Principle of Maximum Social Advantage The ‘Principle of Maximum Social Advantage’ was introduced by British economist Hugh Dalton. Public Finance” is concerned with income & expenditure of public authorities and with the adjustment of one with the other. Budgetary activities of the government results in transfer of purchasing power from some individuals to others. […]
Difference Between Public and Private Goods Public goods have two distinct aspects: nonexcludability and nonrivalrous consumption. Non rivalry means consuming good doesn’t reduce amount available to other people and Non excludable means once provided you can’t stop anyone consuming it.Private good, a product or service produced by a privately owned business and purchased to increase […]
Meaning & Scope of Public Finance Meaning of Public Finance The word public refers to general people and the word finance means resources. So public finance means resources of the masses, how they are collected and utilized. Thus, Public Finance is the branch of economics that studies the taxing and spending activities of […]
Sale of Goods Act 1930 Till 1930,transactions relating to sale and purchase of goods were regulated by the Indian Contract Act,1872.In 1930,Sections 76 to 123 of the Indian Contract Act, 1872 were repealed and a separate Act called ‘The Indian Sale of Goods Act,1930 was passed.It came into force on 1st July,1930.With effect from 22nd […]
Special Contracts Indemnity The term ‘Indemnity` Simply means ‘Making Somebody Safe` or ‘Paying Somebody back`. Section 124 of contract Act defines that ‘‘A contract by which one party. Promises to save the other from loss caused to him by the conduct of the promise himself by the conduct of any other person, is called a […]
Breach of Contract and Remedies A breach of contract occurs when a party thereto renounces his liability under it, or by his own act makes it impossible that he should perform his obligations under it or totally or partially fails to perform such obligations. The failure to perform or renunciation may take place when […]
Performance of Contract Regarding the performance of contract Section 37 of the Act states that the parties to a contract must either (i) perform their respective promises or (ii) offer to perform the same; (iii) such performance is dispensed with or (iv) excused under the provisions of the Act or of any other law. Time […]
Law of Contract (1872) Law of Contract 1.1 Nature of contract The Law of Contract came into force on 1 September 1872. 1. The Indian Contract Act was passed and implemented to control various kinds of commercial and business contracts. 2. This act is not complete code of contracts. It deals with general principles […]
Brand Value chain Brand value chain is a structured approach to assessing the sources and outcomes of brand equity and the manner by which marketing activities create brand value. It provides insights to support the various decision makers in the company and stresses that every member of the company contribute to this branding effort. It believes that the […]
Celebrity Endorsement – Definition, Meaning, Determinants, Advantages and Disadvantages Definition “A form of brand or advertising campaign that involves a well known person using their fame to help promote a product or service.” ” Endorsements are a form of advertising that uses famous personalities or celebrities who command a high degree of recognition, trust, respect or awareness amongst the people.” Meaning Celebrity branding or celebrity endorsement is a form […]
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