Types of Guarantees in Contract Law
moulik Introduction In contract law, a guarantee is a commitment to fulfil the obligations of another party if that party fails to do so. Understanding the different types of guarantees can…
contract act 1872
Contract of Guarantee | A Comprehensive Guide
Introduction When it comes to financial transactions, understanding the intricacies of a contract of guarantee can save you from potential pitfalls. In this guide, we’ll delve into the essentials of…
Difference Between Indemnity and Guarantee
Introduction Indemnity and guarantee are two distinct legal concepts often confused due to their overlapping features. However, understanding their differences is crucial for applying the correct legal principles in various…
Rights of the Indemnity Holder
Introduction The indemnity holder in a contract of indemnity enjoys several rights designed to offer protection against potential losses. These rights ensure that the indemnity holder receives adequate compensation and…
Rights of Indemnifier in Indian Contract
Introduction In indemnity contracts, the indemnifier assumes responsibility for compensating the indemnity holder for specified losses. While the Indian Contract Act doesn’t explicitly outline the indemnifier’s rights, judicial interpretations offer…
Meaning and Nature of Indemnity
Introduction A contract of indemnity is a fundamental concept in law, providing a safeguard against potential losses or damages. This article delves into the meaning and nature of indemnity, examining…
Remedies for Breach of Contract
Introduction The wronged party isn’t left without recourse when a contract is breached. Various remedies are available to address the situation and seek justice. Here’s a straightforward guide to the…
Quasi Contract in Indian Law
Introduction Most people are familiar with express contracts in contract law, where terms and agreements are clearly stated. However, quasi contracts are an equally important yet less understood aspect of…
Doctrine of Frustration
Introduction In contract law, parties generally aim to fulfil their contractual obligations, and any breach typically results in liability for the breaching party. However, an exception to this rule is…
Discharge of Contract in Indian Law
Introduction The discharge of a contract refers to the termination of legal obligations between parties, as stipulated in the Indian Contract Act, of 1872. Understanding the various modes of discharge…