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

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

Rights and Duties of Buyer and Seller

Rights and Duties of Buyer and Seller

Rights and Duties of Buyer and Seller in a Contract of Sale: There are certain terms and conditions in a contract without which no contract can be executed. These terms and conditions may include time, place of delivery of goods etc. Basically, these terms and conditions are the rights and duties of the parties(buyer and … Read more

Who is Unpaid Seller and his Rights

Unpaid Seller: Under the Sale of Goods Act,1930, it is essential that in the contract of sale, the seller when sells his property or goods the seller becomes entitled to be paid consideration as agreed. Sometimes it may happen that a transaction of Sale has taken place but the buyer without any valid reason refuses … Read more