This document summarizes key concepts from Indian contract law:
1) It discusses offer and acceptance through examples like offers to buy a car or house. It also examines the Carlil v. Carbolic Smoke Ball Co. case where a company was held liable for failing to pay a reward.
2) It analyzes requirements for a valid contract including free consent, lawful consideration, and capacity of parties. It also covers restraint of trade, impossible acts, and contracts with minors.
3) It discusses performance of contracts including actual performance, tender of performance, and circumstances where performance is not required like novation or rescission. It also summarizes who can perform a contract.
Do you understand what is a wagering agreement and a contingent agreement? Wagering Contracts and Contingent Contracts? If NO, then a must view slideshow for you.
Do you understand what is a wagering agreement and a contingent agreement? Wagering Contracts and Contingent Contracts? If NO, then a must view slideshow for you.
All agreement are contracts if they are made by the free consent of the parties competent to contract, for a lawful consideration and with a lawful object and are not expressly declared to be void.
Definition of Consideration, When Consideration or object is unlawful, effects of illegality, Unlawful & illegal agreements.....
It's useful for law students.
This material is for PGPSE / CSE students of AFTERSCHOOOL. PGPSE / CSE are free online programme - open for all - free for all - to promote entrepreneurship and social entrepreneurship
All agreement are contracts if they are made by the free consent of the parties competent to contract, for a lawful consideration and with a lawful object and are not expressly declared to be void.
Definition of Consideration, When Consideration or object is unlawful, effects of illegality, Unlawful & illegal agreements.....
It's useful for law students.
This material is for PGPSE / CSE students of AFTERSCHOOOL. PGPSE / CSE are free online programme - open for all - free for all - to promote entrepreneurship and social entrepreneurship
This material is for PGPSE / CSE students of AFTERSCHOOOL. PGPSE / CSE are free online programme - open for all - free for all - to promote entrepreneurship and social entrepreneurship
Acceptance in Contract and its CommunicationPreeti Sikder
Learning Outcome: After completion of this lesson students will be able to -
a) define acceptance
b) understand and explain the methods of communication of acceptance
c) illustrate the legal provisions relating to communication and revocation of acceptance
Merchandise Law. This PPT include detail information about type of Contracts and Essential of Indian Contract and Special types of Contracts. By Dr. Kirti Jainani , Associate Professor. Management
Contracts
A contract
is based
on promises
voluntarily
made
Do all
promises
give rise to
contractual
obligations?
OfferAcceptanceConsiderationCapacityLegality
Unilateral and bilateral Expressed and impliedValidVoid and voidableUnenforceable
PROMISE
FOR AN
ACT
Reward is
an example
PROMISE
FOR A
PROMISE
ART AGREES TO PAINT HOUSE AND BOB AGREES TO PAY $1,000.
Bill and Linda meet at a party. He was
74, and she was 49. A month later, they
started to talk about marriage. Linda was
concerned about quitting her job, and Bill said he would give her whatever she needed. One day, she walked into the bathroom with a handwritten note containing financial terms for a marriage, and he signed it. They got married, but Bill filed for divorce 1 ½ years later.
What is the issue?
Does the contract given to and signed by the husband in the bathroom constitute a valid and enforceable agreement that was freely
entered into?
What kind of agreement was it, unilateral or bilateral?
It was unilateral because it was an agreement to marry.
How did the court rule?
To be enforceable, the agreement must be freely entered into without duress or undue influence. When marriage is contemplated, the parties must do so knowing of the assets of the other. In this case, the parties never disclosed their assets, liabilities or income. The husband also never had the chance to consult an attorney. Therefore, the agreement is not enforceable.
Stated in direct
termsCan be written
or oral
I will sell you my sports car for $25,000
When you
go to the
doctor, you
impliedly
agree to pay
for services.
Plaintiffs cared for the decedent for
several months before he died. They
claimed they were promised payment
for services. Defendant maintains that
they are a family member so services
were gratuitously rendered.
Contract implied-in–fact is to prevent
unjust result. Normally, there is a presumption
that services rendered by a family member
are free. However, contract may be implied
when service are performed with expectation
of payment. In this case, plaintiffs can point
to no evidence that they agreed upon a
price with the decedent, what form
payment would take, or when payment
would be made, so a contract should
not be implied.
Satisfies all
requirements of
an enforceable
agreement
Binds one party
but gives the other
option to withdraw
Element of
contract has
no legal force
or effect
ILLEGAL
CONTRACT
Satisfies elements of
a valid contract but
won't be enforced
by court
Most contracts
are oral in nature
and can be enforceable.
The major problem with oral contracts is proving the existence of the agreement.
Oral contracts require the courts to assess the credibility of the parties.
Are agreements where
people pool their money
to buy l.
Contract Laws: Indian Contract Act 1872: Definition of contract, essentials of a valid contract, classification of contracts, remedies of beach of contract
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Case laws in indian contract act 1872
1. Case laws and important
examples in Indian contract act
1872
Kabita Jha
2. Offer and acceptance
• X says to y will you buy my car for one lakh?
• X writes a letter to y , Will you buy my house
for 20 lakh?
• X gives an advertisement in the newspaper
that I will pay 10 thousand ,whoever traces
my missing nephew.
• X writes a letter to y, I offer to sell my car for
one lakh if I do not receive your reply by
Monday I will assume you have accepted the
offer.
