SURETY

SURETY

RIGHTS OF SURETY A surety is a person giving a guarantee in a contract of guarantee. A person who takes…

CONTRACT OF INDEMNITY

CONTRACT OF INDEMNITY

CONTRACT OF INDEMNITY The term Indemnity literally means “Security against loss”. In a contract of indemnity one party – i.e.…

DISCHARGE OF CONTRACT

DISCHARGE OF CONTRACT

DISCHARGE OF CONTRACT Discharge of Contract implies termination of contractual obligations. This is because when the parties originally entered into the…

MISREPRESENTATION

MISREPRESENTATION

MISREPRESENTATION A misrepresentation is an untrue statement of a material fact made by one party which affects the other party’s…

FRAUD

FRAUD

FRAUD Fraud means dishonestly making a false, untrue or misleading representation with a view to gain or with intention to…

UNDUE INFLUENCE

UNDUE INFLUENCE

UNDUE INFLUENCE The term ‘undue influence’ means the improper or unfair use of one’s superior power in order to obtain…