Powers of Manager
The powers of a Manager are more extensive than those of a Karta. The manager of a joint Hindu Family has all the powers required for the purposes of carrying on the family business. He can contract debts for the purpose of the business, and pledge the credit and property of the family for the purpose of its ordinary business, but not for any speculative transactions. His actions must not be tainted with immorality. He can bind the members of the family including minors by means of Negotiable Instruments, executed in the name of the family firm. He can also compromise a dispute but he cannot embark on a new venture.
Read more about this topic: Hindu Undivided Family
Famous quotes containing the words powers of, powers and/or manager:
“When, in the course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume the powers of the earth, the separate and equal station to which the laws of nature and of nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.”
—Thomas Jefferson (1743–1826)
“The powers that be are ordained of God.”
—Bible: New Testament St. Paul, in Romans, 13:1.
“Nothing could his enemies do but it rebounded to his infinite advantage,—that is, to the advantage of his cause.... No theatrical manager could have arranged things so wisely to give effect to his behavior and words. And who, think you, was the manager? Who placed the slave-woman and her child, whom he stooped to kiss for a symbol, between his prison and the gallows?”
—Henry David Thoreau (1817–1862)