Mercantile Law

In simple words, a contract is an agreement made between,two or more persons to do or to abstain from doing a particular act. According to Section 2(h) of the ...

As a minor he/she is not capable of entering into any contract thus, any agreement by, or with a minor is void ob initio. (Leading case: Mohit vs. Babita ...

The Agency is Irrevocable in the following Cases: If the agency is coupled with interest: When the agency is created for securing some benefit to the ...

Pledge by Mercantile Agent. The law in order to facilitate mercantile transaction has recognized certain exception to the general rule of the owner ...

Duties of the Finder of Goods: According to Section 71 of the Indian Contract Act, a finder of goods has the following duties with respect to the goods ...

Pledge is treated as special kind of bailment in which a movable thing is bailed as security for the repayment of a debt or for the performance of a promise. ...

Lien is the right of any person to retain possession of goods belonging to someone else until the charge due to the person in possession is paid lien. ...

The person taking the loan is called the pledger or pawnor and the person with whom the goods are pledged is called the pledgee or pawnee. Rights of the ...

Duties of Bailor: Duty to Disclose Defects: The bailor is imposed by law, the duty to disclose the defects in the goods bailed. Therefore, the bailor ...

Rights against the Principal Debtor: The surety has the following rights against the principal debtor, namely: Right of Subrogation: It means that on ...

According to Section 124 of the Indian Contract Act, "A contract, by which one party promises to save the other from loss caused to him by the conduct of the ...

Rules Regarding Appropriation of Payment: Appropriation of payment refers to the application of payment to a particular debt. In case where the debtor owes ...

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