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can u give Some more simple example of Contact law so I can Understand easily
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can u give Some more simple example of Contact law so I can Understan...
Contract law governs the legality of agreements made between two or more parties when there is an exchange of some sort intended to take place. In nearly all business transactions, contracts are made. Such contracts, even if made by a verbal agreement, are legally enforceable, as an obligation to fulfill the terms of the agreement has been created. Anytime an individual, business, or other entity agrees to take action, or to make an exchange or payment for something of value, a contract has been created. Examples of such agreements in business include bills of sale, purchase orders, and employment agreements.

For example:
Josh agrees to deliver 300 pavers to Charles at his home on Monday, for $150.00. Charles pays Josh the full amount up front, but Josh fails to deliver the pavers on Monday. When the pavers still haven’t been delivered on Wednesday, Charles is angry and simply wants his money refunded. Josh has committed an actual breach of his contract with Charles.

An anticipatory breach refers to an intended or anticipated failure of one party to perform his duties under the contract. Anticipatory breach occurs when one party informs the other party of his unwillingness, or inability, to perform under the contract ahead of time. In such a case, the party that will be harmed by the breach does not have to wait until all other terms, or a required date, has come and gone before taking legal action.
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The COVID-19 pandemic has taken the entire world hostage in less than four months, and the global economy has been hit the hardest with governments across the globe implementing stringent policies including lockdown to control the coronavirus outbreak. The pandemic today presents unprecedented challenges and impediments to businesses in conducting their normal operations. The lockdown across the world has caused delays in the performance of contracts and transactions. Now, the question that arises is whether the current situation can enable parties to a contract to alter their obligations with non-compliance of terms neither being regarded as a "default committed by any party" nor a "breach of contract"? There are certain well-accepted practices for dealing with such extraordinary situations in commercial transactions by the inclusion of force majeure & material adverse effect (MAE) clauses. Determination of the types of circumstances so covered by the force majeure clause contained in a contract is essential. Provisions of force majeure often cover natural disasters like hurricanes, floods, and earthquakes as "acts of God." Other covered events may include war, terrorism, civil disorder, fire, disease medical epidemics or by reasons of applicable laws or regulations. Broadly, the Courts have interpreted the term "Force Majeure" as an event that can neither be anticipated nor controlled by either of the contracting parties. A force majeure clause applies in the context of ongoing contractual arrangements, whereas, an MAE or material adverse change (MAC) clause applies to the allocation of risk in transactions before their closure or completion. Pandemic and related consequences such as government action is a type of event covered by a force majeure clause, however, its impact on the affected partys ability to perform its contractual obligations may vary depending upon contractual terms. It is common for force majeure clauses to specify the impact that the event or circumstances in question must have, in order for the clause to be triggered. References may be made, for example, to the event or circumstances having "prevented", "hindered" or "delayed" performance. These terms require different levels of impact on performance before a party can claim recourse to these clauses. In other words, the force majeure and MAC clauses act as an exception to what would otherwise be treated as a breach of contract. Certain contracts may state that, if a force majeure clause is applied, the contract may automatically be terminated. On the other hand, some contracts may even state that the duty to fulfil the contractual obligation may be suspended for a certain period of time and if the force majeure event is not curbed or treated even after such time, then eventually the contract may be terminated. Though there cannot be a one-size-fits-all solution to this question, and it depends upon how the force majeure clause is worded in a specific contract; and in the absence of the same, applicable laws related to the same will be required to be taken into consideration.Q.Imagine, there is a domestic commercial Contract for supply of certain goods for certain price between A and B. However, in pursuance of the same, both A and B forget to negotiate and agree on the terms of a Force Majeure event and the Contractual document does not contain the Force Majeure clause. In such a situation, what would be the fate of the Contract in the event like that of COVID 19?

Indemnity can be treated as a sub-species of compensation and a Contract of Indemnity is a species of contracts. The obligation to indemnify is a voluntary obligation taken by the Indemnifier. The mere possibility of loss occurring will not make the indemnifier liable. The loss to the indemnity holder is essential, otherwise, the indemnifier cannot be held liable. Plus, the loss must arise due to the conduct of the indemnifier or any other person related. Strictly speaking this does not cover the acts of God; otherwise, various insurance transactions will be rendered untenable. Under Indian law, the definition of contract of indemnity is restricted to cases wherein the loss is caused by human agency. Losses from other causes are covered in other chapters of the Indian Contract Act, 1872.Contract of Indemnity should have all the essentials of a valid contract like free consent, the legality of an object, etc. Consideration, in this case, can be anything done, or any promise made which serves as a motivation behind the contract. It is sufficient inducement that the person for whom the indemnifier has promised indemnity has received a benefit or that the indemnity holder has suffered an inconvenience of doing what the indemnifier asks. The indemnity may be for the loss which a party may sustain due to the conduct of the promisor himself or of any other person. As stated earlier, this provision restricts the scope of contracts of indemnity as it covers the loss caused by a human agency only, i.e., by the conduct of the promisor or of any other person. However, the general definition of the contract of indemnity is much wider and it also covers the losses caused by the acts other than human beings.So, we can say that if one person promises to save other from the loss caused to him by the conduct of the promisor himself or by the conduct of any other person subject to the condition if promisee (indemnity holder) work within the scope of the promisor.Q. Which of the following captures the essence of the passage?

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can u give Some more simple example of Contact law so I can Understand easily Related: Introduction & Offer - Contract of Law
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can u give Some more simple example of Contact law so I can Understand easily Related: Introduction & Offer - Contract of Law for CLAT 2024 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about can u give Some more simple example of Contact law so I can Understand easily Related: Introduction & Offer - Contract of Law covers all topics & solutions for CLAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for can u give Some more simple example of Contact law so I can Understand easily Related: Introduction & Offer - Contract of Law.
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