This article speaks on the salient differences between the exercise of a ‘Right of First Refusal’ and a ‘Right of First Offer’.
Category: Commercial and Operational Contracts
Significance Of The Capping Of Liability Clauses In Contracts
By capping of liability, we mean stipulating a limit to the financial damages payable by a party to the contract, in the event of a breach. Commercial agreements of the current period have become very much advanced with various protective clauses, and one such clause is the “Liability Cap clause”.
Legal Position of Anticipatory Breach In India
Anticipatory breach or repudiation is a well-recognized concept in Indian courts and the law on it is fairly well settled. In instances of an anticipatory breach, it is at the discretion of the injured party being notified of the breach as to whether it wants to put an end to the contract or keep it alive for its benefit.
Void Agreements: Definition, Examples, Legal Provisions, and Steps to Avoid Them
Reviewed and Validated by: Srijan Jha, Associate Introduction – Void Agreements There are some underwhelming agreements. Some become the basis of..
Significance Of The Capping Of Liability Clauses In Contracts – Part 2
Reviewed and Validated by: Shubham Dwivedi, Associate This is the second part of a three part series re-evaluating the significance of..
Significance Of The Capping Of Liability Clauses In Contracts – Part 1
This is the first part of a three-part series re-evaluating the significance of the liability cap clause in contracts with an emphasis on limiting financial exposure and keeping in mind the aftermath of the pandemic. This financial year has in addition to changing the approach of business has also re-asserted the significance of certain contractual clauses such as liability cap clauses and force majeure, which were earlier not given due attention.
Requisites of a Cheque – Negotiable Instruments Act, 1881
Reviewed and Validated by: Shubham, Associate The essential requisites of a cheque are: (1) The instrument must be in writing. (2)..