The document discusses the key concepts in Indian contract law such as contract, agreement, offer, acceptance, consideration, capacity to contract, free consent, and validity of contracts.
Some key points covered are:
1. A contract is an agreement that is enforceable by law. There must be an offer and acceptance, intention to create a legal relationship, consideration, free consent and capacity to contract for an agreement to become a valid contract.
2. Essentials of a valid contract include offer, acceptance, intention to create legal relations, consideration, capacity of parties, free consent, lawful object and possibility of performance.
3. Consent is said to be free only when not caused by coercion
The document defines various legal concepts related to contracts under Indian law such as offer, acceptance, consideration, capacity and consent. It explains essential elements for a valid contract and different types of contracts. It also discusses concepts like coercion, undue influence, fraud and misrepresentation that can invalidate a contract due to lack of free consent.
The document discusses key concepts related to contracts under Indian law including:
1. A contract is defined as an agreement enforceable by law, which requires an offer, acceptance, intention to create a legal relationship, consideration, capacity to contract, and free consent.
2. There are various types of valid and invalid contracts. Valid contracts include absolute, contingent, express, and implied contracts. Invalid contracts include void, voidable, illegal, and unenforceable contracts.
3. Essential elements for a valid contract include offer and acceptance, intention to create a legal relationship, consensus ad idem, consideration, capacity to contract, free consent, legality of object, and possibility of performance.
The document summarizes key aspects of contract law under the Indian Contract Act of 1872. It defines a contract and outlines essential elements for a valid contract such as offer, acceptance, consideration, capacity to contract, and free consent. It discusses different types of contracts such as valid/invalid, express/implied, executed/executory, and unilateral/bilateral contracts. It also covers concepts such as privity of contract, minority, coercion, and undue influence.
The document discusses key concepts related to contracts under the Indian Contract Act of 1872 such as:
1. A contract is defined as an agreement that is enforceable by law, which involves an offer, acceptance of that offer, intention to create a legal relationship, consideration, capacity to contract, and free consent.
2. Essential elements of a valid contract include offer and acceptance, intention to create a legal relationship, consensus ad idem, consideration, capacity to contract, free consent, legality of object, and possibility of performance.
3. For a contract to be valid, consent between the parties must be free and not caused by coercion, undue influence, or fraud/misrepresentation.
This document provides an overview of key concepts from the Indian Contract Act 1872. It begins by listing the names of 6 students who submitted an assignment on legal aspects of business and the Indian Contract Act.
The document then covers various topics in depth, providing definitions and explanations of concepts such as offer, acceptance, consideration, capacity to contract, free consent, and more. It defines different types of contracts such as valid and invalid contracts. It also explains concepts such as coercion and undue influence which can invalidate a contract if consent is not free.
In less than 3 sentences, this document provides an in-depth review of important legal concepts from the Indian Contract Act 1872, as submitted by 6 students in an assignment on this
This document discusses the key aspects of contract law in India according to the Indian Contract Act of 1872. It begins by defining a contract and the essential elements for a valid contract, including offer, acceptance, intention to create a legal relationship, consideration, capacity to contract, free consent, certainty of terms, and legality of object. It then discusses different types of contracts and their characteristics. Finally, it examines the conditions required for parties to enter into a valid contract, such as being a major, of sound mind, and not being legally disqualified. The document provides a comprehensive overview of fundamental contract law concepts and principles in India.
The document provides an overview of contract law under the Indian Contract Act of 1872. It defines a contract and outlines the essential elements of a valid contract such as offer, acceptance, lawful consideration, lawful object, free consent, and competent parties. It also discusses different types of contracts such as contingent contracts, contracts of indemnity, guarantee, bailment, pledge, and agency. Key aspects like formation, performance, discharge and remedies for breach of contracts are summarized.
The document defines various legal concepts related to contracts under Indian law such as offer, acceptance, consideration, capacity and consent. It explains essential elements for a valid contract and different types of contracts. It also discusses concepts like coercion, undue influence, fraud and misrepresentation that can invalidate a contract due to lack of free consent.
The document discusses key concepts related to contracts under Indian law including:
1. A contract is defined as an agreement enforceable by law, which requires an offer, acceptance, intention to create a legal relationship, consideration, capacity to contract, and free consent.
2. There are various types of valid and invalid contracts. Valid contracts include absolute, contingent, express, and implied contracts. Invalid contracts include void, voidable, illegal, and unenforceable contracts.
3. Essential elements for a valid contract include offer and acceptance, intention to create a legal relationship, consensus ad idem, consideration, capacity to contract, free consent, legality of object, and possibility of performance.
The document summarizes key aspects of contract law under the Indian Contract Act of 1872. It defines a contract and outlines essential elements for a valid contract such as offer, acceptance, consideration, capacity to contract, and free consent. It discusses different types of contracts such as valid/invalid, express/implied, executed/executory, and unilateral/bilateral contracts. It also covers concepts such as privity of contract, minority, coercion, and undue influence.
The document discusses key concepts related to contracts under the Indian Contract Act of 1872 such as:
1. A contract is defined as an agreement that is enforceable by law, which involves an offer, acceptance of that offer, intention to create a legal relationship, consideration, capacity to contract, and free consent.
2. Essential elements of a valid contract include offer and acceptance, intention to create a legal relationship, consensus ad idem, consideration, capacity to contract, free consent, legality of object, and possibility of performance.
3. For a contract to be valid, consent between the parties must be free and not caused by coercion, undue influence, or fraud/misrepresentation.
This document provides an overview of key concepts from the Indian Contract Act 1872. It begins by listing the names of 6 students who submitted an assignment on legal aspects of business and the Indian Contract Act.
The document then covers various topics in depth, providing definitions and explanations of concepts such as offer, acceptance, consideration, capacity to contract, free consent, and more. It defines different types of contracts such as valid and invalid contracts. It also explains concepts such as coercion and undue influence which can invalidate a contract if consent is not free.
In less than 3 sentences, this document provides an in-depth review of important legal concepts from the Indian Contract Act 1872, as submitted by 6 students in an assignment on this
This document discusses the key aspects of contract law in India according to the Indian Contract Act of 1872. It begins by defining a contract and the essential elements for a valid contract, including offer, acceptance, intention to create a legal relationship, consideration, capacity to contract, free consent, certainty of terms, and legality of object. It then discusses different types of contracts and their characteristics. Finally, it examines the conditions required for parties to enter into a valid contract, such as being a major, of sound mind, and not being legally disqualified. The document provides a comprehensive overview of fundamental contract law concepts and principles in India.
The document provides an overview of contract law under the Indian Contract Act of 1872. It defines a contract and outlines the essential elements of a valid contract such as offer, acceptance, lawful consideration, lawful object, free consent, and competent parties. It also discusses different types of contracts such as contingent contracts, contracts of indemnity, guarantee, bailment, pledge, and agency. Key aspects like formation, performance, discharge and remedies for breach of contracts are summarized.
The document discusses key concepts related to contracts under Indian law such as the definition of a contract, essential elements of a valid contract, capacity to contract, free consent and its exceptions. Some key points:
1. A contract is an agreement that is enforceable by law. It requires an offer, acceptance of the offer, intention to create a legal relationship, consideration and consent.
2. For a contract to be valid, the parties must have the capacity to contract, meaning they must be of the age of majority and sound mind.
3. Free consent is an essential element and consent obtained through coercion, undue influence or fraud is not considered free consent and may make the contract voidable.
The slideshow contains study material for Indian Contact Act - Meaning of Contract, essentials of a valid contract, performance and discharge of a contract, contract of - indemnity and guarantee, bailment and pledge, agency.
This document provides an overview of contract law in India according to the Indian Contract Act of 1872. It discusses key concepts such as the definition of a contract, essential elements of a valid contract including offer, acceptance, consideration, capacity and consent. It also describes different types of agreements that do not constitute legally binding contracts. The summary is as follows:
1) The Indian Contract Act of 1872 governs contract law in India and defines a contract as an agreement enforceable by law involving an offer, acceptance and consideration.
2) Essential elements of a valid contract include offer and acceptance, lawful consideration, capacity and consent of parties, lawful object, and certainty of terms.
3) Not all agreements are considered
The document discusses the essentials of a contract under Indian law. It defines a contract and explains that a valid contract requires agreement and consideration between two parties. It classifies contracts into different types such as express and implied, executed and executory, unilateral and bilateral, and valid, void, voidable and illegal based on how they are formed and executed. Key points covered include definitions of contract, elements of a valid contract, and classifications of contracts according to formation, execution and enforceability.
