Syuhada n idayu types of contract ppt
•Download as PPTX, PDF•
1 like•789 views
There are 8 types of contracts discussed in the document: express contracts, executed contracts, adhesion contracts, and void and voidable contracts. Express contracts have explicit terms agreed upon by both parties. Executed contracts are ones where all terms have been fulfilled, like delivery and payment for an item. Adhesion contracts are standard forms like those from telecom companies. Void contracts are not legally binding, while voidable contracts are valid unless one party chooses to void it based on legal grounds.
Report
Share
Report
Share
Recommended
Types of contract
There are three main types of contracts based on formation: express contracts, implied contracts, and quasi contracts. Express contracts are explicitly agreed upon orally or in writing. Implied contracts arise from the actions and conduct of the parties rather than words. Quasi contracts are imposed by courts to correct situations where one party is unjustly enriched at the expense of another.
Types of contract
This document classifies and describes different types of contracts. It discusses contracts based on their formation (express, implied, quasi), nature of consideration (bilateral, unilateral), execution (executed, executor), and validity (valid, void, voidable, illegal, unenforceable). Key points include that quasi contracts are created by law without offer and acceptance, unilateral contracts involve consideration moving in one direction only, and voidable contracts can become valid or void at the option of the suffering party. The document also provides examples to illustrate different contract types.
Types of Contract
There are several ways that contracts can be classified. A valid contract is enforceable by law when all essential elements are present. A void contract is not legally binding, such as an illegal agreement. A voidable contract is enforceable by one party but not the other, like a contract signed under coercion. An unenforceable contract cannot be enforced due to technical issues. Contracts are also classified as unilateral, bilateral, executed, or executory based on the performance of obligations by each party. Express contracts explicitly state terms, while implied contracts rely on actions and conduct. A constructive contract is recognized by law due to special circumstances rather than agreement.
Kinds of contract
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.
Unilateral contract
A unilateral contract is a type of contract where one party, the promisor, makes an offer to the other party, the promisee, to pay them or provide a reward if the promisee performs a specific act. In a unilateral contract, only the promisor is legally obligated under the contract terms once the promisee performs the act. An insurance contract is an example of a unilateral contract because the insurer promises to reimburse losses if they occur after the insured pays the premium, with only the insurer then being obligated.
Contracts .ppt business law
This document provides an overview of contract law, including definitions of key concepts. It discusses that a contract is an agreement enforceable by law, and outlines the main elements required for a valid contract - agreement, consideration, capacity, and legality. It also describes different types of contracts such as bilateral, unilateral, express, implied and quasi contracts. The document concludes by discussing principles for interpreting and enforcing contracts, such as giving unambiguous terms their plain meaning or interpreting ambiguous terms against the drafter.
Nature of contract-2
The document discusses the nature of contracts under Indian law. It notes that the Indian Contract Act of 1872 lays out general principles and some special contracts, and covers indemnity and guarantee. A contract is defined as an agreement enforceable by law, consisting of an agreement and enforceability. There must be consensus between the parties for a valid contract. Essential elements include offer and acceptance, lawful consideration, capacity and consent of parties, lawful object, and agreements not declared void. Contracts are classified based on validity, formation, and performance.
Classification of contract
The document discusses different classifications of contracts according to their legal validity and enforceability under Indian law. It defines valid, voidable, void, unenforceable, and illegal contracts.
A valid contract meets all legal requirements, such as offer, acceptance, lawful consideration and capacity to contract. A voidable contract is valid until avoided due to issues like duress or misrepresentation. A void contract becomes invalid due to reasons like impossibility of performance. An unenforceable contract suffers from technical defects like improper stamping, but can become enforceable by rectifying defects. An illegal contract has an unlawful object like murder and cannot be enforced by law.
Recommended
Types of contract
There are three main types of contracts based on formation: express contracts, implied contracts, and quasi contracts. Express contracts are explicitly agreed upon orally or in writing. Implied contracts arise from the actions and conduct of the parties rather than words. Quasi contracts are imposed by courts to correct situations where one party is unjustly enriched at the expense of another.
Types of contract
This document classifies and describes different types of contracts. It discusses contracts based on their formation (express, implied, quasi), nature of consideration (bilateral, unilateral), execution (executed, executor), and validity (valid, void, voidable, illegal, unenforceable). Key points include that quasi contracts are created by law without offer and acceptance, unilateral contracts involve consideration moving in one direction only, and voidable contracts can become valid or void at the option of the suffering party. The document also provides examples to illustrate different contract types.
Types of Contract
There are several ways that contracts can be classified. A valid contract is enforceable by law when all essential elements are present. A void contract is not legally binding, such as an illegal agreement. A voidable contract is enforceable by one party but not the other, like a contract signed under coercion. An unenforceable contract cannot be enforced due to technical issues. Contracts are also classified as unilateral, bilateral, executed, or executory based on the performance of obligations by each party. Express contracts explicitly state terms, while implied contracts rely on actions and conduct. A constructive contract is recognized by law due to special circumstances rather than agreement.
