My presentation on the essential ingredients of a valid contract!

1. 06/22/15 1
Contract Basics
| Kiran (BS) Bettadapur |

2. Agreement?
 Proposal (Offer)Proposal (Offer)
 AcceptanceAcceptance
 ConsiderationConsideration
 Zero? (NudumZero? (Nudum
Pactum)Pactum)

3. Valid Agreement?
 LawfulLawful

4. Dinner Invitation?
 StatementStatement
 No acceptanceNo acceptance
 AssumedAssumed
acceptance, if noacceptance, if no
reply by...reply by...

5. Bank Heist
 Free ConsentFree Consent

6. Car Dealership
 Competent toCompetent to
ContractContract

7. Arms Export
 Expressly DeclaredExpressly Declared
VoidVoid

8. Criteria For Valid Contract
Agreement (Offer +Agreement (Offer +
Acceptance +Acceptance +
Consideration) with:Consideration) with:
 Free ConsentFree Consent
 Parties CompetentParties Competent
to Contractto Contract
 Consideration =Consideration =
LawfulLawful
 Not ExpresslyNot Expressly
Declared VoidDeclared Void
 StatutoryStatutory
Requirement:Requirement:
Contract in Writing,Contract in Writing,
e.g., MoA, Trust,e.g., MoA, Trust,
Sale DeedSale Deed
 Witnesses:Witnesses:
Registration ActRegistration Act

9. 06/22/15 9
Thank You!

10. 06/22/15 9
Thank You!