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For details we are referred to the Brhadarhanniti sastra. It seems that Hemacandra's rules derived from an ancient source when the context of loans was much simpler than in the 12th century Gujrat in which he lived himself.
Laws governing the joint ventures of merchants constitute a separate section. Troups of actors, acrobats etc., are also included in this. Such companies were to form a contract by mutual agreement which was to be enforced by the state. If any member of the company was guilty of illegally taking over the money of some body in the public, the whole company was to be implicated as associated with him through consent.
If Hemacandra is briefoncompany law, he is more detailed on the law of gifts. One can gift only ones personal and exclusive property, not the, property of another nor property held in common. A gift once made properly could not be resumed. If resumable it does not amount to gift. A sixfold division is proposed for gifts the price given for a purchase, wages given for work, free gift out of affection or for celebrity or for religious purposes or for some consideration. This definition of gift is obviously a very wide one. It includes payments for consideration as also free gifts out of personal, public or charitable motives. Gifts could only be to an independent personin full possession of his senses and with full knowledge of the circumstances in which the gift was being made. A rare quotation from the Brahadarhanniti says that if a sick man makes a gift, his son is duty-bound to respect it even if the donor dies. It was not permissible to make gifts without regard to the need of one's dependents.
Hemacandra is most elaborate on the law of inheritance. Inheritance is the transfer of the ownership of one's property to one's successors, which may be free or encumbered. The property may be movable or immovable. It is recommended that the movable property should not be divided or sold, except for a situation of emergency because it gives social prestige. Immovable property includes house, garden, fields, etc. In the case of immovable property, one can not make a gift if the father is alive or there is a son. Sale is similarly restricted. This restriction applies even to self-earned property where there is a son. If the parents are dead, the sons have an equal share but if they are alive, they could give it according to their will. The share in the property of the parents carried with it a share in their liabilities. Where the eldest son inherits all the property because of the immaturity of the other brothers, he has the responsibility of looking after the others as the head of the family. If there is a daughter remaining unmarried after the death of the parents, it is the duty of the sons to help her marriage by giving one fourth of their share. A married daughter has no share in the parental property except what is given freely by the father out
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