LEGAL ASPECTS OF CONTRACTS презентация

2K11/EN/03
Ajay Singh 2K11/EN/04
Akash Jai Singh 2K11/EN/05
Aman Sokhal 2K11/EN/06
Ankush Das 2K11/EN/06

are covered/governed by the Indian Contract Act, 1872

firm does not need to purchase expensive manufacturing facilities, equipment, machinery, raw materials or hire specialized labor.
This not only allows the hiring firm to focus solely on sales, advertising and marketing but also allows a firm that is comparatively more efficient at manufacturing to carry out the process.
As a result, hiring firms often benefit from economies of scale and the purchasing power of large manufacturers. All of these factors lower production costs.

ENCOURAGES CONSISTENCY




Having a written agreement provides one set of procedures for everyone to follow. For example, if a group rotates its secretary and treasurer, each person might track money and keep records a little differently, which could create an administrative muddle.
Providing the secretary and treasurer with written procedures will help prevent that problem

keeping less of it in your head; there's a limit to how many details we can keep organized in our brains.
Even with people whom you trust completely, you may have had the experience of remembering the same event or conversation differently.

LEADS TO A WELL-THOUGHT-OUT PLAN

Putting ideas in writing helps a group think through details that might not have been ironed out during discussions.
Plans that seem really great over a glass of wine don't always make as much sense when you lay them out on paper.

to reduce risk is that drawing up contracts takes both time and money. To construct an airtight contract, a company has to employ the services of a lawyer to draft the contracts, and lawyers are seldom inexpensive.
In addition, focusing on contracts draws time away from other activities that could help grow the business.

LITIGIOUS ATMOSPHERE
Making every person who deals with an organization sign contracts that are designed to reduce the company's risk can create an atmosphere in which everyone has their hackles up.
This may not only breed suspicion, but it can actually increase the likelihood of a lawsuit, as people forced to sign these contracts may seek the counsel of a lawyer they wouldn't otherwise approach.

firm essentially calls all the shots. This can lead to serious problems for the reputation of the manufacturer if the wrong firm is partnered with.
Consequently, through no fault of their own a manufacturer can be linked to an inferior product, possibly damaging their future business prospects.

PRESSURE TO DELIVER
Due to unforced delays, the parties are left with less time to perform the work. The pressure to deliver in less time reciprocates itself in the reduced quality of the work.

ASPECTS.

fraud, mistake, illegality, duress, minority or made by a mentally disordered person or that the contract has been varied.

NEGLIGENCE LIABILITY

Negligence means the breach of a contractual obligation to take responsible care or to exercise reasonable skill or breach of an equivalent common law duty

AGREED FACTUAL ASSUMPTION

When parties have acted in a transaction upon an agreed assumption that a particular state of facts between them is to be accepted as true, each is to be regarded as estopped as against the other from questioning as regards that transaction the truth of the facts so assume.