Bcom Part 1 Business Law Notes
Bcom Business Law Notes
We are going to share with you the notes for different classes as mention above just for the help of our students, so that they can perform best in exams and in the near future, they can become good citizen of our society and take part in the development of our country. Would you like to read the notes or you can download them into your computer for offline learning. Students should take keen interest in study because they are the future of our country. See Below:-
Read / Download Now
Settlement accounts are opened for all enterprises, regardless of the form of ownership, operating on the principles of commercial settlement and having the status of a legal entity. The owner of the current account has the right to dispose of the funds on the account. It has its own separate balance sheet, acts as an independent payer of all payments due from it to the budget, independently enters into credit relationships with banks. Thus, the current account holder has complete economic and legal independence.
Current accounts are currently opened by organizations and institutions that are not engaged in commercial activities and do not have the status of a legal entity. Traditionally, such accounts are opened for public organizations, institutions and organizations, republican or local budget. The independence of the owner of a current account is significantly limited in comparison with the owner of a current account. The owner of the current account can dispose of the funds on the account strictly in accordance with the estimate approved by the parent organization. The list of operations on current accounts is regulated. This is done at the time of account opening. Economic bodies that have settlement accounts with the bank can perform any operations related to production and investment activities, without establishing any list,