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LEXIS AND COMPANY | +91-9051112233

 LEXIS AND COMPANY | +91-9051112233

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What’s the Difference Between a Partnership Firm and LLP in India?

  What’s the Difference Between a Partnership Firm and LLP in India?" 🤝📊📄 #PartnershipVsLLP #LLPRegistrationIndia #BusinessStructureIndia #StartupLegalAdvice #LegalEntityIndia #PartnershipFirmLaw #LLPAdvantages #IndianBusinessLaw #LexisAndCompany #CompanyFormationIndia 💬 Most asked business question: “Sir, should we register as a traditional Partnership Firm or go for an LLP? Which one’s better?” 🤷‍♂️💼 📢 Answer: LLP wins the legal game—most of the time! 😉🏆 A Partnership Firm is governed by the Indian Partnership Act, 1932 , while an LLP (Limited Liability Partnership) is governed by the LLP Act, 2008 —with key legal and financial differences. #PartnershipAct1932 #LLPAct2008 #BusinessEntityIndia #StartupStructureIndia 📌 Major Differences at a Glance: 🔸 Liability: – Partnership = Unlimited liability 😨 – LLP = Limited to your share 🛡️ 🔸 Legal Identity: – Partnership = No separate legal identity – LLP = Separate legal entity 🧑‍⚖️ 🔸 Compliance: – Par...
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Can a Verbal Agreement Be Legally Enforced in India?

  Can a Verbal Agreement Be Legally Enforced in India?" 🗣️🤝📜 #VerbalAgreementIndia #OralContractLaw #ContractLawIndia #IndianContractAct #LegalValidityIndia #BusinessAgreement #EnforceableContract #LexisAndCompany #StartupLegalTips #LegalAwarenessIndia 💬 A popular client dilemma: “Sir, we only agreed verbally… There’s no written document. Is it still legally valid?” 😬🗣️ 📢 Answer: Yes… but it’s a risky game! ⚠️📢 Under the Indian Contract Act, 1872 , verbal agreements are legally valid and enforceable , provided they meet all essentials of a contract . #IndianContractAct1872 #OralContractsExplained #LegalEssentialsIndia #ValidContractIndia 📌 Essentials of a Valid Verbal Contract: ✔️ Offer and Acceptance ✔️ Lawful Consideration ✔️ Free Consent ✔️ Capacity of Parties ✔️ Lawful Object ✔️ No express requirement of writing (unless mandated by law) #EssentialsOfContract #ValidAgreementIndia #BusinessDealIndia #ContractualObligations 💡 But here’s the catch: 👉 ...
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Can I Recover My Money If Someone Gave Me a Cheque That Bounced?

  Can I Recover My Money If Someone Gave Me a Cheque That Bounced?" 🧾💥🚫 A classic Indian business saga: “I was paid through a cheque, but it bounced! Can I legally recover my money?” 😩💸🔙 Answer: YES, and the law is on your side with a full power punch! 👊⚖️ Say hello to the mighty Section 138 of the Negotiable Instruments Act, 1881 — your legal weapon against cheque defaulters! 🧑‍⚖️🔨 ✅ When Can You File a Case? ✔ Cheque was issued for a legal debt or liability ✔ Cheque bounced due to “insufficient funds” or “account closed” ✔ You served a legal notice to the drawer within 30 days ✔ They failed to pay within 15 days after receiving the notice 💼 Next Step? 👉 File a criminal complaint under Section 138 N.I. Act in Magistrate Court within 30 days from expiry of notice period. ✅ Documents You’ll Need: ✔ Original bounced cheque ✔ Bank return memo 🏦 ✔ Copy of legal notice sent 📬 ✔ Postal receipt/courier tracking ✔ Proof of debt or transaction ✅ Benefits...
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