NEWS & BLOGS EXCLUCIVELY FOR INFORMATION TO ENGINEERS & VALUERS COMMUNITY
WHAT IS SHORING IN CONSTRUCTION | TYPE OF SHORING Shoring in construction refers to the temporary support structures used to prevent collapse or instability of a building, structure, excavation, or trench during construction or repair. It is an essential part of construction safety measures and is used to provide support for a structure that may […]
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CENTRAL BANK AND ITS FUNCTIONS A central bank is a financial institution that is responsible for managing a country’s monetary policy and overseeing its banking system. Its primary objective is to ensure stability in the financial system and promote economic growth by controlling the supply of money and credit in the economy. Central banks are
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GROSS NATIONAL PRODUCT (GNP) Gross National Product (GNP) is a measure of the economic activity of a country, which is calculated by adding up the value of all final goods and services produced by its citizens and businesses, regardless of their location, during a given period of time (usually a year). In other words, GNP
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RIGHT TO INFORMATION ACT 2005 AND ITS ROLE IN DEMOCRATIC GOVERNANCE The Right to Information Act (RTI) is a landmark legislation that was enacted by the Indian government in 2005. The RTI Act empowers citizens to seek information from public authorities, making the government more accountable and transparent. The Act has played a significant
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SOCIAL MEDIA LAWS AND ITS IMPLICATIONS Social media laws are legal guidelines and regulations that govern the use of social media platforms by individuals, businesses, and governments. The implications of social media laws can be significant, affecting freedom of speech, privacy, and the ability to communicate and conduct business online. Social media laws refer to
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MEANING OF QUASI-JUDICIAL AUTHORITY Quasi-judicial authority refers to the power or jurisdiction of an administrative agency or other governmental body to perform activities that are similar to those of a court. These activities may include holding hearings, receiving evidence, and making decisions that affect the legal rights and obligations of individuals or organizations. The decisions
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MEANING OF INDEMNITIES An indemnity is a legal agreement where one party agrees to compensate or reimburse another party for any losses or damages that may occur. The indemnity clause is often included in contracts, insurance policies, and other legal documents to protect one or both parties from financial loss. There are different types of
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BANK GUARANTEES A bank guarantee is a type of financial instrument provided by a bank or other financial institution to guarantee payment to a beneficiary in case of default by the borrower. It is a promise made by the bank to pay a specified amount of money to the beneficiary if the borrower fails to
BANKERS BOOKS EVIDENCE ACT, 1891 The Bankers Books Evidence Act, 1891 is an Indian law that provides a mechanism for admitting bank documents as evidence in legal proceedings. The Act was passed on March 28, 1891, and it applies to all banks in India, including the Reserve Bank of India. Under the Act, a certified
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PAYMENT & SETTLEMENTS SYSTEMS ACT, 2007 The Payment and Settlements Systems Act, 2007 is a law passed by the Indian government to provide a legal framework for the regulation and supervision of payment systems in India. The act aims to ensure the safety and efficiency of payment systems and promote the development of electronic payments.
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DEFINITION AND FEATURES OF A COMPANY A company is a legal entity that is formed to conduct business activities, such as producing and selling goods or providing services, with the aim of making a profit. Companies can be either public or private, and they can be organized in various forms, such as sole proprietorships, partnerships,
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INDIAN CONTRACT ACT, 1872 The Indian Contract Act, 1872 is an act that governs the law relating to contracts in India. It was enacted on 25th April 1872 and came into effect on 1st September 1872. The Act defines and lays down the rules for the formation and performance of contracts in India. The Act
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