TL;DR: Novation replaces an existing contract with a new one, transferring obligations to another party.

Understanding …

Sales contracts, especially in international trade, rely on precise terms to manage logistics. Incoterms (International …

Sales contracts are legally binding agreements governing the exchange of goods or services between buyers and sellers. A …

TL;DR: The “statute of limitations” sets the maximum time after an event within which legal proceedings may …

TL;DR: Estoppel prevents a person from contradicting previous statements or actions if someone else has relied on them. …

TL;DR: “Indemnity” is a contractual obligation where one party agrees to compensate another for specific …

TL;DR: “Null and void” refers to something without legal force or effect, rendering it unenforceable and …

TL;DR: “Quantum Meruit” ensures fair compensation for services rendered, even if no contract exists. …