Post by: Femi Jebrina in Legal MCA
Contract of Agency Contract of the agency is a legal relationship, where one person appoints another to perform on the transactions on his behalf. The person who appoints the other to take care of his transactions is the principal. Whereas,…
Post by: Femi Jebrina in Legal MCA
Contract of Bailment and Pledge The contract of bailment and pledge are the special contracts under the Indian Contract Act, 1872. Though bailment and pledge act as contracts, it serves two different purposes. The contract of bailment is the delivery of…
Post by: Femi Jebrina in Legal MCA
Contract of Indemnity and Guarantee The contract of indemnity and the contract of the guarantee are the special contracts under the Indian Contract Act, 1872. The contract of indemnity is the contract where one person compensates for the loss of…
Post by: Femi Jebrina in MCA
Capacity to Contract Capacity to contract means the competency to enter into a valid contract legally. The capacity to contract binds the parties of the contract with a promise to oblige by it. But only certain persons have the competency…
Post by: Femi Jebrina in Legal
Breach of Contract A breach of contract occurs when one of the parties of the contract do not abide by the terms of the contract. The breach in a contract happens even when there is a failure in the performance…
Post by: Femi Jebrina in MCA
Discharge of Contract The discharge of the contract takes place when the obligations of the contract between the parties of the contract come to an end. This also ends the legal validity of the contract. The discharge of the contract…
Post by: Bennisha in Agriculture
Contract Farming Contract farming is defined as an agricultural production that is carried out based on an agreement between buyer and farmer, with established conditions for production and marketing of farm products. In simple words, contract farming refers to a…
Post by: Renu Suresh in MCA News
Requirements for a Valid Contract A valid contract is an agreement, which is binding and enforceable. In a valid contract, all the parties are legally bound to perform the contract. The Indian Contract Act, 1872 defines and lists the essentials…
Post by: Sreeram Viswanath in Compliance
Essentials of a Valid Offer A contract is initiated by an offer or proposal. For this purpose, when a contract is formed between two or more parties, the person making the offer is known as the promisor and the person…
Post by: IndiaFilings in Compliance Government Initiatives
What is Works Contract A contract issued to carry out construction, installation, erection repair, renovation, maintenance, alteration of any movable or immovable property and sale of goods is called works contract. Works contract thus involves providing of a taxable service and…
