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Novation means substitution of an existing contract with a new one. A contract may be terminated by mutual agreement between the parties. When a new contract replaces the existing one by agreement between the parties, the already existing contract is thereby discharged. Thus, it is also a method of discharge of contract. Once the existing […]
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The term ‘wager’ means a bet. Wagering agreements means an agreement by which one person agrees to pay money or money’s worth to another on happening or non-happening of a future and uncertain event. Under Sec. 30 of the Indian Contract Act, 1872, agreements by the way of wager are void. It cannot be enforced […]
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A Loan Agreement is an agreement between the borrower and the bank stipulating the terms and conditions for the give of advance to the borrower. A credit can be taken from a loaning foundation, companions, relative and so on.. A Loan Agreement is fundamental regardless of the reality to whom it is given. Regardless of […]
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