WHAT IS THE LATIN PHRASE FOR THE EXPRESSION " IGNORANCE OF LAW IS OF NO EXCUSE"
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Replies (6)
Dear Sir Sai Krishna,
Ignorantia juris non excusat
or
Ignorantia legis neminem excusat
| Originally posted by :Juzer | ||
| " | Dear Sir Sai Krishna, Ignorantia juris non excusat or Ignorantia legis neminem excusat |
" |
thank q
WHAT DO WE HAVE TO MENTION IN RENT COLUMN IN FORM 23ACA OF ROC. IS IT RENT PAID OR RENT RECEIVED
Dear Bhawna,
You have to mention amount of rent paid in form 23ACA.
Regards
Distinguish between Wagering Contract & Speculation contract
Dear Sudeep,
I hope this will be useful to you.
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Wager
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Speculation
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A wager is a bet; a contract by which two parties or more agree that a certain sum of money, or other thing, shall be paid or delivered to one of them, on the happening or not happening of an uncertain event.
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Speculative transaction” means a transaction in which a contract for the purchase or sale of any commodity, including stocks and shares, is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scriptts
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It is void ab initio
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It is valid contract; also government (in Income Tax Law) is making certain speculative contract as normal business contract for securing loss of business entities and to regulate/promote security market.
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It is sort of Illegal Contract in India
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This is legal and valid contract for all purpose
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The future element is for happening of certain event.
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The future is depends upon acts of parties to transact.
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The parties cannot be sued third person or each other
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The parties can take legal action on non-performance of contract and have all the feature/remedies valid contracts
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Regards
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