BUSINESS LAW
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- The document discusses the key aspects of contract law including the definition of a contract, essential elements for a valid contract such as offer, acceptance, consideration, capacity and legality. - It also covers types of contracts such as express, implied, unilateral, bilateral contracts and modes of their discharge such as performance, agreement, impossibility. - Remedies for breach of contract including damages, rescission, injunction and specific performance are also summarized. The document is presented by Dr. Mukesh Agarwal, an author of several books on legal topics.
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1 Modulo - Negociação - Bloco 4
O documento descreve os elementos básicos do processo de negociação, incluindo: o contexto, interesses, opções, relacionamento, alternativas, comunicação, tempo, legitimidade, concessões e compromissos. Explica brevemente cada um destes elementos e sua importância para uma negociação eficaz.
Lecture 6.
The document discusses various aspects of free consent in contracts under Indian law. It defines consent, coercion, undue influence, fraud, and mistake. It provides examples and explanations for when consent is not considered free due to these factors. Consent obtained through coercion, undue influence, fraud, or mistake may make a contract voidable.
Legality of object
1. The document discusses the legality of consideration and objects in a contract.
2. For a consideration or object to be lawful, it cannot be forbidden by law, defeat any law, be fraudulent, injure others, or be regarded as immoral or against public policy by the courts.
3. Agreements are void if any part of the consideration or object is unlawful.
Breach of Contract & Remedies
This document discusses breach of contract and remedies for breach. It defines breach of contract and explains that there are remedies available at law, such as damages, and in equity, such as specific performance, injunctions, rescission and restitution, and reformation. It provides details on different types of damages including compensatory, consequential, punitive, and nominal damages. It also explains the requirements and applications of equitable remedies.
Contract and its kinds
This document defines a contract and the essential elements for a valid contract, including offer, acceptance, and consideration. It distinguishes between agreements that are valid contracts and those that are void. A valid contract is enforceable by law if it fulfills the basic essentials. A void contract was initially valid but becomes unenforceable due to factors like becoming impossible to perform. In contrast, a void agreement is not enforceable from the start due to defects like the parties not being competent or the consideration being unlawful.
The Indian Contract Act, 1872
The document provides an overview of the Indian Contract Act of 1872 which establishes the laws of contracts in India. It contains 10 chapters that cover topics such as communications and acceptance of proposals, formation of valid contracts, contingent and void agreements, performance of contracts, consequences of breach of contracts, indemnity, guarantee, bailment, and pledge. The Act defines key terms and concepts and outlines the rights and obligations of parties in contractual agreements and relationships.
Business law contract act
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.
Contract law
The document summarizes key concepts around contracts from a PowerPoint presentation on business and online commerce law. It discusses the basic elements of a contract including agreement between two parties, consideration in exchange for a promise, and lawful purpose. It also classifies different types of contracts according to their formation, enforceability, and performance. Key terms like offer, acceptance, consideration, and gift promises are defined. International contracts are also briefly addressed through the UN Convention on Contracts for the International Sale of Goods.
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1 Modulo - Negociação - Bloco 4
O documento descreve os elementos básicos do processo de negociação, incluindo: o contexto, interesses, opções, relacionamento, alternativas, comunicação, tempo, legitimidade, concessões e compromissos. Explica brevemente cada um destes elementos e sua importância para uma negociação eficaz.
Lecture 6.
The document discusses various aspects of free consent in contracts under Indian law. It defines consent, coercion, undue influence, fraud, and mistake. It provides examples and explanations for when consent is not considered free due to these factors. Consent obtained through coercion, undue influence, fraud, or mistake may make a contract voidable.
Legality of object
1. The document discusses the legality of consideration and objects in a contract.
2. For a consideration or object to be lawful, it cannot be forbidden by law, defeat any law, be fraudulent, injure others, or be regarded as immoral or against public policy by the courts.
3. Agreements are void if any part of the consideration or object is unlawful.
Breach of Contract & Remedies
This document discusses breach of contract and remedies for breach. It defines breach of contract and explains that there are remedies available at law, such as damages, and in equity, such as specific performance, injunctions, rescission and restitution, and reformation. It provides details on different types of damages including compensatory, consequential, punitive, and nominal damages. It also explains the requirements and applications of equitable remedies.