The document provides an overview of the Indian Contract Act of 1872. It defines key terms related to contracts such as agreement, proposal, offer, acceptance, consideration, consent and remedies for breach of contract. It also discusses different types of contracts and quasi-contracts. The Act determines the circumstances in which promises made by parties to a contract will legally bind them and is applicable to all states in India except Jammu and Kashmir.
This document summarizes key concepts from Chapter 1 of the Indian Contract Act of 1872 regarding the nature of contracts.
It begins by defining terms like proposal, promise, agreement and contract. It notes that a proposal becomes a promise when accepted, and an agreement involving promises is a contract if enforceable by law.
The summary then discusses essential elements of a contract, including agreement and enforceability. It provides examples of what types of agreements constitute contracts.
It also distinguishes agreements from contracts, noting contracts necessarily create legal obligations while agreements do not unless satisfying legal requirements.
The document concludes by covering concepts like impossible contracts, uncertainty in agreements, and classifications of contracts based on creation, execution and enforceability.
1. There are 9 essential elements for a valid contract: offer and acceptance, intention to create legal obligations, competent parties, lawful consideration, lawful object, possibility of performance, free consent, communication between parties, and agreements not expressly declared void.
2. Key elements include offer made by one party, acceptance of that offer by the other party, consideration or value exchanged, lawful and possible object, and meeting of the minds with free consent between competent parties.
3. Certain types of agreements like those that are impossible to perform, restrain trade unlawfully, lack consideration, or have an unlawful object are expressly declared void by law and cannot form valid contracts.
The document provides an overview of the Indian Contract Act of 1872. Some key points:
- The Act came into force in 1872 and applies to the whole of India except Jammu and Kashmir. It governs rights in personam (between persons) as opposed to rights in rem (against property).
- The Act defines a contract as an agreement enforceable by law, containing both an agreement (offer and acceptance) and a legal obligation. Not all agreements are contracts if they do not create enforceable duties.
- For an agreement to be considered a contract, there must be offer, acceptance, intention to create legal relations, capacity to contract, lawful consideration and object, certainty and possibility of performance.
The document discusses key concepts related to contracts under Indian law. It defines terms like contract, agreement, promise, offer, acceptance, consideration, and capacity to contract. It outlines the essential elements of a valid contract and describes different types of contracts such as valid, void, voidable, illegal, and unenforceable contracts. The document also discusses concepts like offer and acceptance in more detail, including rules around revocation, termination, and communication. It covers exceptions to the general rules regarding consideration and capacity to contract.
The document discusses the key aspects of contract law in India including the definition of a contract, essential elements of a valid contract, types of contracts, remedies for breach of contract, discharge of contracts, indemnity agreements, guarantees, partnership law, negotiable instruments, sale of goods act, and company law. It provides definitions, explanations, and examples related to these various legal topics under Indian contract and commercial law.
The Contract Act 1872 lays down the general principles of contract law in India. It establishes the requirements for a valid contract such as offer, acceptance, lawful consideration, capacity to contract, free consent, lawful object and intention to create legal relations. The Act also defines different types of contracts and addresses how contracts are formed, performed and discharged. It provides remedies for breach of contract such as damages, specific performance and injunctions. The Act aims to ensure parties to a contract are bound by certain core obligations while allowing flexibility in agreements.
The document summarizes key aspects of Indian contract law as established in the Indian Contract Act of 1872. Some main points:
1. The Indian Contract Act of 1872 is the main source of contract law in India and was passed based on principles of English common law.
2. It determines the circumstances in which promises made by parties to a contract will be legally binding.
3. The Act establishes essential elements for a valid contract such as offer, acceptance, lawful consideration, competent parties, and free consent.
The document provides an overview of the Indian Contract Act of 1872. It discusses key elements of a valid contract according to the act, including offer and acceptance, lawful consideration, capacity and consent of the parties, a lawful object, and certainty of terms. It also categorizes different types of contracts based on their creation (express, implied, tacit, quasi), validity (valid, void, voidable, illegal), execution (executed, executory), and liability (unilateral, bilateral). The Indian Contract Act of 1872 is an important law that regulates contracts and agreements in India.
This document provides an overview of contract law in India according to the Indian Contract Act of 1872. It defines key terms related to contracts such as offer, acceptance, agreement, consideration, void and voidable contracts. It discusses essential elements for a valid contract including free consent between parties and lawful purpose/object. Conditions for parties to have capacity to contract are explained, along with exceptions for minors and unsound individuals. Specific types of contracts like contingent contracts are also summarized. Various case studies are presented to illustrate contract law principles.
The document discusses key concepts related to contracts under Indian law, including the Indian Contract Act of 1872. It defines important terms like agreement, promise, offer, acceptance, consideration, and capacity to contract. It outlines essential elements for a valid contract and different types of contracts such as valid, void, illegal, and unenforceable contracts. It also covers concepts like free consent, coercion, undue influence, and misrepresentation that can impact the validity of a contract. In summary, the document provides a comprehensive overview of fundamental contract law principles as defined in the Indian Contract Act.
The document discusses key concepts related to contracts under the Indian Contract Act of 1872, including:
- A contract is defined as an agreement that is enforceable by law. There are essential elements for a valid contract including offer, acceptance, intention to create a legal relationship, consideration, capacity to contract, free consent, and legality of object.
- There are different types of contracts such as absolute contracts, contingent contracts, express contracts, implied contracts, valid contracts, and invalid contracts.
- An offer is a proposal made with intention to create a legal relationship, and there are different types of offers. Acceptance must meet certain criteria to be valid.
- Consideration refers to something of value that
The document discusses key concepts related to contracts under Indian law, including the definition of a contract, agreement, offer, acceptance, consideration, capacity to contract, and essential elements of a valid contract. It provides definitions and explanations for various types of contracts such as express and implied contracts, absolute and contingent contracts, and more. It also outlines legal rules pertaining to offer, acceptance, consideration, and capacity to contract. The document serves as a comprehensive overview of contract law fundamentals under the Indian Contract Act of 1872.
BCom Semester 1 Indian Contract Act 1872 संविदा अधिनियम के बारे मेFaizu21
This document defines key terms related to contracts under Indian law. It defines a contract as an agreement that is enforceable by law. It outlines the essential elements required for a valid contract, including offer and acceptance, intention to create a legal relationship, consensus between the parties, consideration, capacity to contract, free consent, legality of purpose, and possibility of performance. It also discusses different types of contracts like absolute versus contingent and express versus implied. Finally, it covers requirements around offer, acceptance, consideration and capacity to enter into a contract under Indian law.
This document provides an overview of contract law in India according to the Indian Contract Act of 1872. It defines key terms related to contracts such as agreement, promise, offer, acceptance and consideration. It outlines the essential elements required for a valid contract, including offer and acceptance, intention to create a legal relationship, consensus, consideration, capacity to contract, free consent, legality of object, possibility of performance, and writing and registration. It also discusses different types of contracts such as valid, invalid, express, implied, absolute, contingent, executed and executory contracts. Finally, it covers important aspects related to capacity to contract, including rules around minors and unsound persons entering into agreements.
The document discusses key concepts related to contracts under Indian law such as the definition of a contract, essential elements of a valid contract, capacity to contract, free consent and its exceptions. Some key points:
1. A contract is an agreement that is enforceable by law. It requires an offer, acceptance of the offer, intention to create a legal relationship, consideration and consent.
2. For a contract to be valid, the parties must have the capacity to contract, meaning they must be of the age of majority and sound mind.
3. Free consent is an essential element and consent obtained through coercion, undue influence or fraud is not considered free consent and may make the contract voidable.
The slideshow contains study material for Indian Contact Act - Meaning of Contract, essentials of a valid contract, performance and discharge of a contract, contract of - indemnity and guarantee, bailment and pledge, agency.
This document provides an overview of contract law in India according to the Indian Contract Act of 1872. It discusses key concepts such as the definition of a contract, essential elements of a valid contract including offer, acceptance, consideration, capacity and consent. It also describes different types of agreements that do not constitute legally binding contracts. The summary is as follows:
1) The Indian Contract Act of 1872 governs contract law in India and defines a contract as an agreement enforceable by law involving an offer, acceptance and consideration.
2) Essential elements of a valid contract include offer and acceptance, lawful consideration, capacity and consent of parties, lawful object, and certainty of terms.