Kinds of contract
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.
Unilateral contract
A unilateral contract is a type of contract where one party, the promisor, makes an offer to the other party, the promisee, to pay them or provide a reward if the promisee performs a specific act. In a unilateral contract, only the promisor is legally obligated under the contract terms once the promisee performs the act. An insurance contract is an example of a unilateral contract because the insurer promises to reimburse losses if they occur after the insured pays the premium, with only the insurer then being obligated.
Contracts .ppt business law
This document provides an overview of contract law, including definitions of key concepts. It discusses that a contract is an agreement enforceable by law, and outlines the main elements required for a valid contract - agreement, consideration, capacity, and legality. It also describes different types of contracts such as bilateral, unilateral, express, implied and quasi contracts. The document concludes by discussing principles for interpreting and enforcing contracts, such as giving unambiguous terms their plain meaning or interpreting ambiguous terms against the drafter.
Nature of contract-2
The document discusses the nature of contracts under Indian law. It notes that the Indian Contract Act of 1872 lays out general principles and some special contracts, and covers indemnity and guarantee. A contract is defined as an agreement enforceable by law, consisting of an agreement and enforceability. There must be consensus between the parties for a valid contract. Essential elements include offer and acceptance, lawful consideration, capacity and consent of parties, lawful object, and agreements not declared void. Contracts are classified based on validity, formation, and performance.
Classification of contract
The document discusses different classifications of contracts according to their legal validity and enforceability under Indian law. It defines valid, voidable, void, unenforceable, and illegal contracts.
A valid contract meets all legal requirements, such as offer, acceptance, lawful consideration and capacity to contract. A voidable contract is valid until avoided due to issues like duress or misrepresentation. A void contract becomes invalid due to reasons like impossibility of performance. An unenforceable contract suffers from technical defects like improper stamping, but can become enforceable by rectifying defects. An illegal contract has an unlawful object like murder and cannot be enforced by law.
Types of-contract
There are several types of contracts based on validity, formation, and performance:
Valid contracts comply with all legal requirements and are enforceable. Void agreements lack essential elements like capacity. Void contracts become impossible to perform. Voidable contracts can be repudiated by one party. Quasi-contracts are implied by law without agreement.
Contracts are also classified as express (written or oral), implied based on actions, or quasi-contracts created by law. Additional classifications include unilateral (one duty), bilateral (exchange of duties), executory (not fully performed), and executed (fully performed).
Essentials of a valid contract
This document outlines the key elements required for a valid contract according to Indian law. It discusses the nine essential elements as follows:
1) There must be an offer and acceptance between two parties showing mutual assent.
2) The parties must intend to create legal relations and understand the agreement can be enforced.
3) Consent must be free and not obtained through coercion, undue influence, fraud or mistake.
4) There must be lawful consideration such as an exchange of goods or services.
5) The parties must have the capacity to contract and not be minors or otherwise legally restricted.
6) The object of the agreement must be lawful and not illegal, immoral,
Types of contract
there are six different types of contract,they are :
1.Valid Contract
2.Voidable Contract
3.Void Contract
4.Unenforceable Contract
5.Illegal Contract
6.Contingent Contract
B law
This document provides an overview and classification of different types of contracts under Indian law. It defines what constitutes a valid contract and discusses different categories of contracts based on their enforceability, formation, performance obligations, and more. Key points include:
- Contracts are classified as valid, void, voidable, illegal, or unenforceable based on their legal enforceability. Void contracts cannot be enforced while voidable contracts can be enforced or rescinded by the aggrieved party.
- Contracts are also classified based on how they are formed (express, implied, quasi), whether obligations have been performed (executed or executory), and the obligations of parties (unilateral or bilateral).
- A valid
Contract
The document classifies contracts into five categories: formation, performance, parties, formalities, and legality. Formation includes express, implied, and quasi contracts. Performance includes executed and executory contracts. Parties include bilateral and unilateral contracts. Formalities include formal and informal contracts. Legality includes valid, void, voidable, unenforceable, and illegal agreements. Essential elements of a valid contract are offer/acceptance, intention to create legal obligations, lawful consideration, competent parties, free consent, lawful object, and certainty.
What is the difference between a Contract and an Agreement?
A contract is a legally binding agreement between two or more competent parties that creates obligations. The key elements of a valid contract are offer and acceptance, lawful consideration, capacity and consent of the parties, a lawful object, and certainty. Contracts can be express, implied, oral, or written. An agreement is a broader term that refers to a mutual understanding between parties, but it may lack elements like consideration that are necessary for a contract to be legally enforceable. While contracts create legal obligations, agreements are not always legally binding and can be changed by either party.
