Firm Offer - Law Dictionary Search Results
Home Dictionary Name: firm offerfirm offer
firm offer : a binding written offer to buy or sell that cannot be revoked for a stipulated period of time or for a reasonable time that in no event exceeds three months ...
Firm
Firm, a firm is not a legal entity. It is only a collective or compendious name for all the partners. In other words, a firm does not have any existence away from its partners. A decree in favour of or against a firm in the name of the firm has the same effect as a decree in favour of or against the partners. While the firm is incurring a liability it can be assumed that all the partners were incurring that liability and so the partners remain liable jointly and severally for all the acts of the firm. This principle cannot be stretched and extended to such situations in which the firm is deemed to be a person and hence a legal entity for certain purpose, Dena Bank v. Bhikhabhai Prabhudas Parekh, (2000) 5 SCC 694: AIR 2000 SC 3654 (3660).The name of style under which any business is established. 'Partners who have entered in partnership with one another are' for the purposes of the Partnership Act (see PARTNERSHIP) called collectively a firm, and the name under which their business is c...
Partners of a firm
Partners of a firm, the status of a partner qua the firm with reference to the provisions of the Partnership Act, the concept of 'employer' and 'employee' and the importance of the definition of 'wages' as also various Indian and foreign decisions are clearly indicative of the principle that a partner who belongs to the class of employer cannot rank as employee because he also works for wages for the partnership. In common parlance the status of a partner qua the firm is thus different from em-ployees working under the firm. It may be that a partner is being paid some remuneration for any special attention which he devotes but that would not involve any change of status and bring him within the definition of employee. In a partnership firm, which is not a legal entity, each partner acts as an agent of the other. The position of a partner qua the firm is thus not that of a master and a servant or employer and employee which concept involves an element of subordination but that of equali...
Partnership firm of Hindu undivided family
Partnership firm of Hindu undivided family, a firm in a partnership and a Hindu undivided family are recognised as legal entities and as such proceedings can only be taken against the firm or un divided family as the case may be. Neither the partners of the firm nor the members of the Hinduundivided family will be liable for the tax assessed against the firm or the undivided Hindu family, Commissioner of Sales Tax v. Radhakirhshan, AIR 1979 SC 1588: (1979) 2 SCC 249: (1979) 2SCR 33....
public offering
public offering : an offering of corporate securities to the general public or to potential purchasers whose level of knowledge or access to information about the securities is dependent upon the disclosures of the corporation compare private offering NOTE: Public offerings are subject to the requirements of the Securities Act of 1933 for filing a registration statement before the offering can take place. ...
Firm
Fixed hence closely compressed compact substantial hard solid applied to the matter of bodies as firm flesh firm muscles firm wood...
Act of a firm
Act of a firm, means any act or omission by all the partners, or by any partner or agent of the firm which gives rise to a right enforceable by or against the firm. [Indian Partnership Act, 1932 (9 of 1932), s. 2(a)]...
Offer of shares to the public
Offer of shares to the public. Shares and debentures of limited companies, when allotted or agreed to be allotted with a view to sale to the public, must when offered to the public comply with the provision of s. 38 of the Companies Act, 1929; and see PROSPECTUS. Further, any offer in writing to any member of the public of any shares for purchase except as provided, i.e. (a) shares dealt in with permission of any recognised stock exchange in Great Britain; (b) shares allotted with a view to sale to the public; and (c) offers to persons doing regular business in the purchase or sale of shares, must comply with s. 356 of the same Act; s. 356 also absolutely prohibits 'share pushing,' i.e., any person going from house to house (not being an office used for business purposes) offering shares for subscription or purchase to the public or any member of the public...
offer
offer 1 : a proposal, promise, or other manifestation of willingness to make and fulfill a contract or to bargain under proposed terms with another party that has the power to accept it upon receiving it [denied accepting the ] see also revoke, tender offer 2 : a price named by one proposing to buy (as in a bid, bargain, or settlement) : the amount of an offer to pay money [decided the was too low] offer vb ...
private offering
private offering : the sale of an issue of securities directly by the issuer to one or a few large investors without any public offering called also private placement compare public offering NOTE: A private offering is exempt from the requirements of filing a registration statement with the Securities and Exchange Commission and distributing prospectuses to potential buyers before the sale. ...
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