3) Not all agreements are considered
The document discusses the essentials of a contract under Indian law. It defines a contract and explains that a valid contract requires agreement and consideration between two parties. It classifies contracts into different types such as express and implied, executed and executory, unilateral and bilateral, and valid, void, voidable and illegal based on how they are formed and executed. Key points covered include definitions of contract, elements of a valid contract, and classifications of contracts according to formation, execution and enforceability.
The document provides an overview of the Indian Contract Act of 1872. It defines key terms related to contracts such as agreement, proposal, offer, acceptance, consideration, consent and remedies for breach of contract. It also discusses different types of contracts and quasi-contracts. The Act determines the circumstances in which promises made by parties to a contract will legally bind them and is applicable to all states in India except Jammu and Kashmir.
This document summarizes key concepts from Chapter 1 of the Indian Contract Act of 1872 regarding the nature of contracts.
It begins by defining terms like proposal, promise, agreement and contract. It notes that a proposal becomes a promise when accepted, and an agreement involving promises is a contract if enforceable by law.
The summary then discusses essential elements of a contract, including agreement and enforceability. It provides examples of what types of agreements constitute contracts.
It also distinguishes agreements from contracts, noting contracts necessarily create legal obligations while agreements do not unless satisfying legal requirements.
The document concludes by covering concepts like impossible contracts, uncertainty in agreements, and classifications of contracts based on creation, execution and enforceability.
1. There are 9 essential elements for a valid contract: offer and acceptance, intention to create legal obligations, competent parties, lawful consideration, lawful object, possibility of performance, free consent, communication between parties, and agreements not expressly declared void.
2. Key elements include offer made by one party, acceptance of that offer by the other party, consideration or value exchanged, lawful and possible object, and meeting of the minds with free consent between competent parties.
3. Certain types of agreements like those that are impossible to perform, restrain trade unlawfully, lack consideration, or have an unlawful object are expressly declared void by law and cannot form valid contracts.
The document provides an overview of the Indian Contract Act of 1872. Some key points:
- The Act came into force in 1872 and applies to the whole of India except Jammu and Kashmir. It governs rights in personam (between persons) as opposed to rights in rem (against property).
- The Act defines a contract as an agreement enforceable by law, containing both an agreement (offer and acceptance) and a legal obligation. Not all agreements are contracts if they do not create enforceable duties.
- For an agreement to be considered a contract, there must be offer, acceptance, intention to create legal relations, capacity to contract, lawful consideration and object, certainty and possibility of performance.
The document discusses key concepts related to contracts under Indian law. It defines terms like contract, agreement, promise, offer, acceptance, consideration, and capacity to contract. It outlines the essential elements of a valid contract and describes different types of contracts such as valid, void, voidable, illegal, and unenforceable contracts. The document also discusses concepts like offer and acceptance in more detail, including rules around revocation, termination, and communication. It covers exceptions to the general rules regarding consideration and capacity to contract.
The document discusses the key aspects of contract law in India including the definition of a contract, essential elements of a valid contract, types of contracts, remedies for breach of contract, discharge of contracts, indemnity agreements, guarantees, partnership law, negotiable instruments, sale of goods act, and company law. It provides definitions, explanations, and examples related to these various legal topics under Indian contract and commercial law.
The Contract Act 1872 lays down the general principles of contract law in India. It establishes the requirements for a valid contract such as offer, acceptance, lawful consideration, capacity to contract, free consent, lawful object and intention to create legal relations. The Act also defines different types of contracts and addresses how contracts are formed, performed and discharged. It provides remedies for breach of contract such as damages, specific performance and injunctions. The Act aims to ensure parties to a contract are bound by certain core obligations while allowing flexibility in agreements.
The document summarizes key aspects of Indian contract law as established in the Indian Contract Act of 1872. Some main points:
1. The Indian Contract Act of 1872 is the main source of contract law in India and was passed based on principles of English common law.
2. It determines the circumstances in which promises made by parties to a contract will be legally binding.
3. The Act establishes essential elements for a valid contract such as offer, acceptance, lawful consideration, competent parties, and free consent.
The document provides an overview of the Indian Contract Act of 1872. It discusses key elements of a valid contract according to the act, including offer and acceptance, lawful consideration, capacity and consent of the parties, a lawful object, and certainty of terms. It also categorizes different types of contracts based on their creation (express, implied, tacit, quasi), validity (valid, void, voidable, illegal), execution (executed, executory), and liability (unilateral, bilateral). The Indian Contract Act of 1872 is an important law that regulates contracts and agreements in India.
This document provides an overview of contract law in India according to the Indian Contract Act of 1872. It defines key terms related to contracts such as offer, acceptance, agreement, consideration, void and voidable contracts. It discusses essential elements for a valid contract including free consent between parties and lawful purpose/object. Conditions for parties to have capacity to contract are explained, along with exceptions for minors and unsound individuals. Specific types of contracts like contingent contracts are also summarized. Various case studies are presented to illustrate contract law principles.
The document discusses key concepts related to contracts under Indian law, including the Indian Contract Act of 1872. It defines important terms like agreement, promise, offer, acceptance, consideration, and capacity to contract. It outlines essential elements for a valid contract and different types of contracts such as valid, void, illegal, and unenforceable contracts. It also covers concepts like free consent, coercion, undue influence, and misrepresentation that can impact the validity of a contract. In summary, the document provides a comprehensive overview of fundamental contract law principles as defined in the Indian Contract Act.
The document discusses key concepts related to contracts under the Indian Contract Act of 1872, including:
- A contract is defined as an agreement that is enforceable by law. There are essential elements for a valid contract including offer, acceptance, intention to create a legal relationship, consideration, capacity to contract, free consent, and legality of object.
- There are different types of contracts such as absolute contracts, contingent contracts, express contracts, implied contracts, valid contracts, and invalid contracts.
- An offer is a proposal made with intention to create a legal relationship, and there are different types of offers. Acceptance must meet certain criteria to be valid.
- Consideration refers to something of value that
The document discusses key concepts related to contracts under Indian law, including the definition of a contract, agreement, offer, acceptance, consideration, capacity to contract, and essential elements of a valid contract. It provides definitions and explanations for various types of contracts such as express and implied contracts, absolute and contingent contracts, and more. It also outlines legal rules pertaining to offer, acceptance, consideration, and capacity to contract. The document serves as a comprehensive overview of contract law fundamentals under the Indian Contract Act of 1872.
BCom Semester 1 Indian Contract Act 1872 संविदा अधिनियम के बारे मेFaizu21
This document defines key terms related to contracts under Indian law. It defines a contract as an agreement that is enforceable by law. It outlines the essential elements required for a valid contract, including offer and acceptance, intention to create a legal relationship, consensus between the parties, consideration, capacity to contract, free consent, legality of purpose, and possibility of performance. It also discusses different types of contracts like absolute versus contingent and express versus implied. Finally, it covers requirements around offer, acceptance, consideration and capacity to enter into a contract under Indian law.
This document provides an overview of contract law in India according to the Indian Contract Act of 1872. It defines key terms related to contracts such as agreement, promise, offer, acceptance and consideration. It outlines the essential elements required for a valid contract, including offer and acceptance, intention to create a legal relationship, consensus, consideration, capacity to contract, free consent, legality of object, possibility of performance, and writing and registration. It also discusses different types of contracts such as valid, invalid, express, implied, absolute, contingent, executed and executory contracts. Finally, it covers important aspects related to capacity to contract, including rules around minors and unsound persons entering into agreements.
The document discusses key concepts in contract law under the Indian Contract Act of 1872. It defines a contract as an agreement that is enforceable by law. The essential elements of a valid contract are offer and acceptance, intention to create a legal relationship, consensus between the parties, consideration, capacity to contract, free consent, legality of purpose, and possibility of performance. It also discusses different types of contracts such as express versus implied contracts, absolute versus contingent contracts, and valid versus invalid contracts. It provides details on important concepts like offer, acceptance, consideration, and capacity to contract.
The document discusses key concepts in contract law under the Indian Contract Act of 1872. It defines a contract as an agreement that is enforceable by law. The essential elements of a valid contract are offer and acceptance, intention to create a legal relationship, consensus between the parties, consideration, capacity to contract, free consent, legality of purpose, and possibility of performance. It also discusses different types of contracts such as express versus implied contracts, absolute versus contingent contracts, and valid versus invalid contracts. Key terms like offer, acceptance, and consideration are also defined in detail according to the Act.
