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...
What is a sound mind for the purposes of contracting ?
1) Introduction : Every person is competent to contract who is of the age of majority according to the law to which he is subjec...
Duties and Liabilities of Bailor (Indian Contract Act 1872)
Introduction : A ‘bailment’ is the delivery of goods by one person to another for some purpose, upon a contract that the...
Kaliaperumal Vs. Visalakshmi (1938) AIR 1938 Mad 32
Kaliaperumal Vs. Visalakshmi (1938) Fact : In this case, a lady employed a Goldsmith for melting old jewellery to make some n...
Types / Kinds / Classification of Bailment
What is Bailment ? A ‘bailment’ is the delivery of goods by one person to another for some purpose, upon a contract that...
Types of Agreement (The Indian Contract Act, 1872)
According to Section 2(e) of the Indian Contract Act, 1872, "Every promise and every set of promises forming the consideration...
Continuing Guarantee and Revocation of Continuing Guarantee
1) Introduction Chapter VIII, Section 129 to Section 131 of the Indian Act, 1872 lay down the provisions relating to "...
Contract of Indemnity
Contract of Indemnity defined under Section 124 of Indian Contract Act 1872 A contract of insurance is kind of contract of inde...
Contingent Contracts
Definition of Contingent Contract - According to Section 31 of Indian Contract Act, 1872. A contingent contract is a contract to...
Difference Between Partnership and company
Partnership and company Both company and partnership are the means of carrying on business and In both the relation of members is ...
Distinction/ difference between tort and contract
No Tort Contract 1) In tort, no privity exists or is needed as harm is always inflic...
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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Advantages of Law - There are many Advantages of law... some of the them are as follows : 1) Uniformity and Certainty: ...
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Computer is an important part of an accounting system. Computerized accounting systems are important to business in various...