Company Law
Conflict of laws, also known as private international law, is a branch of law that deals with legal disputes involving foreign elements—such as parties from different countries, contracts executed across borders, or events occurring in multiple jurisdictions. It determines which jurisdiction’s laws apply, which court has authority, and how foreign judgments are recognized and enforced.…
Terms of a contract define the rights and obligations of the parties involved in an agreement. These terms may be expressed in writing or implied by law, conduct, or custom. Understanding the nature, classification, and significance of contractual terms is essential for drafting enforceable agreements and resolving disputes when they arise.…
Certainty of terms is a fundamental requirement in contract law. For a contract to be valid and enforceable, its terms must be clear, definite, and complete. If essential terms are vague, ambiguous, or incomplete, the courts may deem the agreement unenforceable. This principle ensures that all parties understand their obligations and can rely on the contract being upheld in case of a dispute.…
Exemption clauses are provisions in contracts that limit or exclude a party’s liability for certain breaches, losses, or damages. Commonly found in standard form contracts, these clauses help businesses manage risk, but they are subject to strict legal scrutiny to prevent abuse or unfairness.…
Standard form contracts are pre-drafted agreements where the terms are set in advance by one party, and the other party has little or no opportunity to negotiate. These contracts are commonly used in everyday transactions such as mobile phone agreements, insurance policies, and online services.…
Acceptance is a critical element in the formation of a contract. It signifies the offeree’s unqualified agreement to the exact terms of the offer. For a contract to be legally binding, the acceptance must comply with certain rules to ensure clarity, fairness, and mutual consent.…
An offer is the starting point in the formation of a contract. It is a clear proposal made by one party (the offeror) to another (the offeree), indicating a willingness to enter into a legally binding agreement on specific terms. To ensure validity and legal enforceability, offers must follow certain rules.…
The formation of a contract is the process by which two or more parties enter into a legally binding agreement. For a contract to be valid and enforceable, it must meet specific legal requirements. Understanding how contracts are formed is essential in both business and legal contexts, as contracts are the foundation of most commercial and personal transactions.…
Quasi-contracts are not actual contracts formed through mutual agreement, but rather legal obligations imposed by courts to prevent unjust enrichment. They are based on principles of fairness and equity, ensuring that no one benefits unfairly at another’s expense. Understanding quasi-contracts is essential in business law as they provide remedies in situations where no formal contract exists but justice demands compensation.…
Unenforceable contracts are agreements that, while valid in substance, cannot be enforced by a court due to a legal technicality or failure to meet statutory requirements. These contracts contain the essential elements of a valid contract—offer, acceptance, consideration, capacity, and lawful object—but lack enforceability under specific legal conditions.…