Samacheer Kalvi 12th Commerce Notes Chapter 22 The Negotiable Instruments Act, 1881

Tamilnadu Samacheer Kalvi 12th Commerce Notes Chapter 22 The Negotiable Instruments Act, 1881 Notes

→ A negotiable instrument is a document which entitles a person to a certain sum of money and which is transferable from one person to another by mere delivery or by endorsement.

→ According to Section 13 of the Negotiable Instruments Act 1881, “a negotiable instrument means a promissory note, a bill of exchange or cheque payable either to order or to bearer”.

→ Negotiability refers to the transferability of all the rights and titles on an instrument by delivery or by endorsement and delivery.

→ Assignability refers to the transferability of personal properties and rights from one person to .another as gift or sale or security.

→ According to Section 5 of the Negotiable Instruments Act, “a bill of exchange is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of a certain person or to the bearer of the instrument”.

→ According to Section 6 of the Negotiable Instruments Act, 1881 defines a cheque as “a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand”.

→ According to Section 4 of the Negotiable Instruments Act 1881, “a promissory note is an instrument in writing containing an unconditional undertaking signed by the maker, to pay a certain sum of money only to or to the order of, a certain person or to the bearer of the instrument.

→ Crossing a cheque refers to the practice of drawing two parallel transverse lines across the face of a cheque with or without the words‘and Co’.

→ Crossing may be General crossing and Special crossing.

→ Special crossing may be of not negotiable crossing and Account payee crossing.

→ When the person signs on the back of the instrument with a view to transfer is known as endorsement.

→ Endorsement may be Endorsement in blank, Endorsement in full, conditional endorsement, restrictive endorsement, Sans recourse endorsement, Facultative endorsement and Partial endorsement.

Samacheer Kalvi 12th Commerce Notes

Samacheer Kalvi 12th Commerce Notes Chapter 21 The Sale of Goods Act, 1930

Tamilnadu Samacheer Kalvi 12th Commerce Notes Chapter 21 The Sale of Goods Act, 1930 Notes

→ Sale of Goods is one of the most important Acts coming under special contract. This Act was passed in the year 1930.

→ Contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property (ownership) of the goods to the buyer for a price.

→ Mere possession of the goods does not entitle a person to ownership.

→ Buyer has unlimited rights of the property purchased against the whole world.

→ Essential Elements of a Contract of Sale: (1) Two Parties (2) Transfer of Property (3) Goods (4) Price (5) Includes both‘Sale’and‘Agreement to Sell’.

→ The term goods mean every kind of movable property other than actionable claim and money.

→ *Goods may be divided into existing goods, future goods and contingent goods.

→ Existing goods are those owned or possessed by the seller at the time of contract of sale.

→ Existing goods may again be divided into specific goods, ascertained goods and generic or unascertained goods.

→ Specific goods denote goods identified and agreed upon at the time of contract of sale.

→ The term ‘ascertained goods’ is also used as similar in meaning to specific goods. But this term may even refer to goods which become ascertained subsequent to the formation of the contract.

→ Unascertained or generic goods are those which are not identified and agreed upon at the time of contract of sale.

→ Future goods are those which a seller does not possess at the time of contract of sale but which will be manufactured or produced or acquired by him after entering into the contract of sale agreement.

→ Contingent goods are the goods, the acquisition of which by the seller depends upon a contingency (an event which may or may not happen). Contingent goods are a part of future goods.

→ A stipulation in a contract of sale with reference to goods may be a condition or a warranty.

→ Warranty represents a stipulation which is collateral to the main purpose of the contract.

→ In every contract of sale, there are certain expressed and implied conditions and warranties.

→ In the case of sale, seller has a right to sell the goods.

→ In a contract of sale by description, there is an implied condition that goods supplied should agree with the descriptions made by the seller.

→ Where goods are sold by showing samples by the seller e.g. foodgrains, cloth, medicine, chemicals etc., the bulk of goods supplied by the seller should be similar to the sample shown by the seller.

→ If goods are bought by description and the seller is a dealer in goods of that description, the implied condition is that goods must be of merchantable quality.

→ In the case of eatables, the goods must be wholesome besides being merchantable.

→ An implied condition as to quality or fitness for a particular purpose can also be fixed by the usage of trade.

→ There is an implied warranty that the buyer shall have and enjoy quiet possession of the goods.

→ The goods bought must not have been subject to any charge or right in favour of a third party.