The document discusses key concepts in contract law under the Indian Contract Act of 1872. It defines a contract as an agreement that is enforceable by law. The essential elements of a valid contract are offer and acceptance, intention to create a legal relationship, consensus between the parties, consideration, capacity to contract, free consent, legality of purpose, and possibility of performance. It also discusses different types of contracts such as express versus implied contracts, absolute versus contingent contracts, and valid versus invalid contracts. It provides details on concepts like offer, acceptance, consideration, and capacity to contract.
The document discusses key concepts in contract law under the Indian Contract Act of 1872. It defines a contract as an agreement that is enforceable by law. The essential elements of a valid contract are offer and acceptance, intention to create a legal relationship, consensus between the parties, consideration, capacity to contract, free consent, legality of purpose, and possibility of performance. It also discusses different types of contracts such as express versus implied contracts, absolute versus contingent contracts, and valid versus invalid contracts. It provides details on important concepts like offer, acceptance, consideration, and capacity to contract.
The document discusses key concepts in contract law under the Indian Contract Act of 1872. It defines a contract as an agreement that is enforceable by law. The essential elements of a valid contract are offer and acceptance, intention to create a legal relationship, consensus between the parties, consideration, capacity to contract, free consent, legality of purpose, and possibility of performance. It also discusses different types of contracts such as express and implied contracts. A valid contract requires all essential elements, while an invalid contract is missing one or more elements and may be void, voidable, illegal, or unenforceable.
The document discusses key concepts from the Indian Contract Act of 1872 such as the definitions of contract, agreement, promise, offer, acceptance, and consideration. It outlines the essential elements required for a valid contract according to Section 10 of the act. These include offer and acceptance, intention to create a legal relationship, consensus ad idem, consideration, capacity to contract, free consent, legality of object, and possibility of performance. The document also discusses different types of contracts such as valid, void, voidable, illegal, and unenforceable contracts. It elaborates on concepts such as capacity to contract, acceptance, offer, and consideration and provides the legal rules governing these concepts.
The document discusses key concepts in contract law under the Indian Contract Act of 1872. It defines a contract as an agreement that is enforceable by law. The essential elements of a valid contract are offer and acceptance, intention to create a legal relationship, consensus between the parties, consideration, capacity to contract, free consent, legality of purpose, and possibility of performance. It also discusses different types of contracts such as express versus implied contracts, absolute versus contingent contracts, and valid versus invalid contracts. It provides details on important concepts like offer, acceptance, consideration, and capacity to contract.
The document discusses key concepts in contract law under the Indian Contract Act of 1872. It defines a contract as an agreement that is enforceable by law. The essential elements of a valid contract are offer and acceptance, intention to create a legal relationship, consensus between the parties, consideration, capacity to contract, free consent, legality of purpose, and possibility of performance. It also discusses different types of contracts such as express versus implied contracts, absolute versus contingent contracts, and valid versus invalid contracts. It provides definitions and examples of important contract formation concepts like offer, acceptance, and consideration. Finally, it discusses capacity to contract and rules around who qualifies such as requirements around majority, soundness of mind, and prohibitions for certain groups
This document provides an overview of contract law in India. It defines key terms related to contracts such as agreement, promise, offer, acceptance, and consideration. It outlines the essential elements required for a valid contract according to Section 10 of the Indian Contract Act, 1872. It also discusses different types of contracts such as valid, void, voidable, illegal, and unenforceable contracts. The document elaborates on concepts such as capacity to contract, minors' agreements, and the rules governing persons of unsound mind. Overall, the document presents a comprehensive introduction to basic contract law principles in India.
The document discusses the key aspects of a valid contract under Indian law. It defines agreement, contract, offer, acceptance, consideration and other essential elements.
Some key points:
1. An agreement is a promise or set of promises with consideration. It becomes a contract if enforceable by law as per the Indian Contract Act.
2. Essential elements of a valid contract include offer and acceptance, lawful consideration, capacity of parties, free consent, lawful object and compliance with legal formalities.
3. An offer must be definite, communicated and accepted unconditionally for a contract to be valid. Consideration need not be adequate but must be real and lawful.
4. Only parties to
The document discusses the key aspects of contracts under the Indian Contract Act of 1872. It defines a contract as an agreement that is enforceable by law. The essential elements of a valid contract are offer, acceptance, intention to create a legal relationship, consideration, capacity of the parties, free consent, lawful object, and possibility of performance. It describes different types of contracts such as valid, void, voidable, illegal, and unenforceable contracts. It also discusses important contract law concepts like offer, acceptance, consideration, capacity to contract, and exceptions related to minors and persons of unsound mind.
The indian contract act, 1872 for classJasdeep Sran
The document discusses Indian contract law. It defines key terms like contract, agreement, offer, acceptance, consideration and consent. It explains essential elements of a valid contract and different types of contracts. It also covers capacity to contract, free consent, coercion, undue influence, fraud, misrepresentation and mistake. Finally, it discusses unlawful and void agreements.
This document provides an overview of key concepts in Indian contract law according to the Indian Contract Act of 1872. It defines important terms like contract, agreement, offer, acceptance and consideration. It outlines the essential elements for a valid contract and different types of contracts such as valid, void, illegal and unenforceable contracts. It also discusses capacity to contract, free consent, coercion, undue influence, fraud, mistake and unlawful objectives that can make agreements void. The document comprehensively covers major principles of contract formation and validity according to Indian law.
The document discusses the Indian Contract Act and key concepts related to contracts under Indian law. It defines a contract, agreement, promise, offer, acceptance and consideration. It outlines the essential elements of a valid contract including offer and acceptance, intention to create a legal relationship, consensus ad idem, consideration, capacity to contract, free consent, legality of object and possibility of performance. It also discusses different types of contracts such as valid, void, voidable, illegal and unenforceable contracts. It provides details on offer, acceptance, capacity to contract and free consent which are essential elements in the formation of a valid contract.
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STUDY OF MECHANICAL AND DURABILITY PROPERTIES OF GEOPOLYMER CONCRETEAbhilash Chandra Dey
This document summarizes a study that evaluated the durability of geopolymer concrete compared to ordinary Portland cement concrete when exposed to seawater. Two geopolymer concrete mixes using 8M and 14M sodium hydroxide solutions and one ordinary Portland cement concrete mix were prepared. Beams and cylinders made with each concrete mix were partially submerged in seawater and an accelerated corrosion test was performed on the reinforced beams by applying a voltage to induce corrosion. The time until cracking occurred due to corrosion was recorded and used to evaluate the durability performance of the different concrete mixes. The test results indicate that geopolymer concrete exhibited better resistance to chloride attack compared to ordinary Portland cement concrete.
This document provides a summary of a book on concrete bridge design according to BS 5400. The book aims to provide guidance on applying the limit state design code for concrete bridges by explaining its clauses and comparing them to previous design standards. It discusses analysis methods, loadings, material properties, design criteria, and worked examples to illustrate the code's application to bridge elements like beams, slabs, foundations and composite construction.
The document provides design details for a box culvert with internal dimensions of 3m x 3m. It includes specifications for parameters like live load, soil unit weight, concrete strength, reinforcement sizes and spacing. The design considers three load cases - dead and live load from outside with no water pressure inside; dead and live load from outside with water pressure inside; and dead load with water and earth pressure from outside. Moment distribution is used to calculate bending moments in the members under different load combinations. Reinforcement is designed to resist these bending moments.
ANALYSIS & DESIGN OF G+3 STORIED REINFORCED CONCRETE BUILDING Abhilash Chandra Dey
This document provides an analysis and design summary for a G+3 storied reinforced concrete building project. It outlines the aims, requirements, methodology, codes, and steps used for the structural design. Load combinations are defined according to Indian codes for gravity, seismic, and limit state design. Analysis was performed using STAAD Pro software, including modal analysis and equivalent static analysis. Results such as member forces, reactions, and concrete quantities are presented and compared to hand calculations. The summary provides an overview of the process and outcomes of analyzing and designing the main structural elements of the multi-story building.
This document provides details on various concrete surface finish techniques and materials. It discusses stucco/cement plaster finishes applied in scratch, brown, and finish coats. Other concrete finishes discussed include rubbed finish, brushed finish, tooled finish, sand-blasted finish, exposed aggregate finish, steel-troweled finish, and integral colored-cement finish. Granolithic and terrazzo floor finishes are also summarized. The document concludes with sections on tile finishes including cement tile, ceramic tile, and resilient floor finishes such as asphalt and vinyl tiles and sheets.
