|
Standard Form Contracts:
The law of contract has in recent time to face a problem, which is assuming new
dimensions. The problem has arisen out of the modern large scale and widespread
practice of concluding contracts in standardized form. People upon whom such
exemption clauses or standard form contracts are imposed hardly have any choice
or alternative but to adhere. This gives a unique opportunity to the giant
company to exploit the weakness of the individual by imposing upon him terms,
which may go to the extent of exempting the company from all liability under
contract. It is necessary and proper that their interests should be protected.
The courts have therefore devised some rules to protect the interest of such
persons...
Post-Termination non-compete clauses in employment
contracts:
Indian courts have consistently refused to enforce post-termination non-compete
clauses in employment contracts, viewing them as “restraint of trade”
impermissible under Section 27 of the Indian Contract Act, 1872 (the Act), and
as void and against public policy because of their potential to deprive an
individual of his or her fundamental right to earn a livelihood...
Wagering Contracts
The contract Act does not define a wagering agreement. Cotton, L.J. (Thacker v.
Hardy) said: “The essence of gaming and wagering is that one party is to win and
other to lose upon a future event which at the time of contract is of an
uncertain nature, i.e., that if the future event turns out one way A will lose,
but if it turns out the other way, he will win”. Hawkins, J. (Carlill v.
Carbolic smoke Ball Co.)Said: “It is essential to a wagering contract that each
party may under it either win or lose, whether he will win or lose being
dependent on the issue of the event and therefore remaining uncertain until,
that issue is known. If either of the parties may win but cannot lose, or may
lose but cannot win, it is not a wagering contract”. In this case the defendants
promised to pay 100 pounds to anyone who caught influenza after using the smoke
ball manufactured by them. It was held not to be a wager because the user could
not lose anything if he failed to catch influenza. The important points to be
noted here is that there should be equal chances of gain or loss to the parties
and it should be regarding an uncertain event. The most striking feature of
wager is that each party has the chance of winning or losing.
Government Contracts:
The subject of government contracts has assumed great importance in the modern
times. Today the state is a source of wealth. In the modern era of a welfare
state, government's economic activities are expanding and the government is
increasingly assuming the role of the dispenser of a large number of benefits.
Today a large number of individuals and business organizations enjoy largess in
the form of government contracts, licenses, quotas, mineral rights, jobs, etc.
This raises the possibility of exercise of power by a government to dispense
largess in an arbitrary manner. It is axiomatic that the government or any of
its agencies ought not to be allowed to act arbitrarily and confer benefits on
whomsoever they want. Therefore there is a necessity to develop some norms to
regulate and protect individual interest in such wealth and thus structure and
discipline the government discretion to confer such benefits.
Contract- II: Bailment:
Contracts of Bailment are a special class of contract. These are dealt within
Chap. IX from S.148 to 181 of the Indian Contract Act, 1872. Bailment implies a
sort of one person temporarily goes into the possession of another. The
circumstance in which this happens are numerous. Delivering a cycle, watch or
any other article for repair, delivering gold to a goldsmith for making
ornaments, delivering garments to a drycleaner, delivering goods for carriage,
etc. are all familiar situations which create the relationship of ‘Bailment’....
A Study of Contract Labour (Regulation and Abolition) Act,
1970:
Contract labourers also suffer from inferior labour status, casual nature of
employment, lack of job security and poor economic conditions. It was also
observed that in some cases the contract labourers did the same work as the
workers directly employed by the industrialist but were no paid the same wages
and the same working conditions. This practice of contract labour has also lead
to the exploitation of these labourers as they are not employed directly under
the employer. This practice of exploitation was and still is very much prevalent
in India, therefore to encounter such problem and also to regulate the
conditions of these labourers the Govt. passed an Act called the Contract Labour
(Regulation and Abolition) Act, 1970.....
Contract Labour:
Basic instinct. Hearing the concept of labour, what strikes the minds of the
layman is the name sakingly clad men and women who work at construction sites,
factories and alongside the roads, working in the scorching sun and pitiful
conditions. Does it ever come to the minds of the general public that these
labourers have a huge set of laws governing and safeguarding their rights ? yes.
