Tag: Contract Law

  • Contract

    Introduction to Contract Contract, in law, an agreement that creates an obligation binding upon the parties thereto. The essentials of a contract are as follows: (1) mutual assent; (2) a legal consideration, which in most instances need not be pecuniary; (3) parties who have legal capacity […]

  • Contract

    Introduction to Contract Contract, in law, an agreement that creates an obligation binding upon the parties thereto. The essentials of a contract are as follows: (1) mutual assent; (2) a legal consideration, which in most instances need not be pecuniary; (3) parties who have legal capacity […]

  • Carrier

    Summary of Carrier A firm engaged in the business of transporting persons or goods for profit. Railroads, trucking companies, airlines, and steamship operators are examples of carriers. Carriers can be divided into three categories: the private carrier moves only its own goods or those of […]

  • Incoterms

    A codification of terms used in foreign trade contracts. Local customs and usage imported variations in meaning for such common terms as F.A.S., C.I.F., et cetera, often resulting in disputes between buyer and seller as to the respective obligations of each. In 1936 the Paris-based […]

  • Incoterms

    A codification of terms used in foreign trade contracts. Local customs and usage imported variations in meaning for such common terms as F.A.S., C.I.F., et cetera, often resulting in disputes between buyer and seller as to the respective obligations of each. In 1936 the Paris-based […]

  • Spot Market

    A market for commodities or currency in which the sale results in an immediate or nearly immediate exchange of the goods or instruments for cash, as compared with a futures market, which trades in contracts for the future delivery of the product….

  • Reinsurance

    An arrangement in which an insurance underwriter contractually spreads its policy risks with other underwriters, sharing the premium with them. For example, an underwriter may issue a policy for fifty million dollars to cover the loss of a ship; being unwilling to assume the full risk of loss, […]

  • Countertrade

    A commercial arrangement in which the buyer pays for his purchases, wholly or partly, with something other than money. Very often countertrade deals include some cash, but a significant portion of the transaction is settled with commodities or services. Countertrade has been employed heavily […]

  • Theories of Contractual Obligation

    Theories of Contractual Obligation Theories of Contractual Obligations Consent Theory of Contract in General The mere fact that one man promises something to another creates no legal duty and makes no legal remedy available in case of non-performance. To be enforceable, the promise must be accompanied by some other factor…. The question now to be…

  • General Average

    Summary of General Average An ancient principle in international maritime law requiring a contribution by the vessel and cargo interests to pay for "extraordinary expenses and sacrifices"incurred in saving the vessel and its cargo. The term average derives from an Arabic word […]

  • General Average

    Summary of General Average An ancient principle in international maritime law requiring a contribution by the vessel and cargo interests to pay for "extraordinary expenses and sacrifices"incurred in saving the vessel and its cargo. The term average derives from an Arabic word […]

  • Contract Of Affreightment

    Contract Of Affreightment Summary of Contract Of Affreightment A contract, between the shipper of goods and a transport company, specifying the terms and conditions under which a given lot of merchandise is to be moved. The contract is usually evidenced by a bill of lading containing the […]

  • Contract Of Affreightment

    Contract Of Affreightment Summary of Contract Of Affreightment A contract, between the shipper of goods and a transport company, specifying the terms and conditions under which a given lot of merchandise is to be moved. The contract is usually evidenced by a bill of lading containing the […]

  • Discharge

    Discharge in Canadian Procedural Law Find materials in the Canadian legal Encyclopedia that anlyze Discharge.

  • Discharge

    Discharge in Canadian Procedural Law Find materials in the Canadian legal Encyclopedia that anlyze Discharge.