Ikyan Law

Remedies of breach of contract 1) Introduction:  Breach of Contract" is a term used to describe a situation where one party fails to meet their obligations as specified in a contract. This failure can take various forms, such as not delivering go…

Appropriation of payment Introduction When a debtor takes several loans from the creditor and returns the payment which is less than the whole amount then the question arises which is known as appropriation of payment. When once made, the appropriat…

What do you understand by capacity of contract Introduction Under contract act 1872 parties must be competent to contract. Everyone is not competent to enter into the contract unless he fulfills the conditions laid down in the contract act. A contra…

What is consideration? Explain its exceptions. Introduction The meaning of consideration in the legal sense is “ something in return”. Simply it can be said that exchange of something against another thing. Contract without consideration is not enfo…

Define Agency. Duties and rights of agents. Introduction Such a source which creates a relationship between principal and an agent is called agency. And the principal grants authority to the agent and the agent acts on the behalf of the principal. Bot…

What is the contract of bailment? Rights and duties of the bailee and revocation of contract of bailment. Introduction Bailment is a process when the owner of the certain goods delivers possession of his personal property to another person under an ag…

Various modes in which a contract may be discharged Introduction The discharge of a contract means that when the rights & obligations of the contract come to an end. When discharge occurs, all duties attached with a contract are detached. Discharg…

What is consent and free consent? When consent is said to be free? Introduction Consent is a very important essential of the contract because without the consent of parties there is no valid contract. When consent is be taken by coercion, undue infl…

Difference between voidable and void contract 1) Introduction Law of contract 1872 provides the rules for commercial transactions. It is a very important branch of mercantile law. A contract is a legal arrangement between two or more parties that is…

What is a void contract?  What contracts are specifically declared void contracts under the contract act 1872. Introduction The word void means “not binding in law”. A contract which cannot be enforced by any party is void. It cannot create a legal re…

What are the essentials of a valid contract? Discuss them briefly 1) Introduction Law of contract 1872 provides the rules for commercial transactions. It is a very important branch of mercantile law. A contract is a legal arrangement between two or …