Binding - Law Dictionary Search Results
International Commercial Arbitration
1996, s. 2(f)] International commercial arbitration means an arbitration relating to disputes arising out of legal relationships, whether contractual or not, con-sidered as commercial under the law in force in India and where at least one of
Guaranty, or Guarantee
case he should fail to perform his engagement. An offer to guarantee until it be accepted is not binding. At Common Law a guarantee need not have been in writing, but the Statute of Frauds (29 Car.
Hire-purchase system
with the condition that the property passes when all the installments have been paid; here there is a binding agreement for the party to purchase, whereas in Helby v. Matthews Agreements' there is not; this is the
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Immoral contracts
contract under seal, made in consideration of past seduction or cohabitation, can be enforced; not because it is binding in honour and conscience, for such a reason is not sufficient, but because it is a specialty (see
Impair
of (property or property right). This term is commonly used in reference to diminishing the value of a contractual obligation to the point that the contract becomes invalid or a party loses the benefit of the contract,
Incapacity
have certain legal consequences attach to one's actions. For ex. a five-year old has an incapacity to make binding contract (3) Disability, Black's Law Dictionary, 7th Edn., p. 764.
Infant
comes of age; as a conveyance of lands, a promissory note, an account stated. 3rd. Those which are binding ab initio and need on ratification: such as contracts for the public service, Articles of apprenticeship [see Green
Interest
have been made. Proceeding further, this Court observed in that case that interest whether it was statutory or contractual represented the profit the creditor would have made if he had the use of the money to which
Necessity, agent of
be justified in assuming extraordinary powers; . . . his acts, fairly done, under such circumstances, will be binding up on his principal' (Story on Agency, 9th ed. s. 141). (2) A stranger acting without any authority
Trespasser
see SPRING GUNS. Per K. Ramaswamy, J.: A rank trespasser is one who does not stand in any contractual relationship with the owner of the premises. A trespasser is also one who lawfully enters into but unlawfully
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