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Nature of contract

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Komma Naveen Kumar
Komma Naveen Kumar

The document discusses key concepts in corporate and business law, specifically the Indian Contract Act of 1872. It defines what a contract is under Indian law, noting that a contract is an agreement that is enforceable by law. It outlines the essential elements required for a valid contract, including offer and acceptance, lawful consideration, capacity and consent of parties, lawful object, and certainty of terms. It also classifies contracts according to their validity, formation, and time of performance.

Business
1 of 20
Corporate & Business Law THE INDIAN CONTRACT ACT, 1872
WHAT IS LAW? ,[object Object],[object Object]
OBJECT OF LAW ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
IGNORTIA JURIS NOT EXCUSANT ,[object Object],[object Object],[object Object]
Business Laws ,[object Object],[object Object]
Cont….. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
THE INDIAN CONTRACT ACT, 1872
The Law of Contract ,[object Object],[object Object],[object Object],[object Object]
Nature of the Law of Contract ,[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
DEFINITION OF CONTRACT ,[object Object],[object Object],[object Object]
AGREEMENT ,[object Object],[object Object],[object Object],[object Object]
Agreement is a wide term ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
ESSENTIAL ELEMENTS OF VALID CONTRACT ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Classification of Contracts Validity or Enforceability Performance Formation
CLASSIFICATION OF CONTRACTS… ,[object Object],[object Object],[object Object],[object Object]
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According to formation ,[object Object],[object Object],[object Object]
According to time of performance: ,[object Object],[object Object]

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Nature of contract