Agreement and its types
The document defines an agreement as a understanding between two or more parties regarding their obligations and duties. It discusses the characteristics of a valid agreement, including mutual benefit, clear understanding, feasibility, being in writing, and agreement of all parties. The document then outlines several common types of agreements, such as social agreements, legal agreements, sale agreements, mortgage agreements, construction agreements, research agreements, confidentiality agreements, material transfer agreements, service agreements, and small business innovation research agreements.
Law of Contract- Nature and Kinds
The document defines key concepts in contract law such as void, voidable, unenforceable, illegal contracts. It distinguishes between void and voidable contracts, noting that void contracts cannot be enforced from the beginning while voidable contracts can be enforced or avoided by the aggrieved party. The document also discusses different types of contracts such as express vs implied, executed vs executory, unilateral vs bilateral, and formal vs simple contracts.
nature of_contract
The document discusses the nature of contracts under Indian law. It defines key terms like jus in rem, jus in personam, agreement, promise, and obligation. It explains that a contract requires an agreement with intent to create a legal obligation, lawful consideration, capacity and consent of parties, a lawful object, certainty and possibility of performance. The essential elements of a valid contract according to Indian Contract Act are also summarized. Finally, the document outlines different types of contracts based on their creation, execution and validity.
A contract is a legally binding agreement or relationship that exists between...
A contract is a legally binding agreement or relationship that exists between...chelliah selvavishnu
A contract is a legally binding agreement between two or more parties that is enforceable by law. For a contract to be valid, it requires elements such as offer and acceptance, lawful consideration, capacity and consent of the parties, a lawful objective, and certainty. All contracts are considered agreements, as they involve mutual understanding and consent between parties. However, not all agreements result in contracts, as they must also create binding legal obligations in order to be enforceable.Types of contract - Legal Environment of Business - Business Law - Manu Melwi...
Valid Contract – An agreement enforced by law is a valid contract. An agreement becomes a valid contract when it fulfills all the essentials of a contract as laid down in section 10.
Chapter 1 nature of contract
The document discusses the nature of contracts under Indian law. It provides background on the Indian Contract Act of 1872, which aims to ensure definiteness in business transactions and the realization of parties' reasonable expectations. The Act deals with general contract principles and some special contracts, but does not cover all agreements or obligations. A contract under the Act requires offer and acceptance, intention to create legal relations, lawful consideration, capacity of parties, free consent, a lawful object, and certainty of terms. Contracts are further classified by their formation, performance, validity and other attributes under both Indian and English law.
Contract act kinds of contract
This document defines and provides examples of different types of contracts: voidable contracts can be avoided by one party; void contracts are invalid from the start; unenforceable contracts cannot be proven in court; executed contracts have been fully performed by both parties; executory contracts have obligations still to be performed; express contracts have written or spoken terms; implied contracts have inferred terms; quasi contracts resemble contracts; and contingent contracts depend on uncertain future events.
Law of contract
This document provides an overview of Indian contract law, including definitions of key terms, sections of the Indian Contract Act of 1872, and types of contracts. It defines a contract, outlines essential elements like offer and acceptance, explains special contracts including indemnity, guarantee, and bailment. In under 3 sentences: The document discusses the basic concepts of contract law in India, summarizing definitions from the Indian Contract Act of 1872 and describing essential elements of a valid contract as well as special types of contracts relating to indemnity, guarantee, and bailment under Indian law.
Contract law
Contracts are a part of our everyday life, arising in collaboration, trust, promise and credit.
How are contracts formed? What makes a contract enforceable? What happens when one party breaks a promise?
Classification of contract
Contracts can be classified based on formation, validity, and performance. Formation includes express, implied, and quasi-contracts. Validity looks at valid, void, voidable, and illegal contracts. Performance distinguishes executed, executory, unilateral, and bilateral contracts.
A breach of contract occurs when a party fails to perform their obligations under the contract. Remedies for breach include rescission of contract, damages, specific performance where a breaching party must fulfill their duties, injunction to prevent prohibited acts, and quantum meruit for partial performance. Damages are further specified as ordinary, special, exemplary, and nominal depending on the type and circumstances of loss from the breach.
Contract act
The document discusses the differences between contracts and agreements. It defines contracts as legally enforceable agreements that contain elements like offer, acceptance, consideration and intention to create legal obligations. Agreements are not necessarily legally binding but can become contracts if they satisfy the requirements. The key difference is that all contracts are agreements but not all agreements are contracts as contracts must be enforceable by law. Examples are provided to illustrate an unenforceable agreement versus an enforceable contract.
Introduction to agreement and contract
The Slides provide the complete introduction to the Contract law in India as per The Indian Contract Act, 1872
When is an Agreement a Contract
This document discusses the key differences between agreements and contracts. Agreements are generally not legally enforceable, while contracts are. For something to be a contract it must include an offer, acceptance, consideration, capacity to contract, and an intention to be legally bound. Contracts are used to manage risk and provide clear expectations, while agreements lack an intention for legal enforcement. The document provides guidance on when to use a contract versus an agreement and outlines important rules for contract construction and interpretation.
