By Vallari Dronamraju, Final Year Student at National University of Advanced Legal Studies, Kochi
Coercion in Indian law that renders an agreement voidable, is considered as duress in English law.. In English law, a contract may be voidable on the same grounds as India (coercion, undue influence, fraud or misrepresentation) and set aside as the wrong was part of the process by which the victim’s consent was taken. The doctrine of duress will be applicable here, where one party threatens another party with a demand to be complied with and the threatened party accedes to this and enters into the contract. However, if the demand of the threatening party is unlawful (duress to person, goods, threatened breach of contract, or future[i] unlawful act), the contract may be set aside. Further, the doctrine of lawful act economic duress is a threat of serious financial consequences, that gives the threatened party no practical choice but to enter into the said contract.
Continue reading “The Doctrine of Lawful Act Economic Duress: Will the PIAC Decision Impact Voidable Contracts in India?”
By Nikshetaa Jain and Tushar Chitlangia, students at National Law University Odisha
The setbacks created by COVID-19 had major ramifications across the world, and businesses were no exceptions. Due to the lockdowns, the supply chains were disrupted and as a consequence, some parties were not able to perform the contract.
Continue reading “A Continuing Tussle on Taxation Of Liquidated Damages”
Advocate Meenal Garg, Punjab & Haryana High Court
The Arbitration and Conciliation Act, 1996 (hereinafter “the Act”) empowers both the court as well as the arbitral tribunal to grant interim protection to an aggrieved party under Sec. 9 and 17 of the Act respectively. A comparison of these two provisions read along with other provisions of the Act reveals the following differences:
Continue reading “Minimal Court Intervention and Arbitrator’s Discretion to Grant Interim Orders”
Yash Tripathi, Associate at Pioneer Legal, Mumbai
In an event of default in repayment of the debt, invoking a guarantee is always the priority of the lenders. However, it should also be looked thoroughly whether a document serves as a contract of guarantee or not. In the recent decision of Yes Bank Ltd. v. Zee Entertainment Enterprises Ltd. &Ors., Bombay HC draws the line of difference between a letter of comfort (“LOC”) and a contract of guarantee.
Continue reading “Line of Difference: Letter of Comfort and Contract of Guarantee”