In India, the agent and principal share a relationship that is contractual in nature, and therefore it is governed by the terms and conditions of the contract between them. In agency contracts,...

Issue at Hand When it comes to Contact of Indemnity, absence of liablity on part of Principal Debtor is immaterial and it is the indemnifier whose obligation lies therein, of primary nature. O...

Buying or selling something carries a certain amount of danger, particularly if you're unfamiliar with the company you're dealing with. Even if you have reliable business partners, unexpected e...

Sometimes a promise to pay bonus for extra labour is not enforceable in court[1] and sometimes even a peppercorn is enough consideration to hold a contract valid[2] - such is the eccentric natu...

Facts of the case In this case the plaintiff, Mrs. Balfour, sued the defendant, Mr.Balfour, her husband for money due under an alleged verbal agreement, whereby he undertook to allow her 30...

The Indian Contract Act, 1872 is one of the oldest laws that have been in effect for the longest and are still in use in India, the purpose of this act is to govern the contractual relationship...

It is a contract to perform the promise or discharge the liability of a third person in case of his default. The guarantee is given by the surety to the creditor in respect of the principal deb...

Generally speaking, standard contracts are imbibed with the common 'take it or leave it' clauses. In such situations, the other party has almost no power to negotiate the terms laid down in the...

Section 182 of ICA defines Agency- A contractual relationship between an Agent and a Principal where the powers are vested with the agent to act in a manner to establish the contractual relatio...

The Indian Contract Act, 1872 proclaims under section 37 that: The parties to a contract must either perform, or offer to perform, their respective promises, unless such performance is dispens...