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A large numbers of different theories have been formulated. The principal theories of failure for a member subjected to biaxial stress are as follows
I. Maximum principal (or normal) stress theory (Rankine’s th
II. Maximum shear stress theory (Guest’s theory
III. Maximum principal (or normal) strain theory (Saint’s theory
IV. Maximum strain energy theory (Haigh’s theory
V. Maximum distortion energy theory (Hencky&Von Mises th