Author: Hemant More

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Indian Contract Act

Types of an Offer

Express offer

Indian Legal System > Civil Laws > Indian Contract Act, 1872 > Types of an Offer A proposal is main ingredient of a valid contract. The term “proposal” of the Indian Contract Act is synonymous to the term “Offer” in English law. Section 2(a)of the Indian Contract Act, 1872 defines proposal as “when one person […]

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Indian Contract Act

Proposal or Offer

Law > Civil Laws > Indian Contract Act, 1872 > Proposal or Offer In contract proposal and acceptance of proposal are important ingredient. In this article, we shall discuss proposal in details. Section 2(h) of the Indian Contract Act , 1872, defines the term ‘Contract’ as “An agreement enforceable by law is a contract.” Section […]

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Indian Contract Act

Valid Agreement

Valid Contract

Law > Civil Laws > Indian Contract Act, 1872 > Valid Agreement A contract is an agreement which is enforceable by law. Hence we use word contract it satisfies all legal requirement. Hence the word “Void contract” is wrong. It should be “void agreement”. Thus contracts can only be valid or voidable. The term “proposal” […]

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Economics

Elasticity of Demand

The elasticity of demand shows the reaction of one variable with respect to the change in other variables on which it is dependent. Thus elasticity is an index of reaction. In economics, elasticity refers to a ratio of the relative changes in two quantities. It measures responsiveness or sensitiveness of one variable due to the change […]

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Economics

The Law of Demand

Law of Demand 01

Statement: Demand varies inversely with price. Assumptions of the law There is no change in the income of consumers. There is no change in the quality of the product. There is no substitute for the commodity in the market. The prices of related commodities (complements)  remain the same. There is no change in customs, tastes, […]

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Economics

Demand

Demand Curve

Problem of Choice In any choice problem, there is a feasible set of alternatives. The alternatives which are available to the individual constitute this feasible set. The individual is assumed to be clear in her mind about her likes and dislikes (preferences) and has the capacity to compare any two alternatives (rational) in the feasible […]

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MRTU & PULP Act, 1971

MRTU & PULP Act 1971: Authorities

Industrial Court

Indian Legal System > Civil Laws > Labour Laws > MRTU and PULP Act, 1971 > Authorities Under MRTU & PULP Act In this article, we should study the authorities under MRTU & PULP Act are Industrial Court, Labour Court, and Investigating Officers. Industrial Court: Constitution of Industrial Court: Section 4 of MRTU & PULP […]

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MRTU & PULP Act, 1971

Introduction to MRTU & PULP Act

MRTU PULP Act 01

Indian Legal System > Civil Laws > Labour Laws > MRTU and PULP Act, 1971 > Introduction The law identifying with work and job is called Industrial law or labour law in India. The meaning of MRTU & PULP Act, 1971 is the Maharashtra Recognition of Trade Unions and Prevention of Unfair Labour Practices Act, 1971. By Government […]

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Legal Maxims

Volenti Non Fit Injuria

Volenti Non Fit Injuria

Meaning of Volenti Non Fit Injuria: Damage suffered by consent is not a cause of action. Meaning Word by Word: Volenti: Voluntarily Non fit: Non-actionable Injuria: Injury to private Legal Rights. Explanation: If a plaintiff has given his consent (free from coercion, fraud, misrepresentation, mistake, undue influence) to a legal act with the knowledge of […]

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Legal Maxims

Damnum Sine Injuria

Damnum sine injuria

Meaning of damnum sine injuria: Actual damage suffered without legal injury Meaning Word by Word: Damnum: Loss or damage Sine: Without Injuria: Injury to Private Legal Rights Explanation: The damage may be in form of money, service, physical hurt, loss of health or reputation and loss of comfort. According to this maxim, these are mere […]