In India, knowing the difference between Contract of indemnity and guarantee contracts is key. Both are important for managing risks and protecting parties in business deals. But they have key differences like who’s involved, what kind of liability, and when defaults happen. Learning about these differences helps us make safer business agreements. Key Takeaways The […]
In our financial dealings, we often come across different agreements. One important one is the contract of guarantee. It involves three main parties: the principal debtor, the creditor, and the surety. The surety acts as a backup, promising to pay if the principal debtor can’t. This contract is based on the Indian Contract Act of
In India, knowing how contracts end is key for everyone involved. Ending a contract means we stop our duties and rights. There are many ways this can happen, like finishing the job, both sides agreeing, or if it’s impossible. Learning about these ways helps us handle ending contracts right. This follows the rules set by
The relationship between a decree holder and a judgement debtor is key in civil law. It’s about following court orders. In India, the Civil Procedure Code (CPC) outlines their roles and rights. A decree holder can enforce a court order, while a judgement debtor is the one it’s against. We will look into what these
Order XXIII of the Code of Civil Procedure, 1908, is key in handling withdrawals and settlements in civil cases in India. It lets parties in civil cases find ways to settle disputes outside of court. This approach helps avoid the long and costly legal battles. It focuses on compromise to make resolving disputes easier and
Indian contract law has a special way of looking at past consideration. It’s different from other legal systems. We’ll dive into how the Indian Contract Act views past consideration. Past consideration is key in understanding contracts in India. We’ll look at the main rules that guide this complex area. This includes how Indian courts see
Wagering agreements are a special kind of contract in Indian law. They involve money bets on future events. This means people agree to pay or receive money based on what happens next. In India, these agreements have complex legal rules. Our guide will help you understand them better. We’ll look at their legal status, key
In the world of civil law, knowing about decree, judgment, and order is key. These terms are deeply connected to the Civil Procedure Code (CPC) of 1908. This code shapes the civil court cases in India. For lawyers, students, and anyone interested in civil law, understanding these terms is important. It helps us see how
It’s important to know the difference between a general lien and a particular lien if you’re involved in property deals. These legal claims are key to securing property rights, mainly in financial matters. A general lien lets a creditor hold onto all the debtor’s property until debts are paid off. On the other hand, a
In today’s job market, knowing about lay offs in labour law is key. Lay offs can affect employee rights and pay, which is important in India. The Industrial Disputes Act of 1947 explains when a layoff happens, like due to material shortages or machine failures. The Industrial Relations Code of 2020 has new rules for