business studies and bodheswar

CONDITION AND WARRANTIES Every contract is made up of stipulations which are divided into two categories, namely, conditions and warranties. Condition- condition is a stipulation essential to the main purpose of the contract, breach of which give rises to treat the contract repudiated. Eg Warranty- is a stipulation collateral to the main purpose of the contract, breach of which cannot treat the contract repudiated but give right to claim for damages. Eg Distinction between condition and warranty It is essential to the main purpose of the contract On breach of condition contract may be repudiated On breach of condition buyer may reject the goods In breach of condition aggrieved party is not bound to perform the contract The buyer may treat the breach each of the conditions as breach of the warranty only It is collateral to the main purpose of contract On breach of warranty contract cannot be repudiated, but only dama

Research problem In research process, the first and foremost step is the selection and defining a research problem. A researcher must find the problem and formulate it so that it becomes susceptible to research. Just like a doctor, a researcher must examine all the symptoms concerning a problem before he can diagnose correctly. Research problem is in general refers to some difficulty which a researcher experience and wants to obtain a solution for the same. Source of research problem The research problem may be selected from the following sources · Theory of one’s own interest · Daily problems · Technological changes · Unexplored areas · Discussions with experts and authorities including the supervisor or research advisor. Criteria for a good research problem · Relation between variables expressed; The problem should express a relation between two of more variables · Clarity an

Public finance Public Finance deals with the way in which the State acquires and expends its means of subsistence. That is the income and expenditure of public authorities. Public authorities include all sorts of governments- Central, state and local self governments. Public revenue or income As public expenditure is necessary for the government to perform its various functions for the welfare of the society, so it requires public revenue. The income of the government through all sources is called public income of public revenue. Sources of public revenue A. Permanent Revenues. I . Regular revenues. i.Derived directly from government ownership.. Revenues from public industries. a'. Industries publicly owned and managed. Industries publicly owned, but managed by lessees under a charter. ii. Derived from the incomes of private persons and corporations. a.Fees. b.Special assessments. c.Taxes. II. Irregular and miscellaneous. Fines and penalti