Meaning of Unascertained Goods Under the Sale of Goods Act, 1930, goods are classified into specific and unascertained goods. According to Section 2(14), unascertained goods […]
Category: LLB 2nd Sem LAW OF CONTRACT – II [Short Answers]
47. Agency by Ratification
Meaning of Agency by Ratification Agency by Ratification arises when a person, known as the agent, acts on behalf of another person (the principal) without […]
46. General Lien
Meaning of General Lien A General Lien is a right recognized under the Indian Contract Act, 1872, which allows certain categories of persons to retain […]
45. Gratuitous Bailment
Meaning of Gratuitous Bailment A Gratuitous Bailment is a type of bailment defined under the Indian Contract Act, 1872 where goods are delivered by the […]
44. Surety as a favored Debtor
Meaning of Surety as a Favored Debtor A surety is considered a favored debtor under the Indian Contract Act, 1872, particularly Section 141. This principle […]
43. Pledge.
Meaning of Pledge A Pledge is defined under Section 172 of the Indian Contract Act, 1872 as a bailment of goods as security for payment […]
42. Termination of Agency.
Meaning and Legal Provisions The concept of Termination of Agency is governed by the Indian Contract Act, 1872 under Sections 201 to 210. An agency […]
41. Consequences of Non Registration of a Firm
Meaning and Legal Provision Under the Indian Partnership Act, 1932, the registration of a partnership firm is not compulsory, but Section 69 clearly provides the […]
40. Sub Agent
Meaning of Sub-Agent A Sub-Agent is defined under Section 191 of the Indian Contract Act, 1872. A sub-agent is a person employed by an agent, […]
39. Mercantile Agent.
Definition of Mercantile Agent A Mercantile Agent is defined under Section 2(9) of the Indian Sale of Goods Act, 1930. It refers to an agent […]