..., No Oral Modification Clause (NOM Clause), precluding oral modifications of the contract. Irrespective of it, business persons make oral agreements modifying the contract, and later, dispute its validity. If the parties are free to contract, why should the oral agreement not be binding? In a NOM Clause...

... of administrative problems. Formation of Contracts Consideration Implied Terms Oral Agreements Q. There was no mention of standard terms and conditions on the phone on 29 January? A. It was orally ‘2%’. When he asked me ‘What are your fees’? I said, ‘My standard fees are 2%’. Apart from...