1. Prepared by:
Asif Bhaiyat
Roll no:1201

2.  Contracts:-
 A contract is a agreement between two or more parties.
 For example:
 A person when he gives clothes for cleaning, or when he buys milk,
bread or biscuit, or when he goes to the auditorium to see a movie, he is
entering into a contract.
 Agreement:-
 It is an offer when accepted becomes an agreement.
 For example:
 Vishal invites his friend Pinkal to a dinner, and Pinkal accepts the
invitation. If Pinkal fails to turn up for dinner, Vishal cannot go to the
court to claim his loss.

3. 1. Agreement-offer and acceptance:-
 There must be a “lawful offer” and a “lawful
acceptance” of the offer. The offer and acceptance must
satisfy the requirement of the contract.
2. Intention to create Legal Obligation:-
 There must be an intention among the parties that the
agreement should be attached by legal and create legal
obligation.
 For example:-
 Agreement between husband wife also lack the intention to
create legal relationship and thus do not result in contracts.

4. 3.Contractual Capacity of Parties:-
 The parties to an agreement must be competent to
contract; otherwise it cannot be enforced by a court of
law.
4.Lawful Consideration:-
 It has been define as the price paid by one party for the
promise of the other.
 An agreement is a legally enforceable only when each
of parties to it gives something and gets something.
 For example:-
 A agrees to sell his books to B for rs.100, B‟s promise to pay
rs.100 is the consideration for A„s promise to sell his book and
A‟s promise to sell the book is the consideration for B‟s promise
to pay rs.100

5. 5.Lowful Object:-
 The objective must be legal or lawful.
 For example:-
 When landlord knowingly lets a house to a prostitute to carry
on prostitution, he cannot recover the rent through a court of
law.
6.Free Consent of party:-
 It means parties must have agreed upon the same thing
in the same sense.
 For example:-
 A threatened to shoot B if B does not lend him rs.2000 and B
agreed to it.
7.Agreement not declared void:-
 The agreement must not be one, which the law declares
to be either illegal or void.

6.  For example:-
 Marriage , legal proceedings, etc., are void
agreement, where as murder or other prohibited
agreement are illegal.
8.Writing and Registration:-
 it may be oral or in writing
 For example:-
 To pay a time barred debt must be in writing and to make a gift
for natural love and affection must be in writing and
registered.
9.Possibility of performance:-
 An agreement to do an act impossible in itself is void.
 For example:-
 „H‟ agrees with „G‟ to discover treasure by magic and „G‟ agrees
to pay rs.5000 to „H‟

7. Thank you