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5 Cards in this Set
- Front
- Back
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Business law |
Business law may be defined as that branch of legal system that regulates business activities and provides for an orderly conduct of business affairs and also for settlement of legitimate business disputes in a just and systematic manner . |
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Contract |
An agreement which is enforceable by the court of law is called a contract . |
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Agreement |
It is defined as every promise and every set of promises forming the consideration for each other |
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Promise |
When the person to whom the proposal is made signifies his assent thereto ,the proposal is said to be accepted .A proposal when accepted ,becomes a promise . |
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Proposal |
When one person signifies to another his willingness to do or to abstain from doing anything ,with a view to obtain assent of that other party to such an act or abstinence ,he is said to make a proposal . |