Contract Void Agreementst I
This document discusses various types of void agreements under Indian contract law. It covers agreements that have an unlawful consideration or object, agreements without consideration, agreements in restraint of marriage or trade, agreements restricting legal proceedings, ambiguous or uncertain agreements, and agreements that require an impossible act. Specific sections of the Indian Contract Act are referenced relating to agreements that are void due to uncertainty, restraint of legal proceedings, or restraint of trade. Exceptions and court cases relating to these topics are also mentioned.
Types of contract
There are several types of contracts:
1. A valid contract is enforceable by law when all essential elements are present.
2. A voidable contract can be voided when consent is not free, such as under threat.
3. A void contract has no legal effect.
Contracts can also be express (verbal or written), implied (based on actions), quasi (not by agreement but recognized by law), executed (both parties fulfilled obligations), or executory (obligations still need to be performed).
Types of conract
The document provides an overview of contract law in India according to the Indian Contract Act of 1872. It defines key terms like contract, agreement, and promise. A contract is an agreement that is enforceable by law, containing an offer, acceptance, and consideration. The document outlines the essential elements of a valid contract and classifications of contracts based on enforceability, formation, performance, and obligations. It provides examples to illustrate different types of contracts.
More Related Content
What's hot
Types of-contract
There are several types of contracts based on validity, formation, and performance:
Valid contracts comply with all legal requirements and are enforceable. Void agreements lack essential elements like capacity. Void contracts become impossible to perform. Voidable contracts can be repudiated by one party. Quasi-contracts are implied by law without agreement.
Contracts are also classified as express (written or oral), implied based on actions, or quasi-contracts created by law. Additional classifications include unilateral (one duty), bilateral (exchange of duties), executory (not fully performed), and executed (fully performed).
Essentials of a valid contract
This document outlines the key elements required for a valid contract according to Indian law. It discusses the nine essential elements as follows:
1) There must be an offer and acceptance between two parties showing mutual assent.
2) The parties must intend to create legal relations and understand the agreement can be enforced.
3) Consent must be free and not obtained through coercion, undue influence, fraud or mistake.
4) There must be lawful consideration such as an exchange of goods or services.
5) The parties must have the capacity to contract and not be minors or otherwise legally restricted.
6) The object of the agreement must be lawful and not illegal, immoral,
Types of contract
there are six different types of contract,they are :
1.Valid Contract
2.Voidable Contract
3.Void Contract
4.Unenforceable Contract
5.Illegal Contract
6.Contingent Contract
B law
This document provides an overview and classification of different types of contracts under Indian law. It defines what constitutes a valid contract and discusses different categories of contracts based on their enforceability, formation, performance obligations, and more. Key points include:
- Contracts are classified as valid, void, voidable, illegal, or unenforceable based on their legal enforceability. Void contracts cannot be enforced while voidable contracts can be enforced or rescinded by the aggrieved party.
- Contracts are also classified based on how they are formed (express, implied, quasi), whether obligations have been performed (executed or executory), and the obligations of parties (unilateral or bilateral).
- A valid
Contract
The document classifies contracts into five categories: formation, performance, parties, formalities, and legality. Formation includes express, implied, and quasi contracts. Performance includes executed and executory contracts. Parties include bilateral and unilateral contracts. Formalities include formal and informal contracts. Legality includes valid, void, voidable, unenforceable, and illegal agreements. Essential elements of a valid contract are offer/acceptance, intention to create legal obligations, lawful consideration, competent parties, free consent, lawful object, and certainty.
What is the difference between a Contract and an Agreement?
A contract is a legally binding agreement between two or more competent parties that creates obligations. The key elements of a valid contract are offer and acceptance, lawful consideration, capacity and consent of the parties, a lawful object, and certainty. Contracts can be express, implied, oral, or written. An agreement is a broader term that refers to a mutual understanding between parties, but it may lack elements like consideration that are necessary for a contract to be legally enforceable. While contracts create legal obligations, agreements are not always legally binding and can be changed by either party.
Agreement and its types
The document defines an agreement as a understanding between two or more parties regarding their obligations and duties. It discusses the characteristics of a valid agreement, including mutual benefit, clear understanding, feasibility, being in writing, and agreement of all parties. The document then outlines several common types of agreements, such as social agreements, legal agreements, sale agreements, mortgage agreements, construction agreements, research agreements, confidentiality agreements, material transfer agreements, service agreements, and small business innovation research agreements.
Law of Contract- Nature and Kinds
The document defines key concepts in contract law such as void, voidable, unenforceable, illegal contracts. It distinguishes between void and voidable contracts, noting that void contracts cannot be enforced from the beginning while voidable contracts can be enforced or avoided by the aggrieved party. The document also discusses different types of contracts such as express vs implied, executed vs executory, unilateral vs bilateral, and formal vs simple contracts.
nature of_contract
The document discusses the nature of contracts under Indian law. It defines key terms like jus in rem, jus in personam, agreement, promise, and obligation. It explains that a contract requires an agreement with intent to create a legal obligation, lawful consideration, capacity and consent of parties, a lawful object, certainty and possibility of performance. The essential elements of a valid contract according to Indian Contract Act are also summarized. Finally, the document outlines different types of contracts based on their creation, execution and validity.