3. Carlil vs. smoke ball co
• A co advertised that it would pay $100 to
anyone who contracts influenza after using
the smoke balls of the company according
to the printed directions. Mrs. Carlil used
as per given directions but she contracted
influenza. she filed a suit for money
announced .
4. Decision of the case
• It was a general offer (means an offer
made to public) so anyone could have
accepted it
• She used the medicine as per given
directions .
• She can sue the company for promised
reward and co was held liable.
5. Lalman shukla vs. Gauridutt
• Gauridutt sent his servant lalman to find
his lost nephew. when the servant had left,
Gauridutt announced reward to anyone,
who will trace the boy. Lalman found the
boy and brought him home .when lalman
came to know he claimed for reward.
6. Decision in this case
• Lalman’s plea was cancelled on the
grounds that he can not accept the offer
unless he is not aware of it.
7. FREE CONSENT
• X Threatens to kill Y if he refuses to sell
his house to him .
• A devotee gifted her property to spiritual
guru to secure benefits to her soul in next
world.
8. Lawful object and consideration
• A ,B and C enter into contract to share
profits, to be acquired by fraud.
• X pays 1000 Rs to Y to beat Z. Y does not. X
can not recover his money back.
• X promises to pay Y Rs 50000 if he secures
employment for him in govt sector.
• X who knows that Y has committed a murder,
receives Rs 7 lakh from y in consideration of
not exposing.
9. Agreement in restraint to trade
• X a seller of imitation jewellary in England
sold his business to Y and agreed not to
deal for two years
-in imitation jewellary
-in real jewellary in certain foreign countries
• X after selling the goodwill of his business
to Y promises not to carry the similar
business anywhere in the world.
10. Agreement to do impossible act
• A agrees to give Rs 10000 to B ,if he
marries C (a Hindu) who is already
married to D.
• A ,a singer contracts with B the manager of
a theatre to sing for two nights every week
for next two months. A on sixth night,
willfully absents herself and B rescinds the
contract.
11. Agreements made by incompetent
parties (minor)
• Case law –Nash vs. Inman
Inman an undergraduate in Cambridge
bought eleven fancy waistcoats from Nash.
the co claimed for their money
12. DECISION
• The court held waistcoats were not part of
necessary things so the price could not be
recovered
13. Auction of airline tickets
• There are several internet sites which provide the
service of auction of goods and services. To participate
in the auction one has to become the member by
opening an account online by filling in a form. the
form requires to furnish name , address, occupation,
phone no and email address for communication.
• The access to the sight and participation in the auction
is free. Domestic airlines have found this method to be
a good source of auction of their tickets.
• Each airlines have their own page on the site. The
arrangement is that an intending passenger will first
mention his/ her credit card no and authorize for
debiting in the event of the person being highest
bidder.
14. Continue…..
• Thereafter the person can fill in the details of
the flight, destination and the date and put a
bid amount. If another person puts the higher
bid , the person will be informed that his bid
has been exceeded. the site will settle down
the winner of the bid and close the bid.
• After the auction closes, the internet site will
debit the credit card and generate a PNR no
for the ticket. The winner has to take PNR no
,an identity proof and collect the ticket.
15. case
• Savita bid for a Mumbai- Bangalore ticket for nov
7 for Rs 3700 . She received an email from the
internet site announcing that she is the highest
bidder .PNR no was generated and her credit card
was charged with the amount.
• she was going to Bang lore to attend her job
interview. The co postponed the interview
• She immediately informed the internet site and
airlines through mail, phone and fax that she
would not be able to go for the interview .so her
money should be credited back. Decide
16. Performance of contract u/s 37
• A contract creates an obligation which
continues till the contract has not been
discharged.
• It means when both the parties to contract
fulfill their respective legal obligation
within time and the manner prescribed.
• It means the contract comes to a happy
ending.
17. Performance of contract ..
Actual performance
Attempted performance
or tender of performance
18. Actual performance
• When both the parties have performed
their respective promises the contract is
said to be actually performed. in case of
death of the promisor ,the legal
representatives are bound to perform the
contract
19. Attempted performance u/s 38
Sometimes if the promisor offers to perform
his obligation on proper time and place but
the promisee does not accept it is called
attempted performance.
20. Essentials of a valid tender
It must be unconditional
It must be at proper time and place
It must be in the proper form
It must be made to the proper person
The tender must be for the whole not in parts
Reasonable opportunity to inspecting the goods
It must be by the person who is in position and willing to perform
21. Contracts which need not be
performed
• If the parties to contract agree to NOVATION
OR ALTERATION. The original contract
disappears.(u/s 62)
• If the parties agree for REMISSION. It means
parties agree to remit performance either
wholly or in part.(u/s 63)
• If the party on whose option the contract is
voidable rescinds it ,the other party need not
to perform.(u/s 64).
• If the failure is caused by promisee's neglects
or refusal .(u/s 67).
22. By whom the contract must be
performed ?
• By the promisor himself- e.g. painting a
picture, singing in a theatre.
• By the agent-A had to give some money to B
on his behalf A ‘s agent can also give money
to B.
• By the legal representative- in the above case
if A dies ,the burden comes on legal
representatives.
• By third person-if a promisee accepts
performance from third party. he can not
enforce promisor to