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The Indian Contract Act, 1872 [1] prescribes the law relating to contracts in India and is the key regulating Indian contract law. Then the principles of English Common Law. It is applicable to all the states of India. It determines the circumstances in which promises made by the parties to a contract shall be legally binding.
Day 4: B's original letter of acceptance arrives, A then records the contract as a sale. B's acceptance of the offer means there is a binding contract – she is obliged to pay for the land or be liable for damages. B is just rejecting the offer, she did not actually revoke her acceptance; Under the posting rule, performance is a means of ...
Where under a contract of sale the property in the goods is transferred from the seller to the buyer, the contract is called a sale, but where the transfer of the property in the goods is to take place at a future time or subject to some condition thereafter to be fulfilled, the contract is called an agreement to sell.
A take-or-pay contract, or a take-or-pay clause within a contract, is a payment obligation agreed between a business customer and its supplier. With this kind of contract, the customer either takes the product from the supplier or pays the supplier a penalty. For any product the company takes, it agrees to pay the supplier a certain price, say ...
Weather spotter, an individual who observes the weather to inform media or others Storm spotter, a weather spotter who observes severe weather events; Aircraft spotter, a hobbyist who tracks and records the movement of aircraft; Bus spotter, a hobbyist who seeks to see all buses in a particular fleet or produced by a particular manufacturer
The doctrine of "no-work-no-pay" is a fundamental axiom in industrial relations. The philosophy are very simple. When a person is employed, it is expected that the work assigned will be carried out. When this work is not done, the employee is not eligible for payment of any salary. [5]
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