Category Archives: Contract Law

More – Contract Law

A Brief Analysis of Wagering Agreements

In very simple terms, wagering is a bet on something which could bring a win or the opposite on the parties at the occurrence of uncertain future events. So it would be a wagering agreement. Abstract In this research paper, I have discussed briefly the definition of wagering agreements, its essential features and its exceptions. I have also discussed… Read More »

Promissory Estoppel – Meaning and Explanation

Introduction Indian Contracts Act 1872 deals with the topic Promissory Estoppel. The whole ambit of promissory estoppel stands on the pedestal of “Promise” and “Enforcing it”. In the field of law, the doctrine of promissory estoppel is a departure from the doctrine of consideration. There is no provision as such which clears availability of relief under this principle… Read More »

Introduction and Nature of Indian Contract Act, 1872

This article deals with the Introduction and Nature of Contract by providing an insight into the advent of the Indian Contract Act. The Contract Act, 1872 provides the legal framework for the formulation of trade, business and commercial relations and transactions in which contract is involved. The provisions of the Act and principles enshrined therein and the application… Read More »

Performance of Contract

Performance of Contracts A contract being an agreement enforceable by law, creates a legal obligation, which subsists until discharge. Performance of the promise or promises remaining to be performed is the principal and most usual mode of discharge. This unit explains; who must perform his obligation, what should be the mode of performance, and what shall be the… Read More »

Breach of Contract

Breach means failure of a party to perform his or her obligation under a contract. Breach of contract may arise in two ways: (1) Anticipatory breach of contract (2) Actual breach of contract Anticipatory breach of contract It is an important concept under the law of contractual relationship. When the promisor refuses altogether to perform his promise and… Read More »

Contingent Contract

What is a Contingent Contract? A contract may be absolute or a contingent. An Absolute contract is one where the promisor undertakes to perform the contract in any event without any condition. Whereas, Section 31 of the Act defines contingent contract as “a contract to do or not to do something, if some event collateral to such contract,… Read More »