Legal Rules and Conditions for Acceptance
· Acceptance must be absolute and unqualified The offeree’s approval cannot be conditional.For example, ‘A’ wants to sell her car to ‘B’ for Rs 2 lakh, ‘B’ can’t come back and says…
Types of Acceptance
· Expressed Acceptance If the acceptance is written or oral, it becomes an Expressed Acceptance. Example ‘A’ offers to sell his phone to ‘B’ over an email. ‘B’ respond to that…
Difference between General Offer and Specific Offer
General Offer Specific OfferGeneral Offer is made to the whole world at large.A specific Offer is made to some specific person.A general offer…
Offer and Acceptance Under Indian Contract Act, 1872
Contracts play an important role in our everyday life ranging from insurance policies to employment contracts. In Fact, we enter into contracts even without thinking, for example, while buying a…
Contingent Contract
Basing on the presence or absence of Conditions, Contracts can be classified into two groups namely; Absolute Contracts and Contingent Contracts. In case where there is no condition, it is…
Stranger to Contract
Stranger to Contract cannot sue upon the Contract - Stranger to Contract means a person who is not a party to the Contract. He is neither offerer nor offeree. That…
Essentials of Consideration
Presence of consideration is one of the requisites of Valid Contract. Consideration must be of two directional nature. That means both parties should get benefited mutually. Then only the Contract…
Consideration in Contract
No Consideration, No Contract To attain Validity and to create legal relations, the Contract should be with two directional consideration. In the absence of two directional consideration, it can be…
The difference between an agreement and a contract
The terms “agreement” and “contract” are used interchangeably, but legally speaking, they are two different things. An agreement is simply an understanding or arrangement between two or more parties. A…
Revocation of Offer
Indian Contract Act provides for revocation of the offer. The offer can be revoked as per section 5 of the Indian Contract Act. The offeror can revoke the offer any…