A contract is a legally binding agreement or relationship that exists between...
A contract is a legally binding agreement or relationship that exists between...chelliah selvavishnu
A contract is a legally binding agreement between two or more parties that is enforceable by law. For a contract to be valid, it requires elements such as offer and acceptance, lawful consideration, capacity and consent of the parties, a lawful objective, and certainty. All contracts are considered agreements, as they involve mutual understanding and consent between parties. However, not all agreements result in contracts, as they must also create binding legal obligations in order to be enforceable.Types of contract - Legal Environment of Business - Business Law - Manu Melwi...
Valid Contract – An agreement enforced by law is a valid contract. An agreement becomes a valid contract when it fulfills all the essentials of a contract as laid down in section 10.
Chapter 1 nature of contract
The document discusses the nature of contracts under Indian law. It provides background on the Indian Contract Act of 1872, which aims to ensure definiteness in business transactions and the realization of parties' reasonable expectations. The Act deals with general contract principles and some special contracts, but does not cover all agreements or obligations. A contract under the Act requires offer and acceptance, intention to create legal relations, lawful consideration, capacity of parties, free consent, a lawful object, and certainty of terms. Contracts are further classified by their formation, performance, validity and other attributes under both Indian and English law.
Contract act kinds of contract
This document defines and provides examples of different types of contracts: voidable contracts can be avoided by one party; void contracts are invalid from the start; unenforceable contracts cannot be proven in court; executed contracts have been fully performed by both parties; executory contracts have obligations still to be performed; express contracts have written or spoken terms; implied contracts have inferred terms; quasi contracts resemble contracts; and contingent contracts depend on uncertain future events.
Law of contract
This document provides an overview of Indian contract law, including definitions of key terms, sections of the Indian Contract Act of 1872, and types of contracts. It defines a contract, outlines essential elements like offer and acceptance, explains special contracts including indemnity, guarantee, and bailment. In under 3 sentences: The document discusses the basic concepts of contract law in India, summarizing definitions from the Indian Contract Act of 1872 and describing essential elements of a valid contract as well as special types of contracts relating to indemnity, guarantee, and bailment under Indian law.
Contract law
Contracts are a part of our everyday life, arising in collaboration, trust, promise and credit.
How are contracts formed? What makes a contract enforceable? What happens when one party breaks a promise?
Classification of contract
Contracts can be classified based on formation, validity, and performance. Formation includes express, implied, and quasi-contracts. Validity looks at valid, void, voidable, and illegal contracts. Performance distinguishes executed, executory, unilateral, and bilateral contracts.
A breach of contract occurs when a party fails to perform their obligations under the contract. Remedies for breach include rescission of contract, damages, specific performance where a breaching party must fulfill their duties, injunction to prevent prohibited acts, and quantum meruit for partial performance. Damages are further specified as ordinary, special, exemplary, and nominal depending on the type and circumstances of loss from the breach.
Contract act
The document discusses the differences between contracts and agreements. It defines contracts as legally enforceable agreements that contain elements like offer, acceptance, consideration and intention to create legal obligations. Agreements are not necessarily legally binding but can become contracts if they satisfy the requirements. The key difference is that all contracts are agreements but not all agreements are contracts as contracts must be enforceable by law. Examples are provided to illustrate an unenforceable agreement versus an enforceable contract.
Introduction to agreement and contract
The Slides provide the complete introduction to the Contract law in India as per The Indian Contract Act, 1872
When is an Agreement a Contract
This document discusses the key differences between agreements and contracts. Agreements are generally not legally enforceable, while contracts are. For something to be a contract it must include an offer, acceptance, consideration, capacity to contract, and an intention to be legally bound. Contracts are used to manage risk and provide clear expectations, while agreements lack an intention for legal enforcement. The document provides guidance on when to use a contract versus an agreement and outlines important rules for contract construction and interpretation.
Contract Void Agreementst I
This document discusses various types of void agreements under Indian contract law. It covers agreements that have an unlawful consideration or object, agreements without consideration, agreements in restraint of marriage or trade, agreements restricting legal proceedings, ambiguous or uncertain agreements, and agreements that require an impossible act. Specific sections of the Indian Contract Act are referenced relating to agreements that are void due to uncertainty, restraint of legal proceedings, or restraint of trade. Exceptions and court cases relating to these topics are also mentioned.
What's hot (20)
What is the difference between a Contract and an Agreement?
What is the difference between a Contract and an Agreement?
A contract is a legally binding agreement or relationship that exists between...
A contract is a legally binding agreement or relationship that exists between...
Types of contract - Legal Environment of Business - Business Law - Manu Melwi...
