Contracts of guarantee, Business Law and Ethics

Assignment Help:

Contracts of Guarantee

There the Law of Contract Act, 1961, S.3 (1) provides as follow:

Actually "No suit shall be brought whereby to charge the defendant upon any type of special promise to answer to the debt, default or miscarriage of another person unless the agreement upon that such suit is brought then or some memorandum or note thereof, is in writing and signed through the party to be charged therewith, or about other persons thereunto through him lawfully authorized."

Contracts for the Sale of an Interest in Land:

Well 'The Law of Contract (Amendment) Act, 1968', provides: as;;

However "No suit shall be brought upon a contract to the disposition of  an interest in land unless the agreement on that the suit is founded, or some memorandum or note thereof is in writing and is signed through the party to be charged or through some person authorised through him to sign it.  Such provided a suit shall not be prevented through reason only to the absence of writing, whether an intending purchase or lessee who has performed or is willing for perform his part of a contract-as;

  • First has in part performance of the contract taken possession to the property or any part thereof;
  • Second being already in possession, continues in possession in part performance to the contract and has done some other act in furtherance for the contract.

Related Discussions:- Contracts of guarantee

Beneficial service - binding contracts, Beneficial Service - Binding Contra...

Beneficial Service - Binding Contracts According to such, a contract relates service or apprenticeship is such binding on an infant - which mostly provided it is substantially

Objection to a variation of class rights, Objection to a variation of class...

Objection to a variation of class rights: The company proposed to reduce its share capital by repayment of the 5% 1 pound Cumulative Preference Shares (which were entitled to

Profit and loss account, Profit and Loss Account: with s.148(1) the di...

Profit and Loss Account: with s.148(1) the directors of every company shall, at some date not soon than eighteen months later than the incorporation of the company and subsequ

Valid but irregular allotments -allotment of shares , Valid But Irregular A...

Valid But Irregular Allotments: An allotment of shares is valid but irregular under S.52 (3) if it was made before the time of the opening of the subscription lists. The secti

Remuneration - powers of managing director, Remuneration:             ...

Remuneration:             Article 108 provides that "a managing director shall receive such remuneration (whether by way of salary plus commission or may participation in earn

Quorum, QUORUM: However a quorum is the minimum number of persons who ...

QUORUM: However a quorum is the minimum number of persons who must be present at a meeting in order that the meeting may validly transact the business for that it was convened

What is vicarious liability, What is vicarious liability? Liability of...

What is vicarious liability? Liability of the employer and employee: An employer may be liable like a result of a negligent action executed through the employee. It is term

Legal status - promotion, Legal Status:  A promoter is not an agent o...

Legal Status:  A promoter is not an agent of the company he promotes.  However, the English courts have held that he stands in a fiduciary relationship to the company he promo

What are the functions of the independent commission, Question 1: The B...

Question 1: The Bill of Lading possesses the key features of an efficient transport document. Discuss. Question 2: A CIF sale is not a sale of goods but a Sale of Do

Introduction to business law, Part A Approach a small business owner an...

Part A Approach a small business owner and find out the following: a. What is the legal structure of their business? - Discretionary trust legal structure for an Accounti

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd