Difference Between

Condition vs Warranty   Companies frequently conduct business transactions with consumers and other firms. In order to conduct transactions in a safe manner it is important to write up a contract for sale of goods which will lay out the terms, conditions, rights, and legal implications that surround the sale.... 

Lessor vs Lessee   A business owner who requires a specific asset has two options to obtain the asset; he can either purchase it or lease the asset. Leasing an asset can be more economical than purchasing it, as a lease is like renting an asset and using it over the period of time that for which it is required.... 

Representation vs Warranty   In business and legal contracts, there are often terms that are very confusing and almost like riddles. We all are aware of the concept of warranty as we get assurance from the manufacturer against defects and problems that may crop up in products that we purchase form the market.... 

Assignment vs Delegation   Contracts law has many important concepts. Two complimentary concepts in these are delegation and assignment. A very thin line divides assignment and delegation. This article attempts to highlight the differences between assignment and delegation by discussing the features of both. Assignment In... 

Novation vs Assignment In businesses and commercial activities, contracts and agreements hold great significance, especially in these times of mergers and acquisitions, and change in partnerships in between projects. It is thus, prudent to know the differences between Novation and assignment to safeguard one’s... 

Liquidated Damages vs Penalty These days it has become common to includ terms like liquidated damages and penalty in contracts beforehand to avoid possible losses in case of breach of contract by a party. Though, payment of a sum of money may be stipulated in a contract, the payment of money is actually decided... 

Liquidated Damages vs Damages Damages and liquidated damages are legal terms that are often encountered when signing a contract with another party, irrespective of profession. Damages are sums of money that are mentioned in the contract, and are required to be paid to the victim in case of breach of contract... 

Indemnity vs Guarantee Indemnity and guarantee are two important ways to safeguard ones interests when entering into a contract. There are many similarities between the two concepts though they differ a lot also. This article will highlight the differences between Indemnity and guarantee to enable readers to choose...