Lawful consideration For a contract to be a valid contract two things are essential lawful object and lawful consideration. So the Indian contract act gives us the parameters that make up such lawful considerations and objects of a contract. Let us take a look at the legality of the object and consideration of a contract. Lawful consideration…
The belief that people’s moral and/or political duties are contingent on a contract or agreement among them to establish the society in which they live is known as social contract theory. To explain to Crito why he must remain in prison and accept the death punishment, Socrates offers a social contract argument. Social contract theory,…
COMMUNICATION IN CONTRACT LAW Abstract Communication refers to the transfer or sharing of thoughts, information, facts between two or more persons. Communication is important for existence and survival of humans. Man being a social animal expresses himself by way of communication. We cannot believe our life without communication. As communication has become important part of…
Indian contracts acts, 1872 is one of the branch or mercantile law, or also known as commercial law. Contracts are mostly made to show an indication of a transaction between two or more parties. Contracts in India have been transacted since time in memorial. In ancient India, the contracts were based on the moral obligations.…
INTRODUCTION A contract of guarantee, also called a contract of surety (S.126 of The Indian Contract Act) can be defined as a contract that is specifically entered into with the purpose of promising or discharging a liability incurred by a third person in case of default. The Kerala High Court in the case of P.J Rajappa…
WHO ARE PARDANASHI WOMEN? Pardanashin woman are those women who had no contact with outside world, they have never interacted with the society. These women does not know about their rights and duties. They are very easily influenced by anyone, they are not provided with education and hence are illiterate. Pardanashin woman are fully dependent…
INTRODUCTION Following the formulation and ratification of a contract by the parties to the contract, circumstances outside their influence can arise that frustrate the intent of their agreement making it impossible or even unlawful to carry out the object of the contract thereby rendering it void. This is known as “frustration of a contract” and…
The role of lawyers is crucial when assessing the development of corporate finance. In the field of corporate finance, the distinction between lawyers and bank investors was initially unclear. Opinions, hearing preparations, securities litigation, new securities issuance, private leveraged buyouts or public IPOs, corporate lawyers and investment bankers go hand in hand. Lawyers who lack…
An unpaid seller has certain rights against the goods and the buyer. In this article, we will refer to the sections of the Sale of Goods Act, 1930 and look at the rights of an unpaid seller against goods namely rights of lien, rights of stoppage in transit etc. An unpaid seller is one to whom…
Introduction Introduction to the specific relief Act is a must before jumping into a range of topics provided. Having a legacy of distinction, earlier through the 1877 Act & then through the 1963 Act, the legislature endeavoured to grant the equitable justification & widen the justice imparting powers of the court. This institution of justice…
