What is Section 7 of Indian contract Act? (1) be absolute and unqualified; (2) be expressed in some usual and reasonable manner, unless the proposal prescribes the manner in which it is to be accepted.
What is Section 7 of Indian contract Act?
(1) be absolute and unqualified; (2) be expressed in some usual and reasonable manner, unless the proposal prescribes the manner in which it is to be accepted.
How is right of lien exercised?
It is the unpaid sellers right to retain the goods until the whole of the price is paid or tendered. Lien can be exercised only for non-payment of the price and not for any other charges due against the buyer. The unpaid seller must be in actual possession of goods.
What is Section 17 contract Act?
Section 17 describes fraud and lists the acts that amount to fraud, which are a false claim, active concealment, promise without the intention of carrying it out, any other deceptive act, or any act declared fraudulent.
What are the two kinds of lien?
The Indian Contract Act, 1872 classifies the Right of Lien into two types: Particular Lien and General Lien. Section 170 of the aforesaid Act gives the exact definition of Particular Lien which states that the Bailee is free to hold control of a precise property with position to the charge which is due.
What is Section 4 of Indian Contract Act?
Section 4 in The Indian Contract Act, 1872. (a) A proposes, by letter, to sell a house to B at a certain price. (a) A proposes, by letter, to sell a house to B at a certain price.” The communication of the proposal is complete when B receives the letter.
What is Section 10 of Indian Contract Act?
10. All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void.
Who gets the rights of special lien?
Lien is the right of an individual to retain goods and securities in his possession that belongs to another until certain legal debts due to the person retaining the goods are satisfied. Lien does not endorse a power of sale but only to retain the property.
Who qualifies for general lien?
It is a right to retain the property belonging to another for a general balance of the account. A general lien is available to bankers, factors, attorneys of the High Court, and policy brokers. Example of General Lien; A has two accounts in a bank.
Is negative lien a charge?
Mandatory Registration of ‘Negative Lien’ as a ‘Charge’ under the Company Laws of India: Section 2(16) of the Act defines the term Charge as “an interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes a mortgage”.
What does section 171 of the Contract Act mean?
Section 171 of the Contract Act entitles a banker to retain the goods bailed to him for any other debt due to him, i.e., any debt taken prior to the debt for which the goods were entrusted as security.
What is chapter 171 of the Arbitration Act?
Amended by Acts 1997, 75th Leg., ch. 165, Sec. 5.01, eff. Sept. 1, 1997. Sec. 171.003. UNIFORM INTERPRETATION. This chapter shall be construed to effect its purpose and make uniform the construction of other states’ law applicable to an arbitration.
What is chapter 171 of the Texas Civil Code?
The making of an agreement described by Section 171.001that provides for or authorizes an arbitration in this state and to which that section applies confers jurisdiction on the court to enforce the agreement and to render judgment on an award under this chapter. Added by Acts 1997, 75th Leg., ch. 165, Sec. 5.01, eff. Sept. 1, 1997. Sec. 171.082.
What is chapter 171 of the Civil Practice and Remedies Code?
CIVIL PRACTICE AND REMEDIES CODE CHAPTER 171. GENERAL ARBITRATION CIVIL PRACTICE AND REMEDIES CODE TITLE 7. ALTERNATE METHODS OF DISPUTE RESOLUTION CHAPTER 171. GENERAL ARBITRATION SUBCHAPTER A. GENERAL PROVISIONS Sec. 171.001. ARBITRATION AGREEMENTS VALID.