According to section 2(h) of the Indian Contract Act, 1872, an agreement enforceable by the law is referred as a contract. However, a more detailed definition of a valid contract is provided in section 10 of the Indian Contract Act, 1872. According to section 10 of the Indian Contract Act, 1872 all agreements are contracts…
According to Section 10 of the Indian Contract Act, 1872- All agreements are contracts if they are made by the free consent of the parties competent to contract, for a lawful consideration and with a lawful object and are not hereby expressly declared to be void. Contracts vary in terms of their terms, conditions, length,…
An electronic contract is one that is executed through e-commerce, frequently even without parties physically meeting. It alludes to business dealings carried out and completed online. A client withdrawing cash from an ATM is an illustration of an e-contract. When a consumer purchases a good from such an online retailer, it is an additional example…
Introduction A contract is a written document in which the parties specify the terms and conditions of their partnership and business dealings. A contract’s termination is crucial since it gives the parties a way out. A contract may be cancelled by the parties concerned under the Indian Contract Act of 1872 by providing justifiable grounds…
Vested interest and contingent interest are the two types of interests that are covered by the Transfer of Property Act, 1882. Given that there are numerous parts that discuss vested interest and contingent interest, it is crucial to comprehend these notions. The key distinction between the two ideas is that the transfer of property with…
A contract may be defined as an agreement enforceable by law. A contract may be defined as an agreement enforceable by law. A contract must satisfy the provisions of Section 10 of the Indian Contract Act, 1872 to be legally enforceable. The requirements are: Section 11 & 12 – The parties must be competent Section…
According to Section 2 (e) of the Indian Contract Act, 1872,” Every promise and every set of promises forming the consideration for each other is an agreement” The party making the proposal is called the ‘promisor’ and the party accepting the proposal is called ‘promisee’. Different types of agreement Valid Agreement – Agreements having proposal…
A strategic and cooperative partnership between native and non-resident commercial organizations is known as a foreign collaboration agreement. Any one of the firms involved in an international agreement has to be a foreign entity. The firm is launched in another nation with or without the creation of a new corporation since it is established for…
Section 2 (d) of the Indian Contract Act, 1872 defines consideration as “When, at the desire of the promisor, the promise or any other person as done or abstained from doing, or does or abstains from doing, or promises to do or to abstain from doing, such act or abstinence or promise is called a…
Agreement is meeting of minds on same issues from same perspective. The intention of the parties engaging in an agreement should be common. It comes to existence with offer and acceptance. As per Section 2(e) of the Indian Contract Act, 1872,”Every promise and every set of promises forming the consideration for each other is an…
