Business and Industrial Law

A contract without consideration is void ab initio. There must, therefore, be consideration. But, it need not necessarily be equal in value to the promise of ...

Consideration One of the essential elements of a valid contract is that it must be supported by some consideration. The term consideration is used in the ...

Adequacy of Consideration need not be adequate, but must have some value, however slight. It is up to the parties to fix their own prices. For example, where ...

Agreements in Restraint of Trade (Section 27):  Section 27 provides that every agreement by which anyone is restrained from exercising a lawful ...

A promise without consideration cannot create a legal obligation. The general rule is that an agreement made without consideration is void. This rule is ...

Void Agreement:  An agreement not enforceable by law is said to be void’ . Thus a void agreement does not give rise to any legal sub-sequences and is ...

Contract: Section 2 (h) of the Indian Contract Act, 1872 defines a contract as an agreement enforceable by law. In other words, an agreement which can be ...

Void and Illegal agreement Void Agreement:  According to Section 2 (g), An agreement not enforceable by law is said to be void” such agreements are ...

An offer is made with a view to obtain the assent of the other party to it. If it is accepted, a valid agreement is made, But before being accepted the offer ...

The communication of offer and acceptance must be complete so as to bind the concerned parties because as soon as the communication is complete the parties ...

The word ‘proposal’ and ‘offer’ are synonymous and are used inter changeably. Section 2 (a) of the Indian Contract Act, 1872 defines proposal or ...

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