The two terms 'agent' and 'principal' have been defined in Section 182 of the Indian Contract Act. An agent is a person employed to do an act for another or to ...

Meaning of a company : A company or a joint stock company is an association of persons for a business purpose. It is incorporated under the Companies Act. Its ...

A surety is vested with a lawful authority either against the creditor or against the principal debtor or against co-surety only when he discharges his ...

A surety is said to be discharged from liability when his liability comes to an end. The various modes of discharge of a surety are given below: By revocation ...

Nature and Extent of Surety's Liability Co-extensive: Section 128 of Indian Contract Act deals with the nature of the liability of the surety. According ...

Continuing Guarantee: A guarantee may be given in two ways, on the basis of these ways, there can be two types of guarantees: specific and continuing: ...

According to Section 126 of the Indian Contract Act, A contract of guarantee is a contract to perform the promise, or discharge the liability, of a third ...

Remedies for Breach of Contract: Whenever there is a breach of a contract, the injured party becomes entitled to any one or more of the following remedies ...

Ordinary or general damages:  When a contract has been broken, the injured party can recover from the guilty party ordinary damages. Ordinary damages are ...

Quasi-contracts. A contract can be enforced only when it has all the essential elements of a valid contract. An obligation arising from a contract is ...