THE INDIAN CONTRACT ACT, 1872 The Law of Contract Constitutes the most important branch of mercantile or commercial law. It affects everybody, more so, trade, commerce anq industry. It may be said that the contract is the foundation of the civilized world. The law relating to contract is governed by the Indian Contract Act, 1872 (Act No. IX of 1872). The preamble to the Act says that it is an Act "to define and amend certain parts of the law relating to contract". It extends to the whole
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The Indian Contract Act, 1872 is the law relating to Contracts in India. It came into force on September 1, 1872 and is extended to the whole of India except to the state of Jammu and Kashmir. The Indian Contract Act, 1872 initially also dealt with Sale of Goods, Indemnity and Guarantee, Law of Bailment, Agency and Partnership. However, in 1930, a separate Act on the Sale of Goods was passed. The Indian Partnership Act was passed in 1932. Interpretation of The Indian Contract Act, 1872 1. When
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THE INDIAN CONTRACT ACT, 1872 The law relating to contract is governed by the Indian Contract Act, 1872. The Act came into force on the first day of September, 1872. It extends to the whole of India except the State of Jammu and Kashmir. The Act is by no means exhaustive on the law of contract. It does not deal with all the branches of the law of contract. Thus, contracts relating to partnership, sale of goods, negotiable instruments, insurance etc. are dealt with by separate Acts. What
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CONTENTS 1) INTRODUCTION Page - 1 2) PERFORMANCE OF CONTRACTS Page - 2 to 5 3) CONCLUSION Page - 6 4) BIBLIOGRAPHY Page - 7 INTRODUCTION IMPORTANCE OF CONTRACT LAW: Contract law lays down general principles of contract. It is like a limit or boundary within which parties can agree upon something. It lays down the circumstances in which it will be legally obligatory to perform a promise and provides remedies for breach. Our society depends upon free exchange in
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secure a loan from the other person. It is defined as in the Indian Contract Act, 1872, as “The bailment of goods as a security for the payment of a debt or performance of a promise is called pledge. The bailor in this case is called a Pawner and the bailee is called a Pawnee.” Essentially, when the purpose of the bailment is to secure a loan, it is called a pledge. This article is concerned specifically with Section 176 of the Indian Contract Act, which deals with the pawnee’s right to sue or right of
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An outsider’s understanding of Mao requires a feat of imagination, first to recognize the nature of his supremacy. Mao had two careers, one as rebel leader, one as an updated emperor. He had gained the power of the latter but evidently retained the self-image of the former. Because authority in China came form the top down, as was recognized even in the mass line, once the CCP had taken power its leader became sacrosanct, above all the rest of mankind, not only the object of a cult of veneration
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the Cherokee. In the 1830s, the Indian Removal Act was passed, giving President Andrew Jackson the freedom to force the Cherokee to be exiled beyond the state of Mississippi. During that time the Cherokee nation was violently forced from their homes and made to leave behind the only life they had ever known. Stricken by harsh weather, sickness, and surrounded by death and sadness, the Cherokee people made the long march from Georgia to Oklahoma. The Cherokee Indians should not have been forced to
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Understand the circumstances that led to the Louisiana Purchase The circumstances that led to the Louisiana Purchase were the transcontinental railroad that would connect Atlantic to the Pacific that allowed settlers a faster and safer way to California and the West. It led to the now famous Lois and Clark Expedition to the Pacific Ocean. We championed westward expansion and exploration which doubled the size of the landscape. He fanned fundamental disagreement about the spread of slavery to
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organization was spurred by his own difficulties with Congress. Unlike other famously strong Presidents, Jackson defined himself not by enacting a legislative program but by creating one. In eight years, Congress passed only one major law, the Indian Removal Act of 1830, at his command. During this time Jackson vetoed twelve bills, one of these was the first "pocket veto" in American history. The Maysville Road and Bank vetoes stood as enduring statements of his political philosophy. Jackson strengthened
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actions under Indian policy were some of the only beneficial decisions he ever made. His decisions seemed to follow the tradition of Indian tribes gradually moving westward as more settlers entered America. Others believe Jackson had no right to destroy the lives of so many people and acted irresponsibly. His view on Indian policy violated not only political and constitutional aspects, but also moral, and practical as well. Andrew Jackson’s decision to send the American Indians on the trail of
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