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Wednesday, May 29, 2013
CONSIDERATION - Indian Contract Act 1872
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Consideration : Sec.2 (d) – when at the desire of the promisor, the promisee or any other person has done/abstained from doing or promises...
Time of revocation of offer and acceptance: Sec.5
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(i) Revocation of offer - at any time before the communication of acceptance is complete as against the offeror, but not afterwards....
Communication of Offer, acceptance and revocation:
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Mode of communication - by act or omission – must have the effect of communicating such offer, acceptance or revocation – may be communi...
ACCEPTANCE - THE INDIAN CONTRACT ACT, 1872
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Acceptance: Sec.2 (b) - When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted. A ...
OFFER - Indian Contract Act 1872
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Offer - Sec.2(a) – a proposal by one party to another to enter into a legally binding agreement with him – willingness to do or to abstai...
Types of contracts
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1. Void contract – a contract ceases to be enforceable by law, becomes void – originally valid when entered into – by change of law...
THE INDIAN CONTRACT ACT, 1872
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Contract – Sec.2(h) – an agreement enforceable by law – give rise to legal obligation. Social obligation, no contract. Agreement – ...
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