	34.10 Award [Section 2 (7)]
	34.11 Direct Tax [Section 2 (12)]
	34.12 Employee [Section 2 (13)]
	34.13 Employer [Section 2 (14)]
	34.14 Salary or Wage [Section 2 (21)]
	34.15 Words Not Defined in the Act [Section 2 (22)]
	34.16 Calculation of Direct Tax (Section 7)
	34.17 Who is Eligible to Receive Bonus (Section 8)
	34.18 Calculation of Bonus (Section 12)
	34.19 Disqualification for Bonus (Section 9)
	34.20 Minimum Bonus (Section 10)
	34.21 Maximum Bonus (Section 11)
	34.22 Proportionate Reduction in Bonus (Section 13)
	34.23 ‘Set on’ and ‘Set off’ of Allocable Surplus
	34.24 Provisions Regarding New Establishments (Section 16)
	34.25 Adjustment of Customary or Interim Bonus (Section 17)
	34.26 Bonus Linked with Production or Productivity (Section 31 A)
	34.27 Time Limit for Payment of Bonus
	34.28 Application in the Public Sector (Section 20)
	34.29 Recovery of Bonus due from the Employer (Section 21)
	34.30 Reference of Disputes (Section 22)
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
	Appendix 34.1
Chapter Thirty Five: Law of Payment of Gratuity
	35.1 Introduction
	35.2 Definitions
	35.3 Application for Payment of Gratuity
	35.4 Determining Amount of Gratuity
	35.5 Dispute Regarding Amount of Gratuity
	35.6 Enforcing the Attendance of any Person
	35.7 Gratuity Payable on Termination of Employment
	35.8 Rate of Gratuity
	35.9 Maximum Gratuity
	35.10 Better Term of Gratuity
	35.11 Mode of Payment of Gratuity
	35.12 Nomination within 30 days
	35.13 Distribution of Gratuity Amount
	35.14 Nominee in Favour of Family Members
	35.15 Modification in Nomination
	35.16 Death of Nominee
	35.17 Date of Operation of Nomination
	35.18 Safe Custody of Nomination
	35.19 Deduction and Forfeiture of Gratuity
	35.20 Protection of Gratuity
	35.21 Recovery of Gratuity
	35.22 Compulsory Insurance
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Thirty Six: Law of Minimum Wages
	36.1 Introduction
	36.2 Definitions
	36.3 Fixation of Minimum Wages [Section 3 (1)(a)]
	36.4 Minimum Time Rate, Minimum Piece Rate, Guaranteed Time Rate, and Overtime Rate of Wages
	36.5 Different Minimum Rates for Different Classes of Employees [Section3 (3)]
	36.6 Different Types of Wages (Minimum Wages, Fair Wages and Living Wages)
	36.7 Objectives and Procedures (Section 5)
	36.8 Advisory Board (Section 7)
	36.9 Wages of a Worker who Works for Less than the Normal Working Days (Section 15)
	36.10 Wages for Overtime (Section 14)
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
PART 6: Law of Consumers’ Protection
Chapter Thirty Seven: Definitions and Rights & Protection of Consumers
	37.1 Objectives
	37.2 Definitions
	37.3 Rights of Consumers
	37.4 Consumer Protection Councils
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Thirty Eight: Remedies and Relief Available to Consumers
	38.1 Nature and Scope of Remedies
	38.2 Who may File a Complaint? (Section 12)
	38.3 What Ttype of Complaint may be Filed?
	38.4 Where the Complaint may be Filed?
	38.5 How to File a Complaint?
	38.6 Procedure on Receipt of the Complaint (Section 13)
	38.7 Powers of the District Forum [Section 13 (4)]
	38.8 Relief Available to Consumers (Section 14)
	38.9 Time-frame for Decision of Consumer Courts
	38.10 Appeal to the State Commission
	38.11 Transfer of Cases (Section 17A)
	38.12 Circuit Branches (Section 17B)
	38.13 Procedure Applicable to State Commission (Section 18)
	38.14 Appeal to the National Commission (Section 19)
	38.15 Hearing of Appeal (Section 19A)
	38.16 Power of and Procedure Applicable to National Commission (Section 22)
	38.17 No Power to Grant Interim Stay (Temporary Injunction) to the Consumer Forums
	38.18 Appeal to the Supreme Court Against the Orders of National Commission (Section 23)
	38.19 Finality of Order (Section 24)
	38.20 Limitation Period (Section 24A)
	38.21 Vacancies or Defects in the Appointment will not Invalidate the Order (Section 29A)
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
PART 7: Law of Companies
Chapter Thirty Nine: Nature of Companies: Their Types and Formation
	39.1 Definition
	39.2 Main Characteristic Features of a Company
	39.3 Main Types of Companies
	39.4 Distinguishing Features of Public and Private Companies
	39.5 Conversion of a Private Company into a Public Company
	39.6 Conversion of a Public Company into a Private Company
	39.7 A Holding Company and a Subsidiary Company
	39.8 One-Man Company
	39.9 Promotion
	39.10 Registration (Sections 12 and 33)
	39.11 Certificate of Incorporation and its Consequences
	39.12 Floatation
	39.13 Certificate to Commence Business
	Let us Recapitulate
	Questions for Reflection
	Problems for Practise (With Suggested Solutions)
Chapter Forty: Memorandum and Articles of Association
	40.1 Meaning and Purpose of Memorandum of Association
	40.2 Form and Content
	40.3 Alteration in Memorandum of Association
	40.4 Consolidation and Sub-Division (Splitting) of Shares
	40.5 Meaning and Purpose of Articles of Association
	40.6 Registration of Articles of Association
	40.7 Alteration of Articles of Association
	40.8 Restrictions on Power for Alteration of Articles of Association
	40.9 Doctrine of Indoor Management
	40.10 Issuance of Shares in Public Companies
	40.11 Underwriting
	40.12 Sub-Underwriting
	40.13 Brokerage Contracts
	40.14 Listing of Shares in the Stock Exchange(s)
	40.15 Issuance of Public Deposit
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Forty One: Share Capital and Debentures, Equitable Mortgage, and Registration of Charges