The document is a memorandum from the Government of Odisha Works Department announcing revisions to the Schedule of Rates for 2014 for 13 undivided districts in Odisha. It states that market prices for materials and labor rates have increased, necessitating an update to the existing Schedule of Rates. The new Schedule of Rates-2014 and supporting analysis are effective immediately and will be made available online. Various departments are copied on the memorandum for information and necessary action regarding implementation and circulation of the new rates.
Project planning and control by b.c.punmia and k.k.khandelwal civil enggforallAbhilash Chandra Dey
The document discusses the history of chocolate, describing how it originated from cacao beans grown by the Olmecs and Mayans in Mexico and Central America. It then explains how Spanish conquistadors brought cacao beans back to Europe in the 16th century, where it eventually became popular as a drink among the elite. Over time, chocolate became widely consumed in powder and solid forms across Europe and North America.
This document provides an overview of a book containing 200 questions and answers on practical civil engineering works. The book is intended to arouse interest in graduate engineers, assistant engineers, and engineers regarding technical aspects of civil engineering projects. It covers topics like bridge works, concrete structures, drainage works, earthworks, piers/marine structures, roadworks, pumping stations, reclamation works, water retaining structures, pipe jacking/microtunneling, piles/foundations, and general civil engineering questions. The author's goal is to explain the reasoning behind common engineering practices to help readers better understand the underlying principles.
This document provides an overview of traditional building materials used in civil engineering constructions, including stones, bricks, cement, lime, and timber. It describes the different types of stones based on their geological formation (igneous, sedimentary, metamorphic), physical structure (stratified, unstratified, foliated), and chemical composition (silicious, argillaceous, calcareous). The key properties of stones that determine their suitability for construction are discussed, such as strength, texture, density, appearance, hardness, porosity, weathering resistance, and ease of dressing. Common stones used in India like granite, trap, basalt, slate, marble, sandstone, and laterite are compared in terms of
This document provides tips and advice for preparing for and attending a job interview. It emphasizes the importance of being on time, dressing appropriately, researching the company, practicing interview questions, and having the right materials prepared. The key points are to make a good first impression, be prepared, and sell yourself as the best candidate for the job.
This document discusses various types and causes of cracks in buildings. It classifies cracks as either structural or non-structural and further categorizes them based on their width. Common causes of cracks include moisture movement, thermal variation, excessive loading, and foundation settlement. Plastic shrinkage, bleeding, delayed curing, and use of poor quality materials can lead to cracks in concrete before it hardens. Thermal expansion and contraction from temperature changes is another major cause of cracks. Various remedial measures are proposed to prevent or reduce cracking in structures.
The document discusses site investigation, which involves gathering subsurface information about a proposed construction project location. It describes the purpose, scope, and stages of a site investigation. The typical stages are a desk study, preliminary investigation including some boreholes, a detailed investigation with more boreholes and sampling, and monitoring during construction. Common investigation methods discussed are the standard penetration test, cone penetration test, and sampling techniques.
seminar report on concrete using of cementitios supplymentary materialAbhilash Chandra Dey
This document is a seminar report on investigating low-cost concrete using industrial waste as supplementary cementitious material. It was presented by Abhilash Chandra Dey to fulfill the requirements for a Bachelor of Technology in Civil Engineering from Veer Surendra Sai University of Technology, Sambalpur, India. The report discusses using hypo sludge and fly ash as partial replacements for cement in concrete mixes at various percentages. It describes designing an M20 grade concrete mix based on Indian standards as the control mix, and mixes replacing 10-40% of cement with industrial waste. The report presents results on the workability, compressive strength, and cost of the various mixes to determine the optimum replacement level.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
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Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
3. CONTRACT - According to sec.2(h), a
contract is defined as an agreement
enforceable before the law.
AGREEMENT - According to sec.2(e),
every promise or set of promises forming
consideration for each other.
PROMISE - According to sec.2(b),
when a person made a proposal to
another to whom proposal is made, if
proposal is assented there to.
4. OFFER - According to Sec.2(a), when a
person made a proposal, when he signifies
to another his willingness to do or to abstain
from doing something.
AGREEMENT = OFFER +
ACCEPTANCE
CONSENSUS - AD – IDEM-
According to Sec.13, meeting of minds or
identity of minds or receiving the same thing
in same sense at same time.
6. ESSENTIAL
ELEMENTS OF A VALID
CONTRACT (Sec.10)
1.Offer & acceptance.
2.Intention to create legal relationship.
3.Consensus - ad - idem.
4.Consideration.
5.Capacity to contract.
6.Free consent.
7.Legality of object.
8.Possibility of performance.
9.Writing & registration.
8. Valid contract - If all the condition
are fulfilled it is called as a valid contract.
Contingent contract - In a
contract to do or not to do something, if
an event is collateral, does or doesn't
happen.
Express contract - When
contracts are either in writing or in oral.
Implied contract - When contracts
are neither in writing nor in oral.
Absolute contract - A contract
which is not dependent on fulfillment of
any condition.
10. Invalid contract - In a contact if
any one condition is not fulfilled.
Is void (Void-ab-initio) - An
agreement which is not valid from
the beginning.
Becomes void - An agreement
which is valid in the beginning but
due to some supervening
impossibility the contract becomes
void.
11. Illegal contract - An agreement
forbidden by law.
Unenforceable contract - It is
valid but due to some technical
defect the contract becomes void. In
case defects are removed the
contract is enforceable.(lack of
registration, lack of signature etc.,)
Voidable contract - A
contract which is valid unless until
avoided by either the party.
13. Executed contract - In a contract where
both the parties have performed their
obligation, there is remaining nothing to
perform.
Executory contract - In a contract where
both the parties are yet to perform their
obligation.
Unilateral contract - In a contract one
party has performed his obligation and other
person is yet to perform his obligation.
Bilateral contract - In a contract where
both the parties have performed their
16. TYPES OF
OFFER
Express offer
Implied offer
Specific offer
General offer
Cross offer
Counter offer
Standing offer
17. Express offer - When offer is
given to another person either in writing
or in oral.
Implied offer - When offer is
given to another person neither in writing
nor in oral.
Specific offer - When offer is
given to a specific person.
General offer - When offer is
given to entire world at a large.(Carlill
Vs. Carbolic smoke ball Co.,)
18. Cross offer - When both the
persons are making identical offers to
eachother in ignorance of other’s offer.
Counter offer - When both the
persons are making offers to eachother
which are not identical in ignorance of
other’s offer.
Standing offer - An offer which
remains continuously enforceable for a
certain period of time.
19. LEGAL RULES FOR
OFFEROffer must be given with an intention
to create a legal relationship.(Balfour
Vs. Balfour)
Offer must be definite.(Taylor Vs.
Portington)
There is a clear cut difference
between offer, invitation to offer,
invitation to sale. (Harris Vs.
Nickerson)
20. Offer must be communicated. (Fitch
Vs. Snedkar)
Mere statement of price of price is not
an offer.(Harvey Vs. Facey)
22. ACCEPTANCE
According to sec.2(b), when a
person made a proposal to
another to whom proposal is
made, if proposal is assented
there to, it is called
acceptance.
23. LEGAL RULES FOR
ACCEPTANCE
• Acceptance must be given as per the
mode prescribed by the offerer.
• Acceptance must be given before the
lapse of time or within reasonable time.
• Acceptance must be unconditional.
• Acceptance may be given by any
person in case of general offer.
24. • Acceptance may be given by any
specific person in case of specific offer.
• Acceptance must be communicated.
(Bordgon Vs. Metropolitan Rly. Co.)
• Mental acceptance is no acceptance
or acceptance must not be derived from
silence.
• Acceptance must not be precedent to
offer.
26. According to sec 2(d) consideration is
defined as “when at the desire of the
promisor , or promisee or any other
person has done or abstained from doing
or does or abstains from doing ,or
promises to do or to abstain from doing ,
something , such an act or absinence or
promise is called a consideration for the
promise .
CONSIDERATIO
N
27. When a party to an agreement promises
to do something he must get
“something” in return .This “something”
is defined as consideration.
LEGAL RULES AS TO
CONSIDERATION
1)It must move at the desire of the promisor.
[Durga Prasad v. Baldeo ]
2)It may move by the promisee .