Contract and its kinds
This document defines a contract and the essential elements for a valid contract, including offer, acceptance, and consideration. It distinguishes between agreements that are valid contracts and those that are void. A valid contract is enforceable by law if it fulfills the basic essentials. A void contract was initially valid but becomes unenforceable due to factors like becoming impossible to perform. In contrast, a void agreement is not enforceable from the start due to defects like the parties not being competent or the consideration being unlawful.
The Indian Contract Act, 1872
The document provides an overview of the Indian Contract Act of 1872 which establishes the laws of contracts in India. It contains 10 chapters that cover topics such as communications and acceptance of proposals, formation of valid contracts, contingent and void agreements, performance of contracts, consequences of breach of contracts, indemnity, guarantee, bailment, and pledge. The Act defines key terms and concepts and outlines the rights and obligations of parties in contractual agreements and relationships.
Business law contract act
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.
Contract law
The document summarizes key concepts around contracts from a PowerPoint presentation on business and online commerce law. It discusses the basic elements of a contract including agreement between two parties, consideration in exchange for a promise, and lawful purpose. It also classifies different types of contracts according to their formation, enforceability, and performance. Key terms like offer, acceptance, consideration, and gift promises are defined. International contracts are also briefly addressed through the UN Convention on Contracts for the International Sale of Goods.
Negotiable instrument act 1881 & Types of Negotiable Instrument
In this presentaion concept of negotiable instrument, types of negotiable instrument, holder and holder in due course, endorsement , how endorsement is done, kinds of endorsement insturment obtain by unlawful means and dishonor is included.
Consideration and valid consideration
This document discusses consideration and the essential elements required for a valid contract. It defines consideration as the price for which a promise is made. An example is provided of a sale agreement where the factory price is the consideration. Essential elements of consideration include it being real, moving at the desire of the promisor, and not being something the promisor is already bound to do. The document outlines different types of consideration like present, past, and future consideration. It also discusses capacity of parties, void agreements, and factors like coercion, undue influence, fraud, and misrepresentation that can invalidate an agreement due to lack of free consent.
Contract of Indemnity and Guarantee
This document provides an introduction to contracts of indemnity and guarantee under Indian contract law. It defines a contract of indemnity as one where one party promises to save another from loss caused by the conduct of the promisor or a third party. A contract of guarantee is defined as a promise to perform or discharge the liability of a third party in case of their default. The key parties in each are identified. Essentials and rights under each contract are outlined, along with differences between the two types of contracts.
Negotiable instruments act1881
The document provides an overview of negotiable instruments under Indian law, including the Negotiable Instruments Act of 1881. It defines key terms like promissory notes, bills of exchange, cheques, negotiation and endorsement.
It outlines the essential elements and parties involved in different types of negotiable instruments. Promissory notes require a maker who promises to pay a sum to a payee. Bills of exchange require a drawer, drawee and payee. Cheques are drawn on a specified banker and payable on demand.
Negotiation allows an instrument to be transferred, making the transferee the new holder. This can occur through delivery for bearer instruments or endorsement and delivery for instruments payable
1 Modulo - Negociação - Bloco 3
O documento descreve as etapas do processo de negociação: 1) Preparação com planejamento e coleta de informações; 2) Criação de valor identificando oportunidades mutuamente benéficas; 3) Distribuição de valor trocando as oportunidades identificadas. A implementação e avaliação monitoram o cumprimento dos acordos para manter o relacionamento.
Six elements of a contract
This document summarizes the six elements of a valid contract: 1) offer, which is a proposal made with serious intent by an offeror to an offeree; 2) acceptance, which is an unqualified agreement to the offer's terms without modification; 3) genuine agreement between the parties to create a final contract; 4) consideration, which is the exchange of benefits and detriments by the parties; 5) contractual capacity of the parties to enter into an agreement; and 6) legality in accordance with civil and criminal law as well as public policy.
