Law of Contract – Capacity to Contract

 CAPACITY TO CONTRACT We already know that the parties to a contract must be competent, that is, they must have the capacity to contract. The question, now, is who is competent to contract? Law states that every person is competent... Read more

Law of Contract – Consideration

 CONSIDERATION Consideration is price of the promise. It is in nature of quid pro quo, that is, something for something. It is the price for which the promise of other is brought and promise thus given for value is enforceable.... Read more

Law of Contract – Communication of Offer, Acceptance & Revocation

 COMMUNICATION OF OFFER, ACCEPTANCE & REVOCATION Communication is an indispensable element in concluding a contract. There must be effective communicationof both ‘offer’ and ‘acceptance’ to give rise to a valid contract. Importance of communication lies in the fact that parties... Read more

Law of Contract – Communication of Offer, Acceptance & Revocation

 COMMUNICATION OF OFFER, ACCEPTANCE & REVOCATION Communication is an indispensable element in concluding a contract. There must be effective communicationof both ‘offer’ and ‘acceptance’ to give rise to a valid contract. Importance of communication lies in the fact that parties... Read more

Law of Contract – Acceptance

  ACCEPTANCE A proposal or offer is said to have been accepted when the person to whom the proposal is made signifies his assent to the said proposal. Act of acceptance lies in signifying one’s assent to the proposal. According... Read more

Law of Contract – Proposal

  PROPOSAL The word ‘proposal’ or‘offer’ meansto give option to someone to agree or deny. In terms of Contracts, a person is said to make a proposal when he signifies to another his willingness to do or abstain from doing... Read more