Business Laws Part I - CA
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Description: The Indian Contract Act, 1872: Defines contracts as legally binding agreements with offer, acceptance, consideration, and mutual consent.
Description: The Indian Contract Act, 1872: Contracts can be unilateral or bilateral, executed or executory, and may involve conditions or warranties.
Description: Consideration : Value exchanged in a contract, legally necessary for validity, involving mutual benefits or promises.
Description: Essential contract elements: offer, acceptance, consideration, legality, capacity, mutual consent, and written documentation.
Description: Contract performance involves fulfilling agreed terms, duties, and obligations by all parties within stipulated time.
Description: Breach of contract occurs when terms aren't met; remedies include damages, specific performance, rescission.
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Description: Contingent contracts depend on future events; quasi contracts impose obligations without mutual agreement.
Description: Formation of the Contract of Sale-I: offer, acceptance, consideration, mutual consent, legality, written agreement, and parties' capacity.
Description: Formation of the Contract of Sale-II: clear terms, delivery conditions, payment details, warranties, risk transfer, and dispute resolution.
Description: Formation of the Contract of Sale-III: identification of goods, title transfer, inspection rights, breach remedies, and termination clauses.
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