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NCFM Training in Hyderabad : Capital Market - Indian Contract Act
In the securities markets, the SCRA governs the contracts for or relating to the purchase or sale of securities. However, the provisions of the Indian Contract Act, 1872 also have a bearing on these securitiesí contracts as this is a general Act which governs the rights of parties in a contract and the effects thereof.
Following are some important terms/definitions used in the Indian Contract Act:
1. Contract: According to section 2(h) of the Indian Contract Act, 1872, a contract is an agreement enforceable by law. Therefore, there has to be an agreement to create a contract, with their free consent, for a lawful object and with lawful consideration, and it should not have been expressly declared as void agreement.
2. Standard Form Contracts: With an enormous increase in commercial transactions, the concept of Standard Form Contracts has come into existence. Various business organisations like insurance companies, airways, securities market regulator, other businessman etc. generally get the terms of the contract printed on a standard form and the other side is simply required to agree to the same, or sometimes to sign in token of his having agreed to the terms of the contract so drafted.
3. Agency Contract: An agent is a person employed to do any act for another or to represent another in dealings with third persons, as per section 182 of the Indian Contract Act, 1872. An agent has a dual capacity: one, he serves as a connecting link between his principal and the third person, and second, he can have a contractual relationship with his principal.
4. Sub-agent: A sub-agent is a person employed by, and acting under the control of, the original agent in the business of the agency.
The main objective of our Academy, Best Stock Market Training Institute in Hyderabad for Real Examples, is not only to provide employment opportunities but also to convert individuals into entrepreneurs. In the next 10 years, Indian financial market has the potential to create 10 lakh employment opportunities.The main objective of our Academy, Best Stock Market Training Institute in Hyderabad for Real Examples, is not only to provide employment opportunities but also to convert individuals into entrepreneurs. In the next 10 years, Indian financial market has the potential to create 10 lakh employment opportunities.
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Sources : NSEIL-NCFM