Privado ii unidad 11 - parte 1
El documento resume los contratos de factoraje y leasing. El factoraje es un contrato de financiamiento donde una parte, el factor, adquiere los créditos de la otra parte, el factoreado, otorgando anticipos y asumiendo o no los riesgos de cobro. El leasing es un contrato donde una parte, el dador, transfiere a la otra, el tomador, la tenencia de un bien para su uso a cambio del pago de un canon, con una opción de compra. Ambos contratos son importantes herramientas de financiamiento empresarial.
Termination of Contract
This presentation is one of my assignment in Business Law Class in Sampoerna University. This presentation is about Termination of Contract.
Slide: PowerPoint 2013
Design by: Hedi Fauzi
Image: Google Image
If you want the original file for your reference, feel free to ask me via email: hedi.fauzi@hotmail.com with subject [SlideShare] (Your Subject)
Types of Contract
There are several ways that contracts can be classified. A valid contract is enforceable by law when all essential elements are present. A void contract is not legally binding, such as an illegal agreement. A voidable contract is enforceable by one party but not the other, like a contract signed under coercion. An unenforceable contract cannot be enforced due to technical issues. Contracts are also classified as unilateral, bilateral, executed, or executory based on the performance of obligations by each party. Express contracts explicitly state terms, while implied contracts rely on actions and conduct. A constructive contract is recognized by law due to special circumstances rather than agreement.
Termination of contract
This document discusses different ways in which a contract can terminate in Nepal. It outlines that a contract can terminate through performance, mutual agreement, impossibility or illegality, lapse of time, operation of law, or breach of contract. It provides examples of each type of termination, such as destruction of the subject matter making performance impossible or a change in law making the contract illegal. The document also notes that a contract will not terminate simply due to difficulties in performance or changes in profitability, and outlines circumstances where subsequent impossibility does not excuse non-performance.
Proatividade
O documento discute o conceito de proatividade no ambiente de trabalho. A proatividade é definida como a capacidade de prever problemas e agir de forma antecipada para evitá-los ou amenizá-los, buscando mudanças e melhorias que beneficiem a organização a longo prazo. Pessoas proativas tendem a ter mais chances de promoção e aumento salarial, ao passo que funcionários reativos costumam ser os primeiros a serem demitidos quando há corte de custos.
Bills of exchange 7
This document defines bills of exchange and promissory notes under Indian law. It provides key details about the parties involved, features, types and differences between bills of exchange and promissory notes. Bills of exchange require three parties - a drawer, drawee and payee, while promissory notes only require a maker and payee. Bills of exchange must be accepted to be valid, while promissory notes do not require acceptance since the maker is already liable. The document also provides examples of each instrument.
Contract of indemnity and guarantee
A contract of indemnity involves one party promising to save another from loss caused by the promisor's own conduct or a third party. Key parties are the indemnifier and indemnified. A contract of guarantee involves promising to perform or discharge a third party's liability in case of default. It includes a principal debtor, creditor, and surety. The surety's liability is co-extensive with the principal debtor unless otherwise specified. A continuing guarantee extends to multiple transactions until revoked, while a specific guarantee involves a single transaction/debt. Rights of the surety include subrogation, indemnity, contribution between co-sureties, and benefit of securities held by the creditor.
Consideration
The document defines consideration under Indian contract law as something done or promised to be done in exchange for a promise. Consideration must be real, lawful, and something the promisor is not already obligated to do. While consideration is usually required, there are some exceptions like natural love and affection between family, completed gifts, and promises to pay time-barred debts. The doctrine of promissory estoppel also allows enforcement of some promises without consideration if someone relied on the promise.
Contract presentation day 1
The document discusses the validity terms of contracts, including mutual consent, capacity, certainty of object, and lawful cause. It defines key concepts like offer and acceptance, noting an offer must be definite and communicated to create a binding promise upon acceptance. Acceptance can be expressed or implied through silence based on business customs. The parties must have capacity and mental ability to contract, the object must be possible and defined, and there must be lawful cause such as exchange of goods/services. The document also discusses principles of freedom of contract and consensus between parties to establish a valid agreement.