→ Where the seller knows that the goods he is selling are dangerous or likely to be dangerous to the buyer and the buyer is ignorant of the danger, the seller should warn the buyer of the probable danger, otherwise he will be liable to compensate the buyer in case of any injury.

→ A seller is deemed to be an unpaid seller (a) when the whole of the price has not been paid or (b) a bill of exchange or other negotiable instrument given to him has been dishonoured.

→ Rights of an unpaid seller against the goods: (a) Right of Lien (b) Right of Stoppage in Transit (c) Right of Resale

→ Rights of an unpaid seller if the goods does not pass to the buyer: (i) Suit for price (ii) Suit for Damages (iii) Suit for Cancellation of the Contract (iv) Suit for Interest

Samacheer Kalvi 12th Commerce Notes

Samacheer Kalvi 12th Commerce Notes Chapter 20 Liberalization, Privatization and Globalization

Tamilnadu Samacheer Kalvi 12th Commerce Notes Chapter 20 Liberalization, Privatization and Globalization Notes

→ India agreed to the conditions of World Bank and IMF and announced New Economic Policy (NEP) which consists of wide range of economic reforms. This new set of economic reforms is commonly known as the LPG or Liberalisation, Privatisation and Globalisation.

→ There are three dimensions of New Economic Policy. They are explained below: Liberalization Privatization, Globalization.

→ Liberalization refers to laws or rules being liberalized, or relaxed, by a government.

→ The government of India has adopted several measures of liberalization. They are:
(i) Liberalization for industrial licensing
(ii) Freedom for expansion and production to industries
(iii) Increase in the investment limit of the small industries
(iv) Foreign Exchange reforms
(v) Liberalization of export and import transactions

→ Privatization is the incidence or process of transferring ownership of a business enterprise, agency or public service from the government to the private sector.

→ Forms of Privatization:
(i) Contraction (minimisation) of public sectors
(ii) Sales of shares of public sectors to the private sector
(iii) Memorandum of Understanding
(iv) Disinvestment in PSUs

→ Globalisation means the interaction and integration of the domestic economy with the rest of the world with regard to foreign investment, trade, production and financial matters.

→ Forms of Globalization: (i) Foreign trade policy (ii) Export promotion (iii) Freedom to repatriate (iv) Reduction in tariffs (v) Encouraging open competition:

→ Highlights of the LPG [Liberalisation, Privatisation and Globalisation Policy]:
(i) Introduction of new Foreign Trade Agreements
(ii) Foreign Investment (FDI and FII)
(iii) MRTP Act, 1969 (Amended)
(iv) Deregulation
(v) Opportunities for overseas trade
(vi) Steps to regulate inflation
(v/i) Tax reforms
(viii) Abolition of License

Samacheer Kalvi 12th Commerce Notes

Samacheer Kalvi 11th Chemistry Notes Chapter 1 Basic Concepts of Chemistry and Chemical Calculations

Tamilnadu Samacheer Kalvi 11th Chemistry Notes Chapter 1 Basic Concepts of Chemistry and Chemical Calculations Notes

Chemistry – Chemistry is the science which deals with all kinds of matter occurring on this Earth and in the outside universe.

Importance of Chemistry – Chemistry is the centre of life. It finds numerous applications in everyday life and it is indispensible for modem civilization.

Matter – It is anything which has mass and occupies space.

Physical classification of matter – They are solids, liquids and gases.

Chemical classification of matter – (i) Pure substances such as elements and compounds (ii) mixture such as homogenous and heterogeneous (iii) Inorganic compounds and organic compounds.

Plasma state – Gaseous state of matter at very high temperature containing gaseous ions and free electron is referred to as the Plasma state.

Atom – An atom is the ultimate smallest electrically neutral, being made up of fundamental
particles such as proton, neutron and electron.

Element – An element consists of only one type of atoms.

Classifications of elements – metals, non-metals and metalloids.

Molecule – It is the smallest particle made up of one or more than one atom in a definite ratio having stable and independent existence.

Classification of molecule – (i) monoatomic molecule (Sodium and Copper) (ii) diatomic (H2 and Cl2) and (iii) polyatomic (O3, P4 and S8).

Compound – A molecule which contains two or more atoms of different elements are called a compound molecule, e.g. H20 (Water) and C02 (Carbon dioxide).

Atomic mass – It is the mass of an atom of an element expressed as a number relative to the mass of one atom of hydrogen or oxygen or carbon.

amu – One atomic mass unit is equal to l/12th of the mass of an atom of C-12 isotope.

