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Posted by Rohan Sharma 5 years, 10 months ago
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Yogita Ingle 5 years, 10 months ago
Insurance is necessity rather than a choice for a business because life is full of uncertainties. Both life and property are exposed to risk or accidents. Death or serious injury causes by train or air accident or shipwreck, loss of goods and property in transit are common uncertainties. Everyone is exposed to one type of risk or the other. But is it impossible to say in advance as to one whose shoulder the heavy burden of such a loss is going to fall. It means that no one can be certain of smooth sailing in private life or business. Insurance does not end all these uncertainties but it minimizes the impact of such uncertainties so that there is a need of insurance.
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Perpetual Succession Company is a legal entity separate of its owners or members. It can be brought to an end only by law as it is created by the law. It will only cease to exist when a specific procedure for its closure, called winding up, is completed. Members may come and go, but the company continues to exist through consecutive succession of old members by new members on a continuous basis. We can say that ‘perpetual succession’ implies permanent existence which is not affected by death, retirement insolvency of members.
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Yogita Ingle 5 years, 11 months ago
It is also referred to as packing credit. It is working capital finance provided by Commercial banks to the exporter prior to the shipment of goods. It provides the exporters with working capital between the time of the receipt of order and the time of shipment to arrange for production or procurement of goods.
Posted by Sharim Khan 5 years, 11 months ago
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Maheshwari Mansi 5 years, 10 months ago
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