Question
In which of the following cases, the Supreme Court of
India strack down a clause in the service agreement whereby service of a permanent employee could be terminated by giving 3 months notice, as treasonable and opposed to public policy?Solution
In Central Inland Water Transport Corp. Ltd v. Brojo Nath, the Supreme Court struck down a clause in service agreement whereby the service of a permanent employee could be terminated by giving him a 3 months’ notice or 3 months’ salary. It was held that such clause was unreasonable and against public policy and void under section 23 of Indian Contract Act. ………..Under section 24, if any part of a single consideration for one or more objects, or any one or any part of any one of several considerations for a single object is unlawful, the agreement is void. The agreement is, however, not always void in its entirety for it is well settled that if several distinct promises are made for one and the same lawful consideration, and one or more of them be such as the law will not enforce, that will not of itself prevent the rest from being enforceable.
Which Five Year Plan in India has the tagline – Faster Sustainable and more inclusive growth?
As per the Income Tax Act of 1961, Section 115JB, the Minimum Alternate Tax (MAT) is calculated at what percentage of the book profit?Â
Which goods are described by the law of diminishing marginal utility?Â
During periods of inflation, tax rates shouldÂ
Identify the true characteristics of a Capital Good.
   A. It is a produced durable output of a man-made process.
   B. It again a...
What is the base year currently used for the calculation of the Wholesale Price Index (WPI) in India?
Match the following Important Books on Economics with their respective Authors.
Books on Economics Author
(i) The Wealth of Nations A. I...
What is the primary aim of currency devaluation?Â
Which one of the following pairs is correctly matched?
The monetary policy is India is formulated by which of the following authority?