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The landmark case Toshniwal Brothers (Pvt.) Ltd. vs Eswarprasad, E. and Others, decided in 1996, describes the legality of employment bonds in India.It holds that under the Indian Contract Act, 1872, contracts requiring an employee to pay a bond if they prematurely resign their employment are legal and enforceable, at least in cases where employers pay expenses like training for the employee. [2]
Usually, a surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation.
This master agreement can be used to mediate employer-employee conflict in the workplace by having a reference point to work out solutions and set specific terms. Contracts are often negotiated as a unified master service agreement and statement of work , such as with information technology service providers .
What are bonds? Bonds are a contract between an investor and whoever is issuing the bond — be it a company or government — where the issuer agrees to pay the investor a specified amount over a ...
Bond funds offer diversification, as they invest in multiple bonds, reducing the risk associated with any single bond defaulting. Bond funds also offer a wide range of options for investors.
In Langen and Wing v Bell [1972] Ch 685, a director's service agreement required him to assign his shares in the company if he was terminated, and he was to receive a price calculated at a later date when the annual accounts were available; he was held to have an equitable lien over the transferred shares to secure the payment of the eventual ...
Treasury Bills vs. Savings Bonds. Treasury Bills vs. Bonds. Another common type of bond is the U.S. savings bond. Like T-bills and T-bonds, savings bonds are issued by the Treasury Department to ...
Companies also reserve the right to call their bonds, which mean they can call it sooner than the maturity date. Often there is a clause in the contract that allows this; for example, if a bond issuer wishes to rebook a 30-year bond at the 25th year, they must pay a premium. If a bond is called, it means that less interest is paid out.
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