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.

1. Kinds of Contracts

2. Kinds of Contracts
• Voidable
• Void
• Unenforceable
• Executed
• Executory
• Express
• Implied
• Quasi
• Contingent

3. 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. A contract is
voidable when one of the parties to the contract has not
exercised his free consent. One of the essential elements of
a formation of a contract for example, free consent, is
absent. All voidable contracts are those which are induced
by coercion fraud or misrepresentation. The person whose
consent is not freely given may avoid a contract. It
therefore continues to be valid till the party whose consent
is caused by coercion, undue influence, fraud or
misrepresentation choose to avoid the contract within a
reasonable time. Contract then is not binding on the other
party.

4. Void Contract
• A contract which ceases to be enforceable by law
becomes void, when it ceases to be enforceable. A void
contract is a nullity from its inception. No rights accrue
there under. A contract may also be originally valid
when entered into but subsequently due to change in
the events or circumstances, it may become void. It
should be noted that there cannot be a void contract
because when the contract is void, it is no contract at
all. The right expression therefore is void agreement
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5. Unenforceable Contract
• A contract which cannot be enforced is a valid
contract in law, but is incapable of proof, and
therefore cannot be enforced in the Court of
Law.

6. Executed Contract
• Where both the parties have performed their
obligation, it is an executed contract. Even
when one party to the contract has performed
his share of the obligation, the contract is
executed though to the other party is still
under an outstanding obligation to perform
his part of the promise.

7. Executory Contract
• Here neither party to the contract has performed
his share of the obligation, for example, both the
parties have yet to perform their promises, the
contract is executory. In an executed contract one
party has already performed his part of he
agreement while the other party has to perform
his par. In an executory contract both the parties
have to perform their mutual promises and the
fact that they have to perform their parts of the
contract does not affect the validity of the
contract.

8. 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.

9. Implied Contract
• The terms of a contract are inferred from the
conduct or dealing between the parties. When
the proposal or acceptance of any promise is
made otherwise than in words, the promise is
said to be implied. Such an implied promise
leads to an implied contract. For example, A
boards a bus. It is implied from his conduct
that A has entered onto an implied promise to
purchase a ticket.

10. Quasi-Contract
• Certain relations resemble those created by a contract.
Certain obligations which are not contracts in fact but
are so in the contemplation of law. These are called
Quasi-Contracts.
• Illustration:
• ‘A’ supplies necessities to ‘B’ who is not capable of
contracting and reimbursing to ‘A’. A is entitled to be
reimbursed from B’s property.
• Quasi contracts raise out of obligation enjoyed by one
person from the voluntary acts of the other which are
not intended to be performed gratuitously

11. Contingent Contract
• A contingent is one in which a promise is
conditional and the contract shall be
performed only on the happening of some
future uncertain event
• Illustrations:
• ‘A’ contracts to pay B Rs 10,000, if B’s house is
burnt. This is a contingent contract.

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