Types of contract - Legal Environment of Business - Business Law - Manu Melwi...
Viewers also liked
Types of contract
There are several types of contracts:
1. A valid contract is enforceable by law when all essential elements are present.
2. A voidable contract can be voided when consent is not free, such as under threat.
3. A void contract has no legal effect.
Contracts can also be express (verbal or written), implied (based on actions), quasi (not by agreement but recognized by law), executed (both parties fulfilled obligations), or executory (obligations still need to be performed).
Types of conract
The document provides an overview of contract law in India according to the Indian Contract Act of 1872. It defines key terms like contract, agreement, and promise. A contract is an agreement that is enforceable by law, containing an offer, acceptance, and consideration. The document outlines the essential elements of a valid contract and classifications of contracts based on enforceability, formation, performance, and obligations. It provides examples to illustrate different types of contracts.
Types of contract in Project management
The document discusses different types of contracts that may be used in project management. It describes fixed price/lump sum contracts where a specific deliverable is agreed to for a set price, carrying more risk for the seller. Cost-reimbursable contracts reimburse the seller for all allowable costs and come in forms like cost plus fee or cost plus fixed fee. Time and materials contracts bill the buyer based on hours worked and materials used by the seller.
CONTRACTS AND ITS TYPES
There are several types of construction contracts. Price-based contracts include lump sum contracts, where the contractor is paid a fixed price for the entire project, and unit price contracts, where payment is made based on rates for individual work units. Cost-based contracts include cost plus contracts, where the contractor is reimbursed for costs plus a fee or percentage, and guaranteed maximum price contracts, where the owner's liability is capped but the contractor can retain savings if the project costs less than estimated. The appropriate contract type depends on factors like project scope definition and risk allocation between owner and contractor.
The Basics of Contracting
The document provides an overview of contract types and selection criteria. It defines key terms like statement of work and discusses different categories of contracts including fixed-price, cost reimbursement, and structured types. For each major contract type there are sub-types described in detail, outlining their characteristics, common applications, benefits, and constraints. The document aims to guide selection of the optimal contract type based on the specific needs, risks, and circumstances involved.
Types of contracts
This document discusses various aspects of contract management for construction projects including methods of work execution, types of contracts, and the tendering process. It describes executing work through amanat (directly by the owner) or through contracts. It outlines various types of contracts like lump sum, unit price, cost reimbursable, design-build, and BOOT/BOT. Finally, it explains the tendering process which involves preparation, tender notice, tender document, conditions of contract, prequalification, evaluation, and selection/award.
Essential elements of a valid contract
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 the parties to contract, (4) free consent, (5) a lawful object, (6) intention to create legal relations, (7) certainty and possibility of performance, and (8) no legal formalities required or fulfilled. It provides definitions and examples for key terms like agreement, promise, consideration, and capacity. It also outlines exceptions for certain domestic agreements and situations that would make a contract void.
Introduction to Contract Law
A contract is a legally binding agreement between two or more parties that creates obligations that are enforceable in a court of law. There are several essential elements for a valid contract, including agreement between the parties, consideration or an exchange of promises, intention to create a legal relationship, capacity to contract, and absence of factors that could invalidate the contract like duress or illegality. Contracts can be written, oral, or partly written and oral, and they create rights and obligations for the contracting parties that define their relationship.
Types of Contract in Construction Management
This document describes several types of construction contracts: lump-sum, cost plus fixed fee, cost plus bid fee, guaranteed maximum, negotiated, unit-price, design-build, and turn-key. Lump-sum contracts establish a fixed total price upfront, while cost plus contracts reimburse the contractor's costs plus a fixed or percentage-based fee. Guaranteed maximum contracts set a ceiling on costs. Negotiated, unit-price, design-build, and turn-key contracts vary in responsibilities and payment structures.
ESSENTIAL ELEMENTS OF A VALID CONTRACT
The document outlines the 10 essential elements of a valid contract according to Indian contract law: 1) Proper offer and acceptance, 2) Intention to create a legal relationship, 3) Lawful consideration, 4) Competent parties, 5) Free consent, 6) Lawful object, 7) Certainty of meaning, 8) Possibility of performance, 9) Not declared void or illegal, and 10) Compliance with legal formalities such as writing or registration requirements. The elements must all be present for an agreement to be considered an enforceable contract under Indian law.
Study notes contract law
The document provides an overview of the analytical framework of contract law. It discusses the key elements in the formation of contracts, including offers, acceptance, consideration, and intention to create legal relations. It also covers the requirements of certainty, completeness, and form in contracts. The document is divided into five parts that will examine how contracts are formed, the content of contracts, who can enforce contracts, how contracts can be destroyed, and how contracts come to an end or are discharged.
Contract Types + EVMS
The document discusses different types of government contracts, including fixed price, cost type, and flexibly priced contracts. It explains key aspects of each contract type such as risk allocation, payment methods, and fee structures. The document also provides an overview of Earned Value Management (EVMS), describing it as a method to correlate cost and schedule performance by tracking budgeted, earned, and actual costs over the life of a contract.