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This document discusses breach of trust and defenses available to trustees. It begins by defining breach of trust and the basis for trustee liability. It then covers the nature of trustee liability, including personal liability to beneficiaries. Defenses that may allow a trustee to avoid liability are then examined, such as beneficiary consent, release or acquiescence, expiration of the limitation period, statutory relief if the trustee acted honestly and reasonably, advice of counsel, exemption clauses, and statutory indemnities.
Drafting Of Agreements
This document outlines the key considerations and elements for properly drafting agreements. It discusses gathering necessary details about the parties and subject matter. It also covers important legal issues like offer and acceptance. Well-drafted agreements are clear, concise, logically organized and accurately reflect the intentions of the parties. They also include basic parts like the title, dates, parties, recitals, valuable consideration, definitions, body, interpretations, boiler plate clauses and signatures.
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O documento discute os rácios financeiros e como eles podem ser usados para analisar a situação financeira de uma empresa. Ele define rácios e fornece exemplos de como classificá-los e interpretá-los, bem como algumas cautelas ao usá-los.
Restraint of trade and legal proceedings
This document discusses restraint of trade and legal proceedings under contract law. It begins by defining restraint of trade and listing exceptions where restrictive agreements may be allowed, such as when selling the goodwill of a business. It examines principles for enforcing restrictive covenants, including that the restraint must protect a legitimate business interest and be reasonable in scope and duration. It also discusses agreements that restrict legal proceedings. In summary, while restraint of trade agreements are generally void, exceptions allow reasonable restrictions to protect trade secrets, customer connections, and partnership goodwill under certain conditions.
Contract and agreement
The document discusses the Indian Contract Act of 1872. It provides definitions of key terms related to contracts such as agreement, offer, acceptance, consideration, and validity. An agreement only becomes a legally valid contract if it meets certain essential elements - there must be an offer and acceptance, lawful object and consideration, capacity and free consent of parties, certainty and possibility of performance. The document also describes different types of contracts based on their formation, parties involved, performance obligations, and enforceability. It provides examples to illustrate concepts related to contracts under the Indian Contract Act.
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Negotiable instrument act 1881 & Types of Negotiable Instrument
In this presentaion concept of negotiable instrument, types of negotiable instrument, holder and holder in due course, endorsement , how endorsement is done, kinds of endorsement insturment obtain by unlawful means and dishonor is included.
Consideration and valid consideration
This document discusses consideration and the essential elements required for a valid contract. It defines consideration as the price for which a promise is made. An example is provided of a sale agreement where the factory price is the consideration. Essential elements of consideration include it being real, moving at the desire of the promisor, and not being something the promisor is already bound to do. The document outlines different types of consideration like present, past, and future consideration. It also discusses capacity of parties, void agreements, and factors like coercion, undue influence, fraud, and misrepresentation that can invalidate an agreement due to lack of free consent.
Contract of Indemnity and Guarantee
This document provides an introduction to contracts of indemnity and guarantee under Indian contract law. It defines a contract of indemnity as one where one party promises to save another from loss caused by the conduct of the promisor or a third party. A contract of guarantee is defined as a promise to perform or discharge the liability of a third party in case of their default. The key parties in each are identified. Essentials and rights under each contract are outlined, along with differences between the two types of contracts.
Negotiable instruments act1881
The document provides an overview of negotiable instruments under Indian law, including the Negotiable Instruments Act of 1881. It defines key terms like promissory notes, bills of exchange, cheques, negotiation and endorsement.
It outlines the essential elements and parties involved in different types of negotiable instruments. Promissory notes require a maker who promises to pay a sum to a payee. Bills of exchange require a drawer, drawee and payee. Cheques are drawn on a specified banker and payable on demand.
Negotiation allows an instrument to be transferred, making the transferee the new holder. This can occur through delivery for bearer instruments or endorsement and delivery for instruments payable
1 Modulo - Negociação - Bloco 3
O documento descreve as etapas do processo de negociação: 1) Preparação com planejamento e coleta de informações; 2) Criação de valor identificando oportunidades mutuamente benéficas; 3) Distribuição de valor trocando as oportunidades identificadas. A implementação e avaliação monitoram o cumprimento dos acordos para manter o relacionamento.
