by Administrator | Mar 26, 2015 | Legal FAQs
I am planning to start a Company. One of my colleagues told me that Memorandum of Understanding cannot be considered an element of contract. Is it true? What is Memorandum of Understanding? In general term it is a document which expresses mutual accord on an issue...
by Administrator | Mar 26, 2015 | Legal FAQs
Execution of property documents is always a complex process and error occurs in such process of execution of the documents and they are to be rectified at the earliest. Any agreement prepared by an experienced person may make mistakes while drafting the document. Most...
by Administrator | Mar 26, 2015 | Legal FAQs
Please explain the role of surety and the degree of his liability. Section 126 of the Indian Contract Act states about contract of guarantee, surety, principal debtor and creditor. The person who gives the guarantee is called the surety and on whose default the...
by Administrator | Mar 26, 2015 | Legal FAQs
I want to know the meaning of void agreements? Section 10 of the Indian Contract Act states that all agreements if made by free consent by competent parties for a lawful consideration and which are not declared void are contracts. Void agreements are those that cannot...
by Administrator | Mar 25, 2015 | Legal FAQs
Section 25 of Indian Contract Act 1872 states that an agreement without consideration, is void unless it is in writing and registered under the law. For example if A out of love and affection promises to give his son B Rupees 5,000 and puts it into writing and...
by Administrator | Mar 8, 2015 | Legal FAQs
Q. I have filed a complaint under Section 138 of Negotiable Instruments Act against a person. What is the maximum term of punishment that he can get or if fine is imposed, what is the amount? When a cheque bounces it invites criminal prosecution under Section 138 of...
