Question
Who is authorized to compound an offence punishable with
fine only, and what is the maximum sum that can be collected for compounding under the LLP Act?Solution
Section 39. Compounding of offences.—(1) Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974), the Regional Director or any other officer not below the rank of Regional Director authorised by the Central Government may compound any offence under this Act which is punishable with fine only, by collecting from a person reasonably suspected of having committed the offence, a sum which may extend to the amount of the maximum fine provided for the offence but shall not be lower than the minimum amount provided for the offence.
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Is According to the Contract Act Consideration not necessary_____________
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Where by a contract of sale, the seller purports to effect a ………………… the contract operates as an agreement to sell
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