Revocation of Contract: Meaning and Modes- Our Legal World
Revocation of Contract: Meaning & Modes Meaning Revocation means “cancellation” and it is a type of remedy for buyers when the buyer accepts a nonconforming good from the seller. Section 5 of the Indian Contract Act, lays down the rules of revocation of proposals and acceptances i.e. A proposal may be revoked at any […]
Discharge of Contract under Indian Contract Act, 1872
Discharge of Contract under Indian Contract Act, 1872 Introduction A contract is said to be discharged when the object or obligations is fulfilled, the liability of either party under the contract comes to an end. In other words discharge of contract means “termination of the contractual relationship between the parties”. This is why the rights […]
Consideration: Meaning, Definition and Essential Elements- Contract Act
Consideration: Meaning, Definition and Essential Elements- Contract Act 1872 Consideration: Meaning, Definition and Essential Elements Meaning of Consideration Consideration means “something return” or “something which is given and taken.” It refers to something of value given to someone in return for goods, services or some other promise. It is the price paid for contract. Section […]
VOID AGREEMENT UNDER SECTION 24 to 30 OF INDIAN CONTRACT ACT, 1872
VOID AGREEMENT UNDER SECTION 24 to 30 OF INDIAN CONTRACT ACT, 1872 This article is written by Shikha Singh who is a 2nd-year student of BCom.LL.B. at Banasthali Vidyapith, Rajasthan. The author in this article discusses in detail about the void agreement under Section 24 to 30 of Indian Contract Act, 1872 and also about expressly […]
Offer and Acceptance – Indian Contract Act- 1872
Offer and Acceptance – Indian Contract Act- 1872: Our Legal World Proposal or Offer A proposal and its acceptance is the universally acknowledged process for the making of an agreement[1]. In other words, there must be an offer and acceptance to constitute a contract. The proposal is the starting point and Section 2(a) of the […]