Six elements of a contract
This document summarizes the six elements of a valid contract: 1) offer, which is a proposal made with serious intent by an offeror to an offeree; 2) acceptance, which is an unqualified agreement to the offer's terms without modification; 3) genuine agreement between the parties to create a final contract; 4) consideration, which is the exchange of benefits and detriments by the parties; 5) contractual capacity of the parties to enter into an agreement; and 6) legality in accordance with civil and criminal law as well as public policy.
Privado ii unidad 11 - parte 1
El documento resume los contratos de factoraje y leasing. El factoraje es un contrato de financiamiento donde una parte, el factor, adquiere los créditos de la otra parte, el factoreado, otorgando anticipos y asumiendo o no los riesgos de cobro. El leasing es un contrato donde una parte, el dador, transfiere a la otra, el tomador, la tenencia de un bien para su uso a cambio del pago de un canon, con una opción de compra. Ambos contratos son importantes herramientas de financiamiento empresarial.
Termination of Contract
This presentation is one of my assignment in Business Law Class in Sampoerna University. This presentation is about Termination of Contract.
Slide: PowerPoint 2013
Design by: Hedi Fauzi
Image: Google Image
If you want the original file for your reference, feel free to ask me via email: hedi.fauzi@hotmail.com with subject [SlideShare] (Your Subject)
Types of Contract
There are several ways that contracts can be classified. A valid contract is enforceable by law when all essential elements are present. A void contract is not legally binding, such as an illegal agreement. A voidable contract is enforceable by one party but not the other, like a contract signed under coercion. An unenforceable contract cannot be enforced due to technical issues. Contracts are also classified as unilateral, bilateral, executed, or executory based on the performance of obligations by each party. Express contracts explicitly state terms, while implied contracts rely on actions and conduct. A constructive contract is recognized by law due to special circumstances rather than agreement.
Termination of contract
This document discusses different ways in which a contract can terminate in Nepal. It outlines that a contract can terminate through performance, mutual agreement, impossibility or illegality, lapse of time, operation of law, or breach of contract. It provides examples of each type of termination, such as destruction of the subject matter making performance impossible or a change in law making the contract illegal. The document also notes that a contract will not terminate simply due to difficulties in performance or changes in profitability, and outlines circumstances where subsequent impossibility does not excuse non-performance.
Proatividade
O documento discute o conceito de proatividade no ambiente de trabalho. A proatividade é definida como a capacidade de prever problemas e agir de forma antecipada para evitá-los ou amenizá-los, buscando mudanças e melhorias que beneficiem a organização a longo prazo. Pessoas proativas tendem a ter mais chances de promoção e aumento salarial, ao passo que funcionários reativos costumam ser os primeiros a serem demitidos quando há corte de custos.
Bills of exchange 7
This document defines bills of exchange and promissory notes under Indian law. It provides key details about the parties involved, features, types and differences between bills of exchange and promissory notes. Bills of exchange require three parties - a drawer, drawee and payee, while promissory notes only require a maker and payee. Bills of exchange must be accepted to be valid, while promissory notes do not require acceptance since the maker is already liable. The document also provides examples of each instrument.
Contract of indemnity and guarantee
A contract of indemnity involves one party promising to save another from loss caused by the promisor's own conduct or a third party. Key parties are the indemnifier and indemnified. A contract of guarantee involves promising to perform or discharge a third party's liability in case of default. It includes a principal debtor, creditor, and surety. The surety's liability is co-extensive with the principal debtor unless otherwise specified. A continuing guarantee extends to multiple transactions until revoked, while a specific guarantee involves a single transaction/debt. Rights of the surety include subrogation, indemnity, contribution between co-sureties, and benefit of securities held by the creditor.
Consideration
The document defines consideration under Indian contract law as something done or promised to be done in exchange for a promise. Consideration must be real, lawful, and something the promisor is not already obligated to do. While consideration is usually required, there are some exceptions like natural love and affection between family, completed gifts, and promises to pay time-barred debts. The doctrine of promissory estoppel also allows enforcement of some promises without consideration if someone relied on the promise.
