How is a Precedent disregarded? A precedent may be disregarded in any one of the following two ways: 1). It may be overruled by a court of superior jurisdiction. In such an eventuality the precedent loses all its force with retrospective effect so that transactions entered into before the date of overruling shall be affected as much as the transaction
Contract of Indemnity and Guarantee: A contract of indemnity is a contract that is made to protect the promisee from anticipated loss. This contract depends upon a loss. Whereas a Guarantee is made to enable a person to get a loan or goods on credits or employment. It may be oral or expressed. Indemnity Meaning: Indemnity means a promise to
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. These terms and conditions are the rights and duties of the parties(buyer and seller) to the contract which has
Sale and Agreement to Sell: There is little difference between a Sale and an agreement to sell. The sale is a transaction in which one person transfers his ownership concerning certain goods and thereafter simultaneously delivers the goods to another person, in response to which the person to whom the goods are transferred, pays consideration to the owner of the
Unpaid Seller Under the Sale of Goods Act 1930: Under the Sale of Goods Act 1930, it is essential that in the contract of sale, the seller when selling 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
Contract in Contract Act, 1872: A Contract is an exchange of promises by two or more persons resulting in an obligation to do or refrain from doing a particular act, which obligation is recognized and enforced by law. Meaning of Contract: According to Black’s Law Dictionary: Contract means an agreement between two or more parties creating obligations that are enforceable
Introduction to the 1962 Constitution of Pakistan: The 1956 Constitution was abrogated by Muhammad Ayub Khan and Martial Law was enforced in the country in 1958. Muhammad Ayub Khan became the head of the state. In the 1956 Constitution, a Parliamentary form of Government was introduced. As a new constitution was required to run the country, the 1962 Constitution came
Introduction to Nusrat Bhutto Case: The judiciary plays a very important role in the interpretation of statutes and laws. The judiciary has a pivotal role in the development of law. It develops law by giving judgments that become precedents. So, precedents may be regarded as a source of law. In Pakistan too, the superior courts gave judgments that became precedents.