INTRODUCTION The Competition Act, 2002 (the “Competition Act”) was brought into effect in stages from 2002 to 2011. The Competition Commission of India (the “CCI”) was established during this period to administer the Competition Act. The Competition Act repealed the Monopolies and Restrictive Trade Practices Act, 1969 (the “MRTP Act”), and substituted for it, a…
FRAUD Fraud means and includes any of the following acts committed by a party to a contract, or with his connivance, or by his agent, with intent to deceive another party thereto or his agent, or to induce him to enter into a contract:- The suggestion, as a fact, of that which is not true,…
In the last part we discussed about the meaning of consent and coercion. Now in this part let’s continue our discussion. •Undue influenceDictionary meaning of term undue influence is influence by which a person is induced to act otherwise than by their own free will or without adequate attention to the consequences. The Indian Contract…
Introduction Agreements to sell are also a type of sales contract, but they can be more thorough and legally binding than a simple sale. In an agreement to sell, the contract clearly states the price a buyer agrees to pay for either goods or the fulfillment of some kind of condition stipulated. Both parties must…
Over the years of existence of contracts and contract law, different perspectives ands views have developed with time. These perspectives can be called the theories of contract law which help use to view the contract law from different angles and understand the propose and functioning of contract law in various angles and get a broader…
In the last part we discussed misrepresentation in detail. Now let’s continue its discussion with fraud. The term Fraud refers to intentional misrepresentation of facts. In English law “fraud” was defined in the well-known decision of the House of Lords in Derry v Peek (1889) LR 14 AC 337 at p. 374 Lord HERSCHELL said…
INTRODUCTION As per Section 2(f) of the Indian Contract Act, the seller must transfer the goods sold, andthe buyer must pay the required amount in return, under the contract of sale by them. Thisis known as Reciprocal Promise. In other words, any set of promises made which forms theconsideration or part of the consideration for…
MINOR AS A PARTNER According to the Indian Contract Act, 1872, a minor cannot be a party to the agreement, also an agreement involving a minor is deemed to be void-ab-initio. But on the other hand, a minor can gain partnership in a firm/company etc. where he/she is the beneficiary. However, there are certain points…
INTRODUCTION A Confidentiality Agreement which is also known as a Non-Disclosure Agreement, in simple words, is an agreement between two parties where one of the parties is bound to not to disclose any kind of information being provided or shared by the other party to the first party. Non-Disclosure Agreements (NDAs) are agreements signed between…
EFFECTS OF A MINOR’S AGREEMENT A minor’s agreement is void ab initio, i.e, invalid from the start. If the agreement is void, then it is obvious that there is no contract, therefore there is not contractual responsibility on either side. Ø NO ESTOPPEL IN CASE OF MINOR Assume a girl named G, aged 16, aspiring…
