Meaning of Hire Purchase Agreement A Hire Purchase Agreement (HPA) is a contract in which the owner of goods (the seller) allows another person (the […]
Tag: Lawgnan
10. Surety.
Meaning of Surety A surety is a person who promises to the creditor to fulfill the debt or obligation of another (the principal debtor) in […]
9. Pledge by non-owner.
Meaning of Pledge by Non-Owner Normally, only the owner of goods has the right to create a valid pledge. However, under certain circumstances, even a […]
7. Dissolution of Partnership
Meaning of Dissolution of Partnership Under the Indian Partnership Act, 1932, Section 39 defines dissolution of partnership as the termination of the relationship among partners […]
6. Dormant Partner
Meaning of Dormant Partner A Dormant Partner, also called a Sleeping Partner, is one who invests capital in the firm but does not take part […]
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 […]
3. Pledge. Ackons Outing tar Cornmonobieft
Pledge – Definition and Nature A Pledge is defined under Section 172 of the Indian Contract Act, 1872 as the bailment of goods as security […]
2. Kinds of Guarantee.
Kinds of Guarantee Under the Indian Contract Act, 1872, particularly Sections 126–147, a contract of guarantee is an agreement to perform the promise or discharge […]
1. Rights of Indemnity Holder.
Rights of Indemnity Holder The concept of indemnity is covered under Sections 124 and 125 of the Indian Contract Act, 1872. Section 124 defines a […]