contract law

other party dont have any right to revoke on any basis

thnx !! but just wanna confirm ...... r u sure ??

it for sure that other party cannot revoke on any ground

but according to u

is this clause valid that a co. holds the right to revoke the contract

yeah i understand what exactly u mean .. but u didnt get me ...our contract says that we have a right to revoke ..ok ...but there r no such words mentioned here that even the other party has a right or they can revoke ..... but still i they do .....wht r our right???  answer me only if u r sure .......................and thnx for ur replies!!

yeah i understand what exactly u mean .. but u didnt get me ...our contract says that we have a right to revoke ..ok ...but there r no such words mentioned here that even the other party has a right or they can revoke ..... but still if they do .....wht r our right???  answer me only if u r sure .......................and thnx for ur replies!!

Originally posted by :Akshata
"	yeah i understand what exactly u mean .. but u didnt get me ...our contract says that we have a right to revoke ..ok ...but there r no such words mentioned here that even the other party has a right or they can revoke ..... but still if they do .....wht r our right???  answer me only if u r sure .......................and thnx for ur replies!!	"

 

I believe that a contract should give both the parties equal rights and powers. Ideally, if there is a contract between A & B, and it says that A has the right to revoke and mentions nothing about B's rights, and if B signs the contract, then he has no right to revoke. However, subject to the circumstances and implications, B can challenege the contract in the court on other grounds.

Originally posted by :Akshata
"	yeah i understand what exactly u mean .. but u didnt get me ...our contract says that we have a right to revoke ..ok ...but there r no such words mentioned here that even the other party has a right or they can revoke ..... but still if they do .....wht r our right???  answer me only if u r sure .......................and thnx for ur replies!!	"

 

I believe that a contract should give both the parties equal rights and powers. Ideally, if there is a contract between A & B, and it says that A has the right to revoke and mentions nothing about B's rights, and if B signs the contract, then he has no right to revoke. However, subject to the circumstances and implications, B can challenege the contract in the court on other grounds.

It may be noted that the freedom of the individuals to enter into any kind of contracts is the most fundamental feature of the Indian contract act subject of course to the limiting factors embodied in the act itself. In the absence of the vitiating factors like fraud, misrepresentation, mistake, coercion, undue influence etc the agreement referred by you is valid. The other party shall be deemed to have waived his contractual rights and since he has done it with his eyes wide open , the court has no role to play.