The term “commercial,” for the purposes of this policy, refers to goods, services, or activities provided by private sector enterprises that bear a reasonable portion of the investment risk and responsibility for the activity, operate in accordance with typical market-based incentives for controlling cost and optimizing return on investment, and have the legal capacity to offer those goods or services to existing or potential non-governmental customers.

Promotion and Facilitation of Trade and Commerce of Farmers’ Produce “Farmers’ produce” means- (i) foodstuffs including cereals like wheat, rice or other coarse grains, pulses, edible oilseeds, oils, vegetables, fruits, nuts, spices, sugarcane and products of poultry, piggery, goatery, fishery and dairy intended for human consumption in its natural or processed form; (ii) cattle fodder including oilcakes and other concentrates; […]

Department of Commerce The Department of Commerce was originally created as the US Department of Commerce and Labor on February 14, 1903. It was subsequently renamed the Department of Commerce on March 4, 1913, as the bureaus and agencies specializing in labor were transferred to the new Department of Labor. The period between the Declaration of Independence in 1776 and […]

a great deal has been made of the industrial development of Germany, and although her imports exceed her exports, those who weigh the balance of commerce are never tired of admiring the increase at each end of the scale; they even go as far as to compare the trade of Germany in 1870 with that of 1904, although since the German Empire only came into existence in 1871 any calculations up to 1880 are quite worthless.

A distinction was drawn by the majority of learned Judges between negation or deprivation of a right and a restriction upon it and although it was said that restriction may reach a point where it might amount to deprivation, yet restrictions would normally pre-suppose the continued existence—no matter even in a very thin and attenuated form

COMMISSIONER OF INCOME TAX, BOMBAY CITY-III Vs. SHANTILAL P. LTD. – A contract can be said to be settled if instead of effecting the delivery or transfer of the commodity envisaged by the contract the promisee, in terms of Section 63 of the Contract Act, accepts instead of it any satisfaction which he thinks fit. It is quite another matter where instead of such acceptance the parties raise a dispute and no agreement can be reached for a discharge of the contract. There is a breach of the contract and by virtue of Section 73 of the Contract Act the party suffering by such breach becomes entitled to receive from the party who broke the contract compensation for any loss or damage caused to him thereby. There is no reason why the sense conveyed by the law relating to contracts should not be imported into the definition of “speculative transaction.” The award of damages for breach of a contract is not the same thing as a party to the contract accepting satisfaction of the contract otherwise than in accordance with the original terms thereof. It may be that in a general sense (he layman would understand that the contract must be regarded as settled when damages are paid by way of compensation for its breach. What is really settled by the award of such damages and their acceptance by the aggrieved party is the dispute between the parties. The law, however, speaks of a settlement of the contract, and a contract is settled when it is either performed or the promisee dispenses with or remits, wholly or in part, the performance of the promise made to him or accepts instead of it any satisfaction which he thinks fit.

Recent Updates