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DESCRIPTION: Contract is a binding legal agreement that is enforceable in the court of law. The contract is an exchange of promise, breach of which the law will provide a remedy. In nalanda, there are many people who enter in contract every now and then. Contracting parties need to fulfill all the duties and obligation arising out of contract. Non-fulfillment of those duties can cause a breach of contract. Lawtendo has the best lawyers in nalanda who have vast knowledge about contract, contact lawtendo today....
INTRODUCTION: The nalandan contract occupies the most important place in commercial law. Without contract, it is not possible to continue trade and business. Not only contract is important in commercial laws but every other person enters in a contract like an employed person, common people. We enter into a contract so many times that it became an important part of the day to day life. The remedies available under nalandan contract act, 1872 in case of breach of contract suit for damages (monetary compensation for loss suffered) or compensation, suit for specific performance, suit for injunction, suit for rescission, punitive damages. The number of damages would depend upon the type of loss caused to the aggrieved party by the breach.
INDIAN CONTRACT ACT, 1872: This act deals with the enforcement of the rights and duties on the contracting parties. The aim of this act is to ensure that the rights and obligations which are arising out of the contract are fulfilled and non-fulfillment of which provides remedies to those who are aggrieved party by the guilty party. A promise which is made by contracting party to another party shall be legally binding. Law of contract offers personal rights and imposes a personal obligation. The object of a contract must be lawful in order to get the remedy later. The contract often represents a tool that a company uses to safeguard their resources.
For a contract to be legally binding there is a certain condition which needs to be fulfilled for a valid contract: There must be an offer by one party and acceptance by another party, an intention to create a legal relationship and a consideration.
WHY YOU NEED TO CHOOSE US: In the day to day affairs of the world, where people enter into contract every now and then people need to make sure they are entering into valid contract to avoid disputes. In case you find difficulty after entering into a contract or you have any question, or there is a breach of contract then all you need is to come to us. Lawtendo offers you the best attorneys who can handle your suits. Lawtendo’s first priority is to provide its clients with high quality of legal services, best client service. We offer you a great assistance in nalanda.