8. EXAMPLE
A-offerror
1 Jan
B-acceptor
post letter of offer
Pos letter of acceptance
(put the letter into a
letter box)
A cannot
cancel
the contract
8 Jan
5 Jan
–s.4(2)(a) - Acceptance is completed
against A when the letter is
posted
receives letter of acceptance from B
- S.4(2)(b) – acceptance completed against B
8
16. LAW OF CONTRACT
FORMED UNDER
CONTRACT ACT 1872
IF NOT FOR
PROFIT
FORMED UNDER
PARTNERSHIP ACT 1932
IF FOR
PROFIT
PROFIT
NO
PROFIT
LAW OF
PARTNERSHIP
NO
BUSINESS
BUSINESS
16
20. TIME PERIOD
LAW OF
PARTNERSHIP
LAW OF
CONTRACT
Agreement finished not
business (just for partnership
at will)
Contract become finished
after certain time period
SAM
E
Particular partnership finished
( after completion of project)
20
21. BREACH OF CONTRACT
DISSOUTION OF PARTNER SHIP
LAW OF
PARTNERSHIP
LAW OF CONTRACT
COMPALSORY
BY AGREEMENT
BY NOTICE
BY COURT
21
22. SAME THINGS BETWEEN BOTH LAWS
CASE OF UNSOUND MIND PERSON
CASE OF DEATH OF ONE PARTY OR PARTNER
END OF TIME PERIOD (FOR PARTICULAR PARTNERSHIP)
AGREEMENT
CAPCITY OF PARTIES
COMMUNICATION BETWEEN PARTIES
22
23. DIFFERENT THINGS BETWEEN BOTH
LAWS
PROFIT AND LOSS
MINORITY
RIGHTS AND DUTIES OF PARTIES
FORMATION
23