Discharge Of Contract

discharge of contract

In a contract, there are certain rights and obligations on the parties to the contract. When these rights and obligations came to an end, it is known as the discharge of contract or the contract is terminated. Related Post: Contract of Agency and its Essentials Related Post: Contract of Bailment Relevant Provisions: Section 37, 38, … Read more

Definition of Contract of Agency and Its Essentials

Contract of agency and its essentials

Contract of Agency and Its Essentials: Contract of Agency is a two-party relationship in which one person acts as representative to the other in business dealing in order to create contractual relations between that other and third person. An agency may be created to perform any act which the creator of the agency himself could … Read more

Consideration – Meaning, Definition and Essentials

consideration definition, meaning and essentials

Something is returning is meant consideration. Consideration definition and includes some right, interest, profit or benefit accruing to one party and some forbearance, detrainment, loss or responsibility given, suffered or undertaken by the other. Relevant Provisions: Section 2(d), 23, 24, 25, 127 and 185 of the Contract Act, 1872. Meanings of Consideration: Consideration means, “Something … Read more