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ARTICLE · 19 NOVEMBER 2018

Termination Of Contract

S.S. Rana & Co.
S.S. Rana & Co.
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S.S. Rana & Co.

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A contract is an agreement, the terms of which are enforceable by law.

IndiaCorporate/Commercial Law
S.S. Rana & Co. Advocates
S.S. Rana & Co. Advocates
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In order to carry out business operations, parties are required to enter into an arrangement which has the effect of creating binding obligations on them. A contract is an agreement, the terms of which are enforceable by law. Governed under the provisions of the Indian Contract Act, 1872 (hereinafter referred to as the "Act"), failure to fulfil the duties set out under the contract entails liability on the party causing the breach.

Events of termination

Some of the circumstances which result in termination of a contract between the parties are listed as below:

  • Coercion – A contract can be terminated on the account that a party has exercised coercion by committing or threatening or detaining tactics to obtain the consent of the other party (Section 15 of the Act).

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