Discharge of Contract by Agreement or Mutual Consent

What is “Discharge of Contract by Agreement”? The fundamental rule of law says that a thing can be brought to an end or destroyed in the same manner in which it was constituted. By applying this principle, an agreement or a contractual obligation can also be terminated by executing another agreement which may either be…

Revocation of Continuing Guarantee and its Ways

Revocation of Continuing Guarantee: Continuing guarantees are widely utilized in commercial transactions. Because of this guarantee, it is easier for a debtor to obtain goods on credit even if he does not have the money available. In this blog, we have discussed the meaning of a contract of continuing guarantee and how and when can…

Unenforceable Contracts: Common Causes for them

Enforceable and unenforceable contracts: A contract can be either enforceable or unenforceable. An enforceable contract can be described as one against which a legal remedy would be available if the contract is not fulfilled. This means that the parties thereto can take legal recourse in case there is a breach of contract. On the other…

A Guide to Interpretation of Non-obstante clause

Meaning of non-obstante clause (“Notwithstanding anything contained”) Notwithstanding means despite; in spite of; without being opposed or impeded by; nevertheless; however, regardless of. A “non-obstante” provision is a provision in a statute that begins with the words ‘Notwithstanding anything contained’ and is often used in a statute to give an overriding effect to a particular…

What are the Duties of a Bailee under a Bailment Contract?

Section 148 of the Indian Contract Act says that bailment is the delivery of goods from one person to another for some specific purpose under a contract. Under such contract, when the desired purpose is accomplished, the goods shall be returned or shall be disposed of following the directions of the person who delivers them.…

Discharge by Operation of law and by Lapse of time

It is well known that a valid contract puts certain obligations on the contracting parties and they are liable to fulfill these promises. When these promises are performed, the contract is said to be discharged. Thus, discharge of a contract means that the parties are no more liable under the contract and their rights and…

The Doctrine of Frustration of Contract and its Features

Meaning of Doctrine of Frustration of contract: Whenever a contract is entered, it is always assumed that the parties shall perform their obligations in good faith. Nevertheless, certain events may take place which hinder the performance of a contract and they are beyond the control of parties. When such events occur which make the performance…