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Laws of Business

Types of Damages in Contract Law. Erroneous belief about something or having wrong opinion about something is called mistake. While entering into Contract parties think that a particular thing with regard to their Contract is in a particular way. But that particular thing will not be in that way as they think. Mistakes in contract law are of two types, namely;. Out of them agreement in restraint of trade is one. Incapacity in Contract Act. Subscribe to: Posts (Atom). Features of a Valid Contract.

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Types of Damages in Contract Law. Erroneous belief about something or having wrong opinion about something is called mistake. While entering into Contract parties think that a particular thing with regard to their Contract is in a particular way. But that particular thing will not be in that way as they think. Mistakes in contract law are of two types, namely;. Out of them agreement in restraint of trade is one. Incapacity in Contract Act. Subscribe to: Posts (Atom). Features of a Valid Contract.

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Types of Damages in Contract Law. Erroneous belief about something or having wrong opinion about something is called mistake. While entering into Contract parties think that a particular thing with regard to their Contract is in a particular way. But that particular thing will not be in that way as they think. Mistakes in contract law are of two types, namely;. Out of them agreement in restraint of trade is one. Incapacity in Contract Act. Subscribe to: Posts (Atom). Features of a Valid Contract.

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lawsofbusiness.com

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Laws of Business: Types of Damages in Contract Law

http://www.lawsofbusiness.com/2013/08/types-of-damages.html

Types of Damages in Contract Law. The loss arising out of breach of Contract Can be divided into two parts, namely direct loss and indirect loss. If only direct loss is compensated it is called general damages. In case where indirect loss also is Compensated besides loss, it is called Specific Damages. To get specific damages, concerned special situation must be communicated. Breach of marriage agreements and. Wrongful dishonor of Cheque by banker. Subscribe to: Post Comments (Atom). Termination of Agenc...

2

Laws of Business: Essentials of Consideration

http://www.lawsofbusiness.com/2013/08/essentials-of-consideration.html

Presence of consideration is one of the requisites of Valid Contract. Consideration must be of two directional nature. That means both parties should get benefited mutually. Then only the Contract becomes capable of creating legal relations. Consideration may be in the form of cash, goods, act or Abstinence. Consideration should be passed at the request of offerer:. Consideration may move from promise or any other person:. Consideration may be Past, Present or Future:. Consideration need not be adequate:.

3

Laws of Business: Offer in Contract

http://www.lawsofbusiness.com/2013/08/offer-in-contract.html

Offer is one of the components of agreement. It`s status is equal to that of question. Offer is otherwise known as proposal. The person who is making the offer is called offerer or promissory or proposer. When a person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the ascent of that other to such act or abstinence he is said to make a proposal. - Section 2 (a) of Indian Contract act. Offer may be General or Specific:. Offer must be Communicated:.

4

Laws of Business: Types of Contracts

http://www.lawsofbusiness.com/2013/08/types-of-contracts.html

In connection with contracts, there are four types of classifications. Types of contracts in contract law are as follows;. On the basis of Formation,. On the basis of Nature of Consideration,. On the basis of Execution and. On the basis of Validity. Types of Contracts on the basis of Formation. On this base Contracts can be classified into three groups, namely Express, Implied, Quasi Contracts. Sec 68: When necessaries are supplied. Sec 69: When expenses of one person are paid by another person. On this ...

5

Laws of Business: Incapacity in Contract Act

http://www.lawsofbusiness.com/2013/08/incapacity-in-contract-act.html

Incapacity in Contract Act. Lack of eligibility to enter into Contract is called Incapacity. Incapacity arises due to the following;. Incapacity on account of Status. According to Indian law, Indian citizens can enter into contracts with foreign rulers. If that foreign ruler breaches the Contract and Indian citizen wants to file a suit, permission from Central Government is required. Aliens are foreign people who have obtained citizenship in one Country (other than their own) in accordance with the Const...

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Types of Damages in Contract Law. Erroneous belief about something or having wrong opinion about something is called mistake. While entering into Contract parties think that a particular thing with regard to their Contract is in a particular way. But that particular thing will not be in that way as they think. Mistakes in contract law are of two types, namely;. Out of them agreement in restraint of trade is one. Incapacity in Contract Act. Subscribe to: Posts (Atom). Features of a Valid Contract.

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