	41.1 Shares
	41.2 Shares vs Share Certificates
	41.3 Shares vs Stocks
	41.4 Different Types of Shares
	41.5 Some Terminologies
	41.6 Some Other Terminologies
	41.7 Types of Secured Loans
	41.8 Equitable Mortgage
	41.9 Unsecured Loans
	41.10 What is a Debenture?
	41.11 Characteristic Features of a Debenture
	41.12 Debenture Stocks
	41.13 Debenture Capital
	41.14 Types of Debentures
	41.15 Debenture Trust Deed
	41.16 Investments in Company’s Own Name
	41.17 Borrowing and Power to Borrow
	41.18 Registrations of Charges (Section 125)
	41.19 Fixed and Floating Charges
	41.20 Mortgages are Broadly of Two Types
	41.21 Why Equitable Mortgage?
	41.22 Immovable Items of Machinery
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Forty Two: Management of Company
	42.1 Need for Meetings
	42.2 Statutory Meeting (Section 165)
	42.3 Annual General Meeting (AGM) (Sections 166 to 168)
	42.4 Extra-Ordinary General Meeting (EGM) (Sections 169)
	42.5 Class Meetings (Section 107)
	42.6 Proxy (Section 176)
	42.7 Passing of Resolution by Postal Ballot (Section 192A)
	42.8 Maintenance of Accounts by Companies
	42.9 Appointment of Auditors
	42.10 Payment of Dividends
	42.11 Payment of Interim Dividends
	42.12 Investigation of the Affairs of the Company
	42.13 Managerial Personnel
	42.14 Legal Position of Directors
	42.15 Minor as a Director
	42.16 Managing Director
	42.17 Manager
	42.18 Whole-Time Director
	42.19 Company Secretary
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Forty Three: Winding-up and Dissolution of Companies
	43.1 Definition of Winding–up of a Company
	43.2 Different Modes of Winding–up
	43.3 Compulsory Winding–up, under an Order of the Court
	43.4 Voluntary Winding–up
	43.5 Voluntary Winding–up under Supervision of the Court
	43.6 Liquidators
	43.7 What is Dissolution of Company?
	43.8 Modes of Dissolution of Company
	43.9 Dissolution of Defunct Companies (Section 560)
	43.10 Dissolution in Pursuance of Amalgamation or Reconstruction [Section 394 (1)]
	43.11 Dissolution in Pursuance of Winding–up
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
PART 8: Law of Industrial Disputes
Chapter Forty Four: Object, Scope, and Definitions
	44.1 Objects
	44.2 Definitions
	44.3 Various Methods of Investigation, Management and Settlement of Industrial Disputes
	44.4 Voluntary Reference of Disputes to Arbitration (Section 10A)
	44.5 Procedure, Powers, and Duties of Authorities under the Act (Section 11)
	44.6 Jurisdiction and Powers of Tribunal and Court
	44.7 Award and its Commencement
	44.8 Settlement
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Chapter Forty Five: Strikes and Lockouts; Lay Off, Retrenchment, and Closure
	45.1 Prohibition of Strikes and Lockouts
	45.2 Prohibition of Lockouts
	45.3 General Prohibition of Strikes and Lockouts (Section 23)
	45.4 By Order of the Government
	45.5 Illegal Strikes and Lockouts
	45.6 Prohibition of Financial Aid to Illegal Strikes and Lockouts (Section 25)
	45.7 Punishment for Illegal Strike
	45.8 Offences and Penalties
	45.9 Lay Off
	45.10 Conditions Under Which the Workmen can be Laid Off
	45.11 Prohibition on Lay Off
	45.12 Procedure of Lay Off
	45.13 Lay Off Compensation to Workmen
	45.14 Continuous Service
	45.15 Workmen not Entitled to Lay Off Compensation
	45.16 Retrenchment
	45.17 Procedure for Retrenchment (Section 25G)
	45.18 Retrenchment Compensation
	45.19 Continuous Service
	45.20 Penalty for Lay Off and Retrenchment without Permission
	45.21 Closing Down of Undertaking (Section 25 FFA)
	45.22 Compensation to Workmen in case of Closing Down of Undertaking (Section 25 FFF)
	45.23 Transfer of Proceedings
	45.24 Recovery of Money due to a Workman from an Employer
	45.25 Representation of Parties (Section 36)
	45.26 Prohibition of Unfair Labour Practice (Section 25 T)
	45.27 Penalty for Committing Unfair Labour Practice (Section 25 U)
	45.28 Obligations and Rights of Employers and Workers
	Let us Recapitulate
	Questions for Reflection
	Problems for Practice (With Suggested Solutions)
Bibliography