Business Laws

Indian Contract Act, 1872 was drafted in order to provide guidelines for the Indian citizens involved in business transactions or legal relationships to come into legally binding agreements. The Act provides detailed documentation on what the terms should be for initiating this type of contract, where they will be legalized, where they will be null […]

The Companies Act, 2013 was introduced to provide an overall framework and a set of rules for companies in India. The Act is comprehensive and inclusive legislation covering all aspects of company operations.  The Companies Act, 2013 has been enacted to promote the economic development and welfare of the country by making it easier for

Introduction The partnership is an important factor in the business world, and the rights of Partners play an important role in partnership business. The mutual relation between people known as partners comes into existence with the help of an agreement among the said partners. The agreement is governed under the Indian Partnership Act 1932. This

Introduction: Indemnity is a term used in the law of contract that refers to the right of a party to recover losses they may incur by another party. The concept is widespread even though there is no legal term to define it. It derives from English Law as well as from Roman Law and civil

According to Section 148 of the Indian Contract Act of 1872, a bailment is a contract wherein one individual gives or delivers the goods to some other individual for some intent. The person who has delivered the goods is known as the Bailor, and the person who has received the goods is known as the

A guarantee contract is a contract that discharges another person’s liability (third party) in a matter of default by that third party. A surety means the party of the contract that gives the guarantee who has to pay the amount when the borrower fails to pay the amount. It means that on default of the

The Indian Partnership Act of 1932 has recommended regulations to control the association amongst the partners. These provisions are implemented if no partnership deed exists or in case of any disputes. The accountabilities and rights of partners are clearly called out in a partnership deed.  The partnership deed defines aspects of partnership management such as

INTRODUCTION : As we all know a Market is a place where buyers and sellers unite to exchange goods and services and facilitate transactions. Buyers can either buy through cash or credit, depending on their agreement with the sellers. Cash transactions are generally rapid and done hand to hand, and there is a very limited

A revocation of the offer is the cessation of a prior proposal to enter into a legally binding deal. The original offer must have been that kind of, and if the other party had formally accepted it, this would have instantly become legally enforceable. The offering party makes Revocation of an offer to lawfully cancel

What Is A Breach Of Contract? Breach of contract is defined as the violation of any terms and conditions that can bind a contract. There can be different reasons for breach such as late payments, a serious violation of any law or failure to deliver a particular asset.  If two parties are involved in a