Introduction: A contract has been defined under Section 2(h) of the Indian Contract Act, 1872 as an agreement that is enforceable by law of the land. A contract creates a relationship between the parties and governs their obligations. For a contract to be fairly understood and interpreted by each party Read more…
Introduction: A tender is nothing but an offer. An “offer to perform” is referred to as a “tender” under English law. Generally, parties to a contract must either perform or offer to perform, their respective promises, unless the performance is dispensed with or excused under the provisions of the Contract Read more…
Introduction: Sales can be made in various ways namely, description, sample or combination of sample and description, tenders. Just like the above-stated ways, an auction is also one of the ways in which a sale can be made. Auction has become a very common word after IPL has come into Read more…
Introduction: Of all the legal setups in the world, the Law of Contracts is fundamental to all of them. The reason being, it is the most primary and most applicable law in daily transactions. Contracts form the basis of almost all the fields of law, prominently the commercial and banking Read more…
Introduction: A contract put an onus on the parties to the contract to perform, completion of which completes the contract, failing which makes the said party liable for breach of contract. However, there is a possibility of happening of uncertain and unpredictable events that makes it impossible to bring off Read more…
Introduction: In many jurisdictions across the world, the essential elements of each valid contract are the intention to constitute legal relations. An intention to constitute legal relations is described as an intention to make a legally binding contract or agreement. One of the contract’s elements is to have the intention Read more…
Introduction: Void agreement in the legal sense means agreement without any legal force, consequence, or effect and which is not binding because of being invalid. We are going to discuss below the following agreements which have been considered as void by “The Indian Contract Act, 1872”. An agreement that is Read more…
Introduction: The Privity of Contract is an English law concept that guarantees that no one should be entitled to or bound by the provisions of the arrangement to which he is not an undisputed party. In simple words, it can be said that it is a theory of common law Read more…
Introduction: Section 2(h) of the Indian Contracts Act mentions that any agreement which is enforceable by law is a contract.[1] In addition to this Section 10 of the Indian Contracts Act mentions the requirements of a contract, existence of some consideration, competency of parties, free consent and the object pertaining Read more…
Introduction A contract is a legally enforceable agreement that is binding on its parties. It is considered to be breached when one of the parties to a contract refuses to perform its obligations. In India, the remedies for breach of contract include monetary reliefs, specific performance, or both. The court Read more…
INTRODUCTION Contracts became so common in lifestyle that the majority of the time we don’t even recognize that we’ve entered into one. Right from hiring a taxi to purchasing airline tickets online, countless things in our daily lives are ruled by contracts. The Indian Contract Act, 1872 governs the way Read more…
Introduction Contracts govern a large aspect of day to day life; they are one of the fundamental ways that society is ordered. Section 2(h) of the Indian Contract Act 1872, defines a contract as an agreement enforceable by law. There are several requirements for a valid contract.[1] i) Offer[2] ii) Read more…