Service Contracts Practice Exam

Service Contracts

Service Contracts are agreements between a customer or customer and a person or organization who will offer types of assistance. For instance, a Service Contract may be used to characterize a work understanding between a worker for hire and a mortgage holder. Or on the other hand, an agreement could be used between a business and an independent website specialist.

Most often, Service Contracts incorporate details such as deadlines and installment agreements. Contracts also usually characterize the work to be performed and what process needs to happen assuming changes should be made. These are lawful agreements and can be tested if necessary.

Skills Required

• Cooperation. Strong cooperation skills are the bedrock of solid agreement the board. ...

• Profundity of business knowledge. ...

• Correspondence and project management

• Arrangement. ...

• Tender loving care and Strong understanding of agreements.

Career Opportunity

• Contract Specialist

• Contract Manager

• Service Contracts Administrator

• Business Contract Manager

Table Of Content

Introduction

• Overview

• Contract Definition

• Contract Elements

• Indian Contract Act

Contract Formation

• Agreement

• Classification of contracts

• Offer and Acceptance

• Valid Offer

• Offer Lapse

• Acceptance

• Valid Acceptance

• Communication of offer and acceptance

• Revocation of Offer and Acceptance

• Intention

• Consideration

• Essentials of Consideration

• No consideration No Contract

• Stranger

• Contract Writing

• Contract Contents

Capacity of Parties

• Capacity to contract

• Minor

• Persons of unsound mind

• Persons disqualified by other laws

Free Consent

• Coercion

• Undue Influence

• Misrepresentation

• Fraud

• Mistake

• Unconscionability

Contract Legality

• Legality of object

• Unlawful Consideration and Unlawful Object

• Illegality

• Common Law and Illegality

Wagering, Contingent, Quasi and Performance of Contracts

• Wagering Agreement

• Contingent contract

• Quasi contracts

• Performance of contract

Discharge

• Introduction to Discharge

• Discharge by performance

• Discharge by mutual agreement

• Discharge by breach

• Discharge by operation of law

• Discharge by lapse of time

• Discharge by Impossibility of Performance

• Exceptions to the Doctrine of supervening impossibility:

Breach of Contract and Remedies

• Breach of Contract

• Anticipatory Breach

• Remedies

• Damages

• Equitable remedies

• Specific Relief Act

Special Contracts

• Contract of indemnity and guarantee

• Contract of Guarantee

• Rights of Surety

• Contract of Bailment and Pledge

• Lien

• Finder of lost goods

• Pledge or Pawn

• Contract of agency

• Duties and Rights of an Agent

Sale of Goods Act 1930

• Sale and bailment

• Conditions and warranties

• Transfer of ownership in goods:

• Sale by non owners

• Unpaid Seller

Indian Contract Act, 1872

• PREAMBLE

• Chapter I Of the communication, acceptance and revocation of proposals

• Chapter II Of contracts, violable contracts and void agreements

• Chapter III Of contingent contracts

• Chapter IV Of the performance of contracts - Contracts which must be performed

• Chapter V Of certain relations resembling those created by contract

• Chapter VI Of the consequences of breach of contract

• Chapter VII Sale of goods

• Chapter VIII Of indemnity and guarantee

• Chapter IX Of bailment

• Chapter X Agency, Appointment and authority of agents

• Chapter XI Of partnership

International Contract Law

• International Contract Basics

• The Internationalisation of contract law

• Contractual Disputes

• UN - CISG

• INCOTERMS 2010

• UNCITRAL

• Contract of Carriage of Goods

• International Insurance

• International Payment

• World Trade Organization (WTO)

• Regional Trade Blocs

• Anti-Dumping and Countervailing

• International Commercial Litigation