The document discusses the essential elements of a valid contract according to Indian contract law. It states that for a valid contract there must be 1) a lawful offer and acceptance, 2) lawful consideration, 3) capacity of parties to contract, 4) free consent, 5) lawful object, 6) possibility of performance, 7) certainty of meaning, and 8) not expressly declared void. It provides examples of agreements that do not constitute legally enforceable contracts, such as social engagements or domestic arrangements between husband and wife.
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.
this ppt contain detail information about indian contract act,1872
following :-
Introduction
Agreement
Contract
Types of Contract
Offer
Acceptance
Consideration
Competence to Contract
Free Consent
Legality of object
Contingent Contract
Quasi Contract
Performance of Contract
Discharge of contract
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.
this ppt contain detail information about indian contract act,1872
following :-
Introduction
Agreement
Contract
Types of Contract
Offer
Acceptance
Consideration
Competence to Contract
Free Consent
Legality of object
Contingent Contract
Quasi Contract
Performance of Contract
Discharge of contract
Sales of goods act 1930 -- An Act to define and amend the law relating to the sale of goods.
WHEREAS it is expedient to define and amend the law relating to the sale of goods
Definition of Consideration, When Consideration or object is unlawful, effects of illegality, Unlawful & illegal agreements.....
It's useful for law students.
Sales of goods act 1930 -- An Act to define and amend the law relating to the sale of goods.
WHEREAS it is expedient to define and amend the law relating to the sale of goods
Definition of Consideration, When Consideration or object is unlawful, effects of illegality, Unlawful & illegal agreements.....
It's useful for law students.
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These slides helps the student of international law to understand what is the nature of international law? and how international law was originated and developed?.
The slides was well structured along with the highlighted points for better understanding .
How to Obtain Permanent Residency in the NetherlandsBridgeWest.eu
You can rely on our assistance if you are ready to apply for permanent residency. Find out more at: https://immigration-netherlands.com/obtain-a-permanent-residence-permit-in-the-netherlands/.
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The committee’s focus was on ensuring the safety and security of individuals, communities, and the nation as a whole. Throughout its deliberations, the committee aimed to uphold constitutional values such as justice, dignity, and the intrinsic value of each individual. Their goal was to recommend amendments to the criminal laws that align with these values and priorities.
Subsequently, in February, the committee successfully submitted its recommendations regarding amendments to the criminal law. These recommendations are intended to serve as a foundation for enhancing the current legal framework, promoting safety and security, and upholding the constitutional principles of justice, dignity, and the inherent worth of every individual.
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
Introduction-
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ALL EYES ON RAFAH BUT WHY Explain more.pdf46adnanshahzad
All eyes on Rafah: But why?. The Rafah border crossing, a crucial point between Egypt and the Gaza Strip, often finds itself at the center of global attention. As we explore the significance of Rafah, we’ll uncover why all eyes are on Rafah and the complexities surrounding this pivotal region.
INTRODUCTION
What makes Rafah so significant that it captures global attention? The phrase ‘All eyes are on Rafah’ resonates not just with those in the region but with people worldwide who recognize its strategic, humanitarian, and political importance. In this guide, we will delve into the factors that make Rafah a focal point for international interest, examining its historical context, humanitarian challenges, and political dimensions.
Agrarian Reform Policies in the Philippines: a quiz
Essential elements of a valid contract l
1.
2. Every promise and every set of promises, forming
the consideration for each other, is an agreement.
{Section 2(e)}
A person makes a proposal (Offer). When it is
accepted by other, it becomes a promise
(Acceptance). Thus, Offer + Acceptance = Promise
Only a mutual promise forming consideration for
each other is ‘agreement’. Thus, Promise +
Consideration = Agreement
3. “An agreement enforceable by law” is Contract. -
Section 2(h)
There must be legal relationship.
◦ Agreements of social or domestic nature are not contracts.
◦ Examples:
Invitation to a Birthday party
Invitation to a Dinner etc
4. The promisee is the person receiving the promise from
the promisor. The promisee is the person who has
been promised something, as opposed to the promisor
who makes the promise to someone.
10. When, at the desire of the promisor, the promisee or
any other person
has done or abstained from doing (PAST), or
does or abstains from doing (PRESENT), or
promises to do or to abstain from doing, something
(FUTURE),
such act or abstinence or promise is called a
consideration for the promise. -Section 2 (d)
A promise without consideration is not ‘agreement’
11. CAPACITY OF PARTIES
The parties to an agreement must be
competent to contract. If either of the parties
does not have the capacity to contract, the
contract is not valid. Accordingly the following
persons are incompetent to contract.
(a) Minors,
(b) Persons of unsound mind, and
(c) persons disqualified by law to which they
are subject.
12. Two or more persons are said to consent when
they agree upon the same thing in the same
sense. (Section 13)
13. Consent of both parties must be free.
Consent is said to be free when it is not caused by
(1) coercion, as defined in section 15
(2) undue influence, as defined in section 16
(3) fraud, as defined in section 17
(4) misrepresentation, as defined in section 18
(5) mistake, subject to the provisions of sections 20, 21
and 22.
14. The object for which the contract has been entered into
must not be fraudulent or illegal or immoral or
opposed to public policies.
15. If the act is impossible in itself, physically or
legally, if cannot be enforced at law. For
example, Mr. A agrees with B to discover
treasure by magic. Such Agreements is not
enforceable.
16. The terms of a contract should be clear. In
other words, the contract must not be
vague. Contracts which are vague cannot
be enforced.
17. There are Certain agreements which have been
expressly declared void by the law. Thus an
agreement made by parties should not fall in
this category.
18. Oral contract is a valid contact. However the contract
must be in writing and registered, if so required by any
law, for example, gift, mortgage, sale, lease under the
Transfer of Property Act 1882, Memorandum and
Articles of Association of a Company under the
Companies Ordinance 1984