[Chinnaya v. Ramayya ]
3)It must be past ,present or future .
4)It need not be adequate .
5)It must be real .
6)It must not be illegal , immoral or opposed to
28. STRANGER TO CONTRACT
It is general rule of contract that only parties
to contract can sue & be sued on that
contract . This rule is known as ‘Doctrine of
privity’ i.e relationship between the parties
to contract .
Exceptions
1)A trust or a charge .
2)Marriage settlement , partition or other
family arrangements .
3)Estoppel
4)Assignment of contract .
5)Contract with agent .
6)Convenants running with land .
29. Contract without
consideration is void –
Exceptions
Love & affection .
[Venkataswamy v. Rangaswamy]
Compensation for voluntary service .
Promise to pay a time – barred debt .
Completed gift .
Agency sec (185) .
Charity .
Contract of bailment sec(148 ) .
32. Capacity to
contract
Following are the condition for a person
to enter into contract
He must be major
He must be sound mind
He must not be disqualified by any
other law.
33. Disqualified persons
to enter into a
contract
a) Minor
b) unsound person
c)others
i.e alien enemy,
insolvent,
convict,
company/corporationagainst MOA / AOA .
34. MinorMinor
According to Indian majority act sec(3)
minor is defined as any person under
the age of 18 years . In the following
cases a person is said to be minor if
he does not complete the age of 21
years
a) any person under the guardian &
wards act ,1890
b)any person which comes under
superintendence of law/legal
representative
35. Rules governing
minors agreement
Rule 1 : judges are counsellors ,
jury is the servant ,
law is the guardian .
Rule 2:in case minor entered into a
contract which is unlawful , illegal ,
immoral he is also prosecutable &
punishable under the relevant law.
36. Legal rules
An agreement with minor is void
ab initio
[Mohiri Bibi v. Dharmadas Ghase]
Minor can be promisee
[Shrafat Ali v. Noor Mohd]
Minor cannot ratify his agreement
on attaining the age of majority
[Indra Ramaswamy v. Anthiappa
Chettier]
37. Minor as a shareholder ,
Minor as a partner,
Minor as a agent ,
Minor as a member of trade union ,
No estoppel against minor ,
He can plead his minority ,
He can enter into contract for his
necessary
[Robert v. Gray ]
On behalf of minor his parents ,
guardian or any other person can
enter into void contract to acquire
movable property.
38. Unsound
person
According to sec(12) a person
generally sound , occasionally
unsound can enter into a
contract when he of sound mind
A person generally unsound
occasionally sound can enter
onto contract when he is sound
mind .
41. According to Sec 10 of the Indian
Contract Act one of the essentials of a
valid contract is “Free Consent”
Sec 13 defines “consent” as “Two or
more persons are said to consent when
they agree upon the same thing in the
same sense”.According to Sec 14,
consent is said to be free when it is not
caused by:
1.Coercion
2.Undue influence
3.Fraud
4.Misrepresentation
FREE CONSENT
42. According to Sec 15 coercion means
“Committing or threaten to commit any act
forbidden by Indian Penal Code 1860 or
unlawful detaining or threating to detaining
any other persons property with a view to
enter into an agreement. It is immaterial
whether the IPC is or is not in force where
the coercion is employed”
The threat amounting to coercion need
not necessarily be from a party to contract ,
it may also proceed from a stranger to the
contract.
COERCION
43. Consent is said to be caused by coercion when
obtained by:
1.The committing or threatening to commit any act
forbidden by the Indian Penal Code
2.The unlawful detaining or threatening to detain any
property
It is not important whether the IPC is or not in force
where the coercion is taking place.
For example A and B , both Indians are on a voyage
trip to America when the ship is on the Atlantic
ocean B threatens a that if doesn’t transfer his
property to B’s name then he will push him into the
water.now though the IPC is not in force on the
Atlantic ocean it is still considered a coercion.
44. 1.Chikkim Ammiraju vs. Seshamma:
In this case a person threatened his wife and son
that he would suicide if she doesn’t transfer her
property in his brother’s favour. The wife and
son executed the release of the deed under the
threat . Held the threat of suicide amounted to
coercion within Sec 15 and the release deed was
therefore voidable.
This also is a very important case
to prove that threat to commit
suicide amounts to coercion
Important
cases:
45. 2. Ranganayakamma vs. Alwar Setty:
A young widowed girl of 13 years was
forced to adopt a boy by her relatives who
prevented the removal of his body for
cremation until she consented. Held the
consent was not free but was induces by
coercion.Consequently the adoption was
set aside.
46. 3.Muthia vs. Muthu Karuppa:
An agent refused to hand over the
account books of a business to the
new agent unless the principal
released him from all liabilities.the
principal had to give a release
deed.held the deed was
given under coercion
and was voidable
at the option of the
principal.
47. 4. Bansraj vs. Secretary of State:
The government gave a threat of
attachment against the property of
P for the recovery of the fine due
from his son. P paid the fine. Held
contract was
induced by
coercion
48. UNDUE INFLUENCE
Sometimes a party is compelled to enter into a
contract against his will as a result of unfair
persuasion by the other party.
Section 16 defines undue influence as follows
A contract is said to be induced by “undue
influence”where the relations subsisting
between the parties are such that one of the
parties is in a position to dominate the will of
the other and uses that position to obtain an
unfair advantage over the other
49. Essentials of undue
influence
1. There are two persons
2. The relations are satisfying between them
3. One must dominate the other
4. There must be unfair advantage
5. It involves the moral pressure
50. There is an undue influence between the
following persons:
-Principal and agent
-Superior and and subordinate
- Doctor and patient
- Father and son
- Teacher and student
- Promoter and company
- Master servant
- Spiritual advisor and devotee
51. Among the following relations there is no undue
influence
1.wife and husband
2.landlord and tenant
3.debtor and creditor
CASE: Raniannapurna vs. Swaminathan
A poor Hindu widow was persuaded by a money
lender to agree to pay 100% rate of interest on
money lent by him. She needed the money to
establish her right to maintenance.it was a clear case
of undue influence and the court reduced the rate of
interest to 24%
52. FRAUD
According to Sec 17 fraud means and includes any of
those acts committed by a party to contract or with his
connivance or by his agent with an intent to deceive or
induce a person to enter a contract:
1. The suggestion that a fact is true when it is not
true and the person making it does not believe in
itto be true
2. The active concealment of a fact by a person
having knowledge or belief of the fact
3. A promise made without any intention of
performing it
4. Any other act fitted to deceive
5. Any such act or omission as the law specially
declares to be fraudulent
53. The essentials of fraud are:
1. There must be a representation or
assertion and it must be false
2.The representation must relate to a fact
3.The representation must have been
made with the intention of inducing the
other party to act upon it
4.the representation must have been made
with a knowledge of its falsity
5.the other party must have subsequently
suffered some loss
54. According to Sec 18 there is misrepresentation:
1. When a person positively asserts a fact is true
when his information does not warrant it to be
so, though he believes it to be true
2. When there is any Breach of duty by a person
which brings an advantage to the person
committing it by misleading another to his
prejudice
3. When a party causes however innocently the
other party to the agreement to make a mistake
as to the substance of the thing which s the
subject of the agreement
MISREPRESENTATIO
N
55. Babul vs. R.A.Singh:
M was a marriage broker who gave Y the
photograph of a man and told him that the man
was young and rich. Y conveyed the same to his
daughter who agreed for the proposal. But on the
day of marriage it was discovered that the man
was the age of 60. There is fraud between M and
Y. whereas the is misrepresentation between Y
and his daughter.
Important case:
56. MISTAKE
Mistake of fact
Of the
country
Of the foreign
country Bilateral mistake Unilateral mistake
Mistake as to subject matter Mistake as to
possibility
As to
person
As to
nature
Physical impossibility Legal impossibility
existence identity quality quantity title price
Mistake of law
58. Unlawful agreements
illegal immoral Agreement opposing
public policy
wager
An agreement which
interferes with
administration of
government
An agreement
interfering with the
administration of justice
An agreement interfering
with administration of
personal liberties
Restraint of Restraint of Restraint of
Restraint of Restraint of
59. If the object of an agreement is the
performance of an unlawful act, the
agreement is unenforceable.
For a contract to be valid only if the object
and the consideration should be legal.
The word object means purpose or design.