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The document discusses the validity terms of contracts, including mutual consent, capacity, certainty of object, and lawful cause. It defines key concepts like offer and acceptance, noting an offer must be definite and communicated to create a binding promise upon acceptance. Acceptance can be expressed or implied through silence based on business customs. The parties must have capacity and mental ability to contract, the object must be possible and defined, and there must be lawful cause such as exchange of goods/services. The document also discusses principles of freedom of contract and consensus between parties to establish a valid agreement.
Breach of trust
This document discusses breach of trust and defenses available to trustees. It begins by defining breach of trust and the basis for trustee liability. It then covers the nature of trustee liability, including personal liability to beneficiaries. Defenses that may allow a trustee to avoid liability are then examined, such as beneficiary consent, release or acquiescence, expiration of the limitation period, statutory relief if the trustee acted honestly and reasonably, advice of counsel, exemption clauses, and statutory indemnities.
Drafting Of Agreements
This document outlines the key considerations and elements for properly drafting agreements. It discusses gathering necessary details about the parties and subject matter. It also covers important legal issues like offer and acceptance. Well-drafted agreements are clear, concise, logically organized and accurately reflect the intentions of the parties. They also include basic parts like the title, dates, parties, recitals, valuable consideration, definitions, body, interpretations, boiler plate clauses and signatures.
Landlord Tenant Ppt
This document summarizes a landlord/tenant seminar given by Attorney James P. Hentz. It provides tips for landlords to reduce the risk of a non-paying tenant, such as checking references with prior landlords and doing a credit check. It also outlines different types of leases, how to properly handle security deposits and last month's rent, and potential legal pitfalls landlords should avoid, such as failing to address safety issues that could result in tenant lawsuits.
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O documento discute os rácios financeiros e como eles podem ser usados para analisar a situação financeira de uma empresa. Ele define rácios e fornece exemplos de como classificá-los e interpretá-los, bem como algumas cautelas ao usá-los.
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The Indian Contract Act 1872 establishes the framework for contracts in India. It aims to ensure that rights and obligations from contracts are upheld and legal remedies are available for breaches. The Act applies across India except Jammu and Kashmir. It covers the basic principles of contracts, indemnity, guarantee, bailment, and agency. A contract requires an offer and acceptance, lawful consideration, capacity and consent to contract, a lawful objective, and certainty of terms. The Act defines different types of contracts based on their validity, formation, and performance requirements.
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The document discusses the key elements of a valid contract under Indian law. It defines a contract and outlines the essential requirements including offer and acceptance, consideration, capacity to contract, lawful object and consent. It also discusses different classifications of contracts and circumstances in which contracts may be void, discharged or remedies for breach. The key highlights are the definitions and essential elements of a valid contract according to Indian law.
Business Law
This document provides an overview of contract law, defining a contract and outlining the basic elements required for any contract to be valid. It discusses the requirements of mutual assent (offer and acceptance), consideration, legality, and capacity. It also describes different types of contracts, including unilateral and bilateral, executory and executed, void and voidable. Technical contracts like negotiable instruments are also mentioned. The key elements that must be present in any legally binding contract are an offer, acceptance, consideration, capacity of the parties, and a legal purpose.
Introduction to Contract Law in India
In this presentation we discuss some elements of a contract as per the Indian Contract Act 1872. We discuss what is a valid and invalid contract, offer, acceptance and consideration.
Kinds of contract
This document defines and provides examples of different types of contracts: voidable (enforceable at the option of one party), void (unenforceable by law), unenforceable (valid but incapable of proof), executed (both parties performed obligations), executory (neither party performed yet), express (written or spoken terms), implied (inferred from conduct), quasi (resemble contracts but not actually contracts), and contingent (conditional on uncertain future event). Key differences include enforceability, whether obligations have been performed, and how the terms are established.
