Continuing guarantee Where a guarantee extends to a series of transaction, it is called as Continuing guarantee. Chapter VII...
Contract of Guarantee / Contract of Suretyship : Meaning Definition and Essentials of Contract of Guarantee
The expression 'Guarantee' literally means "assurance given by one person to another at the default of some other"...
Remedies for Breach of a Contract
'Breach of Contract' means failure to perform the Contract and 'Remedy' which means any of the methods availab...
What is Consideration and what are Kinds of Consideration ?
According to Section 2(d) of the Indian Contract Act 1872, there are three kinds of Consideration, viz Past, Present and Future Cons...
Fraud : Meaning, Definition and Essential Elements of fraud
1) Meaning of Fraud : Fraud means dishonestly making a false (untrue or misleading) representation with a view to gain or with ...
Free Consent : What is Consent ? When it is Free ?
Free Consent is an essential element for formation of a contract . According to Section 10 of the Indian Contract Act, 1872, Al...
Consideration : Meaning, Definition and Essential Elements of Consideration
Consideration is necessary for the formation of contract. Section 10 of the Indian Contract Act 1872 provides, " All agreeme...
What are the Essentials of a Valid Acceptance
To constitute a contract there must be an offer and acceptance. Acceptance is the second stage of formation of a Contract. Se...
Coercion : Meaning, Definition and Essential Elements of Coercion
According to Section 10 of the Indian Contract Act, 1872, All agreements are contracts if they are made by the free consent of...
What are Void Agreements ?
Void Agreements According to Section 2(g) of the Indian Contract Act, 1872 "an agreement not enforceable by law is ...
Can offer be Revoked ? If so how ?
Yes, an offer can be revoked . According to Section 5 of the Indian Contract Act 1872, An offer or proposal may be rev...
Undue Influence : Meaning, Definition and Essentials of Undue Influence
For all valid contracts, free consent of the parties is necessary but consent is said to be free when it is not caused by coercion...
Kinds of Agents
Meaning and Definition of Agency Agency is the Legal relationship between an Agent and Principal. In a contract of Agency, a pe...
What is an offer ? What are the essential requisites of a Valid offer ?
The term Offer is also called as Proposal. The first step in the formation of a contract is the making of a proposal. To constitute ...
Bailment : Rights of Bailee
A ‘bailment’ is the delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpos...
See Also..
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1) Consider the following statements : A) Every promise is an agreement. B) Every agreement is a contract. C) A contrac...
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1) Which one of the following element is not necessary for a contract ? A) Competent parties B) Reasonable terms and condition...
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1) Give correct answer : A) Void agreements are always illegal. B) Illegal agreements are always voidable . C) Illegal a...
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Computer is an important part of an accounting system. Computerized accounting systems are important to business in various...
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Advantages of Law - There are many Advantages of law... some of the them are as follows : 1) Uniformity and Certainty: ...