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The Indian Contract Act, 1872[1] prescribes the law relating to contracts in India and is the key act regulating Indian contract law. The Act is based on 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.
The Indian Sale of Goods Act, 1930 is a mercantile law which came into existence on 1 July 1930, [ 1 ][ 2 ] during the British Raj, borrowing heavily from the United Kingdom's Sale of Goods Act 1893. It provides for the setting up of contracts where the seller transfers or agrees to transfer the title (ownership) in the goods to the buyer for ...
Anything of value promised by one party to the other when making a contract can be treated as "consideration": for example, if A contracts to buy a car from B for $5,000, A's consideration is the promise of $5,000, and B's consideration is the promise of the car. Additionally, if A signs a contract with B such that A will paint B's house for ...
Title retention clause. A retention of title clause (also called a reservation of title clause or a Romalpa clause in some jurisdictions) is a provision in a contract for the sale of goods that the title to the goods remains vested in the seller until the buyer fulfils certain obligations (usually payment of the purchase price).
The automotive industry in India is the world's fourth-largest by production and valuation as per 2022 statistics. [ 1 ][ 2 ][ 3 ] As of 2023, India is the 3rd largest automobile market in the world in terms of sales. [ 4 ] As of April 2022 [update], India 's auto industry is worth more than US$100 billion and accounts for 8% of the country's ...
Download as PDF; Printable version; From Wikipedia, the free encyclopedia. Redirect page. Redirect to: Contract of sale; Retrieved from " ...
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