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ELEMENTS OF MERCANTILE LAW by N.D. Kapoor (2009). Thirty First Edition, New Delhi: Sultan Chand and Sons Limited, pp vi + 1127, Price - Rs. 350.
Law in itself is a significant and detailed subject. Framing, executing and implementing rules and regulation is a constant process and requires great rigor. Mercantile law is one such category of law which is of great utility for individuals, business firms and the entire economy. It covers a vast arena from contract act, company law to specialized aspects of industrial law. N.D. Kapoor is a renowned name in the field of law and has a good hold on presentation of legal concepts. The book under review is the thirty-first edition and includes mercantile law related acts with clarity and simplicity. The book has been divided into three volumes. Volume One on Law of Contract includes four parts. The introductory volume throws light on elementary aspects of law like - what is law, what are objects of law, what is the need for the knowledge of law, what is the need for the knowledge of law, sources and nature of mercantile law.
Part One titled General Principles of Law of Contract has twelve systematic drafted chapters. Chapter 1 is titled General Principles of Law of Contract. It includes objectives of the law of contract, the Indian contract Act, 1872, essential elements of a valid contract, classification of contracts, and classification of contracts in English law. Chapter 2 titles Offer and Acceptance and it deals with meaning of offer and acceptance, communication process of offer, acceptance and revocation. Chapter 3 is titled Consideration and includes definition of consideration, its need, legal rules, etc. Capacity to Contract is chapter 4. This chapter defines who are the minors, persons of unsound mind, and, persons disqualified by any law in eligible to enter a contract. Chapter 5 is titled Free Consent. It provides insight into meaning of consent and free consent. The same chapter further deals with concepts of coercion, undue influence, misrepresentation, fraud and mistakes.
Chapter 6 on Legality of Object throws light on situations when consideration/ object is categorized as unlawful. Chapter 7 is on Void Agreements. It discusses meaning of void contracts and void agreements along with the concept of...