Agent-Principal Relationship in Contract Law- An Overview

Agent Principal Relationship in Contract Law- An Overview The principal-agent relationship arises in various instances, some of these lead to the formation of contracts. Section 182 -238 of the Indian Contracts Act[1] (Hereinafter, the Act) deals with the laws relating to Agency. To understand the concept of Agency, we need to understand the meaning ofContinue reading “Agent-Principal Relationship in Contract Law- An Overview”

Contractual Clauses – Force Majeure

Force majeure is defined in the Black’s Law Dictionary as “an event or effect that can be neither anticipated nor controlled.” It is a contractual provision allocating the risk of loss if performance becomes impossible or impracticable, especially as a result of an event that the parties could not have anticipated or controlled.[1] These areContinue reading “Contractual Clauses – Force Majeure”

New Zealand Shipping Co vs A.M. Satterwaite: A Comment on the Doctrine of Privity

New Zealand Shipping Co vs A.M. Satterwaite (The Eurymedon) is a 1974 case. It’s a leading contractual law case focusing on the concept of the third party to a contract, specifically examining the conditions under which a third party may seek the benefits of an exclusion clause. In it, the Eurymedon is delivered to Liverpool.Continue reading “New Zealand Shipping Co vs A.M. Satterwaite: A Comment on the Doctrine of Privity”

Understanding Section 56 of the Indian Contract Act, 1872

People all over the world undertake contractual obligations by entering into contracts for doing or abstaining from doing an act. When a proposal from one side is accepted by the other, forming consideration for each other, an agreement is set up. A contract is an agreement which is enforced by law.[1] The conditions of enforceabilityContinue reading “Understanding Section 56 of the Indian Contract Act, 1872”

COVID-19: Impact on Commercial Contracts

Executive Summary Coronavirus is amongst the foremost causes for concern in present times has caused a lot of destruction to mankind. Commercial contracts have become frustrated and impossible to perform due to the pandemic. The parties obliged to perform their duty are afraid of the consequences followed by delinquency. This article talks about concepts likeContinue reading “COVID-19: Impact on Commercial Contracts”

COVID-19: Force Majeure and Its Impact on Performance of Contract

We are all aware of the ongoing Pandemic (COVID-19), which has adversely affected human lives across the globe. To prevent its further spread, many countries, including India, have taken various precautionary measures. One such measure is ‘Lockdown’ wherein all economic and business activities are kept on hold for a temporary period. However, it may continueContinue reading “COVID-19: Force Majeure and Its Impact on Performance of Contract”

Case Comment – Harshad J. Shah v. LIC of India

In the case of Harshad J. Shah v. LIC of India[1], the Supreme Court dealt very closely with the issue of apparent/ostensible authority of an agent. While considering the question whether an LIC agent carried the apparent authority to collect premium cheques from policy-bearers, the Court examined the LIC of India (Agents) Regulations, 1972 andContinue reading “Case Comment – Harshad J. Shah v. LIC of India”

E-Contracts: The Changing Face of Traditional Contracts

The world is on our fingertips today because of the internet. We send thousands of messages and e-mails across the globe. This is a digital era, so traditional contracts won’t suffice. Rather, now-a-days e-contracts are coming into major play. We enter into many contracts knowingly or unknowingly. The sender sends them and the receiver agreesContinue reading “E-Contracts: The Changing Face of Traditional Contracts”

Introduction to the Law of Partnership

The Indian Partnership Act, 1932 governs the law relating to partnership in India. Section 4 of the Act carries the definition of a partnership, which is as follows, “the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.[1]” Before the enactmentContinue reading “Introduction to the Law of Partnership”

Suits by/Against Firms and Persons Carrying on Business in Names Other Than Their Own (ORDER XXX)

Order 30 prescribes the procedure in which the suits by or against Firms and persons carrying on business in names other than their own, and Rule 1 of the said Order, which has been quoted above, permits any two or more persons claiming or being liable as partners and carrying on business to sue andContinue reading “Suits by/Against Firms and Persons Carrying on Business in Names Other Than Their Own (ORDER XXX)”