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Contract Law Notes

Contract Law

Essential Features of Agency

There are several essential features of agency that are necessary for the legal relationship to exist: Consent: Agency requires the voluntary consent of both parties....
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Contract Law

Types of Agent

There are different types of agents based on the nature and scope of their authority and the relationship they have with the principal. Some...
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Contract Law

Definition and Scope of Bailment

Definition of Bailment Bailment is a legal relationship in which one person (the bailor) delivers personal property to another person (the bailee) for a specific...
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Contract Law

Essential Features of Bailment

There are several essential features of bailment that are necessary for the legal relationship to exist: Delivery of possession: The bailor must deliver possession of...
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Contract Law

Types of Bailment

There are different types of bailment based on the nature of the transaction and the purpose of the bailment. Some of the common types...
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Contract Law

Duties and Rights of Bailor

As part of the bailment relationship, the bailor has certain duties and rights: Duties of Bailor Delivery of Possession: The bailor must deliver the personal property...
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Contract Law

Duties and Right of Bailee

As part of the bailment relationship, the bailee has certain duties and rights: Duties of Bailee Take Reasonable Care: The bailee must take reasonable care of...
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Contract Law

Definition and Scope of Pledge

Definition of Pledge Pledge refers to a type of security agreement where a debtor (referred to as the pledgor) provides a lender (referred to as...
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Contract Law

Pawner’s Right to Redeem

The right of redemption is a legal right granted to the pawner (also known as the pledgor) in a pledge agreement to recover the...
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Contract Law

Rights of Pawnee

As the holder of the pledged property, the pawnee (also known as the pledgee) has certain rights in a pledge agreement. These rights include: Possession:...
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