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Object, Scope and. Nature of Indian stamp act 1899 - The Indian Stamp Act, 1899 has been engrafted in the statute-book to

consolidate and amend the law relating to stamps. Its applicability thus stands restricted to the scheme of the Act. It is a true

fiscal statute in nature, is such strict construction is requited to be effected and not liberal interpretation. Undoubtedly, Section

2(15) includes a decree of partition and S. 35 of the Act of 1899 lays down a bar in the matter of un stamped or insufficient stamp

being admitted in evidence or being acted upon - but that does not mean that the prescribed period shall remain suspended until

the stamp paper is furnished and (lie partition decree is drawn thereon and subsequently signed by tile Judge. Such all

interpretation would result in all utter absurdity. The intent of tile legislature in engrafting tile Limitation Act shall have to begiven its proper weight age. Absurdity Cannot be tile Outcome of interpretation by a court order and whoever there is even a

possibility of such absurdity, it would be a plain exercise of judicial power to repel the same. The whole purport of tile Indian

Sunni) Act is to make available certain dues and to Collect revenue but it does not mean and imply overriding the effect over

another statute operating in a completely different sphere.

Explain sale in the sale of goods act, 1930:-Sale of Goods Act is one of very old mercantile law. Sale of Goods is one of the

special types of Contract. Initially, this was part of Indian Contract Act itself in chapter VII (sections 76 to 123). Later these

sections in Contract Act were deleted, and separate Sale of Goods Act was passed in 1930.The Sale of Goods Act is

complimentary to Contract Act. Basic provisions of Contract Act apply to contract of Sale of Goods also. Basic requirements of

contract i.e. offer and acceptance, legally enforceable agreement, mutual consent, parties competent to contract, free consent,

lawful object, consideration etc. apply to contract of Sale of Goods also.

What are characteristics of an offer?

1. An offer is a specific proposal to enter into an agreement with another.2. An offer is vital to the formation of an enforceable contract.

Rescission:-In contract law, rescission has been defined as the unmaking of a contract between parties. Rescission is the

unwinding of a transaction. This is done to bring the parties, as far as possible, back to the position in which they were beforethey entered into a contract (the status quo ante).3. An offer, and the acceptance of the offer, creates the contract.

Rules Regarding Performance of Contingent ContractsThe Happening of a Future Uncertain EventAccording to Sec. 32, "Contingent contracts to do or not to do anything, if an uncertain future event happens,

cannot be enforced by law unless and until that event has happened.

If the event becomes impossible, such contracts become void".

The Non-happening of an Uncertain Future Event

Contingent contracts to do or not to do anything if any uncertain future event does not happen, can be enforced when

the happening of that event becomes impossible and not before.Thus enforceability depends upon the impossibility

of the contingent event. Until the event becomes impossible, the contract cannot be enforcedWhen Event to be Deemed Impossible "If the future event on which a contract is contingent is the way in which a

person will act at an unspecified time, the event shall be considered to become impossible when such person does

anything which renders it impossible that he should so act within any definite time, or otherwise than under further

contingencies".

The Happening of an Event within Fixed Time

"Contingent contracts to do or not to do anything if a specified uncertain event happens within a fixed time become

void if at the expiration of the time fixed, such event has not happened, or if, before the time fixed such event

becomes impossible".

The Non-happening of an Event within a Fixed TimeContingent contracts to do or not to do anything if a specified uncertain event does not happen within a fixed time

may be enforced by law when the time fixed has expired and such event has not happened, or, before the time fixed

has expired, if it becomes certain that such event will not happen"

.RULES REQUARDING PERIMPOSSIBLE EVENTS

Contingent agreements to do or not to do anything if an impossible event happens, are void, whether- the

impossibility of the event is known or not to the parties, to the agreement at the time when it is made".

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Meaning of Contingent Contract: When the performance of a contract is not immediately due but it becomes so only after the

happening or non-happening of some contingency (i.e., some uncertain event) it is known as Contingent Contract. The contract of

insurance, contract of indemnity and guarantee are the examples of contingent contract. In simple words, it is a conditional

contract. A contingent contract is a contract indicating to do or not to do something, if some event, collateral to such contract,

does or does not happen.

Characteristics of Contingent Contract

There are three essential characteristics of a contingent contract, viz. *Its performance depends upon the uncertainty of

happening or non-happening in future of some event. It is this dependence on a future which distinguishes a contingent contract

from other contracts.*The event must be collateral, i.e., incidental to the contract.*The contingent event should not be mere

will of the promisor.

Five Emerging Tech Trends in Transportation & Logistics

Transportation and Logistics companies have bore the brunt of the 2009 economic recession. Slowly as these

companies emerge out of the recession and the near 24 months of excess capacity & depressed freight rates, there is

an increased focus on investing in technology that improves operational efficiencies and achieves cost reduction.

The emerging technology trends are a testimony to this.

1) Business Transformation Initiatives - The Bespoke way for core operational processes. One product fits-all

scenario does not exist, and given the fitment issues with some end-to-end TMS packages, the industry majors have

embarked on initiatives with bespoke model being the one for core processes such as pricing, asset operations,

tactical planning and routing.

. 2) Renewed focus on Optimization tools for Routes & Network and Assets. The need for predictability in a

network driven by short-term forecasting and constrained by network reliability and capacity issues is emerging as akey focus area of logistics service providers. Some emerging trends in this area include:

- Empty asset optimization and simulation for liner and logistics companies

- Network Optimization and Simulation3) Increased focus on Workflow driven Collaborative Business Process Management. There are multiple

stakeholders in a shipment move - shippers/consignees/carriers/customs agents/customs & regulatory/warehouse

agents/truckers/railroad and there is a very real need to manage the shipment and the visibility related to the same

with a SLA/Performance based measurements for each node and each stakeholder process.

