When acceptance converts a proposal into promise

Acceptance must be absolute In order to convert a proposal into a promise, the acceptance must-- 1. be absolute and unqualified 2...

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When and how a proposal may be revoked

1. Proposal When one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the as...

11:55:00

Concept and Scope of Contract

Contract An agreement enforceable by law is a contract; Section 2(h) (a) Definition To constitute an agreement, it was necessary th...

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Concept of consideration as expounded by the Contract Act

Consideration When, at the desire of the promisor the promisee or any other person who has done or abstained from doing, or does or absta...

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Proposal, Promise and Agreement

1. Proposal When one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the as...

02:43:00

Consequences of Agent's Contract

Enforcement and consequences of agent's contracts Contracts entered into through an agent and obligations arising from acts done by a...

08:32:00

Liabilities of Principal to the Agent

Agent to the indemnified against consequences of lawful acts The employer of an agent is bound to indemnity him against the consequences ...

08:26:00

Effect of novation of Contract

Effect of novation, rescission and alteration of contract . If the parties to a contract agree to substitute a new contract for it, or to...

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