Contract act kinds of contract
This document defines and provides examples of different types of contracts: voidable contracts can be avoided by one party; void contracts are invalid from the start; unenforceable contracts cannot be proven in court; executed contracts have been fully performed by both parties; executory contracts have obligations still to be performed; express contracts have written or spoken terms; implied contracts have inferred terms; quasi contracts resemble contracts; and contingent contracts depend on uncertain future events.
Consideration unit2 bl [autosaved]
This document discusses consideration in contracts under Indian law. It defines consideration, provides examples of different types of consideration (executed, executory, unlawful, etc.), and outlines the legal rules regarding consideration. It also discusses exceptions to the privity rule, free consent, coercion, undue influence, fraud, and mistakes. Finally, it covers performance of contracts, who can perform/demand performance, and issues around the legality of an object or consideration.
Consideration unit2 bl
This document discusses consideration in contracts under Indian law. It defines consideration, provides examples of different types of consideration (executed, executory, unlawful, etc.), and outlines the legal rules regarding consideration. It also discusses exceptions to the general rule requiring consideration, such as contracts of agency, gifts, and promises to pay time-barred debts. The document examines concepts like privity of contract, free consent, and legality of object and consideration. It also covers topics such as performance of contracts, void agreements, and quasi-contracts.
International Business Law Presentation
The document discusses the classification and termination of contracts. It outlines the main classifications of contracts as bilateral or unilateral, executory or executed, valid, void, voidable, or unenforceable, formal or informal, and express or implied. It then examines the various ways an offer can end, such as acceptance, lapse of time, rejection, counteroffer, revocation, death or insanity of the parties, and illegality or impossibility of the offer.
Business law
The document discusses the definition and types of consideration required for a valid contract under Indian contract law, noting that consideration means both parties receive something of value in exchange for their promises. It provides examples of valid consideration and outlines rules like consideration must be something of value and move at the desire of the promisor rather than a third party for a contract to be enforceable.
Contract Law.pptx
A basic primer on the essentials of contract. A very useful tool for the managers or lawyers to understand the basic concepts related to formation of contract.
Cotract
This document defines key terms related to contracts such as proposal, promise, agreement, and contract. It outlines the essential elements of a valid contract including proposal and acceptance, consideration, capacity and consent of parties, certainty of terms, and possibility and legality of performance. It also describes different types of contracts such as void, executory, implied, and contingent contracts. Finally, it lists several ways a contract can be discharged such as through performance, death of a party, impossibility of performance, or by agreement of the parties.
Contract ppt
The document defines key terms related to contracts under Indian law such as proposal, acceptance, consideration and consent. It outlines the essential elements of a valid contract including offer and acceptance, intention to create a legal relationship, lawful consideration, capacity and consent of parties. It also discusses circumstances that can invalidate consent such as coercion, undue influence, misrepresentation and fraud.
Contract ppt
The document defines key terms related to contracts under Indian law such as proposal, acceptance, consideration and consent. It outlines the essential elements of a valid contract including offer and acceptance, intention to create a legal relationship, lawful consideration, capacity and consent of parties. It also discusses circumstances that can invalidate consent such as coercion, undue influence, misrepresentation and fraud.
Contract & agreement
The document discusses various types of contracts and their discharge. It defines a contract as a legally enforceable agreement with key elements of offer, acceptance, and consideration. It categorizes contracts based on validity, formation, performance, and more. It also outlines several ways a contract can be discharged, such as through performance, breach, impossibility of performance, or by operation of law. Discharge by breach of contract occurs when a party fails to perform or anticipatorily repudiates the contract.
chapter 1 and contract types.ppt
This document defines key legal terms related to contracts, including:
- A proposal becomes a promise when accepted, with the person making the proposal called the promisor and the person accepting called the promisee.
- Consideration is something of value (an act, abstinence, or promise) that is exchanged for a promise.
- An agreement with consideration is a contract, making it enforceable by law.
- Contracts can be classified based on their validity, formation, and performance. Void, voidable, illegal and unenforceable contracts lack essential elements and are not binding.
