Liquidated Damages

The Indian Contract Act,1872 is a statute which governs the law of contract in India, its enforcement, various provisions regarding non-payment and breach. Damages can be of two types one is Liquidated damages, and another one is unliquidated damages. In case of breach of contract, the party who is injured by the breach can bring […]

What are the Remedies for Breach of Contract?

Remedies for Breach of Contract When one of the parties to the contract makes a breach of contract, then the other party has the following remedies available for Breach of Contract- a) Damages b) Quantum Meruit c) Specific Performance d) Injunction e) Rescind the contract and refuse further performance of the same.   Damages The […]

Frustration of Contract

When a contract is entered into between two parties, specific duties and rights arise between those two parties. The frustration of contract is a scenario whereby some unforeseen events happens after the contract is entered into, which make the performance of the contract impossible. Such a situation is known as the frustration of the contract. […]

Section 185 of the Companies Act, 2013

Through the Companies (Amendment) Act, 2017 the existing Section 185 of the Companies Act 2013, the old Section 295 of the Companies Act, 1956, Section 86 D of the Indian Companies Act, 1913 and Section190 of the English Companies Act, 1948 which provides for loans to directors have been replaced. The substituted Section 185 deals […]

An Overview To Indian Contract Act 1872

The Law of Contract is a very important part of the mercantile or commercial law in India. It mostly affects people from trade and commerce and industry. Introduction To Indian Contract Act, 1872 The Indian Contract Act, 1872 is the law which governs contracts in India. It entered into force in the year 1872. It […]

New Rules for bounced cheque cases in online banking era

Introduction To Negotiable Instrument A negotiable instrument is a transferable signed document that promises to pay the bearer a sum of money at a future date or on demand. Negotiable Instrument is a general term, and as per section 13 of Negotiable Instruments Act, there are three kinds of negotiable tools, it includes a promissory […]

Section 139 of Negotiable Instruments Act

A cheque is defined as a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand. There are three essential parties to a cheque:  The Drawer of a cheque, the drawee of a cheque and the payee of a cheque. On Section 138 negotiable instruments act Supreme […]

Doctrine of Indoor Management

Meaning of Doctrine of Indoor Management The doctrine of Indoor Management also referred to as the Turquand’s Rule evolved 150 years back. This Doctrine came into play as an opposition to the Doctrine of Constructive Notice. On one hand, where Doctrine of Constructive Notice is devised to protect the company against outsiders, the Doctrine of […]

Concept of Lifting of Corporate Veil

Introduction To Lifting of Corporate Veil The corporate veil is a concept which provides that the personality of a company has to be treated separately from that of its shareholders.  It also protects the shareholders from being held personally liable for the company’s debts and other obligations. The Cambridge Dictionary defines corporate veil as the idea […]

Private Limited Company

Introduction To Companies Act 2013 The term ‘company’ implies an association of a number of persons for some common object or objects. In fact, the purposes for which people may wish to associate are multifarious. But companies act 2013 where the term ‘company’ normally refers to the associations for economic purpose i.e., to carry on […]