The ideal market is the one in which various market participants are independent and act as competitive restrain on each other. This economic liberty of market participants is sine qua non for preserving free and unfettered competition in any market. Some time the market participants with an objective to make more money instead of competing…
View detailsINTRODUCTION When disagreeing parties are not satisfied with the judgement passed by the Court via litigation, Alternative Dispute Resolution (ADR) comes in play to save the day. ADR is an external dispute resolution method which is used to settle disputes between two parties or more, with the help of a third party. It has a…
View detailsShould Fathers be given Paternity Leave? Albeit paid leave is regularly outlined as an issue that matters to working ladies, paid parental leave is moreover fundamentally significant for fathers. Approaches that guarantee fathers have the help they need to organize their family duties, while additionally satisfying work needs; can essentially expand the individual and monetary…
View detailsA contract is an agreement between private parties or individuals that create mutual obligations, which are legally enforceable. Mutual assent, expressed by a valid offer and acceptance, adequate consideration, legality, and capacity are the basic elements required for an agreement to be legally enforceable. Contracts are legally enforceable promises. And whenever a promise is not fulfilled,…
View detailsTOPIC: What is a cheque, promissory note, and bill of exchange A brief history The NI Act is not a newly drafter post-colonial act. It dates back to the colonial rule and has remained largely unchanged. It was first drafted in 1866 by the 3rd Indian law commission however, due to constant objections by select…
View detailsAuction Sale INTRODUCTION A public sale is an auction sale. The products are auctioned to the general public who have gathered in one location for the auction, and all prospective buyers are referred to as bidders. The bid is the price they are giving for the products, and the things will be sold to the…
View detailsNegotiable Instruments Act, 1881 The Negotiable Instrument Act was drafted in 1866 and came in force in 1881. It is originally a colonial law which is still widely practiced in India. According to Section 13 of the Negotiable Instrument Act, “Negotiable instrument means a promissory note, bill of exchange or cheque payable either to order…
View detailsEXCEPTION TO THE RULE OF CAVEAT EMPTOR The Doctrine of Caveat Emptor and its Exceptions Introduction To understand the concept of Caveat emptor, let us ponder upon the following illustrations: A purchases a house from B. Before the purchase, A asked B about the defects in the house. B told him that there was a…
View detailsBailment vs. Pledge Bailment and Pledge are two types of contracts that can get confusing. Bailment is defined as per Section 148, Indian Contract Act 1872 as the transfer of movable goods from one party to another party for any specific purposes such as service, promise or need[1] whereas, pledge is defined in Section 172…
View detailsWHO IS A HOLDER According to Section 8 of the Negotiable Instruments Act, 1881, the “holder” of a promissory note, bill of exchange or cheque means any person who is entitled in his own name to the possession thereof and to receive or recover the amount due thereon from the parties thereto. Let’s understand the…
View detailsWhatsApp us
