Advanced Search
Search Results
20 total results found
Meaning and Scope of Business Law
Meaning of Business Law Business law refers to the collection of legal rules, regulations, and principles that govern business activities and commercial transactions. It encompasses various legal domains, including contracts, sales, partnerships, corporations,...
Sources of Business Law
Indian business law is derived from multiple sources that govern business activities and transactions. These sources form the legal framework that guides businesses in India. 1. Constitution of India The Constitution is the supreme law of the land, providing...
The Indian Contract Act, 1872: Definition and Overview
Definition of a Contract Section 2(h) of the Indian Contract Act, 1872 defines a contract as: "An agreement enforceable by law." This means that a contract is a legally binding agreement between two or more parties, where mutual promises are made and are enf...
Types of Contracts under The Indian Contract Act, 1872
Contracts can be classified into different types based on their validity, formation, and performance. Below are the classifications and explanations: 1. Types Based on Validity This classification determines whether a contract is legally enforceable. (a) Vali...
Discharge of a Contract and Remedies for Breach of Contract
1. Discharge of a Contract The term "discharge of a contract" refers to the termination of the contractual obligations of the parties involved. A contract can be discharged in the following ways: (a) Discharge by Performance A contract is discharged when the ...
E-Contracts: Meaning and Need for Digital Goods
Meaning of E-Contracts E-Contracts (Electronic Contracts) are agreements created, signed, and executed electronically without the need for physical paper documentation. These contracts are formed via digital platforms such as emails, websites, or specialized s...
Unfair Terms in E-Contracts
Meaning of Unfair Terms in E-Contracts Unfair terms in E-Contracts refer to contractual clauses that create an imbalance in the rights and obligations of the parties to the detriment of one party, typically the consumer. These terms are often imposed unilatera...
Distinction between Indemnity and Guarantee
Basis of Distinction Indemnity Guarantee Definition A contract where one party agrees to compensate another for losses incurred due to specific events or actions. (Section 124, Indian Contract Act, 1872) A contract where one party (the guarantor) promis...
Kinds of Guarantee
A Guarantee is a legal commitment where one party (the guarantor) promises to fulfill the obligations or debts of another party (the principal debtor) in case of default. Guarantees can be classified based on their nature, scope, and conditions. Below are the ...
Rights of Surety
A surety is a person who guarantees the performance of a contract or repayment of a debt by the principal debtor. The Indian Contract Act, 1872, provides various rights to the surety to ensure fair treatment and protect their interests. These rights can be cla...
Liability of Surety
A surety is a person who guarantees the performance of a contract or the repayment of a debt by the principal debtor. Under the Indian Contract Act, 1872, the liability of a surety is defined and governed by Sections 126 to 147. The liability of a surety depen...
Discharge of Surety
The discharge of a surety refers to the termination of the surety’s liability under a contract of guarantee. A surety can be discharged from their obligations through various legal provisions outlined in the Indian Contract Act, 1872. Below are the circumstanc...
Definition of Goods Under the Sale of Goods Act, 1930
Definition of Goods (Section 2(7)) Under Section 2(7) of the Sale of Goods Act, 1930, "Goods" are defined as: "Every kind of movable property other than actionable claims and money." This includes tangible movable property such as raw materials, finished pro...
Types/Classification of Goods Under the Sale of Goods Act, 1930
The Sale of Goods Act, 1930 classifies goods into three main categories based on their existence, ownership, and dependency on future events. These classifications are important for determining the rights and obligations of buyers and sellers. 1. Existing Goo...
Sale and Agreement to Sell
The Sale of Goods Act, 1930 distinguishes between a Sale and an Agreement to Sell under Section 4. These concepts are critical in understanding the rights and obligations of buyers and sellers in commercial transactions. 1. Sale A Sale is defined under Sectio...
Conditions and Warranties
The concepts of Conditions and Warranties are fundamental to contracts for the sale of goods, as they define the obligations of the seller and the rights of the buyer. These are governed under Sections 11 to 17 of the Sale of Goods Act, 1930. 1. Conditions A ...
Rights & Liabilities of a Buyer and Seller, and Rights of an Unpaid Seller
1. Rights and Liabilities of a Seller The seller's rights and liabilities are defined under the Sale of Goods Act, 1930 and depend on whether the goods have been delivered or payment has been made. Rights of a Seller Before Delivery of Goods: Right to Rece...
1. Contract Law Cases (Indian Contract Act, 1872)
Case 1: Mohiri Bibi vs. Dharmodas Ghose (1903) Issue: A minor named Dharmodas Ghose fraudulently represented himself as an adult and entered into a mortgage agreement with a moneylender. Later, the minor refused to repay the loan, claiming that the contract w...
2. Indemnity & Guarantee Cases
Case 1: Rights of a Surety (Co-Sureties & Contribution) Scenario: A, B, and C jointly acted as sureties for a loan taken by D from a bank. D defaulted, and the bank forced A to pay the entire amount. A then sought contribution from B and C. Legal Principl...
3. Sale of Goods Act Cases
Case 1: Sale vs. Agreement to Sell Scenario: A agrees to sell B 100 bags of rice after receiving stock from his supplier. Later, A refuses to supply the rice, claiming that he never received the stock. B sues for breach of contract. Legal Principle Applied:...