For more: https://www.youtube.com/watch?v=syx3UYt0EVo&t=14s

1. CONTRACT
Section 2(h)
“An agreement enforceable
by law is a contract”

2. VALID
CONTRACT
Section 10
All agreements are contracts if
they are made by the free
consent of parties, competent to
contract, for a lawful
consideration and with a lawful
object, and are not hereby
expressly declared to be void

3. EXAMPLE
A (who is over the age of 18
and sound mind) signed a
contract with a store to buy a
television set. A pays for the
television set, and the store
presents the same to A to
take it with her

4. VOID
CONTRACT
Section 2(g)
“An agreement not
enforceable by law is said
to be void”

5. EXAMPLE
A and B bet that one of
them would not marry
within a specified time

6. EXPRESSLY
VOID
CONTRACTS
• Agreement void, if considerations
and objects unlawful in part
• Agreement without consideration
• Agreement in restraint of marriage
• Agreement in restraint of trade
• Agreements in restraint of legal
proceeding
• Agreements void for uncertainty
• Agreements by way of wager

7. VOIDABLE
CONTRACT
Section 2(i)
“An agreement which is
enforceable by law at the
option of one or more of the
parties thereto, but not at the
option of the other or others,
is a voidable contract.”

8. EXAMPLE
A agrees to pay B, who is a
minor, a sum of Rs. 1000
for his bicycle.

9. UNENFORCEAB
LE CONTRACT
Section 2(g)
“A contract which ceases
to be enforceable by law
becomes void when it
ceases to be enforceable.”

10. EXAMPLE
A agrees to sell to B
100kgs of sugar for
10,000/-. But there was a
huge flood and all the
sugarcane crops were
destroyed