Sagnik Sarkar

Author Archives: Sagnik Sarkar

Insurance Contract and Indemnity In India

I. Introduction The contract of indemnity as described in section 124 of the Indian Contract Act[1], is a contract between two parties where one party promises to indemnify the other party in case the later one suffers from any loss or to incur any kind of expenses or to protect him from any legal consequences which have been……...

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Consequences Of Breach Of Contract

Consequences Of Breach Of Contract | Overview Section 73 of the act The “Hadley v Baxendale” rule Loss of profit Section74 of the act Section 75 of the act Types of damages Conclusion The article discusses the Consequences of Breach of Contract. A contractual agreement is the backbone of commerce & trade of any country. Any country which……...

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Quasi Contract and Claim for Compensation

I. Introduction The article talks about Quasi Contract and Claim for Compensation. A contractual obligation includes offer, acceptance, considerations and performance of the contract. Contractual obligations are the sole of commercial transactions and without which no trade & commerce would be possible. But there is a certain contract which binds the party for performance even when some of……...

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Case Analysis: Carbolic Smoke Ball Company [1892] 2 Qb 484

This is one of the celebrated cases in the history of Indian Contract Law which has settled various principles of contract law. It was a case of binding unilateral offer that could be accepted by anyone who performed its term. This case was adjudicated by 3 English judges; Lindley LJ, A.L, Smith LJ and Bowen LJ & developed……...

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Capacity to Contract | Disqualification of person to contract

In today’s globalized era, the capacity to contract and enter into commercial transactions is one of the most important aspects of the liberalisation policy, which the govt implemented in 1991. Without this right, the forex earning of the country will deplete and it won’t be able to safeguard itself from the external financial shock. So India Contract Act……...

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Important Definitions and Terms in Indian Contract Act 1872

Indian Contract Act is one of the most comprehensive commercial laws ever drafted that laid the principle foundation for the smooth transaction of commercial transactions. The scope and the ambit of the Act are so wide with the increasing number of the amendment and complex judicial decisions that to fully grasp the Act in its totality, the meaning……...

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10 Things to Consider Before Opting for Law As a Career

The article discusses the 10 Things to Consider Before Opting for Law As a Career. With the declaration of class 12th results, every student is now contemplating what course of action has to be taken. There is now, a plethora of opportunities for students, which was earlier not the case. Earlier student after completing class 12th has only… Read More »

Need for Indemnity to Facilitate Commercial Transaction

I. Introduction The article discusses the Need for Indemnity to Facilitate Commercial transactions. India’s GDP rate for this quarter is 6.8% and with the introduction of new reforms in the recent budget speech of Hon’ble finance minister Nirmala Sitharaman, it can be said that India is aiming for the 5 trillion dollar economy for boosting its economic growth,……...

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Historical Evolution of Contract Law in India

To understand the contract act in its present form we have to analyze the historical evolution of contract law taking into account the practices that were prevalent before the enactment came into practice. Introduction – Historical Evolution of Contract Law  Contract act is one of the principal acts governing all the contractual relations not only in the business……...

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10 Things To Expect From Law Professors

The season of the competitive exam is over and now all the law aspirants are quite excited over the allotment of their desired law schools and eager to start a new chapter of their life-quite frankly it’s the phase of transition from teenage high school student who has no such responsibility for their life to adult varsity student… Read More »