Teacher Image

Vivek Singh

Economics

Timeline

teacher Image

29-Mar-2020 17:56:35 PM

Force Majeure

In view of the COVID-19 pandemic, a word which is frequently being used is "Force Majeure". Let us understand this as it is now relevant for your exam.

Force Majeure is a French phrase that means a ‘superior force’. 

The law relating to Force Majeure is embodied under Sections 32 and 56 of the Indian Contract Act, 1872. It is a contractual provision agreed upon between parties. The occurrence of a force majeure event protects a party from liability for its failure to perform a contractual obligation. Typically, force majeure events include an Act of God or natural disasters, war or war-like situations, epidemics, pandemics, etc. The intention of a force majeure clause is to save the performing party from the consequences of something over which it has no control. Force Majeure is an exception to what would otherwise amount to a breach of contract. This term is generally  used in commercial contracts. 

A lot of companies have now already declared/accepted "COVID-19" as a "Force Majeure" event.
Comments
Comment Icon  0

teacher Image

15-Mar-2020 16:25:05 PM

Additional Tier 1 Bonds (Yes Bank Crisis) By - Vivek Singh

Comments
Comment Icon  0

teacher Image

07-Feb-2020 15:43:37 PM

RBI kept repo rate unchanged but used other measures for transmission

useful link: https://www.thehindu.com/business/Economy/rbi-opts-for-long-term-repos-crr-exemption-to-lower-rates/article30755075.ece

Comments
Comment Icon  0

teacher Image

03-Feb-2020 00:01:18 AM

Budget


PDF Icon  View

Comments
Comment Icon  0

teacher Image

29-Jan-2020 09:19:22 AM

Comments
Comment Icon  0

teacher Image

28-Jan-2020 12:06:23 PM

Related Party Transactions

Related party transactions: The transactions which happen between group companies i.e. companies of the same owner. And these transactions should be at market rate which is also called arms length principle.

useful link: https://indianexpress.com/article/business/sebi-panel-proposes-overhaul-of-related-party-transaction-norms-6238541/

Comments
Comment Icon  0

teacher Image

24-Jan-2020 12:48:47 PM

Term of the day : Bail-in and bail-out:

Bail-in and bail-out : A bail-in is rescuing a financial institution on the brink of failure by making its creditors and depositors take a loss on their holdings. A bail-in is the opposite of a bail-out, which involves the rescue of a institution/ financial institution by external parties, typically government using taxpayers money.


PDF Icon  View

Comments
Comment Icon  0

teacher Image

24-Jan-2020 12:47:01 PM

Term of the day : Fiscal Drag

It is a situation where income growth or inflation moves taxpayers into higher tax brackets. This in effect increases government tax revenue without actually increasing tax rates. The increase in taxes reduces aggregate demand and consumer spending because a larger share of the people’s income now goes into taxes, which leads to deflationary pressures or drag on the economy.


PDF Icon  View

Comments
Comment Icon  0

Center Icon

Total Centres

4

Teacher Icon

Teachers & Instructors

80

Courses Icon

Total Courses

60