1amu= 1.66056 x 10-24 gram.

Molecular mass – Molecular mass of a substance represents the number of times the molecule of that substance is heavier than 1/12th of the mass of an atom of C-12 isotope.
Molecular mass = 2 x Vapour density

Formula mass – The sum of the atomic masses of all the atoms in a formula unit of a substance is called formula mass.

Mole Concept – The mole is defined as the amount of a substance which contains 6.023 x 1023 particles such as atoms, molecules or ions. Mole is represented by the letter “n”. Avogadro’s hypothesis – ‘Equal volume of all gases under the same conditions of temperature and pressure contain the same number of molecules’.

Avogadro number (N) – It is the number of atoms present in one mole of an element or number of molecules present in one mole of a compound. The value of Avogadro number (N) = 6.023 x 1023.

Molar mass – The mass of one mole of any substance in gram is called molar mass.

Molar volume – : It is the volume occupied by one mole of a substance in the gaseous state at STP. It is equal to 2.24 x 10-2m3 (22.4 L).

Equivalent mass – The equivalent mass of an element is defined as the number of parts of the acid which contains one 1.008 part by mass of replaceable hydron atom
Equivalent mass = \(\frac{\text { Molar mass of the acid }}{\text { Basicity }}\)

Equivalent mass – The equivalent mass of an element is defined as the number of parts of the mass of an element which combines with or displaces 1.008 parts of hydrogen or 8 parts of oxygen or 35.5 parts of chlorine.
\(\frac{\text { Atomic mass }}{\text { Valency }}\)

Equivalent mass of acid – It is defined as the number of parts by mass of the acid which contains 1.008 part by mass of replaceable hydrogen atom.

Equivalent mass of an acid = \(\frac{\text { Molar mass of the acid }}{\text { Basicity }}\)

Basicity – It is the number of replaceable hydrogen atoms present in a molecule of the acid.

Equivalent mass of a base – It is defined as the number of parts by mass of the base which contains one replaceable hydroxyl ion.
Equivalent mass ot a base = \(\)\frac{\text { Molar mass of the base }}{\text { Acidity }}\(\)

Acidity – It is the number of hydroxyl ions present in one mole of a base.

Equivalent mass of a salt – It is defined as the number of parts by mass of the salt that is produced by the neutralization of one equivalent of an acid by a base.
Equivalent mass of the salt = Molar mass of the salt

Equivalent mass of an oxidizing agent – It is defined as the number of parts by mass which can furnish 8 parts by mass of oxygen for oxidation.

Equivalent mass of a reducing agent – It is defined as the number of parts by mass of the reducing agent which is completely oxidised by 8 parts by mass of oxygen.

Empirical formula – It shows the ratio of number of atoms of different elements in one molecule of the compound.

Molecular formula – It shows the actual number of different types of atoms present in one molecule of the compound. Molecular formula = (Empirical formula)n

Stoichiometry equation – It is a short scientific representation of a chemical reaction.

Limiting reagents – The reactant used up first in a reaction is called the limiting reagent.

Oxidation reaction – It is a process of adding of oxygen or removal of hydrogen.

Reduction reaction – It is a process of removal of oxygen or addition of hydrogen.

Electronic concept of oxidation and reduction – The reaction that involves loss of electrons is called an oxidation reaction and reaction that involves gain of electrons is called a reduction reaction.

OIL – Oxidation Is Loss of electrons.

RIG – Reduction Is Gain of electrons.

Oxidation number – It refers to the number of charges an atom would have in a molecule or an ionic compound if electrons were transferred completely.

Types of redox reactions – (i) Combination reactions (ii) Decomposition reactions (iii) Displacement reactions (iv) Disproportionation reactions (v) Competitive Electron transfer reactions.

Combination reactions – When two or more substances combine to form a single substance, the reactions are called combination reactions.
A + B → C

Decomposition reactions – The reaction in which a compound splits up into two or more simpler substances are called decomposition reaction.
AB → A + B

Displacement reactions – The reactions in which one ion or atom in a compound is replaced by an ion or atom of the other element are called displacement reactions.
AB + C → AC + B

Disproportionation reactions – The reactions in which an element undergoes simultaneously both oxidation and reduction are called as disproportionation reactions.

Competitive electron transfer reactions – These are the reactions in which redox reactions take place in different vessels and it is an indirect redox reaction. In this reaction, there is a competition for the release of electrons among different metals take place.

