MY LEGAL ARTICLES

The Force Majeure clause and its impact on contracts – Adv. Suyog  Shah     COVID-19: The Force Majeure clause and its impact on contracts The global COVID-19 outbreak has disrupted all industries and has put a significant population of the world under lockdown. This prevents the efficient working of businesses and has impacted existing operations and contracts. On the issue of contracts, this outbreak has brought many new aspects to the fore, one of which includes the Force Majeure clause that impacts formal contracts. Given the disruption of supply chains caused by the COVID-19 pandemic, many contracts will be delayed, interrupted, or even cancelled.   What is Force Majeure? As per the Manual for Procurement of Goods 2017, a Force Majeure means extraordinary events or circumstances beyond human control such as an event described as an act of God (like a natural calamity) or events such as a war, strikes, riots, crimes (but not including ne...

HOW TO DISSOLVE A PARTNERSHIP FIRM  – Adv.Suyog Chandulal Shah Dissolving a partnership firm means discontinuing the business under the name of said partnership firm. In this case, all liabilities are finally settled by selling off assets or transferring them to a particular partner, settling all accounts existed with the partnership firm. Any profit/ loss is transferred to partners in their profit sharing ratio as agreed by them in the partnership deed. Dissolving a partnership firm is different from dissolving a partnership. In the former case, the firm ends its name and hence cannot do business in the future. But in case of dissolving a partnership, the existing partnership is dissolved– by consent or on happening of a certain event, but the firm can retain its existence if remaining partners enter into a new partnership agreement. There are different ways in which a partnership firm may get dissolved- ·          When part...