Here is a compilation of twenty-four question on contract with their relevant answers. Q. 1. When a contract is said to have come into force? Ans. A contract is said to have come into force when, upon receipt of an order, the exporter sends an acceptance in writing in a fixed time as indicated by the importer. Q. 2. What [...]
After reading this article you will learn about the meaning and items of monitoring for the contract. Meaning of Monitoring: Though it is essential for the exporters but it is equally important for the importers as well. The exporter can monitor the various activities which collectively result in the delivery of the goods to the importer, and the importer can [...]
After reading this article you will learn about:- 1. Meaning of Contract 2. Types of Contracts 3. Formations 4. Parties 5. Basic Elements. Meaning of Contract: A contract is the result of inquiry, offer and negotiations process. It is a piece of duly signed document, which contains the negotiated and agreed detailed terms and conditions for the export and/or import [...]