Contract Management in Civil Engineering Works
The document discusses key concepts related to proposals, promises, agreements and contracts under Indian law. It defines proposals, acceptance, consideration and how they become binding contracts. It provides examples of proposals, promises and acceptance between an engineer and contractor. It outlines requirements for a valid contract such as offer and acceptance, certainty, commitment and communication. It discusses void agreements, voidable contracts and how to revoke a proposal or acceptance. Key points include that acceptance must be absolute and unqualified, consent must be free of coercion or undue influence, and acceptance cannot impose additional conditions or vary the original offer.
Types of Contracts
This document discusses different types of contracts based on their formation, validity, execution, and liability. There are several types of contracts based on formation such as expressed, implied, tacit, quasi, and e-contracts. Contracts can also be classified as valid, voidable, void, illegal, or unenforceable based on their validity. Execution of contracts determines whether they are executed or executory. Finally, contracts differ in liability and can be unilateral, where one party performs, or bilateral, where both parties have outstanding obligations.
Essentials of a valid contract
The key elements of a valid contract are:
1. Offer - A proposal made with intention to obtain legal consent from the offeree. It must be clear, definite, complete and communicated to the offeree.
2. Intention to create legal relations - There must be an intention between parties to create legal obligations.
3. Consideration - There must be something of value exchanged between parties, such as a promise for a promise. Consideration can be executory, executed, or past consideration.
Project WeLike Welingkar PGDM-HB-Semester 2
1. Snapdeal plans to help 10,000 of its active sellers generate 1 crore (10 million) rupees each in business through various support programs. This will help the sellers grow their businesses and increase Snapdeal's own revenues.
2. Ecommerce companies are expected to contribute to a 13% rise in India's overall advertising spending in 2016 according to forecasts, as the sector continues growing rapidly in India.
3. Quikr acquired the online real estate portal Commonfloor.com for $120 million to expand into the real estate classifieds business.
Six elements of a contract
This document summarizes the six elements of a valid contract: 1) offer, which is a proposal made with serious intent by an offeror to an offeree; 2) acceptance, which is an unqualified agreement to the offer's terms without modification; 3) genuine agreement between the parties to create a final contract; 4) consideration, which is the exchange of benefits and detriments by the parties; 5) contractual capacity of the parties to enter into an agreement; and 6) legality in accordance with civil and criminal law as well as public policy.
Nature of contract
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.
Contract ppt
The document defines key terms related to contracts under Indian law such as proposal, acceptance, consideration and consent. It outlines the essential elements of a valid contract including offer and acceptance, intention to create a legal relationship, lawful consideration, capacity and consent of parties. It also discusses circumstances that can invalidate consent such as coercion, undue influence, misrepresentation and fraud.
The Ten Golden Rules of Internet Marketing: CRM Edition
Jay Berkowitz, CEO, Ten Golden Rules, Las Dies Reglas de Internet Marketing: Edición CRM. The Ten Golden Rules of Internet Marketing: CRM Edition
Viewers also liked (20)
The Ten Golden Rules of Internet Marketing: CRM Edition
The Ten Golden Rules of Internet Marketing: CRM Edition
Recently uploaded
How to Create a More Engaging and Human Online Learning Experience
How to Create a More Engaging and Human Online Learning Experience Wahiba Chair Training & Consulting
Wahiba Chair's Talk at the 2024 Learning Ideas Conference. What is Digital Literacy? A guest blog from Andy McLaughlin, University of Ab...
What is Digital Literacy? A guest blog from Andy McLaughlin, University of Aberdeen
BBR 2024 Summer Sessions Interview Training
Qualitative research interview training by Professor Katrina Pritchard and Dr Helen Williams
RHEOLOGY Physical pharmaceutics-II notes for B.pharm 4th sem students
Physical pharmaceutics notes for B.pharm students
Advanced Java[Extra Concepts, Not Difficult].docx
This is part 2 of my Java Learning Journey. This contains Hashing, ArrayList, LinkedList, Date and Time Classes, Calendar Class and more.
clinical examination of hip joint (1).pdf
described clinical examination all orthopeadic conditions .
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) Curriculum
(𝐓𝐋𝐄 𝟏𝟎𝟎) (𝐋𝐞𝐬𝐬𝐨𝐧 𝟏)-𝐏𝐫𝐞𝐥𝐢𝐦𝐬
𝐃𝐢𝐬𝐜𝐮𝐬𝐬 𝐭𝐡𝐞 𝐄𝐏𝐏 𝐂𝐮𝐫𝐫𝐢𝐜𝐮𝐥𝐮𝐦 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐡𝐢𝐥𝐢𝐩𝐩𝐢𝐧𝐞𝐬:
- Understand the goals and objectives of the Edukasyong Pantahanan at Pangkabuhayan (EPP) curriculum, recognizing its importance in fostering practical life skills and values among students. Students will also be able to identify the key components and subjects covered, such as agriculture, home economics, industrial arts, and information and communication technology.
