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Laws of contract
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Laws of contract

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Transcript

  • 1. LAWS OF CONTRACT
  • 2. Definition of ContractAn agreement enforced by law iscontractIt is an agreement the object of whichis to create a legal obligationIt’s a duty enforced by law
  • 3. Essential Elements of a ValidContract
  • 4. Essentials of a valid contract Offer and acceptance Intention to create legal relationship Lawful consideration Capacity of the parties Free consent
  • 5. Essentials of a valid contract Lawful object Certainty of terms Writing and registration Possibility of performance Not expressly declared void
  • 6. Kinds of Contracts
  • 7. Kinds of Contracts Kinds of Contracts from Point of View of Enforceability Kinds of Contracts from Point of View of Mode of Creation Kinds of Contracts from Point of View of the Extent of Execution
  • 8. Kinds of Contracts from Point of View ofEnforceability Valid Contract Voidable Contract Void Contract Unenforceable Contract Illegal or Unlawful Contract
  • 9. Kinds of Contracts from Point of View ofMode of Creation Express Contract Implied Contract Constructive or Quasi Contract
  • 10. Kinds of Contracts from Point of View ofthe Extent of Execution Executed Contract Executory Contract
  • 11. Thank you for your patience