Contracts (CXC - CSEC)
This document provides an overview of legal aspects of contracts. It defines a contract as a legally binding agreement between two or more parties where something is promised to be done. The key elements for a valid contract are offer, acceptance, consideration, capacity, legality, possibility, and good faith. It also describes different types of contracts such as simple contracts, specialty contracts, and contracts of record. Finally, it discusses how contracts can be discharged through performance, breach, renunciation, agreement, lapse of time, bankruptcy, death, or frustration. Businesses enter into many contracts on a regular basis for activities like obtaining credit, selling goods, hire purchases, and more.
The indian contract act, 1872 for class
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.
Amity mba ii sem legal aspects of business module i revised
The document discusses key concepts related to contracts under Indian law. It covers the nature and types of contracts, essential elements of a valid contract, capacity to contract, offer and acceptance, consideration, discharge of contracts, remedies for breach of contract, bailment, pledge, indemnity, and guarantee. Specifically, it defines contracts, outlines essential elements like offer, acceptance and consideration. It also discusses parties that are incompetent to contract such as minors and those of unsound mind. Special contracts like bailment, pledge, indemnity and guarantee are also summarized.
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BBA-SEM-5-MERCANTILE LAW-The Indian contract act,1872
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Business Law - Revised Slides - Full Syllabus.pptx
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BUSINESS LAW
- 1. Contract of law By Dr. Mukesh Agarwal
- 2. ,
- 3. Contract= Agreement+Enforcebility of the Agreement •An agreement enforceable by law is a contract.
- 4. Essentials of valid contract • Plurality of parties • Agreement • Contractual capacity • Free consent • Consideration • Certainty of meaning • Lawful object • Compleance of a legal formalities
- 5. Classification of contracts Valid Agreement Void contract Voidable contract Express contract Implied contract Quasi contract Unilateral contract Bilateral cntract
- 6. Proposal or Offer • A prosal or offer is an expression of willingness by one person to another to enter into an agreement on the terms stated by him with an intention to obtain the assent of the other.
- 7. Types of offer • On the Basis of Mode of making an offer • Express offer • Implied Offer • On the basis of offerees • Epecific Offer • General Offer • On the basis of nature of offer • Cross offer • Counter offer • Standing offer
- 8. Capacity to contract MINOR UNSOUND PERSON PERSON DISQUALIFIED FROM CONTRACTION BY ANY OTHER LAW
- 10. consideration • When at the desire of the promisor , the promisee or any other person has done or abstained from doing or does or abstains from doing or promises to do or abstain from doing, something, such act or abstinence or promise is called a consideration for the promise.
- 11. Essentials to the consideration • At the desire of the promisor • It may be given by the promisee or any other person • It may be past, present or future • It must not be unlawful • It must be certain • It shuld not be impossible
- 12. unlawful Legality of object • if it is forbidden by law • If permitted it would defeat the provisions of any law • if it is fraudulent • If it involves or implies injuruy to the person or property of another • If the court regards it as immoral idf taahe court regards it as opposed to public policy
- 13. Contigent contract • A contigent contract is a contract in which the promisor undertake to perform the contract upon the happening or non happening of a specified future uncertain event which is collateral to the contract.
- 14. discharge of contract •A contract is discharged when parties to a contract no longer have any obligation under the contract
- 15. Modes of discharge of contract • By performance • By agreement or consent • By lapse of time • By opertion of law • By impossibility of performance • By breach of contract •
- 16. Remedies for Breach of Contract • Suit for rescission of the contract • Suit for damages • Suit for quantum meruit • Suit for specific performance • Suit for injunction
- 17. Quasi – contract • A quasi contract is not a real contract but a contract implied in law . It is an obligation ,not created by any promise or agreement , but imposed by law on the ground of principle of equity. A the principle states that no one should have unjust benefit at the cost of the other
- 18. Presented by ……………. Dr. Mukesh agarwal Ph.D,LLM,MBA,MA ,MJ. Author – 1-Hindu law 2-Muslim law 3- Legal and constitutional History of India 4- Consumer protection Act. 5- Mangement information system 6- Leader ship skill and mangement system 7-Drafting , Pleading and comveycing
Editor's Notes
- Dr MUKESH AGARWAL… Ph.D,MBA,MA.LLM,MJ