Legal Llama

  Specific performance of part of contract [S. 12 of Specific Performance Act] Section 12 deals with specific performance of a part of a contract. It provides in clause (1) that as a general rule, the court shall not grant specific performance of a part of a contract. The section, however, recognises in clauses (2) to (4) certain exceptions to the above rule. Whether specific performance of a part of the contract is to be ordered or not has been wholly left by the section to one deciding factor, namely, the proportion the part which can be performed bears to that which cannot be performed. Where the part which cannot be performed bears only a small proportion to the whole in value and the unperformed part can be compensated adequately in terms of money, the court may order specific performance of one part and compensation for the other. A slightly different principle comes into play where the part which cannot be performed forms a considerable part of the whole. In such cases t...

  AGREEMENT BY WAY OF WAGER (SECTION 30) Section 30 declares wagering agreements as void. The Section is as follows: Agreement by way of wager void and no suit shall be brought for recovering anything alleged to be won on any wager, or entrusted to any person to abide by the result of any game or other uncertain event which any wager is made. Exception in favour of certain prizes for horse racing-This Section shall not be deemed to render unlawful a subscription or contribution, or agreement to subscribe or contribute, made or entered into for or toward any place, prize or sum of money, of the value or amount of five hundred rupees or upwards, to be awarded to the winner or winners of any horse race. Section 294-A of the Indian Penal Code not affected-Nothing in this Section shall be deemed to legalize any transaction connected with horse racing, to which the provisions. of Section 294-A of the Indian Penal Code apply." What is a wagering agreement The Contract Act doe...

  CONTINGENT CONTRACTS What is a contingent contract According to Section 31, a contingent contract is a contract to do or not to do something, if some event, collateral to such contract, does not happen. When the contract is dependent or conditional upon the happening or non-happening of a certain future event, the contract is contingent. For example, A contracts to pay B Rs. 10,000 if B's house is burnt, this is a contingent contract. (Illustration to Section 31). The payment of the amount is contingent on the happening of a collateral event, i.e., the burning of the house. All contracts of insurance or indemnity aim at payment of money only after a certain event happens, or the loss is caused, and, therefore, they are contingent contracts. A wagering agreement is also a contingent contract, but that type of contingent contract has been specifically declared to be void by Section 30. A distinction is to be drawn between a contract under which a present obligation is created...

  Trade-Related Aspects of Intellectual Property Rights (TRIPS) The Uruguay Round of multilateral trade negotiations held in the framework of the General Agreement on Tariffs and Trade (“GATT”) was concluded on December 15, 1993.The agreement which established the World Trade Organization (“WTO Agreement”), was enforced on April 15, 1994, in Marrakech. For the first time the negotiations included within the GATT, discussions on aspects of intellectual property rights of international trade. The result of those negotiations, given in an Annexure of WTO Agreement was the agreement on Trade-Related Aspects of Intellectual Property Rights (the “TRIPS Agreement”). The WTO Agreement, including the TRIPS Agreement (which is binding on all WTO Members), enforced on January 1, 1995. A new organization was established by the former agreement known as the World Trade Organization, which came into force from January 1, 1995. Member States of WTO were granted a specific period of time after...

  Effect of flaw in consent Section 19 deals with the effect of flaw in consent caused by coercion, misrepresentation and fraud and Section 19-A when the consent has been obtained by undue influence. The relevant provisions-contained in these Sections are as under: 19. Voidability of agreement without free consent- When consent to an agreement is caused by coercion, fraud or misrepresentation, the agreement is a contract voidable at the option of the party whose consent was so caused. When A party to a contract, whose consent was caused by fraud or misrepresentation, may, if he thinks fit, insist that the contract shall be performed, and that he shall be put in the position in which he would have been if the representation made had been true. 19-A. Power to set aside contract induced by undue influence- When consent to an agreement is caused by undue influence, the agreement is a contract voidable at the option of the party whose consent was so caused. Any such contract may be set ...

                                     Theories of Intellectual Property Rights Intellectual property is a broad set of  intangible assets  and it is entitled to be protected with the view that certain products of human intellect should be provided with the same protective rights that apply to physical property or  tangible assets . Intellectual property rights refer to the general term for the assignment of property rights through patents, copyrights and trademarks etc. for a limited period. To understand the value and importance of IPR, we should know the theories behind its origin and the same are discussed below. 1.       The Natural Rights Theory The main justification behind this theory is that everyone has a right to consider his/ her ideas as natural property right by the reason that the creation originates from the effort, originality...

INTERNATIONAL CONVENTIONS RELATED TO IPR World Intellectual Property Organization About WIPO The World Intellectual Property Organization (WIPO) is a specialized agency of the United Nations with 193 member states. The mission of WIPO is to develop a balanced and accessible international intellectual property (IP) system, which rewards creativity, stimulates innovation and contributes to economic development while safeguarding the public interest. WIPO was established by the WIPO Convention in 1967 with a mandate from its Member States to promote the protection of IP throughout the world through cooperation among states and in collaboration with other international organizations. Its headquarters are in Geneva & Switzerland. The Director General is Daren Tang . What does WIPO do? WIPO cooperates with intellectual property (IP) offices, users and other stakeholders to develop shared IP tools, services, standards, databases and platforms. This technical infrastructure i...