Short Notes on Agreement vs Contract/ Differences between Agreement and Contract

An agreement is any understanding or arrangement reached between two or more parties. On the other hand a contract is a specific type of agreement that, by its terms and elements, is legally binding and enforceable in a court of law. 

 







There are some basic differences between them. The main differences are-

Agreement	Point of Differences	Contract
An arrangement (usually informal) between two or more parties that is not enforceable by law.	Definition	A formal arrangement between two or more party that, by its terms and elements, is enforceable by law.
Mutual acceptance by both (or all) parties involved.	Validity based on	Mutual acceptance by both (or all) parties involved.
No.	Need to be in writing?	No, except for some specific kinds of contracts, such as those involving land or which cannot be completed within one year.
No	Consideration required	Yes
An agreement that lacks any of the required elements of a contract has no legal effect.	Legal effect	A contract is legally binding and its terms may be enforceable in a court of law.

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Short Notes on Board Meetings

The directors of a joint stock company are jointly known as the board of directors or the board. The administrative functions and policy planning of a company are unseated in the board. The board of directors or often known as the numbers of the board sit at meetings to supervise the progress of routine business or for policy planning or review of the progress of plans already accepted for implementation. Such meetings are called board meetings.

The rules of board meeting are usually mentioned in the Memorandum of Association (M/ A) and the Articles of Association (A/ A) of the company. As per provisions of the Companies Act, a board meeting should be held at least once in every three months or at least four times in a year. At least one-third members of the board of directors or two members (Whichever is higher) constitute quorum in a board meeting. In the absence of the chairman of the board, the senior-most director or any one (with the consent of all from the present directors) may preside over the board meeting.

A board meeting is usually held for considering the application for shares, allotment of shares and their forfeiture, issue of debenture, approval of contract, fixing the date of annual general meeting, determining business policy and plans, appointment of managing director, filling in vacancy in the board by appointing a new director temporarily.

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Short Notes on feedback

The term 'feedback' means the return of the result or response of a particular communication from the receiver. Feedback is frequently used in communication to convey the repercussion of the receiver what he perceives from the message received earlier. So feedback is the return message or response from the receiver to the sender. It is a response from the receiver to the sender. It is a response from the receiver that informs the sender. It is a response from the receiver that informs the sender how the message is being interpreted and how the communication is received in general.

When a message is received, decoded and understood by the receiver, he is expected to show some response or reaction; he may take some action or reply or behave in a particular way as a result of message received. For completion of the communication process the communicator needs to know whether the receiver has responded in the desired way or not, he can find this out by getting feedback from the receiver. Thus feedback is knowledge of result of a particular communication; it can be used for modifying the future course of action relating to communication. No communication is complete without feedback. It completes the circle of two way communication.

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Short Notes on Office Memo

The word memorandum shortly termed as 'memo' means taking note for future or any matter to be remembered. Indeed memo is one kind of written note that helps to keep something in memory. Office memo is a written means of internal communication. It is used to exchange information among official’s subordinates or people of same status in an organization. In fact, office memo is a written means of communication in between different sections, departments or units within the organization. It is used to exchange information among executives, sub-ordinates and people of same status.
 

Office memo is written referring to a specific issue of the organization. Polices and principles of the organization, clarification of policies, any change or modification brought in present policies, any change in work schedule, providing or soliciting advice, request for supplying information, granting permission to perform a particular task etc. are used as the subject matter of office memo. The officials, sub-ordinates and people of the same status may use office memo to exchange information in matters of various 'courses of action of the office. Office memo is frequently used for conveying information, making requests and providing response.

As a tool of internal communication office memo provides certain specific benefits. It provides the message in brief and effective form. It is less expensive and may be used as reference. But office memo can be used only in limited areas. If it is used formally, rules and regulations should be followed strictly and this causes unnecessary delay. If any wrong, exaggerated or distorted information is included in a memo, it cannot by instantly alter. A corrigendum becomes necessary for it. It is useless of the illiterate people.

