Definition Standard form contract or boilerplate contract commonly called “Adhesion Contract” drafted by one party having greater bargaining power and the other party having lesser bargaining power signs it. Thus the second party is incapable of any amendments or negotiation regarding the provisions of the contract. More common use of adhesion contracts are in insurance…
A contact has been defined in section 2(h) of Indian Contract Act 1864 as “contract- an agreement enforceable by law”. Indian Contract Act defines agreement in Section 2(e) as “Every promise and every set of promise forming the consideration for each other is an agreement”. There is a bit of difference between agreement and contract…
A misrepresentation is an untrue statement of a material fact made by one party which affects the other party’s decision in corresponding to a contract. If the misrepresentation is identified, the contract can be declared void and depending on the situation, the unfavourably impacted party may seek damages. In such a contract dispute, the party…
• Name of the deed: It is the parties who have to decide that which deed has to be prepared e.g. DEED OF SALE or DEED OF MORTGAGE or DEED OF LEASE etc. and based on which there will be transfer of ownership of immovable property. • Parties to sale deed: An absolute sale deed…
A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price. There may be a contract of sale between one part-owner and another. Before the introduction of Sale of Goods Act, 1930 laws governing the sales were sections 76…
Capacity to contract means the competency to enter into a valid contract legally. The capacity to contract binds the parties of the contract with a promise to oblige by it. But only certain persons have the competency or the capacity to make a contract. This article deals with the basic components necessary for a person…
Mohori Bibee V. Dharmodas Ghose (Case Analysis) Introduction: The law relating to contracts in India is contained in the Indian Contract Act, 1872. The Act was passed by British India and is based on the principles of English Common Law. It is applicable to all the states of India except the state of Jammu and…
Whenever we talk about consideration the first thing we think is of contract. Now, since we know that an agreement becomes a contract only when it is enforceable by law and it goes through a number of steps like proposal, acceptance, binding promise and the most important of all which is consideration. Consideration is the…
An agreement enforceable by law is a contract. Essential elements of the contract are:- 1. Consideration of two or more parties. 2. Offer and acceptance. 3. Free consent. 4. Parties should be competent enough to enter into a contract etc. Including all the essential elements makes a valid contract but a quasi contract can be…
Chapter X of the Indian Contract Act, 1872 deals with the laws relating to a special contract named ‘Agency’. When one party delegates some authority to another party whereby the latter performs his actions in a more or less independent fashion, on behalf of the first party, the relationship between them is called an agency.…
