Under the umbrella of the Indian Contract Act of 1872, we study few special contracts. In this paper, we will focus on one such contract, the contract of agency. Contract of agency is given under chapter 10 of the Indian Contract Act,1872, defined in sections 182-238. Contract of agency can precisely be described as a…
What is a memorandum of understandingA Memorandum of Understanding (MOU) is a non-binding agreement between two or more parties which outlines the terms of understanding between said parties. It establishes the roles and responsibilities to be carried out by each party and is often the first step towards a formal contract. Even though an MOU…
An agreement to sell is a contract of sale of goods, in which the seller agrees to transfer goods to the buyer for a price at a later date or after the fulfilment of a condition. When there is a willingness of the both the parties to constitute a sale i.e. the buyer agrees to…
A merger can be defined as combining two or more things to form one object in layman’s language. Under company law, it can be explained as combining two or more entities for one company, which results in combining all the assets and liabilities under one company. For example- there are two companies, A and B, which…
Importance of notice clauseAs mentioned above, it is important to provide a notices clause specifically. It is done to support the actions of the contracting parties taken among themselves. However, it is not necessary. The parties to the contract may or may not agree to draft this clause, but once drafted, it needs to contain…
Abstract: Today I will be taking a document that all of us in our lifetimes at least once in our careers come across yes exactly, I am talking about the employment agreement. Introduction The employer-employee relationship has always been a topic of legal discussion. It has constantly been evolved and witnessed many changes in the…
The term ‘goods’ means ‘every kind of movable property other than actionable claims and money and includes stock and shares, growing crops, and things attached to or forming part of the land which are agreed to be served. A contract of sale is a legal contract an exchange of goods, services or property to be…
In the realm of Criminal Law impeaching the credit of witness plays an important role. The section 155 of Indian Evidence Act gives several modes for impeaching the credibility of the witness; among them one way is by proving of contradictions. The proving of contradiction also includes proving of omission which we will understand in…
Hire purchase is an arrangement for buying expensive consumer goods, where the buyer makes an initial down payment and pays the balance plus interest in instalments. Hire purchase agreements are similar to rent-to-own transactions that give the lessee the option to buy at any time during the agreement, such as rent to own cars. Like rent-to-own,…
A contract is a legally binding agreement between two or more persons which governs the rights and duties of the parties entering into it. A contract may be both written or oral. In order to make a contract legally binding, there has to be an offer, acceptance of the offer, consideration, meeting of minds, free…