UNLAWFUL OBJECT
60. An agreement forbidden by law [Sec 23]
An agreement defecting any provisions of law [Sec 24]
Case: Alexander vs. Rayson
A leased a flat to R at a rent of 1,200
pounds.with the object of deceiving the
rating authority two agreements were
entered, one for 450 pounds and one for
750 pounds. A sued R for recovery of an
installment of 750 pounds. Held A could
not recover and R was entitled to remain
in possession of the flat.
Unlawful agreements
61. If it is immoral
Case: S.Yellappa vs. Y.Sabu
Cohabitation agreements are immoral
Sumitradevi vs. Sulekha Kundu
An agreement between a husband and wife to
separate in future is immoral and void
An agreement opposed to public policy
62. If it is fraudulent
If it is creating damage to person or property
Case: Ramswaroop vs. Bansimandir
B borrowed Rs. 100 from L and executed
a bond promising to work for L without
pay for a period of two years.In case of
default B was to pay interest at a very
exorbitant rate and the principal sum of
once. Held the contract was void as it
involved injury to the person of B.
63. ESSENTIAL
ELEMENTS OF
WAGER
There are two persons.
There must be an uncertain future event.
No control over the event by both the
parties.
There must be a reciprocal promise.
Others are not interested in the contract.
64. Wager Contract (Sec 30)
A wager contract is a contract in which one
person promises to another to pay money
or money’s worth by the happening of an
uncertain future event in consideration for
other person’s promise to pay if the event
does not happen.
65. Essential Elements of
Wagering
There are two persons.
There must be an uncertain future event.
No control over the event by both the
parties.
There must be a reciprocal promise.
Others are not interested in the contract.
66. Example:
In a wrestling bout, A
tells B that wrestler
no.1 will win. B
challenges the
statement of A. They
bet with each other
over the result of the
bout. This is a
wagering agreement.
68. Contingent Contract(sec 31)
A contingent contract is a contract to do or
not to do something, if some event,
collateral to such contract, does or does not
happen. It is also called a conditional
contract.
69. Essential Elements of a
Contingent Contract:
There are two persons.
There must be an uncertain future event.
Some control over the event but not
absolute control.
There is no reciprocal promise between the
persons.
Others may be interested in the contract.
It is a valid contract.
70. Example:
A contracts to pay B
Rs.10,000 if B’s
house is burnt. This is
a contingent contract.
71. Rules Regarding Contingent
Contracts
Contingent contracts dependent on happening of an
uncertain future event cannot be enforced until the
event has happened.( Sec 32 )
Where a contingent contracts is to be performed if
a particular event does not happen, its performance
can be enforced when the happening of that event
becomes impossible.( Sec 33 )
If a contract is contingent upon how a person will
act at an unspecified time, the event shall be
considered to become impossible when such person
does anything which renders it impossible that he
should so act within any definite time, or otherwise
than under further contingencies.( Sec 34)
72. Contingent contracts to do or not to do
anything, if a specified uncertain event does
not happen within a fixed time, may be
enforced if the event does not happen or its
happening becomes impossible before the
expiry of that time.( Sec 35 )
Contingent agreements to do or not to do
anything, if an impossible event happens,
are void, whether or not the fact is known to
the parties. (Sec 36)
73. Differences Between a Wagering
Agreement and a Contingent
Agreement:
Wager agreement
There is a reciprocal
promise.
It is a void contract.
Others are not
interested in the
contract.
It is contingent in
nature.
Contingent agreement
There is no reciprocal
promise.
It is a valid contract.
Others are interested in
the contract.
It may not be wagering
in nature.
75. DISCHARGE OF A
CONTRACT
DISCHARGE BY PERFORMANCE
DISCHARGE BY AGREEMENT OR
CONSENT
DISCHARGE BY IMPOSSIBILITY OF
PERFORMANCE
DISCHARGE BY LAPSE OF TIME
DISCHARGE BY OPERATION OF LAW
DISHARGE BY BREACH OF CONTRACT
76. DISCHARGE BY
PERFORMANCE
ACTUAL PERFORMANCE
When both parties perform their
promises & there is nothing remaining to
perform
ATTEMPTED PERFORMANCE
When the promisor offers to
perform his obligation ,but promisee
refuses to accept the performance. It is
also known as tender
77. DISCHARGE BY
AGREEMENT OR
CONSENT NOVATION (Sec 62): New contract substituted for
old contract with the same or different parties
RESCISSION (Sec 62) : When some or all terms of a
contract are cancelled
ALTERATION (Sec 62):When one or more terms of
a contract is/are altered by the mutual consent of
the parties to the contract
REMISSION (Sec 63) :Acceptance of a lesser
fulfilment of the promise made.
WAIVER :Mutual abandonment of the right by the
parties to contract
MERGER :When an inferior right accruing to a
party to contract merges into a superior right
accruing to the same party
78. DISCHARGE BY
IMPOSSIBILITY OF
PERFORMANCE
KNOWN TO PARTIES
UNKNOWN TO PARTIES
SUBSEQUENT IMPOSSIBILITY
SUPERVENNING IMPOSSIBILITY (Sec 56)
Destruction of subject matter
Non-existance of state of things
Death or incapacity of personal services
Change of law
79. DISCHARGE BY
LAPSE OF TIME
THE LIMITATION ACT 1963,
CLEARLY STATES THAT A
CONTRACT SHOULD BE
PERFORMED WITHIN A SPECIFIED
TIME CALLED PERIOD OF
LIMITATION
IF IT IS NOT PERFORMED AND IF
THE PROMISEE TAKES NO ACTION
WITHIN THE LIMITATION TIME,
THEN HE IS DEPRIVED OF HIS
REMEDY AT LAW
80. DISCHARGE BY
OPERATION OF LAW
DEATH
MERGER
INSOLVENCY
UNAUTHORISED ALTERATION OF THE
TERMS OF A WRITTEN AGREEMENT
RIGHTS & LIABILITIES VESTING IN THE
SAME PERSON
81. DISCHARGE BY
BREACH OF
CONTRACT
ACTUAL BREACH :
At the time of performance
During the performance
ANTICIPATORY BREACH
By the act of promisor
(implied repudation)
By renunciation of obligation
(express repudation)
83. REMEDIES OF
INJURED PARTY
A remedy is a means given by law for the
enforcement of a right
Following are the remedies
[1] Rescission of damages.
[2] Suit upon quantum meruit.
[3] Suit for specific performance.
[4] Suit for injunction.
84. RESCISSION
When a contract is broken by one party,the other
party may sue to treat the contract as rescinded
and refuse further performance.In such a case,he is
absolved of all his obligations under the contract.
The court may give rescission due to
1)contract is voidable.2)contract is unlawful
The court may refuse to rescind if
1)Plaintiff has ratified the contract.2)Parties cannot
be restored to the original position.3)The third
party has acquired for value.4)When only a part is
sought to be rescinded.(sec 27 of specific relief act
1937)
85. DAMAGES
Damages are a monetary compensation
allowed to the injured party by the court for the
loss or injury suffered by him by the breech of
the contract.The objective of awarding damages
for the breech of contract is to put the injured
party in the same position as if he had not been
injured.This is called the doctrine of
restitution.The fundamental basis is awarding
damages for the pecuniary loss.
86. QUANTUM
MERUIT
The phrase quantum meruit literally means ‘as
much as earned’.A right to sue on a quantum
meruit arises when a contract, partly performed
by one party,has been discharged by breach of
contract by the other party.This right is
performed not on original contract but on implied
promise by other party for what has been done.
87. SPECIFIC
PERFORMANC
E In certain cases of breach of contract damages are
not an adequate remedy.The court may,in such
cases,direct the party in breach to carry out his
promise according to terms of the contract.This is
a direction by the court for specific performance
of the contract at the suit of the party not in breach
Cases for specific performance to be enforced
1)when the act agreed to be done is such that
compensation is not adequate relief.2)when there
is no standard for ascertaining the actual damage
3)when it is probable that compensation cannot
be agreed to be done.
88. INJUNCTIONINJUNCTION
When a party is in breech of a negative term of
contract the court may,by issuing an
order,restrain him by doing what he promised
him not to do. Such an order of the court is called
injunction
Court refuses grant of injunction
[1] whereby a promisor undertakes not to do
something
[2] which is negative in substance though not in
form
90. TYPES OF QUASI
CONTRACTS
– Supply of necessaries (Sec 68)
– Payment by a interested person (Sec 69)
– Obligation to pay for non gratuitous acts
(Sec 70 )
– Responsibility of finder of goods (Sec 71 )
– Mistake or Coercion (Sec 72 )
91. SUPPLY OF
NECESSARIES
According to sec 68 a minor is liable to pay out
of his property for ‘necessaries’ supplied to him or
to anyone whom he is legally bound to
support.The significance of this is that it does not
arise out of a contract as much so as it arises out of
a contract.the minor is not personally liable and
‘necessaries’ include food,clothing as well as
education,They also include watch bicycle etc.
