Monday, 21 May 2018

Here Mr Shyam promise to sell his car. For his promise he will get rupees 5 lacs as return from Mr Raja. Here the money received by Shyam is the consideration for his promise.

In the same case, Mr. Raja also promised to pay money to Mr Shyam. for his promise getting car from Mr Shyam is the consideration.

Here, in this case, Mr Raja promised to Mr Shyam and Mr Shyam promised to Mr Raja which will be called as exchange of promises. which will be called as reciprocal promises.

As per the Contract Act, 1872 , reciprocal promises will form part of the consideration for each other.

Monday, 28 August 2017

CROSS OFFER

incase if observe, the above slide the horse Vendor made an offer to sell his horse to the lady.  The Lady also without knowing the offer made by him made an offer to the Vendor to purchase the horse.  Here, both the parties exchanged offer without knowing the others 'offer. But, the subject matter here (horse) is same. Hence, this is across offer.
 Hence, cross offer must-have to satisfy the following2 conditions.


 1) offers Exchange doghouse the knowledge of their Counterpart's offer.


 2) The terms and conditions of the offers of both the Parties are identical (or) so identical.


 Hence, we must have to question ourselves whether there is a valid contraction between booth the parties or not?


 Ans.    No    There is no Contract. Because Both they exchanged often only. No one accepted no one's offer.
 An offer alone will not make a valid contract.

Sunday, 27 August 2017

COUNTER OFFER

Let me extend the example to the further extent, after the customer offered to purchase at 35 rupees the shop keeper denied to sell his bottle at that price. Then, because of the lady is thirsty and having no option to go else where she is ready to purchase at 50 and asked the shop keeper to have the bottle. But, shop Keeper rejected to give at 50 now. This Lady is arguing with the shop keeper why don't he give even she ready to pay 50 rupees. Whether, the argument of lady is tenable or not?
ANSWER: Her argument is not tenable. Because of the reason is 

WHEN A COUNTER OFFER IS MADE BY THE OFFEREE THE ORIGINAL OFFER MADE BY THE OFFEROR STANDS TO BE DISOLVED.  

Thursday, 24 August 2017

SPECIAL OFFER

Special Offer means if the offeror makes an offer to a particular person, it is a special offer. Here, in above image HENA is offering to MICHEL. Here, HENA wants to enter into contract with MICHEL only. Even the other persons are having knowledge of offer not able to accept the offer.
     In other words an offer which can be accepted by only the person/s to whom it is meant, is a special offer.

Here Mr Shyam promise to sell his car. For his promise he will get rupees 5 lacs as return from Mr Raja. Here the money received by Shyam...