Probably some of us do know about labour laws. Ever given a second thought about
the implementation of these laws and regulations which are painstakingly
formulated? Not that they are not followed at all but come on! We’re aware of
the scene here in our country...
E-Contracts:
It’s an undisputed fact that E-Commerce has become a part of our daily life. One
such justification for the popularization of E-Commerce would be immoderate
technological advancement. E-Commerce, as the name suggests, is the practice of
buying and selling goods and services through online consumer services on the
internet. The ‘e’ used before the word ‘commerce’ is a shortened form of
‘electronic’. The effectiveness of E-Commerce is based on electronically made
contracts known as E-Contracts. Although E-Contracts are legalized by
Information Technology Act but still majority feels insecure while dealing
online. The reason being lack of transparency in the terms & conditions attached
to the contract and the jurisdiction in case of a dispute that may arise during
the pendency of a transaction with an offshore site...
Specific performance of Contracts:
Specific performance is equitable relief, given by the court to enforce against
a defendant, the duty of doing what he agreed by contract to do. Thus, the
remedy of specific performance is in contrast with the remedy by way of damages
for breach of contract, which gives pecuniary compensation for failure to carry
out the terms of the contract. Damages and specific performance are both,
remedies available upon breach of obligations by a party to the contract; the
former is a ‘substitutional’ remedy, and the latter a ‘specific’ remedy. The
remedy of specific performance is granted by way of exception....
The Contract Labour (Regulation And Abolition) Act, 1970:
The Object of the Contract Labour Regulation and Abolition) Act, 1970 is to
prevent exploitation of contract labour and also to introduce better conditions
of work. A workman is deemed to be employed as Contract Labour when he is hired
in connection with the work of an establishment by or through a Contractor.
Contract workmen are indirect employees. Contract Labour differs from Direct
Labour in terms of employment relationship with the establishment and method of
wage payment....
Regulation of Contract Labour:
Contract Labour is one of the acute form of unorganized labour. Under the system
of contract labour workers may be employed through contractor on the contract
basis. Workmen shall be deemed to be employed as contract
labour or in connection with the work of an establishment when he is
hired in or in connection with such work by or through a contractor, with or
without the knowledge of the principal employer. In this class of labour the
contractors hire men (contract labour) who do the work on the premises of the
employer, known as the principal employer but are not deemed to be the employees
of the principal employer. The range of tasks performed by such contract workers
varies from security to sweeping and catering and is steadily increasing. It has
been felt, and rightly too, that the execution of a work on contract through a
contractor who deployed the contract labour was to deprive the labour of its due
wages and privileges of labour class....
Doctrine of Frustration & Force-Majeure Clause:
The requirements of Force-Majeure are:
(a) It must proceed from a cause not brought about by the defaulting party’s
default.
(b) The cause must be inevitable and unforeseeable.
(c) The cause must make execution of the contract wholly impossible....
The Calculation of Damages in EPC Contracts in India:
The engineering & construction industry, especially that in India, is dynamic
and highly volatile, making it susceptible to tremendous amounts of litigation
and other forms of alternative dispute resolution. The rapid and substantial
growth in the magnitude of this industry has resulted in the increased need for
information about the rights and obligations of the various players involved in
the execution of a particular work of construction. It has become essential that
proper attention is given to assert one’s rights and discharge one’s obligations
as laid down by the law and also by a correct understanding of the meaning and
interpretation of the terms of the contract governing such relationships, as
otherwise the basis of estimates and calculations made will become infructuous...
Liquidated Damages:
The Indian Contract Act, 1872, provides a basic structure of the law of contract
in India, its enforcement, various provisions regarding non-performance and the
breach of contract. This report is aimed to highlight provisions regarding
liquidated damages in case of the breach of the contract and to bring about a
comparative study between India and England regarding it. Thus, before knowing
what exactly liquidated damages are, it is important to understand the
consequences of breach of contract and the damages awarded in case of breach. A
party who is injured by the breach of a contract may bring an action for damages
and Damages means compensation in terms of money for the loss suffered by the
injured party. Thus, in contract when these damages are awarded it is known as
liquidated damages...
