1. Duty to execute mandate: This duty dictates that the agent is required to carry out the mandateof the principle, and any failure to do so would make the agent absolutely liable for the principal’s loss. Several cases such as Pannalal Jankidas v Mohanlal explain the same- where a commission agent was under instruction to…
A tie in arrangement by its very name seems to refer to an agreement or a system whereby thereis some additional condition which is tied to the primary object. Tie-in agreement includes any arrangement requiring a purchaser of goods as a requirement of such purchase to purchase some other kinds of goods. It is also…
Bid rigging is an illegal practice in which competing parties collude to determine the winner of a bidding process. Bid rigging is a form of anticompetitive collusion and is an act of market manipulation; when bidders coordinate, it undermines the bidding process and can result in a rigged price that is higher than what might…
RIGHTS OF AN UNPAID SELLER Section 45(1) of the Sale of Goods Act defines an unpaid seller as a seller to whom the buyer hasn’t offered or paid the entire amount for the goods or when a bill of exchange or other negotiable instrument has been received as conditional payment, and the condition on which it was…
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 highest bidder.…
Contracts have been a staple in most of our lives; from signing terms and conditions we haven’t got the time to read, to watching lawyers argue about contracts in our favorite courtroom dramas. Contracts are one of the myriad ways in which the law permeates our lives. What is E Contract? E-contract is any kind…
Exclusive clauses in commercial arrangements such as purchase and supply agreements, dealership agreements are commonplace in the supply chain. They are either encountered upstream (while purchasing a good/service) or downstream (while selling a good/service). Competition law recognizes two broad categories of exclusive agreements, i.e., (a) Exclusive Supply Agreements; and (b) Exclusive Distribution Agreements, based on…
Introduction A contract is formed when one party makes an offer and the other party accepts the same, it completes when the party gives free consent that is also communicated to the offeror. There must be some external manifestation of that intent by speech, writing or other act. Such manifestation may be in the form…
IntroductionAs per Section 2(h) of Indian Contract Act, 1872, a contract is an agreement, the object ofwhich is to create an obligation. So when an agreement enables a person to compel anotherto do something or abstain from doing something, it is called a contract. Breach of ContractA contract is breached or broken when any of…
In the previous part undue influence, a reason because of which consent can not be free was discussed. Now in this part too we will continue with some more reasons. •Misrepresentation The simplest meaning of word misrepresentation is misstatement of a fact material to the contract. Section 18 defines misrepresentation “as means andincludes—(1) the positive…
