It is important to distinguish between an offer and an invitation to treat because the legal consequences are different. An offer can be accepted to…
Vouching vs Tracing: Vouching and tracing are both techniques used by auditors to verify the accuracy of a company’s financial records, but they involve reviewing…
Executed and Executory contract: There are many types of contracts. On the basis of the extent to which contracts have been performed, they may be…
“Damnum sine injuria” and “injuria sine damnum” are the two most important maxims that are used to determine liability in tort. In general, a tort…
Sometimes tort and breach of contract are found a little confusing since both of them entitle the affected party to claim legal damages. In this…
Many definitions of “tort” are given by different authors and Acts. One among them is described under Section 2(m) of the Limitation Act of 1963.…
Understanding tort and quasi-contract: In general, the law of torts deals with a system that enables a person to claim damages in a civil suit…
Differentiating AGM and EGM: The Companies Act of 2013 does not define the term “meeting”. Usually, a meeting means a gathering of people to discuss…
Error and Fraud in Audit: You must be knowing that the primary objective of an audit is to express an opinion on the truthfulness and…
We enter into many contracts in our day-to-day life. Sale and bailment are two of them. A “contract of sale” is a simple contract in…