Privity of contract & third party beneficiary in a
contract:
The doctrine of privity of contract means that only those involved in striking a
bargain would have standing to enforce it. In general this is still the case,
only parties to a contract may sue for the breach of a contract, although in
recent years the rule of privity has eroded somewhat and third party
beneficiaries have been allowed to recover damages for breaches of contracts
they were not party to. There are two times where third party beneficiaries are
allowed to fall under the contract. The duty owed test looks to see if the third
party was agreeing to pay a debt for the original party. The intent to benefit
test looks to see if circumstances indicate that the promisee intends to give
the beneficiary the benefit of the promised performance. Any defense allowed to
parties of the original contract extend to third party beneficiaries[1]. A
recent example is in England, where the Contract (Rights of Third Parties) Act
1999 was introduced...
Contract Ratification:
Ratification is in law equivalent to previous authority it may be expressed or
it may be affected impliedly by conduct.[1] Section 196 and 197 of the act show
that an act done by person who is not authorized to do it, but who purports to
act as an agent for another person, can retrospectively ratified by such other
person. From this it follows logically, that such an act on the part of the
person purporting to act as agent is not void but voidable. If it is not
ratified it becomes void but if it is ratified it will be validated....
Relevance of Quasi-Contracts:
There are certain situations wherein certain persons are required to perform an
obligation despite the fact that he hasn’t broken any contract nor committed any
tort. For instance, a person is obligated to restore the goods left at his home,
by mistake, and keep it in good condition. Such obligations are called
quasi-contracts...
Choice of law by the parties to the contract:
In this era of globalization where a contract contains one or more foreign
elements, the difficult and complicated question in proceeding that arises is
that of ascertaining its applicable law. Such difficulty stems from the
multiplicity and diversity of connecting factors and each of them may arise in a
different jurisdiction for instance the place where the contract was made; the
place of performance; the place of business of the parties; the place of
payment; the currency of payment; domicile or nationality o the parties and so
on. So to avoid this situation parties are granted with the freedom to select
the law to govern their contract under the provisions of Rome convention. The
inclusion of a choice of law clause is such an everyday matter in international
contracts that its absence would be to ignore commercial realities... |
|
Laws on E-contracts in
India
E-contracts & issues involved in its formation:
With the advancements in computer technology, telecommunication and
information technology the use of computer networks has gained
considerable popularity in the recent past, computer networks serve as
channels between for electronic trading across the globe. By
electronic trading we don’t just mean the use of computer networks to
enter into transaction between two human trading partners by
facilitating a communication but electronic trading or electronic
commerce also means those contracts which are entered between two
legal persons along with the aid of a computer program which acts as
an agent even when it has no conscious of its own but also by
initiating it....
Evidentiary Value Of E-Contracts:
It’s an undisputed fact that E-Commerce has become a part of our daily
life. One such justification for the popularization of E-Commerce
would be immoderate technological advancement. E-Commerce, as the name
suggests, is the practice of buying and selling goods and services
through online consumer services on the internet. The ‘e’ used before
the word ‘commerce’ is a shortened form of ‘electronic’. The
effectiveness of E-Commerce is based on electronically made contracts
known as E-Contracts. Although E-Contracts are legalized by
Information Technology Act but still majority feels insecure while
dealing online. The reason being lack of transparency in the terms &
conditions attached to the contract and the jurisdiction in case of a
dispute that may arise during the pendency of a transaction with an
offshore site
E-Contracts & Its Legality:
E-contract is a contract modeled,
specified, executed and deployed by a software system.
E-contracts are conceptually very similar to traditional
(paper based) commercial contracts. Vendors present their
products, prices and terms to prospective buyers. Buyers
consider their options, negotiate prices and terms (where
possible), place orders and make payments. Then, the
vendors deliver the purchased products. Nevertheless,
because of the ways in which it differs from traditional
commerce, electronic commerce raises some new and
interesting technical and legal challenges. For
recognition of e-contracts following questions are needed
to be considered...
