Write a Note on Pledge by Mercantile Agent Introduction The concept of pledge is a special kind of bailment under the Indian Contract Act, 1872. A pledge involves delivering goods as security for the repayment of a debt or performance of a promise. Normally, only the owner of goods or someone authorized by the owner […]
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“Mere Silence as to Facts is Not Fraud” – Explain with Examples Introduction In any contract, honesty and full disclosure are important. But does staying silent count as cheating or fraud? According to the Indian Contract Act, 1872, mere silence does not amount to fraud. In other words, just because someone did not speak up
“Mere silence as to facts is not fraud”. Explain with examples. Read More »
Define ‘Agent’ and ‘Principal’. Can a Minor Be an Agent? Discuss. Introduction The concept of agency is widely used in business, legal, and financial matters. It is a relationship where one person (agent) is authorized to act on behalf of another (principal). This relationship is governed by the Indian Contract Act, 1872, from Section 182
Define ‘agent’ and ‘principal’. Can a minor be an agent? Discuss. Read More »
“An Agreement in Restraint of Trade is Void” – Examine This Statement with Exceptions Introduction The Indian Contract Act, 1872 emphasizes the freedom of trade and profession. To protect this freedom, the Act declares any agreement that restrains a person from carrying on lawful trade or profession as void. This ensures that every individual has
Discuss the Essentials of a Contract of Bailment and State the Rights and Duties of a Bailee Introduction A contract of bailment is a special kind of contract in which one person delivers goods to another for a specific purpose, under the condition that the goods will be returned or disposed of according to instructions.
“Insufficiency of Consideration is Immaterial, but a Valid Contract Must be Supported by Lawful and Real Consideration.” Comment Introduction In contract law, consideration is one of the essential elements required to form a valid contract. It refers to something of value exchanged between the parties. The Indian Contract Act, 1872 emphasizes that although the consideration
Who are Treated as Persons of Unsound Mind? State the Legal Positions of Contracts with Such Persons Introduction Under the Indian Contract Act, 1872, a valid contract must be entered into by persons who are competent to contract. One of the conditions for competency is that the person must be of sound mind at the
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