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NATURE OF EXPORT SALES CONTRACT: Contract is a legal concept. It has been defined in the Section 2(h) of the Indian Contract Act, the other party without any qualification. This process of contract formation is valid all over the world.
Though the offer-acceptance sequence appears logical and simple, sometimes complexities can arise. Let us consider a common situation in export business. An exporter sends his offer in a preformed commercial invoice along with his standard conditions of sales. The importer' accepts the offer but refers to his own standard conditions of purchase. Since these two sets of conditions are different no contract is formed. Importer acceptance will not be considered legally as acceptance but only as a counter-offer. If the exporter in turn confirms his acceptance without referring again to his standard conditions, a contract is formed.
Export of Imported Goods: Goods imported may be exported in the same or substantially the same form, without a licence provided they are not under the Negative Lists. Export of su
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While the earlier strategy of multinationals Was to offer discounts and freebies on purchase of their products, they are now launching products exclusively for Indian market in lig
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Indemnity and Insurable Value : The insurance contract is in the nature of indemnity. The literal meaning of indemnity is protection against loss or making good the loss. The obje
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