Free notes, textbooks, and exam-focused resources designed for Indian banking professionals.
Partners in a firm stand in a fiduciary relationship, obligated to act with utmost good faith for the greatest common advantage of the firm, while sharing profits and losses per…
A partnership is the relation between persons who agree to share the profits of a business carried on by all or any of them acting for all, capturing the core…
Partners are agents of the firm for business purposes, so acts within the usual course bind the firm and all partners to third parties, subject to statutory limits, agreed restrictions…
Dissolution of a firm means the complete breakup of the partnership relation among all partners and cessation of the firm’s business, followed by winding up, realization of assets, discharge of…
Non‑registration does not invalidate the partnership, but it imposes significant disabilities on enforcing contractual rights in courts; registration cures these disabilities by enabling the firm and partners to sue, claim…
In modern business law and finance, the company has emerged as the most dominant form of business organization, offering features that distinguish it from traditional structures like partnership firms. To…
Companies in India are classified along multiple dimensions—how they are formed, member liability, public-interest footprint, and control relationships such as holding–subsidiary—each with distinct compliance and governance implications for banking and…
The Memorandum of Association (MoA) and Articles of Association (AoA) are the two core constitutional documents of a company: the MoA defines the company’s external scope and objects, while the…
The doctrines of ultra vires, constructive notice, and indoor management collectively define the boundaries of a company’s powers and an outsider’s rights when dealing with a company; in essence, ultra…
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