𝐄𝐱𝐩𝐥𝐚𝐢𝐧 𝐭𝐡𝐞 𝐍𝐚𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 𝐒𝐜𝐨𝐩𝐞 𝐨𝐟 𝐚𝐧 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫:
-Define entrepreneurship, distinguishing it from general business activities by emphasizing its focus on innovation, risk-taking, and value creation. Students will describe the characteristics and traits of successful entrepreneurs, including their roles and responsibilities, and discuss the broader economic and social impacts of entrepreneurial activities on both local and global scales.
Solutons Maths Escape Room Spatial .pptx
Solutions of Puzzles of Mathematics Escape Room Game in Spatial.io
Bed Making ( Introduction, Purpose, Types, Articles, Scientific principles, N...
Topic : Bed making
Subject : Nursing Foundation
Gender and Mental Health - Counselling and Family Therapy Applications and In...
A proprietary approach developed by bringing together the best of learning theories from Psychology, design principles from the world of visualization, and pedagogical methods from over a decade of training experience, that enables you to: Learn better, faster!
BÀI TẬP DẠY THÊM TIẾNG ANH LỚP 7 CẢ NĂM FRIENDS PLUS SÁCH CHÂN TRỜI SÁNG TẠO ...
BÀI TẬP DẠY THÊM TIẾNG ANH LỚP 7 CẢ NĂM FRIENDS PLUS SÁCH CHÂN TRỜI SÁNG TẠO ...Nguyen Thanh Tu Collection
https://app.box.com/s/qhtvq32h4ybf9t49ku85x0n3xl4jhr15ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
-------------------------------------------------------------------------------
Find out more about ISO training and certification services
Training: ISO/IEC 27001 Information Security Management System - EN | PECB
ISO/IEC 42001 Artificial Intelligence Management System - EN | PECB
General Data Protection Regulation (GDPR) - Training Courses - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
-------------------------------------------------------------------------------
For more information about PECB:
Website: https://pecb.com/
LinkedIn: https://www.linkedin.com/company/pecb/
Facebook: https://www.facebook.com/PECBInternational/
Slideshare: http://www.slideshare.net/PECBCERTIFICATION
Main Java[All of the Base Concepts}.docx
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
The History of Stoke Newington Street Names
Presented at the Stoke Newington Literary Festival on 9th June 2024
www.StokeNewingtonHistory.com
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2023-2024 (CÓ FI...
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2023-2024 (CÓ FI...Nguyen Thanh Tu Collection
https://app.box.com/s/y977uz6bpd3af4qsebv7r9b7s21935vdRecently uploaded (20)
How to Create a More Engaging and Human Online Learning Experience
How to Create a More Engaging and Human Online Learning Experience
What is Digital Literacy? A guest blog from Andy McLaughlin, University of Ab...
What is Digital Literacy? A guest blog from Andy McLaughlin, University of Ab...
RHEOLOGY Physical pharmaceutics-II notes for B.pharm 4th sem students
RHEOLOGY Physical pharmaceutics-II notes for B.pharm 4th sem students
spot a liar (Haiqa 146).pptx Technical writhing and presentation skills
spot a liar (Haiqa 146).pptx Technical writhing and presentation skills
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) Curriculum
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) Curriculum
Bed Making ( Introduction, Purpose, Types, Articles, Scientific principles, N...
Bed Making ( Introduction, Purpose, Types, Articles, Scientific principles, N...
Gender and Mental Health - Counselling and Family Therapy Applications and In...
Gender and Mental Health - Counselling and Family Therapy Applications and In...
BÀI TẬP DẠY THÊM TIẾNG ANH LỚP 7 CẢ NĂM FRIENDS PLUS SÁCH CHÂN TRỜI SÁNG TẠO ...
BÀI TẬP DẠY THÊM TIẾNG ANH LỚP 7 CẢ NĂM FRIENDS PLUS SÁCH CHÂN TRỜI SÁNG TẠO ...
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2023-2024 (CÓ FI...
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2023-2024 (CÓ FI...
Syuhada n idayu types of contract ppt
- 1. TYPES OF CONTRACTSBUSINESS LAW LGB 30603 GROUP MEMBERS: NURSYUHADA BT RAZALI NOOR IDAYU BT DZULKIFLI
- 2. 8 TYPES OF CONTRACTS
- 4. EXECUTED CONTRACTS @A contract which terms have been completely fulfilled. Example: as where an article is sold and delivered, and payment is made on the spot.
- 5. ADHESION CONTRACTS Example : Astro, Telecom service
- 7. If a contract can be rejected by one of the parties on legal grounds, it is called a VOIDABLE CONTRACT. A voidable contract is valid and binding unless the entitled party (the party who has legal grounds to reject the contract) voids it.
- 8. THE END