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
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,
Advantages of Contract Account The followings are the advantages of contract account. 1. Work can be completed without any delay. 2. A contractor can find the total cost
What is a Wagering Agreement? Agreements entered into between parties under the condition that money is payable by the first party to the second party on the happening
Agreements Opposed to Public Policy An agreement which is opposed to “Public Policy” cannot be enforced by either of the parties to it. Public Policy is the “Policy
Types of Damages for Breach of Contract There are four types of damages which can be claimed by the aggrieved party. Ordinary Damages or General Damages. Special Damages
