Section 230 of Indian Contract Act Agent cannot personally enforce, nor be bound by, contracts on behalf of principal—In the absence of any contract to that effect, an agent cannot personally enforce contracts entered into by him on behalf of his principal, nor is he personally bound by them. Presumption of contract to contrary—Such a contract shall be presumed to exist in the following cases:— (1) where the contract is made by an agent for the sale or purchase of goods for a merchant resident abroad; (2) where the agent does not disclose the name of his principal; (3) where the principal, though disclosed, cannot be sued.
Two firms, X and Y, began a joint venture by investing in a ratio of 9:16. After six months, Firm Y withdrew its entire investment. At the end of the ye...
A, B and C started a business together with Rs 12,000, Rs 12,000 and Rs 8,000 respectively. B worked only for ‘x’ months while C left the business ...
Palash invest thrice the sum invested by Vicky and withdraws half of the sum after 3 months and again withdraws half of the remaining sum after 5 months...
In a business, A invested Rs. 2000 more than that by B. After 7 months, A left the business. If at the end of the year, profit earned by B is equal to t...
Manoj and Naveen started a business with the investment of Rs. (y-900) and Rs. (y+1300) respectively. After four months of the start of business, the in...
‘A’ and ‘B’ invested Rs. 4800 and Rs. 3200, respectively in a business, together. After 6 months, ‘A’ withdrew 35% of his initial investment...
'A' and 'B' started a business by investing Rs. '3x' and Rs. '6x' respectively. Four months later, 'A' withdrew Rs. 500 from his investment whereas 'B' ...
A and B started a business with investments in the ratio 5:4 respectively. After 4 months, C joined them with an investment 50% more than the inv...
A, B and C invest in a partnership in the ratio 9:6:11 and investment of A is Rs.200 less than investment of C. Partner B invests for 1/5th and A and C ...
X, Y, and Z join a partnership and invest some amount. After one year, X doubles its investment, Y increases its investment by 33(1/3)%, and Z increases...