CONTRACT LAW - TIME AN IMPORTANT FACTOR

Time as essence of Commercial Contracts – Latest position of law as stood by Supreme Court of India:

INTRODUCTION:

India, being an economically fast growing Country, is making way for various multinational Companies to enter into Indian Market. The basis for these establishments is Contracts. In fact, Contract can be defined as a meeting of minds with the understanding and acceptance

INDIAN ARBITRATION LAW – AN OVERVIEW

The India Arbitration law is contained in Arbitration and Conciliation Act which is based on UNLITRAL Model Law. The main objects of the Act is to provide speedy disposal of the commercial disputes and also recognises that India’s economic reforms will become effective only if the nation’s dispute resolution provisions are in tune with international regime.