Business Law

According to section 182. “An agent is a person employed to do any act for another or to represent another dealing with third persons”. So, an agent is a person…

What is Assignment of contracts? Assignment of contracts means to transfer of the contractual rights and liabilities to a third party with or without the consent of the other party…

What is Performance of Contract and when the contract is valid? It is a legal compulsion that it must be performed by the contracting parties. The performance of contract means…

It is a promise where two or more parties enter into a contract with one or more parties known as joint promise. It may be in the following shapes: Several…

What is the difference between condition and warranty? A contract of sale contains many stipulations regarding, the nature and quality of goods. These stipulations are not of equal importance. Some…

What is Acceptance of Proposal? According to the Contract Act, “When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted.…

The agent has been defined under section 182 of the Contract Act 1 872 as follows: “An agent is a person employed to do an act for another or to…

What is Contract of guarantee? According to section 126 of The Contract Act, a contract of guarantee has been defined as follows: “A contract of guarantee is a contract to…

Contract of indemnity is a contract in which one party promise to pay the amount of loss causes by another. A contract of indemnity has been defined under section 124…

What is Revocation of Acceptance? According to section 5 of the Contract Act, an acceptance may be revoked at any time before its communication is as against the acceptor and…