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07Oct 2018 by Reese Bannister

Legal Provisions of Section 23 of the Hindu Marriage Act, 1955 – Decree in Proceedings

Marriage

Decree in Proceedings—Section 23: Section 23 lays down certain principles for the guidance of the court and also the conditions on the satisfaction of which, the court may pass a decree in the proceedings under the Act “whether dependend or not”. Image Source: kari-joys.comSub-section (2) however enjoins upon the court a duty to make every endeavour in the first instance to bring about reconciliations between the parties in every case where it is possible to do so consistently with the nature and circumstances of the case. Sub-section (1) lays down that only after the court is satisfied with the existence of the conditions mentioned in sub-clauses (a) to (e). The court shall decree the relief prayed for, but not otherwise. The petitioner is required to prove those grounds strictly upon…

07Oct 2018 by Reese Bannister

10 Important Objectives of Inventory Management

Accounting

The investment in inventory is very high in most of the organisations engaged in manufacturing, wholesale and retail trade. The amount of investment is sometimes more in inventory than in other assets. image source: boardroommetrics.comAbout 90% part of working capital is invested in inventories. It is necessary for every management to give proper attention to inventory management. A proper planning of purchasing, handling, storing and accounting should form a part of inventory management. An efficient system of inventory management will determine (a) what to purchase (b) how much to purchase (c) from where to purchase (d) where to store, etc. ADVERTISEMENTS: The purpose of inventory management is to keep the stock in such a way that neither there is overstocking nor understocking. The overstocking will mean a reduction of liquidity…

07Oct 2018 by Reese Bannister

Essay on Important Theories of Motivation

Decision Making

Essay on Important Theories of Motivation!Motivations can be studied through several broad approaches. There are “Content theories” which focus on the internal needs that motivate people. The “Process theories” of motivation focus on how people choose certain behaviours to satisfy their needs and how they judge their satisfaction. Image Source: davidcbetts.files.wordpress.com/2012/04/hierarchy-of-needs.jpg ADVERTISEMENTS: The “Reinforcement theory” focuses on the relationship between behaviour and its consequences. The interest here is to manipulate consequences in order to change any undesirable behaviours into desirable ones. These theories are described in greater detail. The Content Theories of Work Motivation: The content theories have been developed to explain the nature of motivation in terms of types of needs that people experience. They attempt to focus on factors within a person that initiate and direct a certain…

07Oct 2018 by Reese Bannister

Different types of Confessions which are relevant and admissible under Indian Laws

Law

The following three types of confessions are relevant and admissible, viz.—1. Confession made after removal of threat, inducement or promise. (S. 28):If such a confession, as is referred to in S. 24, is made after the impression caused by any such inducement, threat or promise has, in the opinion of the Court, been fully removed, it is relevant. Image Source: meggiekornelsen.com ADVERTISEMENTS: This is an exception to the rule contained in S. 24. It lays down the conditions under which a confession, which is rendered irrelevant by S. 24, may become relevant. If it is proved, to the complete satisfaction of the Court, that the impression produced by the threat or promise has been totally removed, e.g., by lapse of time or by any intervening caution given by a person…

07Oct 2018 by Reese Bannister

Extra-Judicial Confessions – Indian Evidence Act, 1872

Essays

Extra-judicial confessions are those confessions which are made either to the police or to any other person other than judges and magistrates as such. The Supreme Court has observed in State of Punjab v. Bhajen Singh (1975 4 S.C.C. 472) that an extra-judicial confession is a very weak piece of evidence. Image Source: scottfillmer.files.wordpress.comAn extra-judicial confession, if voluntary, can be relied upon by the Court, along with other evidence, in convicting an accused. The confession will have to be proved just like any other fact. The value of evidence as to the confession, just like any other evidence, depends upon the veracity of the witness to whom it is made. (Mulk Raj. v. State of U.P. (A.I.R. 1959 S.C. 902) usually and as a matter of caution, Courts require some…

