What is Contract of Guarantee? Sec. 126 of the Indian Contract Act 1872, which deals with the contract of guarantee, has defined it as “A contract to perform
Creditors’ Voluntary Winding Up Creditors voluntary winding up takes place only when the company is in an insolvent condition and so it is unable to discharge its liabilities
Bailment and Pledge are special class of contracts, which are dealt with in Secs. 148 to 181 of the Indian Contract Act, 1872. What is Bailment? The term
Powers of Company Director The directors are considered as the head and brain of a company. When the brain functions, the company is said to function. For the
A director may be removed by the shareholders or by the Central Government or by the Court. Procedure for removal of Director of a company according to the
Rules governing consideration in a Contract The following are the Rules governing consideration in a contract. Consideration must move at the desire of the promisor. Consideration may Move
What is Consideration in a Contract? Consideration is the foundation of every contract. The law enforces only those promises that are made for consideration. An agreement without consideration
What is a Void Agreement? An agreement, which is not enforceable by law, is void agreement. A void contract should be distinguished from void agreement. The differences between them
What is Stranger to Contract or Privity of Contract? The expression “Privity of Contract” is a doctrine, which means stranger to a contract. It means that a person,
Differences between a Sub-Agent and a Substituted Agent The following are some of the differences between a Sub-Agent and a Substituted agent. 1. Control: A sub-agent is the
