This document discusses different types of contracts including valid, voidable, void, unenforceable, bilateral, unilateral, express, implied, and executed contracts. It provides examples and definitions for each type. Key points include that a valid contract is enforceable by law, a voidable contract can be enforced by one party but not the other, and a void contract was initially valid but became invalid due to external reasons like a government ban. Bilateral contracts involve obligations from both parties while unilateral contracts involve an express promise from one party only.

2. University
 Shaheed Benazir Bhutto University Nawabshah Students
of 15BBA

3. Group Members
Aftab Ali (79)
Israr Ahmed (63)
Aqib jawed (04)

4. Contents
 Valid Contract
 Voidable Contract
 Bilateral Contract
 Unilateral Contract
 Express Contract
 Implied Contract

5. Contract
Pollack: Any agreement are promise enforceable at
law is a contract.
Salmod: A contract is an agreement creating and
defining obligations between the parties.
Blackstone: An agreement upon consideration basis
to do or not to do a particular things is called contract.

6. Kinds of contract
 Voidable Contract: An agreement which is enforceable by law
at the option of one or more of the parties thereto, but not at the option of
the other or others, is a voidable contract.
Example: A comples B to sell his car at gunpoint. The contract is made
by coercion and is voidable at the option of B.

7.  Void Contract: A void contract is a valid contract when it is made but subsequently
it becomes void due to certain reasons.
Example: A agrees to sell 100 bags of wheat to B, before delivery of wheat the govt:
puts a ban on private trade of wheat. The contract becomes void.

8. Israr Ahmed

9.  Uneforcable law: It is a ccontract which can not to be enforced
by the court law because of some technical defects such as absence of
writing, registration, stamps etc. when technical defects are removed the
contract becomes enforceable.

10.  Valid Contract: Valid contract is an agreement enforceable by law.
 Example: A contract for the sale of a car between Mr. A and Mr. B
has been concluded and all necessary formalities have been completed. The
said contract meets all essentials of a valid contract. If either of the two that
is Mr. A or Mr. B fails to perform his part of contract, the counter party can
sue the other party for the breach of contract.

11.  Bilateral Contract: It is known as two sided contract. In this
contract the obligation is outstanding on part of both the parties. In other
words, bilateral contract both the parties have yet too perform their
obligations.
Example: A party to paint a picture for B and B promises to pay Rs.
5000 to A. so it it a bilateral contract.

12.  Unilateral Contract: A contract in which only one party makes an express
promise, or undertakes a performance without first securing a reciprocal agr
eement from the other party.
Example of a unilateral contract:
 The insurance company promises it will pay the insured person a specific
amount of money in case a certain event happens. If the event doesn't
happen, the company won't have to pay.

13. Aqib Jawed

14.  Express Contract: When the terms of a contract are reduced
in writing or are agreed upon by spoken words at the time of its formation,
the contract is express
Example: A tells on telephone to B that he want to sell his car and B
informs A that he agrees to buy the car. It is an express contract.

15.  Implied Contract: An implied contract is an agreement created by actions
of the parties involved, but it is not written or spoken. This is
a contract assumed to have been drawn. In this case, there is no written
record nor any actual verbal agreement.
 Example:
You purchased a refrigerator for home you paid amount for
commodity to dealer, and your commodity give you benefits as cold water,
produce ice etc…..

16.  Executed Contract: A contract is called a executed contract
when both parties completely fulfill their obligations it means that nothing
remains to be done by either party under the contract.