Methods of balancing of redox reactions – (i) Oxidation number method (ii) Ion-electron method.

Samacheer Kalvi 11th Chemistry Notes

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Samacheer Kalvi 12th Chemistry Notes Chapter 2 p-Block Elements-I

Tamilnadu Samacheer Kalvi 12th Chemistry Notes Chapter 2 p-Block Elements-I Notes

p-Block elements have a general electronic configuration of ns2, np1-6

Catenation:
Carbon(atom) has a greater tendency to join a chain of bonds with itself or with other atoms which is known as catenation.

Inert pair effect:
The outer s electrons(ns) have a tendency to remain inert and show reluctance to take part in the bonding, which is known as inert pair effect.

Allotropism:
Some elements exist in more than one crystalline or molecular forms in the same physical state. This phenomenon is called allotropism.

Uses of boron:

  • Boron isotope – 10B5 is used as moderator in nuclear reactions.
  • Amorphous boron is used as a rocked fuel igniter.
  • Boron is essential for the cell walls of plants.

Uses of boric acid:

  • To manufacture of pottery glazes, glass, enamels and pigments.
  • It is used as an antiseptic and as an eye lotion.
  • It is also as a food preservative.

Uses of borax:

  • Borax is used for the identification of coloured metal ions.
  • In the manufacture optical and borosilicate glass, enamels and glazes for pottery.
  • It is also used as a good preservative.

Hydroboration: Diborane adds on to alkenes and alkynes in ether solvent at room temperature. This reaction is called hydroboration.

Uses of diborane:

  • It is used as a high energy fuel for propellant.
  • It is used as a reducing agent in organic chemistry.
  • It is used in welding torches.

Uses of boron trifluoride:

  • BF3 is used for preparing HBF4, a catalyst in organic chemistry.
  • It is also used a fluorinating reagent.

McAfee process:
Aluminium chloride is obtained by heating a mixture of alumina and coke in a current of chlorine.

Uses of aluminium chloride:

  • Anhydrous AlCl3 is used as a catalyst in friedel crafts reactions.
  • It is used for the manufacture of petrol by cracking the mineral oils.
  • It is used as a catalyst in the manufacture on dyes, drugs and perfumes.

Uses of Alum:

  • It is used for purification of water.
  • It is used for water proofing and textiles.
  • It is employed as a styptic agent to arrest bleeding.

Fischer Tropsch synthesis:
The reaction of carbon monoxide with hydrogen at a pressure of less than 50 atm using metal catalysts at 500 – 700 K yields saturated and unsaturated hydrocarbons.

Uses of carbon monoxide:

  • Equimolar mixture of hydrogen and carbon monoxide – water gas and the mixture of carbon monoxide and nitrogen – producer gas are important industrial fuels
  • Carbon monoxide is a good reducing agent and can reduce many metal oxides to metals.
  • Carbon monoxide is an important ligand and forms carbonyl compound with transition metals

Water gas equilibrium:
The equilibrium involved in the reaction between carbon dioxide and hydrogen, has many industrial application and is called water gas equilibrium.

Uses of carbon dioxide:

  • Carbon dioxide is used to produce an inert atmosphere for chemical processing.
  • Biologically, it is important for photosynthesis.
  • It is also used as fire extinguisher and as a propellent gas.
  • It is used in the production of carbonated beverages and in the production of foam.

Uses of Silicon tetrachloride:

  • Silicon tetrachloride is used in the production of semiconducting silicon.
  • It is used as a starting material in the synthesis of silica gel, silicic esters, a binder for ceramic materials.

Uses of Silicones:

  • Silicones are used for low temperature lubrication and in vacuum pumps, high temperature oil baths etc…
  • They are used for making water proofing clothes
  • They are used as insulting material in electrical motor and other appliances
  • They are mixed with paints and enamels to make them resistant towards high temperature, sunlight, dampness and chemicals.

Silicates:
The mineral which contains silicon and oxygen in tetrahedral [SiOJ4~ units linked . together in different patterns are called silicates.

Types of Silicates:
(i) Ortho silicates (ii) Pyro silicates (iii) Cyclic silicates (iv) Ino silicates (v) Phyllo silicates (vi) Tecto silicates.

Zeolites: Zeolites are three dimensional crystalline solids containing Al, Si and Oxygen in their regular three dimensional frame work. They are hydrated sodium alumino silicates.

