SlideShare a Scribd company logo
PPT by: Sandeep Sharma
“Start Up”
1st Que. What kind of Business…???
 a Partnership
 Sole Proprietorship, etc etc…
This Que. fall under the Laws that governs “Business
Entities”, which are State Laws.
PPT by: Sandeep Sharma
My Tax Plan
PPT by: Sandeep Sharma
“Start Up”
2nd Que. Name of my Business…???
 ABC Company
 XYZ Company, etc etc…
Patents, Copyrights & Trademarks are Intellectual
Property Law.
PPT by: Sandeep Sharma
“Start Up”
3rd Que. License/Permits…???
PPT by: Sandeep Sharma
“Start Up”
4th Que. Advertisements…???
 Print Ads
 Social Media Ads,
 Digital Media Ads, etc etc…
“Consumer Protection Law”.
PPT by: Sandeep Sharma
“Buy a Running Business”
 Do I own the actual Store, “Real Estate Law”
 Am I the Boss now, “Employment Law”
 Can I start Hiring my own Employees, “Contract Law”
& sooooo on...
PPT by: Sandeep Sharma
A rule made by a government that states
how people may & may not behave
in society & in business and that often
orders particular punishments if they
do not obey…
PPT by: Sandeep Sharma
Law that dictates how to form & run a
business.
PPT by: Sandeep Sharma
 1st September 1872
It extends to whole India except J&K
Sale of goods act, separated in 1930
Partnership act, separated in 1932
PPT by: Sandeep Sharma
Every agreement is not a Contract but
every Contract is an agreement.
A + E2 = C
(Agreement + Essential Elements = Contract)
PPT by: Sandeep Sharma
Definitions
Agreement: means a promise or set of
promises forming consideration for each
other, by Section 2(e).
Contract: an agreement & promises
“enforceable” by law is a Contract, by Section
2(h).
PPT by: Sandeep Sharma
i. At least 2 or more parties,
ii. Offer & acceptance,
iii. Intention to create legal relationship,
iv. Free consent,
v. Possibility of performance,
vi. Consideration,
PPT by: Sandeep Sharma
A consent is said to be free, when it is not obtained
by:-
Coercion (contract at gun point)
Undue Influence (spiritual guru induce devotee )
Fraud (gain sth unfairly/unlawfully)
Misrepresentation (hide the wrong facts)
Mistake (without knowledge of the law, enters into
a contract)
PPT by: Sandeep Sharma
vii. Capacity to enter into a contract,
viii. Lawful object,
ix. Consenses – ad – idem,
x. Certainty,
xi. Agreement should not be expressively void
by the law,
xii. Legal formalities.
PPT by: Sandeep Sharma
A person should not be:-
 MINOR (below 18 years)
 UNSOUND MIND
 INSOLVENT
 CONVICTED (Criminal/Disqualified by Law)
 ALIEN ENEMY
PPT by: Sandeep Sharma

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The Contract Act "PART 1" (Chapter 1) - Business Law

  • 2. “Start Up” 1st Que. What kind of Business…???  a Partnership  Sole Proprietorship, etc etc… This Que. fall under the Laws that governs “Business Entities”, which are State Laws. PPT by: Sandeep Sharma
  • 3. My Tax Plan PPT by: Sandeep Sharma
  • 4. “Start Up” 2nd Que. Name of my Business…???  ABC Company  XYZ Company, etc etc… Patents, Copyrights & Trademarks are Intellectual Property Law. PPT by: Sandeep Sharma
  • 5. “Start Up” 3rd Que. License/Permits…??? PPT by: Sandeep Sharma
  • 6. “Start Up” 4th Que. Advertisements…???  Print Ads  Social Media Ads,  Digital Media Ads, etc etc… “Consumer Protection Law”. PPT by: Sandeep Sharma
  • 7. “Buy a Running Business”  Do I own the actual Store, “Real Estate Law”  Am I the Boss now, “Employment Law”  Can I start Hiring my own Employees, “Contract Law” & sooooo on... PPT by: Sandeep Sharma
  • 8. A rule made by a government that states how people may & may not behave in society & in business and that often orders particular punishments if they do not obey… PPT by: Sandeep Sharma
  • 9. Law that dictates how to form & run a business. PPT by: Sandeep Sharma
  • 10.  1st September 1872 It extends to whole India except J&K Sale of goods act, separated in 1930 Partnership act, separated in 1932 PPT by: Sandeep Sharma
  • 11. Every agreement is not a Contract but every Contract is an agreement. A + E2 = C (Agreement + Essential Elements = Contract) PPT by: Sandeep Sharma
  • 12. Definitions Agreement: means a promise or set of promises forming consideration for each other, by Section 2(e). Contract: an agreement & promises “enforceable” by law is a Contract, by Section 2(h). PPT by: Sandeep Sharma
  • 13. i. At least 2 or more parties, ii. Offer & acceptance, iii. Intention to create legal relationship, iv. Free consent, v. Possibility of performance, vi. Consideration, PPT by: Sandeep Sharma
  • 14. A consent is said to be free, when it is not obtained by:- Coercion (contract at gun point) Undue Influence (spiritual guru induce devotee ) Fraud (gain sth unfairly/unlawfully) Misrepresentation (hide the wrong facts) Mistake (without knowledge of the law, enters into a contract) PPT by: Sandeep Sharma
  • 15. vii. Capacity to enter into a contract, viii. Lawful object, ix. Consenses – ad – idem, x. Certainty, xi. Agreement should not be expressively void by the law, xii. Legal formalities. PPT by: Sandeep Sharma
  • 16. A person should not be:-  MINOR (below 18 years)  UNSOUND MIND  INSOLVENT  CONVICTED (Criminal/Disqualified by Law)  ALIEN ENEMY PPT by: Sandeep Sharma