Law of Contract is an important subject to study not only for law students but for everyone and it’s an interesting subject too. The reason behind this, is that it is the most relatable topic we come across on a daily basis. For instance, online shopping, food home delivery, courier service, selling and buying, etc. […]
There is a need for some credible source t0 secure and reduce the risks in business transactions due t0 gl0balizati0n and increase in international trade as well as d0mestic trade. In contemporary business conditi0ns, the transacti0n takes place internationally, parties are isolated fr0m each 0ther, and a creative institution is required t0 serve the 0riginal functi0n 0f guarantee that
Coercion is defined under section 15 of the Indian Contract Act, 1872 as ‘Coercion’ is the committing or threatening to commit, any act forbidden by the Indian Penal Code, or the unlawful detaining, or threatening to detain, any property, to the prejudice of any person whatever, with the intention of causing any person to enter into an agreement.
‘Quid pro quo’, a legal maxim literally meaning something for something. It is a common understanding between parties to supply a commodity, reciprocally for the merchandise or administrations which they have each profited by accepting. Consideration in layman’s term is the simple concept of give and take. The Indian Contract Act defines consideration as, ‘When
In this technological environment, the standard of people’s lives has changed immensely. The use and utilization of computers & technology have increased. Computers help fill all the transactions or help communicate globally with anyone in this world. The technology has created a bridge or channel between the people globally through a network of computers. The
The contract of agency is a type of contract which represents and defines a relationship between two parties. It is a dealing, where one party is a representative of the other in business dealings and helps create a relationship of a contract with the third party. It is a part of the general contract. INTRODUCTION
