Category Archives: Contract Law

More – Contract Law

Contingent Contract: Concept And Scope

I. Introduction The article discusses the concept and scope of the contingent contract. Contract Act is the basis for all the commercial transaction which takes place in the country. When any party enters into a contract there is no optional clause between the parties that one party shall undertake the particular act and other parties may or may… Read More »

Voidable Agreement

Voidable Agreement | Overview Introduction Free consent Section 15 of the act Section 16 of the ACT Section 17 of the act Section 18 of the act Section 20 of the act Conclusion I. Introduction This article shall be explaining in a detailed manner the provisions relating to the voidable contracts. When contracts are entered but two parties… Read More »

The Lawfulness Of Object And Consideration | Section 23

This article ‘Lawfulness Of Object And Consideration’ shall be analysing what is considered as valid objective and consideration of a contract and what are the criteria through which it can be decided whether the objective and consideration are illegal or not. I. Introduction to the Lawfulness Of Object And Consideration This article shall be analysing what is considered… Read More »

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… Read More »

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… Read More »

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 the… Read More »

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… Read More »

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… Read More »

Need for Indemnity to Facilitate Commercial Transaction

I. Introduction The article discusses the Need for Indemnity to Facilitate Commercial Transaction. 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,… Read More »

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… Read More »