Case Note: Lalman Shukla v. Gauri Dutt
Revisit the most popular and primal cases that mark the field of contract law in India, Lalman Shukla v. Gauri Dutt. Neha Mohanty in a short case note lays out the important details of the case and the relevant sections of the Indian Contract Act.
IBC Suspension: Too Much To Chew On For The Banks?
By: Pratyush Hari Introduction COVID-19 and the resulting lockdown has rendered businesses unable to carry on operations and make good on their debt repayment obligations.
A Critical Analysis Of The Usage Of May Not In Section 12 Of Contracts Act, 1872
By: Richard Shane Hammish TNNLU INTRODUCTION: The usage of the terms may and shall in statutory provisions have always caused ambiguity in the statutes of
Contracts and Quasi Contracts
By Vikesh Kumar, Dr. Ram Manohar Lohiya National Law University, Lucknow Editor’s note: Contracts are promises that the law will enforce. In case of contract,
The Impact Of Foreign Direct Investment In The Retail Sector
Sankalp Shanker Srivastav Editor’s Note: India is witnessing strong growth prospects in organized retailing with foreign retail players willing to make investment in the sub continent.
Review Of The Doctrine Of Agency By Necessity
Sankalp Shanker Srivastava Introduction- The Principle The origin of the principle of the Doctrine of Agency of Necessity rests in the idea where an agent
The Measurement and Management of risks in Banks
By Shraddha Singh, Symbiosis Noida Editor’s Note: The objective of the research study is to analyse and examine the solutions of risk management preferred by banks.
Issue Of Securities At Premium
By Siddharth Dalabehera Introduction The term ‘Securities’ under Section 2(81) of the Companies Act, 2013 has been defined to mean ‘securities’ as defined in Clause
Agreements In Restraint Of Marriage
By Souradeep Mukhopadhyaya AGREEMENTS IN RESTRAINT OF MARRIAGE: POSITION IN ENGLISH LAW: Under English Law, agreements which restrain marriage are discouraged as they are injurious
Anti-Money Laundering Laws
The goal of a large number of criminal acts is to generate profits for the individual or the group that carries out the act. Money laundering is the processing of these criminal proceeds to disguise their illegal origin. This process is of critical importance, as it enables the criminal to enjoy these profits without jeopardising their source. In this paper, the author has discussed the various stages, trends, developments and the law relating to this subject.
Mohori Bibee v. Dharmodas Ghose
In this submission, the author has discussed in detail the Mohori Bibee case wherein, for the first time in 1903, the Privy Council declared that the minor’s contract was void and not merely voidable. The Privy Council reached this conclusion on the basis of various Sections of the Indian Contract Act which have also been elaborated in this paper to define the nature of a minor’s agreement.
Price sensitive information
By Tanvi Praveen, Symbiosis Law School, Noida Editor’s note: Knowledge is said to be power. Nowhere does this hold truer than in the case of
The Role of Bank as Trustee
By Sumit Kumar Suman, CNLU Introduction The relationship of banker and customer is not something which is static but is a relationship which on many
Marine Insurance Policy
By Saksham Dwivedi, CNLU Introduction & Historical Development Marine Insurance is not of recent origin. Its existence can be traced back to several centuries. Questions
Influence of Age on Buyer Behaviour
By Yashu Bansal, Chanakya National Law University, Patna “Editor’s Note: The present study analyses the effect of age on the behaviour of consumers. It discusses what
Performance Appraisal
By Yashu Bansal, Chanakya National Law University, Delhi “Editor’s Note:This paper discusses the concept of performance appraisal. Performance Appraisal is a structured method of evaluating an employee’s performance
Dishonour of Cheques: Director’s Liability in case of Dishonour
Cheques are a type of bill of exchange and were developed as a way of making payments without the need to carry large amounts of money. A dishonoured cheque cannot be redeemed for its value and is worthless; they are also known as an RDI (returned deposit item), or NSF (non-sufficient funds) cheque. Cheques are usually dishonoured because the drawer’s account has been frozen or limited, or because there are insufficient funds in the drawer’s account when the cheque was redeemed. A cheque drawn on an account with insufficient funds is said to have bounced and may be called a rubber cheque. Banks typically charge customers for issuing a dishonoured cheque, and in some jurisdictions such an act is a criminal action. A drawer may also issue a stop on a cheque, instructing the financial institution not to honour a particular cheque
Doctrine of Fundamental Breach: The CISG and The UCC
The doctrine of fundamental breach is chiefly predicated on the facts or assumption that a party to a contract or contract of sale has committed a misnomer in the contract that goes to the root of the contract, thereby knocking the bottom off its commercial relevance. The prerequisites which must be fulfilled before a buyer may avoid a contract under the CISG are very different from those which must be fulfilled to reject under the UCC. Moreover, case law interpreting the doctrine has only added to the ambiguity, thus making it nearly impossible for any interpreter to confidently answer the seemingly basic question of whether a contract for the international sale of goods has been fundamentally breached. It seems as though the goal of contract preservation has outweighed the desire for any bright line rules and maybe rightly so when considering the international context in which these cases are decided.
Contract of Adhesion and Doctrine of Fundamental Breach
The nature of the contracts changes with the developments in business environments. Most contracts entered into by ordinary people today are not in fact the result of individual negotiations. Even insurance contracts are similar to such contracts of adhesion since one party holds a stronger bargaining position in the contract and this is usually the drafting party, whereas the other party holds a weaker position and this is usually the accepting party. The existing provisions of the the Indian Contract Act show that the legal control is not quite adequate to come to the rescue of the weaker party against adhesion contracts and to meet the needs of the changing times.