Some of common allotropes of p-block elements

Element Most common allotropes
Boron Amorphous boron, α-rhombohedral boron, β-rhombohedral boron, γ-orthorhombic boron, α-tetragonal boron, β-tetragonal boron
Carbon Diamond, Graphite, Graphene, Fullerenes, Carbon nanotubes
Silicon Amourphous silicon, crystalline silicon
Germanium α-germanium, β-germanium
Tin Grey tin, white tin, rhombic tin, sigma tin
Phosphorous White phosphorous, Red phosphorous, Scarlet phosphorous, Violet phosphorous, Black phosphorous.
Arsenic Yellow arsenic, gray arsenic & Black arsenic
Antimony Blue-white antimony, Yellow, Black
Oxygen Dioxygen, ozone
Sulphur Rhombus sulphur, monoclinic sulphur
Selenium Red selenium, Gray selenium, Black selenium, Monoclinic selenium,
Tellurium Amourphous & Crystalline

Samacheer Kalvi 12th Chemistry Notes

Samacheer Kalvi 11th Commerce Notes Chapter 30 Performance of Contract

Tamilnadu Samacheer Kalvi 11th Commerce Notes Chapter 30 Performance of Contract Notes

→ When the party has done what he had undertaken to do, it is called actual performance.

→ When the party offers to perform his obligation, it is not accepted by the promisee. So, it is also called offer to performance or tender.

→ According to Para 2 of Section 40, the promisor may employ a competent person such as agent to perform the promise, if the contract is not formed on personal condition.

→ A contract which involves the use of personal skill or it is found on personal considerations, comes to an end if the promisor dies.

→ According to Section 41, if a promisee accepts the performance of the promise by a third person he cannot afterwards enforce it against the promisor.

→ Various legal provisions are laid down under Section 46 to 50 regarding the time, place and manner of performance of a contract.

→ Under Section 48, performance on a certain day: If the promise is to be performed on a certain day the promisor may undertake to perform it after the application by the promisee to that effect.

→ Promises which form consideration or part of consideration for each other are called ‘reciprocal promise’.

→ Where the two promises are said to be performed simultaneously, they are said to be mutual and concurrent.

→ If section 60’is attracted, the creditor shall have the discretion to apply such payment for any lawful debt which is due to him from the person making the payment.

Samacheer Kalvi 11th Commerce Notes

Samacheer Kalvi 12th Commerce Notes Chapter 6 Money Market

Tamilnadu Samacheer Kalvi 12th Commerce Notes Chapter 6 Money Market Notes

→ Money Market is a market for purely short-term funds.

→ It is the segment of financial markets where in financial instruments having maturities of less than one year are traded.

→ According to Crowther, ’’the money market is the collective name given to the various firms and institutions that deal in the various grades of near money”.

→ The RBI defines the money market as, “a market for short-term financial assets that are close substitutes for money facilitates the exchange of money for new financial claims in the primary market as also for financial claims, already issued, in the secondary market”.

→ A well-developed Money Market serves the following objectives:

1. Providing an equilibrium mechanism for ironing out short-term surplus and deficits.

2. Providing a focal point for Central Bank intervention for influencing liquidity in the company.

3. Providing access in uses to users of short-term money to meet their requirements at a reasonable price.

→ Generally, transactions take place through phone, i.e., oral communication. Relevant documents and written communications can be exchanged subsequently.

→ The components of a money market are the Central Bank, Commercial Banks, Non-Banking Financial Companies, Discount Houses and Acceptance House.

→ The Commercial Banks are the nerve centre of the whole money market. They serve as vital link between the Central Bank and the various segments of the money market.

→ There should be a large demand and supply of short-term funds.

→ The central bank keeps their cash reserves and provides them financial accommodation in difficulties by discounting their eligible securities.

→ A Treasury bill is nothing but a promissory note issued for a specified period stated therein. The Government promises to pay the specified amount mentioned therein to the bearer of the instrument on the due date.

→ The features of the Commercial Bills are- Drawer, Acceptor, Payee, Discounter, Endorser, Assessment, Maturity and Credit Rating.

→ The drawing and acceptance of indigenous bills are governed by native custom or usage of trade.

→ A market whereby the Government or gilt-edged securities can be bought and sold is called ‘Government Securities Market’.

→ Government securities are issued for the purposes of refunding the maturing securities, for advance refunding securities, which have not yet matured and for cash financing, i.e., raising fresh cash resources.

Samacheer Kalvi 12th Commerce Notes