The Indian Contract Act, 1872 defines a Contract under Section 2(h) as an ‘agreement enforceable by law’. There are two key elements of this definition. Agreement An agreement can be defined as promises between two or more parties based on mutual obligations. Enforceable by law For any agreement to be a contract it has to…
Introduction Pledge is a type of special contract in the Indian Contract Act 1872. It comes under bailment but is quite distinct. In bailment, the owner delivers the good to another person for some purpose. When the objective is fulfilled the good is returned to the owner. The owner who delivers the good is called…
Introduction Misrepresentation is the act of inducing another party’s decision by stating false information in a contract. A statement of fact that induces the other party to enter into a contract is known as representation. Representation when wrongly made becomes misrepresentation. Wrongful representation is of two kinds inducing the other party to enter into a…
Introduction An exclusive distribution agreement might take the form of a geographical limitation, in which the supplier agrees to sell his products exclusively to one distributor for resale in a certain region, or of a customer restriction, in which the supplier is limited to sales to a specific set of consumers. It is fairly common…
Introduction The Doctrine of Agency comes into picture when there is emergency exist & where an agent goes beyond the authority of acting as an agent on behalf of the principal in a emergency situation. he courts also accept agency by necessity in case of emergency or urgent circumstance when the beneficiary is unable to offer explicit…
Introduction In our daily life knowingly or unknowingly we enter into a contract when we buy an article or appoint a person as a servant or moving from one place to another place by bus journey etc. The agreement which we enter becomes binding when we enter it through consent. The consent must be free.…
Introduction The purpose of this article is to determine the status of the contractual relationships between spouses. The development of tort law led to the development of common law. This paper discusses the spouses’ standing in tort law and how it evolved into common law. When common law developed, it gave the husband the upper…
Indemnity means “to make good the loss” or “to compensate for the loss”. In section 124 of the Indian Contract Act 1872, contract of indemnity is defined as the contractual duty of one person to indemnify or compensate for the loss or damage caused by himself or the other party in future. It is also…
INTRODUCTION The Computer innovation on this globe gave rise to E-contracts which previously were in the form of pen and paper by the name of traditional contracts. This innovation has made everyone’s life more comfortable and easier than ever before like one can order food sitting at home or even in office. Now every business…
‘Indemnity’, according to Longman’s Dictionary, means protection against loss, especially in the form of promise to pay, or payment for loss of money, goods, etc. In English law, a contract of indemnity refers to a commitment of protecting someone from the loss they might suffer as a consequence of an act. The definition of ‘indemnity’…
