Tag: contract
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 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 front …
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 subject …
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 are: …
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, who …
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 of …
What is a Condition in Contract of Sale? A condition is a stipulation which is essential to the main purpose of the contract. If there is a breach of …
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 of …
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 of …
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 Exemplary …
