Consideration in Contact Law
Consideration is the foundation of every contract. The law enforces only those promises which are made for consideration. Where one party promises to do something,…
Business
Guarantee Contract
Guarantee Contract: A contract to perform the obligation or to discharge the liability of a third party in case of its default is called contract…
Indemnity Contract
Indemnity Contract: A contract where one party promises to save the other from any loss caused to him by the conduct of promisor himself or…
How an offer is revoked?
An offer may be communicated to the offeree or offerees by word of mouth, by writing or by conduct. The general rule is that the…
When does an offer lapse?
Lapse of offer happens when an offer expires or terminates and ceases to exist. For example, Death of the offeree causes an offer to lapse,…
Rules regarding Consideration
Rules regarding Consideration Consideration in contract law is simply the exchange of one thing of value for another. Without consideration, a contract cannot be enforced…
Voidable Agreement
A voidable agreement is a formal agreement between two parties that may be rendered, unenforceable for a number of legal reasons. Reasons that can make…
Void Agreement
Void agreements are those agreements which are not enforced by law courts. Section 2(g) of the Indian Contract Act defines a void agreement as, “an…
Distinguish between Offer and Acceptance
Offer and acceptance analysis is a traditional approach in contract law used to determine whether an agreement exists between two parties. An offer is an…
All agreements are not contracts but all contracts are agreement – Explanation
All agreements are not contracts but all contracts are agreement – A contract is a legally binding agreement or relationship that exists between two or…
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