Introduction: A contract is an agreement or a set of obligations that are to be fulfilled by the parties to the contract. In some situations, following the confirmation of the contract, an unforeseen situation may occur, which makes the performance of the contract impossible. The object of the contract has Read more…
Introduction: Multimodal shipping additionally referred to as mixed shipping is the transportation of products below an unmarried agreement, however, accomplished with at the least unique modes of shipping; the service is accountable in a prison feel for the complete carriage, although it is accomplished with the aid of using numerous Read more…
Introduction: In law, the concept of pledge is laid down under Section 172 of the Indian Contract Act (ICA). Pledge is a bailment of personal possession as security for some debt or engagement. Pawn was synonymous with a pledge at common law but the term “Collateral Security” was introduced to Read more…
Introduction: Section 126 of the Indian Contract Act states that contract of guarantee is “a contract to perform the promise, or to discharge the liabilities if a third person in case of his default.” The person who gives the guarantee is called Surety. The person in respect of whose default Read more…
Introduction: Arbitration is a type of Alternative dispute resolution (ADR) which guides the parties to resolve their conflict without going to the court. The decision of the arbitration tribunal or the arbitrator is acceptable in the court of law also. Whenever two parties enter into a contract it becomes their Read more…
Introduction: The meaning of passing if the goods or property is basically the transferring of ownership from the one who sells it to the one who is willing to buy it which is regulated by the rules of sales of goods Act 1930. In order to understand the concept of Read more…
Introduction: The Indian Contract Act, 1872, hereinafter referred to as the Act, deals with Bailment in Chapter IX, from Sec 148 to Sec 181. Bailment refers to the delivery of something from one person to another for a particular purpose, and what has been delivered must be returned once the Read more…
Introduction: The Sale of Goods Act, 1930 can be viewed against the backdrop of Indian Contract Act, 1872 and Transfer of Property Act, 1882 and it lays down special rules of law in regard to the sale of goods. The Sale of Goods Act does not repeal some clauses of Read more…
Introduction: A seller or supplier is obliged to supply the products sold under a sales contract, and the purchaser is obliged to pay them the required sum amount or quid pro quo, i.e. anything in return under the sales contract. This is referred to as the reciprocal promise,[1] according to Read more…
Introduction: An Auction is a process of buying and selling of goods or services, by furnishing them up for bid or offer, taking the offer and then sell the items to the highest price from the lowest bidder. There are different definition exists as per different types of auctions in Read more…
A contract is an agreement, the objective of which is to create a legal obligation. In the words of Anson “the law of contract is that branch of law which determines the circumstances in which a promise shall be legally binding on the person making it” Example: If there is Read more…
Introduction: Since independence, India has made tremendous improvements especially in the field of commerce and trade. Thus, due to the dynamic nature of the commercial world, parliament felt a need for enacting a separate act for the regulation of contracts The Sale of Goods Act, 1930, came into existence on Read more…