92. OBLIGATION TO PAY
FOR NON GRATUITOUS
ACTSAccording to Sec 70 when a person lawfully does or
delivers anything for the other ,not intending to do
so gratuitously,and the person derives any benefit
from it,he is liable to compensate,or restore the
thing so done or delivered.
Here three conditions must satisfy
[1] The thing must have been done lawfully
[2] The person intending to do it must not have done
it gratuitously
[3] The person must have derived benefit from the act
93. PAYMENT BY A
INTERESTED PERSON
According to Sec 69 a person who is interested in
the payment of money which another is bound by
law to pay,and who therefore pays it, is entitled to
be reimbursed by the other.
The essential elements center around
[1] The payment made should be bona fide of ones
interest
[2] The payment should not be a voluntary one
[3] The payment must be such that the other is
bound by law to pay
94. RESPONSIBILITY OF
THE FINDER OF
GOODSAccording to Sec 71 a person who finds goods
belonging to another and takes them into his
custody is subject to the same responsibility as the
bailee is bound to take as much care of the goods as
a man of ordinary prudence would,In addition to
that he must make efforts to trace the owner.If he
does not ,he will be guilty of wrong
conversation,and till the owner is found out the
property will vest with the finder,he can sell in case
of
[1] goods are or perishable nature
[2] owner cannot be found out
[3] when owner refuses to pay for the lawful charges
[4] when the lawful charges amount to two thirds of
96. INDEMNITY (Sec
124)
A CONTRACT BY WHICH ONE
PARTY PROMISES TO ANOTHERR TO
SAVE HIM FROM LOSS CAUSED TO
HIM BY THE CONDUCT OF THE
PROMISOR HIMSELF , OR BY THE
CONDUCT OF ANY OTHER PERSON IS
CALLED A CONTRACT OF INDEMNITY
97. ESSENTIAL
FEATURES OF
INDEMNITY There are two persons , the indemnifier
the indemnified or the indemnity holder
There must be loss either by the
promisor’s conduct or by any other
person’s conduct
It is a contingent contract by nature
It may be express or implied
Sec125 deals with the commencement
of the indemnifier’s liability. His liability
commences when the event causing the
loss occurs or when the event saving the
indemnified from the loss becomes
impossible
99. GUARANTEE
(Sec 126)
A CONTRACT OF GUARANTEE IS A CONTRACT TO
PERFORM THE PROMISE, OR DISCHARGE THE
LIABILITY,OF A THIRD PERSON IN CASE OF HIS
DEFAULT. THE PERSON WHO GIVES THE
GUARANTEE IS KNOWN AS THE ‘SURETY’, THE
PERSON IN RESPECT OF WHOM THE GUARANTEE
IS GIVEN IS KNOWN AS THE ‘PRINCIPAL DEBTOR’,
AND THE PERSON TO WHOM THE GUARANTEE IS
GIVEN IS CALLED THE ‘CREDITOR’. A
GUARANTEE MAY BE EITHER ORAL OR WRITTEN.
100. ESSENTIAL
FEATURES OF
GUARANTEE
Concurrence of three contracts
Primary liability is that of the principal debtor
In case the debtor is a minor , the surety’s
liability becomes primary
All the essentials of a valid contract
It may be in writing or oral
There need not be full disclosure of facts to the
surety before he gives the guarantee
101. TYPES OF
GUARANTEE
SPECIFIC GUARANTEE :
When a guarantee extends to a single
transaction or debt it is known as a specific or
simple guarantee
CONTINUING GUARANTEE :
When a guarantee extends to a series of transactions
It is called continuing guarantee
103. BAILMENT Sec 148
The word Bailment is derived from the French
word “ballier” which means “to deliver” .
Bailment means delivery of goods by one person
to another for some purpose ,upon a contract ,that
they shall ,when the purpose is accomplished ,be
returned or otherwise disposed of according to
the instructions of the person delivering them.
The person delivering the goods is called the
‘bailor’ and the person to whom they are
delivered is called the ‘bailee’.
104. Essentials ofEssentials of
bailmentbailment
There are two persons namely Bailor and
Bailee.
Bailor means the person delivering the
goods, Bailee means the person to whom
the goods are delivered.
Their must be delivery of goods .
The goods must be in deliverable
condition.
105. Only the goods are delivered but not
the ownership of goods, their must be
purpose.
Bailey can use the goods.
Goods must be returned or disposed off
after the purpose is accomplished.
106. Duties and rights of
Bailor and Bailee
Duties of bailor.
To disclose known faults.
To bear extraordinary expenses of
bailment.
To indemnify bailee for loss in case of pre
mature termination of gratuitous bailment.
To receive back the goods.
To indemnify the bailee.
107. Rights of
bailor
Enforcement of rights.
Avoidance of contract. (Sec153)
Return of goods lent gratuitously. (Sec 159)
Compensation from a wrong –doer. (Sec 180)
108. Rights of
bailee
Delivery of goods to one of several joint
bailor of goods. (Sec 165).
Delivery of goods to bailor without title.
(Sec 166).
Right to apply to court to stop delivery.
(Sec 167)
Right to action against trespassers. (Sec
180)
Bailee’ s lien.
110. PLEDGE (SEC
172)
The bailment of goods as security for
payment of a debt or performance of a
promise is called “Pledge”.
The bailor in this case is called the
“pledger” or “pawnor” and the bailee is
called the “pledgee” or “pawnee”
111. RIGHTS AND DUTIES OF
PAWNOR AND PAWNEE
Rights of Pawnee.
Right of retainer.
Right of retainer for subsequent advances.
Right to extraordinary expenses.
Right against true owner, when the
Pawnor’s title is defective.
Pawnee’s rights where pawnor makes
default .
112. Rights of Pawnor
Right to get back goods.
Right to redeem debt.
Presentation and maintenance of the goods.
Rights of an ordinary debtor.
114. AGENT
Sec 182 defines an agent as a
person employed to do any
act for another , or to
represent another in
dealings with third
personsthe person for
whom such act is done is s
called the principal
115. ESSENTIALS OF
RELATIONSHIP OF
AGENCY
Agreement between principal & agent
Intention of agent to act on behalf of the
principal
Anyone can be an agent
Anyone can employ an agent
116. CREATION OF
AGENCY
BY EXPRESS AGREEMENT
BY IMPLIED AGREEMENT
Agency by estoppel
Agency by holding out
Agency by neccesity
AGENCY BY RATIFICATION
AGENCY BY OPERATION OF LAW
117. REQUISITES OF
VALID
RATIFICATION Agent must act as an agent for his principal
Principal must be in existance at the time of contract
Ratification must be with full knowledge of facts
Ratification should be done within a reasonable time
of the performance of the act
The act to be ratified should be of lawful nature
The ratification can be done only to the whole
transaction & not any part of it (Sec 199)
Ratification should be communicated with the party to
contract
Ratification should not cause any damages to a third
party
Ratification can only be of acts which principal had
the right to do
118. SUB-AGENT &
SUBSTITUTED
AGENT
A sub agent is aperson employed & acting
under the control of the agent in the
business of the agency (Sec 191)
A substituted agent is a person named by the
agent, on an express or implied authority
from the principal, to act for the principal
(Sec 194)
119. DIFFERENCES BETWEEN SUB- AGENT &
SUBSTITUTE-AGENT
SUB-AGENT
1. He works under the
agent
2. There is no contact
between the agent &
the principal
3. Agent is wholly &
solely responsible for
the acts of the sub-
agent
SUBSTITUTE AGENT
1. He works under the
pprincipal
2. There is a contract
between him & the
principal
3. Agent is in no way
responsible for the
acts of the substituted
agent
120. Termination of agency
By act of parties
Agreement
Revocation by the principal
Revocation by the agent
By operation of law
Performance of the contract
Expiry of time
Death of either party
Insanity of either party
Insolvency of either party
Destruction of the subject matter
Principal becoming an alien enemy
Dissolution of a company
Termination of sub-agents authority