Question
How many parties are there in a contract of
guarantee?Solution
Contract Act Section 126 - A "contract of guarantee" is a contract to perform the promise, or discharge the liability, of a third person in case of his default. The person who gives the guarantee is called the "surety", the person in respect of whose default the guarantee is given is called the "principal debtor", and the person to whom the guarantee is given is called the "creditor". A guarantee may be either oral or written.
In insurance accounting, what do insurance companies set aside to account for potential claims that may arise after the closing date but within the pol...
Under AS 6, which of the following cannot be considered a method of depreciation?
Which is not a method of overhead apportion mechanism?
Who generates contract on GeM?
Liability for the drawer for the bill discounted is a:
Time of supply means
If Selling Price is 9 per unit, variable cost is 5 per unit and fixed cost is 100000, what is the Margin of safety in Qty if the budgeted units are 1,00...
ABD Limited received 5,90,000 as premium on new policies and 1,20,000 as renewal premium. The company received 90,000 towards reinsurance accepted and p...
An interface that communicates with other tiers in a three-tier architecture structure is known as ________.
Agent should not deal on his own account without first obtaining the consent of the principal, otherwise the principal may—