.4) Client and Partner Master Data Management with integration capabilities with Identity Resolution Tools, DataCleansing, Address Validation, Credit Rating and Auto-Hierarchy Assignment services. This is predominantly

driven by:- Increased Focus on BI and customer segmentation.

5) The Early Beginnings of Cloud Computing .Given the huge hype and momentum around cloud computing across

so many industries, logistics companies are beginning to evaluate its potential and capitalize on the benefits it offers.

With regards to whether there is a case for cloud computing, logistics leaders need to take into account the rapidly-

evolving market scenarios driven by trade imbalances, capacity constraints, regulatory compliance, emerging

integrators and new markets. Some target areas include: - CRM, Campaigns and Promotions,Carrier Bookings and Rate Enquiry, Scheduling.

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Features of an integrated CRM system

The right CRM system enables the sales team to be more efficient and sell more, provides sales management with visibilityacross the sales teams efforts, and gives operational management a view of whats happening on the street. In many cases, these

are fragmented processes that may serve one segment more than another, and require multiple data entry. This can be betteraccomplished by a single system that integrates information from sales and operations. With integrated information, sales repsenter data that is used to facilitate increased sales and customer service. Management is able to utilize the same, uniform

information for reporting and oversight without requiring additional data entry. Offering management visibility is simply abyproduct of the sales effort.

1. Effective marketing.:-A key to improving CRM and increasing sales is continually building the sales funnel through effectivemarketing to existing customers and prospects. A proper freight CRM process can target marketing efforts based on attributesthat only freight-specific CRM can deliver: shipment activity, lane segments, trade profiles, etc.

3. Data efficiency:-Sales and marketing is the first contact with the customer or prospect. Prospects turn into quotingopportunities, shipments and revenue. If this customer record is entered into a CRM tool, then into a separate freight system and

finally into a financial system, there is no efficiency from the original point of origin. IT solutions with an integrated CRMprocess enable sales, operations and finance to work from the same records, increasing companywide operating efficiency.

4. Ensure data quality:-Data quality is even more of an issue for companies than efficiency. Changing customer organizationdetails, contacts and procedures is an administrative nightmare with multiple data systems within a company.

5. Improve customer experience :-The sales process begins with your company contact sitting down across the desk from

prospect or customer asking for business and committing to standard operating procedures. Communicating these SOPs tooperations and adhering to them is difficult. An integrated CRM solution extends beyond sales, allowing a customer profile to beestablished that includes operations

6. Create sales management visibility:-Sales and CRM effectiveness are ultimately measured with numbers. Management needsvisibility of sales efforts to evaluate operating performance and strategy. Asking what issues are affecting sales is an important

element in establishing management visibility of the operating process..

8. Transparent data repository:-A properly utilized CRM process offers transparency to the customer relationship within alogistics operation. Ultimately, relationships are between the customer and the logistics company, not individuals. An integratedCRM process allows for a smooth transition in the event of staffing changes or employee turnover.

9. Improve financial visibility:-Your sales department needs a single point of access for client intelligence, quoting visibility andfinancial visibility. A single integrated system will provide this while ensuring security and giving access only to the information

required to complete specific tasks necessary within the supply-chain process.

10. An effective sales process:-. An integrated CRM system seamlessly benefits sales management and operations on the backend without redundant entry by sales. It enables sales to manage customers, develop call cycles and become more efficient as acompany.

Explain the three phases of CRM are:1. Customer Acquisition This is the process of attracting our customer for their first purchase. We have acquired ourcustomer. Growth Through market orientation, innovative IT and value creation we aim to increase the number of customers

that purchase from us for the first time.2. Customer Retention - Our customer returns to us and buys for a second time. We keep them as a customer. This is most

likely to be the purchase of a similar product or service, or the next level of product or service. Growth - Through marketorientation, innovative IT and value creation we aim to increase the number of customers that purchase from us for the

first time.

3. Customer Extension Our customers are regularly returning to purchase from us. We introduce products and services to our

loyal customers that may not wholly relate to their original purchase. These are additional, supplementary purchases. Of courseonce our loyal customers have purchases those, our goal is to retain them as customers for theExtended products or services. Growth Through market orientation, innovative 11 and value creation we aim to increase thenumber of customer that purchase additional supplementary products and services.

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The SIX Es OF E-CRM

1.Electronic channels: New electronic channels such as the web and personalized e-messaging have become the

medium for fast, interactive and economic communication, challenging companies to keep pace with this increased

velocity. E-CRM thrives on these electronic channels.

2.Enterprise: Through E-CRM a company gains the means to touch and a shape a customers experience throughsales, services and corner offices whose occupants need to understand and assess customer behavior.

3.Empowerment: E-CRM strategies must be structured to accommodate consumers who now have the power todecide when and how to communicate with the company. Through, which channel, at what frequency? An E-CRM

solution must be structured to deliver timely pertinent, valuable information that a customer accepts in exchange of

his/her attention.

4.Economics: An E-CRM strategy ideally should concentrate on customer economics, which drive smart asset-

allocation decisions, directing efforts at individuals likely to provide the greatest return on customer communication

initiatives.5. Evaluation: Understanding customer economics relies on a companys ability to attribute customer behavior to

market programs, evaluate customer interactions along various customer touch point channel, and compare

anticipated ROI against actual returns through customer analytic reporting.6.External information : The E-CRM solution should be able to gain leverage information from such sources as

third party information networks and web page profiler application.

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