07Oct 2018 by Reese Bannister

Distinction between ‘Relevant Fact’ and ‘Fact in Issue’

Essays

Distinction between ‘Relevant Fact’ and ‘Fact in Issue’ are as follows:Facts in issue are the matters which are in dispute or which form the subject of decision in the suit. They are facts out of which some legal right, liability, or disability, involved in the inquiry, necessarily arises and upon which a decision must be arrived at. They are matters affirmed by one party and denied by the other. Image Source: image.superstreetonline.com ADVERTISEMENTS: Thus, if A is accused of the murder of B, the facts in issue will be that A caused B’s death, that he intended to cause B’s death, and so on. Relevant facts, on the other hand, are facts so connected with each other as to prove or disprove the facts in issue. Relevant facts are not…

07Oct 2018 by Reese Bannister

Essay on the Basic Principles of Organization

Management

Every enterprise sets its own goals and people working in the enterprise are in pursuit of these goals. In order to make it possible for people to work effectively towards accomplishing goals, an internal structure or roles or positions must be designed. image source: c14608526.r26.cf2.rackcdn.comThis managerial function is called organising. Thus, organising is a basic process a manager uses to unite the work of different people towards a common objective. Irrespective of the number of people large and small their effective co-operation is possible through organisation. ADVERTISEMENTS: According to Peter F. Drucker, “A good organisation structure does not by itself produce good performance just as a good constitution does not guarantee great Presidents, or good laws of a moral society. But a poor organisation structure makes good performance impossible, no…

06Oct 2018 by Reese Bannister

Difference between “Presumptions of Law” and “Presumptions of Fact”

Law

Difference between Presumptions of Law and Presumptions of Fact are as follows:Presumptions of Law: Image Source: androidheadlinescom ADVERTISEMENTS: 1. Discretion of Court —No discretion is vested in the Court at all. The law peremptorily requires a certain inference to be made whenever the facts appear which the law assumes as the basis of the inference.2. Rules of law —Presumptions of law are, in reality rules of law and part of the law itself. ADVERTISEMENTS: 3. Presumptions of law must be drawn.4. Kinds —There are two kinds of presumptions of law — rebuttable and irrebuttable.Presumptions of Fact: ADVERTISEMENTS: 1. A discretion, more or less extensive as to drawing the inference, is vested in the tribunal.2. Presumptions of fact are not rules of law.3. Presumptions of fact may or may not be…

06Oct 2018 by Reese Bannister

Short Essay on the Exchange Risk Management in the International Business

Management

During the halcyon days of fixed exchange rates the period between World War II to 1971 when major currencies were pegged to each other, occasional changes in the external values of currencies were made only under extreme circumstances that too through devaluation in neat steps against the dollar Furthermore, indications of likely rate changes were normally available to the market well in advance. image source: oswaldcompanies.comManagement of foreign exchange risk, therefore, was not really one of the crucial inputs of an organisation with international operations in those days. The priorities have, however, changed dramatically in the present era of floating exchange rates, when management of foreign exchange risk has become very important and simultaneously also very complex. ADVERTISEMENTS: External values of currencies are affected by a variety of causes such…

06Oct 2018 by Reese Bannister

6 Important Features of Exchange Rate Management for Indian Companies

Management

The important features of exchange rate management for Indian companies are listed below:1. Managing the exchange risk arising out of import/export transactions is possibly the most relevant for Indian Companies. There is a forward market in India where forward cover for normally upto 6 months can be obtained by the companies. image source: blog.orbitremit.com ADVERTISEMENTS: While taking decisions in this regard, they have to consider the Exchange Control Regulations in India, currency price movements in the international markets and the trends in rupee exchange rates.2. The simplest objective of an active exchange risk management system would be to obtain the most favourable exchange rate for all the foreign currency transactions of the company.The really effective method of managing currency exposure is to budget for specific rate of exchange for the…