Laws of Tenders and Auctions

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Submitted By richa87
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LAB PROJECT
REPORT

LAW OF TENDERS AND AUCTIONS

PGPM 2010-12
TERM 1

TABLE OF CONTENTS

1. Auction and tender.……………………………………………………………………………………………………………….......3 2. Auction………………...……………………………………………………………………………………………………………….......3 2.1 Legal Aspect as per The Sale of Goods Act, 1930...............................................................3

2.1.1 Legal Rules Regarding Auction.............................................................................3

2.2 Legal Aspect as per The Indian Contract t, 1872................................................................4 2.3 Auction Terminologies…………………………………….................................................................6 3. Tender………………..………………………………………………………………………………………………………………….......6 3.1 Legal Aspect as per The Indian Contract t, 1872................................................................6

3.1.1 Acceptance and withdrawal of tenders...............................................................6
3.1.2 No Obligation to Accept Lowest Tender..............................................................7
3.2 Tenders Terminology……………….………….………..................................................................8 3. Judicial Pronouncements and Analysis………………………………...........................................................9 3.1 Auction…………..………………………………….............................................................................9

3.1 Tender.…………..…………………………………............................................................................13

7. References.....……………………………………………………………..................................................................17

1. AUCTION AND TENDER
Auction and Tender are two significant modalities by which business contracts are…...

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