Understanding the Concept of Agency The relationship between a principal and an agent forms the backbone of commercial and business transactions. In modern business, it […]
Tag: commercial law
24. What are the essential Characteristics of Contract of Guarantee? Distinguish between Indemnity and Guarantee.
Understanding Contract of Guarantee In commercial and personal transactions, lenders, sellers, and businesses often require assurance that obligations will be fulfilled. This assurance is provided […]
7. Explain the Nature of a contract of sale of goods and bring out clearly the distinction between a sale and an agreement to sell.
Foundation of Commercial Transactions In modern commerce, the sale and purchase of goods are fundamental to every business operation, from retail stores to international trade. […]
4. Define “Condition” and “Warranty”. Distinguish between condition and warranties
Foundation of Buyer–Seller Relationship In commercial transactions, especially in the sale of goods, the law provides certain protections to both the buyer and the seller […]
3. Discuss the rule an agent shall not delegate his authority
Understanding the Role of an Agent In the world of business and commerce, agents play a vital role in connecting principals with third parties. The […]
What Are the Rights of the Surety Against the Principal Debtor, Creditor, and Co-Sureties?
Understanding the Concept of Surety and Guarantee The law of contract of guarantee is an important aspect of the Indian Contract Act, 1872, which aims […]
25. Caveat Emptor.
Meaning of Caveat Emptor Caveat Emptor is a Latin term meaning “Let the buyer beware.” Under the Indian Contract Act, 1872, it is a fundamental […]
5. Caveat Emptor
Meaning of Caveat Emptor The principle of Caveat Emptor, meaning “let the buyer beware”, is embodied in Section 16 of the Sale of Goods Act, […]
4. Future goods. not cresting & identified.
Meaning of Future Goods Under the Sale of Goods Act, 1930 (Section 2(6)), future goods are defined as goods to be manufactured, produced, or acquired […]
9. What is a letter of Credit ? Discuss the merits and demerits of letters of credit.
Introduction to Letter of Credit A Letter of Credit (LC) is a document issued by a bank, guaranteeing that a buyer’s payment to a seller […]