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, both the parties are legally bound by the promise entered into. Quasi contracts are certain relations resembling those created by contracts. In a transaction in […]
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.
Anurag Pandey NALSAR University of Law “Editor’s Note: The paper is on the differences between an Act of God and the concept of Force Majeure. The author defines both terms with reference to case laws and traces their origins along with an analysis of various case laws.” INTRODUCTION This project […]
by Soumik Chakraborty Editor’s Note: The notion of a legally sanctioned corporation remains controversial for several reasons, most of which stem from the granting of corporations both limited liability on the part of its members and the status and rights of a legal person. The nexus of contracts theory is an idea put forth […]
Soumik Chakraborty Editor’s Note: Today’s commercial actors use sophisticated systems weighing relevant factors such as storage costs, placement of production facilities and transportation expenses against each other in order to generate highest possible profit. This also necessitates the putting in place of legal framework capable of addressing the various issues. […]