- Contract is private law generally made by the parties to the contract
- Parties are autonomous
- Contract is a law made the parties for themselves
- Contract has different types
- Parties to the contract has obligation to perform duty
- Violator (Guilty Parity) has to compensate the affected person
In a case of Karishma Impex v. National Trading Limited, Nepal Law Journal 2048, Decision no. 4444 p. 691 Supreme Court held that “ the parties to the contract can create mutual obligation by agreeing upon the term and condition as per their need within the boundary of law.
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