Electronic Contract:
In the traditional notion of contract
formation, negotiating parties must come to a "meeting of
the minds" on the terms of an agreement. In the course of
negotiation, there may be invitations to make offers
(e.g., price lists are generally not offers, but
invitations) and counter-offers, but the general rule is
that formation requires an offer and acceptance to be
communicated between the parties....
|
Contract Law Jurisdiction: Panama:
Under Panama Civil Law the general rule is that all contracts
are consensual, which is to mean that they are perfected by
the mere consent of the parties. Consequently, and except if
expressly established by law that a contract is formal or
real, it must be understood to be consensual, without
prejudice to the liberty granted by law to the parties to give
a consensual contract the character of formal....
Standard Form Contract:
The Law of Standard Form Contracts rests on intuitions of the
common mass. This research paper explores these intuitions and
examines intended consumer behavior on common contracting
contexts. Firstly, the research paper focuses on the need of
Standard Form Contracts and its justification. After the clear
explanation of the term and its use in the practical world,
the focus shifts to the legal issue, as to what are the
problems with the issuance of Standard Form Contracts on a
large scale, and how it can prove to be of exploitative
nature. Further, the paper discusses the basic tendency of the
consumers towards the acceptance of the Standard Form
Contracts, the reasons for such acceptance and how the party
issuing the Standard Form Contract can take advantage of the
consumer’s ignorant behaviour....
Arbitration clause v. Contingent
Contract:
Section 32 and 33 provide for when are such contracts
enforceable. Section 32 says when a contingent contract to do
or not to do anything depends on the happening of an uncertain
future event cannot be enforced by law unless and until that
event has happened and in case the event becomes impossible,
then the contract becomes void. Section 33 provides that if a
contingent contract to do or not to do anything depends on an
uncertain future event not happening, it can be enforced only
when the happening of that event becomes impossible and not
before...
Section 65 of the Indian Contract Act,
1872 with special reference to Discharge of a Contract by
Frustration:
The effects of frustration with special reference to the
restitution of advantages or benefits received by a party, not
entitled to such advantage or benefit. On account of an
agreement being deemed void, subsequent to certain obligations
being fulfilled by either party, there would continue to
subsist, rights to make good the loss caused. Section 65 of
the Indian Contract Act, 1872, states...
Standard form of Contract:
The law of contract has in recent time to face a problem,
which is assuming new dimensions. The problem has arisen out
of the modern large scale and widespread practice of
concluding contracts in standardized form. People upon whom
such exemption clauses or standard form contracts are imposed
hardly have any choice or alternative but to adhere. This
gives a unique opportunity to the giant company to exploit the
weakness of the individual by imposing upon him terms, which
may go to the extent of exempting the company from all
liability under contract. It is necessary and proper that
their interests should be protected. The courts have therefore
devised some rules to protect the interest of such persons....
Underwriting contract at the time of
issue of securities:
Financial services are an important component of the financial
system. They fulfill the needs of financial institutions,
financial markets and financial instruments. The smooth
functioning of a financial system will depend upon the range
of financial services extended by the providers. The services
contribute a lot to the efforts of speeding up the process of
economic growth and development...
Importance of hardship clauses in contract:
The impact of the economic slowdown, witnessed all over the world, on the
commercial contract, both international and domestic, had been enormous. There
have been instances, where one of the parties to the contract had failed to
perform its obligations under the contract because of the sheer enormity of the
consequences of economic slowdown. In most of these cases, it was felt, and
rightly so, by one of the parties that to continue with the obligations under
the contract amidst the current economic scenarios would have been fatal for
them. However, one ought to be sympathetic for them considering the laws
prevailing in our country are inadequate for protecting the interests of the
contracting parties in the event of such hardships....
#
Sec 17 of Indian Registration Act, 1908
#
Art & Expression shalt respect Religious
Sentiments #
Reservation Policy |
Consumer Forum:
