What is the doctrine of waiver?
What is the doctrine of waiver?
Waiver is a general contract-law doctrine that permits the enforcement of terms different from those in the original contract (or, as is more common in the insurance context, permits the non-enforcement of terms that are in the original contract) without requiring all of the elements of a new contract (such as …
What is doctrine of severability?
The doctrine of severability means that when some particular provision of a statute offends or is against a constitutional limitation, but that provision is severable from the rest of the statute, only that offending provision will be declared void by the Court and not the entire statute.
What is doctrine of reasonable classification?
The Test of Reasonable Classification says that the classification must be based upon intelligible differentia that distinguishes persons or things that are grouped from others that are left out of the group. This differentia must have a rational relation to the object of classification.
What is the doctrine of laches in real estate?
Real Estate Glossary Term. Laches. An equitable doctrine used by the courts to bar a legal claim or prevent the assertion of a right because of undue delay, negligence, or failure to assert the claim or right.
What is laches defense?
Laches defense is a legal defense that you can claim in a civil dispute if an unreasonable amount of time has passed since the incident has actually occurred. Laches defense prevents someone from ambushing another person by failing to make a legal claim in a timely fashion.
What is Lashe?
(Entry 1 of 3) intransitive verb. 1 : to move violently or suddenly : dash. 2 : to thrash or beat violently rain lashed at the windowpanes.
What is the meaning of losses?
unrecoverable and unanticipated
What is meant by partner by estoppel?
Partnership by estoppel means that a person who is not technically a partner can be held liable as a general partner would be for any debts and damages owed to a third party.
Who is a secret partner?
A secret partner is one whose association with the firm is unknown to the general public. Other than this distinct feature, in all other aspects he is like the rest of the partners.
Who is called a nominal partner?
: a person who holds himself out as a partner or permits a partner to hold him out as a copartner though in fact he is not a partner.
What is partner in profit only?
Partner in Profits Only: A partner sharing the profits of the business without making himself responsible for losses, if any, is known as partner in profits only. He contributes capital and is also liable to the third parties like other partners.
Which of the following a partner Cannot do without the consent of other partners?
A partner can transfer his interest so as to substitute the transferee in his place as the partner, without the consent of all the other partners; a member of company cannot transfer his share to any one he likes.
Can a person be partner in 2 firms?
If there are more than two partners in a firm, an individual can be a partner in his individual capacity as well as in a representative capacity as Karta of the Hindu undivided family. FIRM: A partnership firm is not a person and therefore a firm can not enter into partnership with any firm or individual.
Can a partner be exempt from sharing losses?
Yes, a partner may be exempted from bearing losses in a Partnership Firm. If a partner (who is a minor) is admitted for the benefits of partnership, in such cases, minors are entitled to share only profits of the firm.