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Short Notes on Office order

Office order is a means of internal communication within an organization. The term 'order' generally means telling subordinates to do or refrain from doing a specific job. But' passing an order high level executives want their subordinates carry out the order. When a message is conveyed as an order, it means that it carries a stamp of authority with it and has to be accepted. The high level executives circulate office order to the employees. Order is generally issued for posting of employees, promotion, suspension, transfer, and discharge from job, sanction or recession of yearly increment, imposing rules and regulations, enforcing certain rules or course of action etc.

An office order descends from the top of the organizational structure down to the employees for execution. Since office 'order is a formal course of action, it should preferably be written.

Office order is a sensible part of communication. Its subject matter should be well thought, organized, meaningful and attached with reasonable interpretation so that no unpleasant situation grows in the enterprise. It should be relevant, concise, and easy to understand and issued with proper authority and interpretation.

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Short Notes on Office circular

Office circular means written communication to be moved within the organization. It is issued to make the people concerned informed of the general matters of the organization.

In the words of R. Pal and J. S. Korlahalli "Office circulars are meant to convey some information to a large number of people. Such information are usually of general nature and not confidential."

Thus, office circular is a written method of exchanging information by which the written message of higher level are sent to lower level for their information. By means of an office circular many people are made informed of the same matter simultaneously. It is an important means of establishing written communication about 'official matters among the employees of an organization.

An office circular can be made to reach the concerned people in two ways— (i) hanging on the notice board and 

(ii) distribution of copies of circular to the readers. 

In many organizations a notice board is hung near the main gate used for entry or exit. Copies of the circular are hung on the board. Of course many organizations follow the practice of hanging circulars on notice board fixed on walls adjacent to different departments of the organization. Of course, where readers are more or numerous, many copies of office circular are distributed among the readers with or without their signature.

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Short Notes on Annual General Meeting

Every company limited by shares is required to hold a meeting with all of its shareholders once a year. Such a meeting is called annual general meeting. The first annual general meeting must be held within 18 months from the date of its incorporation. In the subsequent years the annual general meeting should be held at least once a year, but under emergency the gap between two annual general meetings may be upto 15 months. The annual general meeting carries important message to the shareholders. Usually its agenda includes declaration of dividend of shares appointment of auditor and fixation of his fees, approval of auditors report and audited accounts, approval of annual report, appointment of new directors where necessary etc.

The notice of the annual general meeting should be sent to the shareholders at least 14 days before the meeting. However, a notice of less than 14 days may be sent with the consent of all shareholders expected to remain present. The agenda of the meeting should be sent with the notice, For failure to convince the annual general meeting in time the company itself and every director liable for such failure may be fined upto Tk. 500/.

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Short Notes on Extra-ordinary Meeting

Any general meeting convened in between two annual general meetings is called extra-ordinary meeting or extra-ordinary general meeting or emergency meeting. Usually such meeting is convened for discussing and resolving important and emergency topics. Exta-ordinary meeting can be convened by the directors or shareholders. It is generally convened for altering. any clause of Memorandum of Association (M/ A) or Articles of Association (A/A) change of share capital, removal of any director, alternation of the rights of debenture holders or for any fundamental change etc.

The owners of at least one-tenth of the paid up capital of the company may submit a prayer to the board of directors for an extra-ordinary meeting. The shareholders must state the reason of the meeting in the requisition letter and it must be signed by all of them and submitted in the company's registered office. Tice board of directors must convene the extra-ordinary meeting within 21 days from the submission of the requisition. On their failure the requisiteness themselves be able to convene the meeting. Of course, the meeting should be held within three months from the 'date of requisites will bear the same effects as it were convened by the board and all expenses will be borne by the company. However, such expenses may be realized from the fees of the directors at fault.

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Short Notes on Internship Program Report

An internship report is prepared by a student under internship program and submitted to the supervisor. It is returned to the student with some comments and suggestions. After necessary modifications and alterations the internee submits the final report to the supervisor who puts his signature on the report and recommends for its evaluation by a board.

From an internship report the supervisor can learn about the nature of the activities of the internee, pattern of work in a particular organization and the nature of the people guiding his activities there.

Thus, internship progress report plays its role as a media of communication between two organizations— one providing internees and the other offering opportunities as trainer for the internees.

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