REALATING TO CONTRACT
This query is : Resolved
15 July 2008
WHAT IS THE SEALED CONTRACT?
WHAT IS THE SEALED CONTRACT?
11 October 2008
A contract that does not require consideration in order to be binding but that must be sealed, delivered, and show a clear intention of the parties to create a contract under seal
Contracts under seal were in use long prior to the development of the requirement of consideration. They originally usu. were impressed with an actual seal, but today the word seal, the abbreviation L.S., or words such as «signed and sealed" or «witness my seal" may take the place of the seal. Without a clear indication of the parties' intention, however, the presence of a seal, such as a corporate seal, is insufficient to create a contract under seal. Contracts under seal have a substantially longer statute of limitations than contracts based on consideration.
Contracts under seal were in use long prior to the development of the requirement of consideration. They originally usu. were impressed with an actual seal, but today the word seal, the abbreviation L.S., or words such as «signed and sealed" or «witness my seal" may take the place of the seal. Without a clear indication of the parties' intention, however, the presence of a seal, such as a corporate seal, is insufficient to create a contract under seal. Contracts under seal have a substantially longer statute of limitations than contracts based on consideration.
13 October 2008
thanx
thanx
13 October 2008
Thanx for replying my query
Thanx for replying my query
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Relief u/s Section 89
- Nomination of Bank for refund in itr 2
- Rent lease agreement
- Merchant Export Accounting
- Lease agreement and tax on sale
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
