Page 19 - Contract Act News Today

Taliban have no authority to decide cases in Pakistan: SC

Rejects as unlawful militant outfit’s ‘agreement’ presented in land dispute case.

 0 Coming down heavily on HDFC Bank Ltd for violating its orders, market regulator Securities and Exchange Board of India (SEBI) has asked the lender to deposit Rs158.68 crore along with interest in an escrow account and pay a penalty of Rs1 crore. SEBI found HDFC Bank violated its interim order and unilaterally invoked securities pledged by BRH Wealth Kreators Ltd (BRH) (formerly BMA Wealth Creators Ltd) and BRH Commodities Private Ltd (formerly BMA Commodities Pvt Ltd), worth Rs158.68 crore....

Introduction There are several ways in which parties can discharge their contractual obligations. For example, the doctrine of accord and satisfaction allows parties to discharge their contractual obligations by performing certain modified obligations or by novating or rescinding the existing contract.(1) In other words, a liability arising out of a breach of contract can be discharged by a new agreement (an accord), wherein the parties mutually agree a new consideration, forfeiting their right...

To print this article, all you need is to be registered or login on Mondaq.com. COVID-19, a pandemic is an unprecedented crisis which has spread across 209 countries and territories around the world. The Indian market has also suffered due to the pandemic and the lockdown enforced by the government to contain the pandemic. Due to lockdown imposed by the Central Government on March 24, 2020, businesses in India have faced huge losses. One of the markets which was also imp...

To embed, copy and paste the code into your website or blog: The U.S. Department of Labor’s (DOL) Wage and Hour Division was hard at work in the closing days of 2020, endorsing the use of electronic posting of required notices and telemedicine visits under the Family and Medical Leave Act. The new DOL bulletins recognize the challenges posed by COVID-19 and employers’ increased reliance on technology in remote work environments. Electronic Notice Posting Permitted With the rise of remote wo...

Farmers reject compromise, BJP sees red December 23, 2020 Farmers protest against the Centre’s new farm laws, at Kundli border in Sonipat   -  PTI Farmers protest against the Centre’s new farm laws, at Kundli border in Sonipat   -  PTI× Left parties are hijacking the protest feels BJP, but the protesters refute claim The united forum of farmers’ organisations rejected the Centre’s offer for talks on the three contentious farm reform laws and asked the government to come up with an ...

A Letter of Comfort [LoC] is a financial instrument that is usually given by the parent company or the promoter, attesting to the financial soundness and solvency of the obligor (the company receiving the credit from the lenders). A lot of debate has already taken place with regard to the enforceability of such an instrument that could not be put under the strict definition of a guarantee. But the similarities between the two instruments cannot be ignored. A typical contract of guarantee also h...

Introduction On 13 November 2020 the Supreme Court ruled on whether agreements regarding severance packages in the event of voluntary resignation, which were entered into during a downsizing process, could be partly set aside because they were contrary to good business practices or unreasonableness (Section 36 of the Contract Act 1918). To answer this question, the Supreme Court had to decide whether the employees were entitled to an early retirement pension in such a process based on the previ...

THE STANDARD By Betty Njeru | December 21st 2020 at 12:49:00 GMT +0300 In the MPs in-tray are about 13 bills that will be read for the first time on the floor of the House. The National Assembly will tomorrow hold a special sitting to debate the planned reversal of key tax rates. At the height of the pandemic, President Uhuru Kenyatta ordered the tax exemptions to cushion Kenyans from the effects of Covid-19. In the MPs in-tray are about 13 bills that will be read for the first time on the f...