Introduction When an offer made by one person is accepted by another person then it becomes a promise. When the person making the offer is getting something in return as a consideration from the person to whom the offer is made becomes an agreement. An agreement enforceable by law is Read more…
INTRODUCTION The word ‘wager’ in layman language means ‘bet’. The term ‘wager agreements’ has not been defined in The Indian Contract Act, 1872. But the nature of such an agreement is explaine by Hawkins J. in the case of Carlil v. Carbolic Smoke Ball Co.[1] “ A wagering contract is Read more…
Introduction The term which defines Bailor & Bailee legal relationship is “bailment”. The derivation of the word “bailment” is from the French word “ballier”, which means “to deliver”. In general words, Bailment means the transfer of possession of goods, from one person (bailor) to another person (bailee); for safekeeping, for Read more…
Introduction Consideration is one of the essential parts of a contract. Promise and consideration together form an agreement[1] and an agreement enforceable by law is a contract[2]. Section 10 of The Indian Contract Act talks about the essentials of a valid contract. Offer, acceptance, consideration, consent, capacity, and legality of Read more…
A contract is an agreement between two or more people. Contract forms the essence of relationship between two or more parties. Indian Contract Act 1872 (Hereinafter: the Act) is the bylaws of contract that every corporate and non-corporate body in India practices. Contract is defined as “An agreement in which Read more…