Foreign Exchange Derivative Contract - Law Dictionary Search Results
Home Dictionary Name: foreign exchange derivative contract Page: 3Open contract
Open contract, a complete contract of which the meaning admits the implications of law without special conditions, or except so far as such conditions may modify these implications, as a contract to sell land without mentioning the day for completion of the purchase, or without stipulations as to title or otherwise. See Vendor and Purchaser Act, 1874, ss. 1, 2; Conveyancing Act, 1881, s. 3, reproduced with amendments by ss. 44 and 45, Law of Property Act, 1925. See CONTRACT FOR SALE OF LAND....
Proper law of a contract
Proper law of a contract, refers to the legal system by which the parties to the contract intended their contract to be governed if their intention is expressly stayed or if it can be clearly inferred from the contract itself or its surrounding circumstances, such intention determines the proper law of con-tracts. Where, however, the intention of the parties is not expressly stated and no inference about it can be drawn, their intention as such has no relevance. It that event, the courts endeavour to impute an intention by identifying the legal system with which the transaction has its closest and most real connection, National Thermal Power Corporation v. Singer Company, 1992 (3) SCC 551....
Pre-contract
Pre-contract. Where one of the parties to a marriage was under a prior agreement to marry a third person, such prior agreement was called a pre-contract. It was a canonical impediment to the marriage of either party. The Ecclesiastical Courts would formerly enforce this agreement, by compelling the parties to a public marriage, and if one of them had already married, such marriage would be void ab initio; but until thus avoided it was good. See 32 Hen. 8, c. 28, and 2 & 3 Edw. 6, c. 23, s. 2; Bishop on Marriage and Divorce, s. 53. But pre-contract is no longer a cause for dissolving a marriage in England; see 26 Geo. 2, c. 33; Co. Litt. 79 b, and Hargrave's note (4)....
The contract contains any other stipulation by penalty
The contract contains any other stipulation by penalty, the expression 'the contract contains any other stipulation by way of penalty' comprehen-sively applies to every covenant involving a penalty whether it is for payment on breach of contract of money or delivery of property in future, or for forfeiture of right to money or other property already delivered, Fateh Chand v. Balkishan Das, AIR 1963 SC 1405 (1411): (1964) 1 SCR 515...
Voidable contract
Voidable contract, An agreement which is enforce-able by law after option of one or more of the parties thereto, but not at the option of the other or others, is a voidable contract.. [Contract Act, 1872 (9 of 1872), s. 2(i)]...
Contract for the hire of goods
Contract for the hire of goods, means a contract, other than an excepted contract, under which one person bails or agrees to bail goods to another by way of hire. Supply of Goods and Service Act, 1982 (UK), Halsbury's Laws of England, Vol. 2, para 856, p. 868....
Void contract
Void contract, A contract which ceases to be enforce-able by law becomes void when it ceases to be enforceable. [Contract Act, 1872 (9 of 1872), s. 2(j)...
Contract under seal
Contract under seal, is sometimes called, a contract by speciality, is a contract which is made by deed, Halsbury's Laws of England, Vol. 9, para 210, p. 86....
Contract of option
Contract of option, is one whereby the grantor of the option offers to enter into what may be called a 'major' contract with a second person and makes a separate contract to keep his offer open, Varty v. British South Africa Co., (1965) 1 Ch 508 (522)....
Contract labour
Contract labour, a workman shall be deemed to be employed as 'contract labour' in or in connection with the work of an establishment when he is hired in or in connection with such work by or through a contractor, with or without the knowledge of the principal employer. [Contract Labour (Regulation and Abolition) Act, 1970 (37 of 1970), s. 2 (1) (b)]Means any person engaged or employed in any premises by or through a contractor, with or without the knowledge of the employer, in any manufacturing process. [The Beedi and Cigar Workers (Conditions of Employment) Act, 1966 (32 of 1966), s. 2 (e)]...
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