Void Agreement
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Void agreements
The document discusses various types of agreements that are considered void under Indian contract law. It outlines agreements that are void because [1] they were entered into by an incompetent party, [2] there was a mutual mistake on an essential fact by both parties, or [3] the object or consideration of the agreement is unlawful or unlawful in part. It also discusses agreements that are void if they restrain marriage, trade, or legal proceedings. Agreements are also void if their meaning is uncertain or if they constitute wagering agreements.
Capacity to contract
A minor's agreements are void and cannot be ratified or create estoppel, even if the minor becomes insolvent. Agreements by those of unsound mind or those who are disqualified like convicts or insolvents are also not enforceable. Minors and those of unsound mind have limited capacity to enter into contracts under law.
Capacity to contract
The document discusses the capacity to contract under Indian law. It defines who is competent to enter into a contract according to Section 11 of the Contract Act, including those of the age of majority and of sound mind. It then discusses those who are incompetent to contract, such as minors under 18 years old, those of unsound mind (lunatics, idiots, drunk/intoxicated), and those disqualified by law like alien enemies and convicts. The document provides further details on the rules for minors, those of unsound mind, and those disqualified contracting. It also discusses exceptions for necessaries supplied to minors and those of unsound mind.
Capacity to Contracts !
This document discusses the capacity to contract under Indian law, specifically regarding minors (those under 18 years of age). It provides details on:
1) A minor's agreement is void according to a 1903 Privy Council case, meaning it cannot be enforced by law. However, a minor can be liable for necessaries (essential goods/services) supplied to them.
2) While a minor cannot be held liable for breaching a contract, they can be liable for torts (civil wrongs) that are totally independent of the contract, such as negligently killing a rented animal.
3) When an action in tort would indirectly enforce a contract, such as suing for fraud over a loan
Free consent
The document discusses the essential elements of a valid contract under Indian law, focusing on the requirement of free consent. It defines key terms including consent, coercion, undue influence, misrepresentation, and mistake. For each term, it provides the legal definition from the Indian Contract Act and illustrations of how those concepts apply in assessing whether a contract is voidable due to a lack of free consent. Overall, the document outlines how lack of free consent due to coercion, undue influence, fraud, misrepresentation or mistake can potentially invalidate a contract.
Indian Contract Act 1872 Competency Of The Parties to contract
The document discusses the requirements for competency to contract under Indian contract law. It outlines that parties must be of the age of majority, of sound mind, and not disqualified by law. Those deemed incompetent include minors under 18, persons of unsound mind like idiots and lunatics, and those disqualified such as aliens, convicts, and corporations. The Indian Contract Act of 1872 establishes these rules for determining the validity and enforceability of contracts in India.
Free consent/Law of Contract/Business Law
The document discusses the concept of free consent in contracts. It defines key terms like consent, coercion, undue influence, misrepresentation, and fraud.
Free consent is consent that is not caused by coercion, undue influence, fraud, misrepresentation, or mistake. Coercion involves threatening unlawful acts, while undue influence involves exploiting power dynamics in relationships.
Misrepresentation involves innocent factual errors, while fraud requires intentionally deceiving the other party. Examples are provided to illustrate these concepts. Threats of suicide can amount to coercion. The document compares coercion and undue influence and outlines the requirements for establishing misrepresentation and fraud.
Lecture 6.
The document discusses various aspects of free consent in contracts under Indian law. It defines consent, coercion, undue influence, fraud, and mistake. It provides examples and explanations for when consent is not considered free due to these factors. Consent obtained through coercion, undue influence, fraud, or mistake may make a contract voidable.
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Void agreements
The document discusses various types of agreements that are considered void under Indian contract law. It outlines agreements that are void because [1] they were entered into by an incompetent party, [2] there was a mutual mistake on an essential fact by both parties, or [3] the object or consideration of the agreement is unlawful or unlawful in part. It also discusses agreements that are void if they restrain marriage, trade, or legal proceedings. Agreements are also void if their meaning is uncertain or if they constitute wagering agreements.
Capacity to contract
A minor's agreements are void and cannot be ratified or create estoppel, even if the minor becomes insolvent. Agreements by those of unsound mind or those who are disqualified like convicts or insolvents are also not enforceable. Minors and those of unsound mind have limited capacity to enter into contracts under law.
Capacity to contract
The document discusses the capacity to contract under Indian law. It defines who is competent to enter into a contract according to Section 11 of the Contract Act, including those of the age of majority and of sound mind. It then discusses those who are incompetent to contract, such as minors under 18 years old, those of unsound mind (lunatics, idiots, drunk/intoxicated), and those disqualified by law like alien enemies and convicts. The document provides further details on the rules for minors, those of unsound mind, and those disqualified contracting. It also discusses exceptions for necessaries supplied to minors and those of unsound mind.
Capacity to Contracts !
This document discusses the capacity to contract under Indian law, specifically regarding minors (those under 18 years of age). It provides details on:
1) A minor's agreement is void according to a 1903 Privy Council case, meaning it cannot be enforced by law. However, a minor can be liable for necessaries (essential goods/services) supplied to them.
2) While a minor cannot be held liable for breaching a contract, they can be liable for torts (civil wrongs) that are totally independent of the contract, such as negligently killing a rented animal.
3) When an action in tort would indirectly enforce a contract, such as suing for fraud over a loan
Free consent
The document discusses the essential elements of a valid contract under Indian law, focusing on the requirement of free consent. It defines key terms including consent, coercion, undue influence, misrepresentation, and mistake. For each term, it provides the legal definition from the Indian Contract Act and illustrations of how those concepts apply in assessing whether a contract is voidable due to a lack of free consent. Overall, the document outlines how lack of free consent due to coercion, undue influence, fraud, misrepresentation or mistake can potentially invalidate a contract.
Indian Contract Act 1872 Competency Of The Parties to contract
The document discusses the requirements for competency to contract under Indian contract law. It outlines that parties must be of the age of majority, of sound mind, and not disqualified by law. Those deemed incompetent include minors under 18, persons of unsound mind like idiots and lunatics, and those disqualified such as aliens, convicts, and corporations. The Indian Contract Act of 1872 establishes these rules for determining the validity and enforceability of contracts in India.
Free consent/Law of Contract/Business Law
The document discusses the concept of free consent in contracts. It defines key terms like consent, coercion, undue influence, misrepresentation, and fraud.
Free consent is consent that is not caused by coercion, undue influence, fraud, misrepresentation, or mistake. Coercion involves threatening unlawful acts, while undue influence involves exploiting power dynamics in relationships.
Misrepresentation involves innocent factual errors, while fraud requires intentionally deceiving the other party. Examples are provided to illustrate these concepts. Threats of suicide can amount to coercion. The document compares coercion and undue influence and outlines the requirements for establishing misrepresentation and fraud.
Lecture 6.
The document discusses various aspects of free consent in contracts under Indian law. It defines consent, coercion, undue influence, fraud, and mistake. It provides examples and explanations for when consent is not considered free due to these factors. Consent obtained through coercion, undue influence, fraud, or mistake may make a contract voidable.
Free consent
The document discusses various aspects of free consent in contracts such as coercion, undue influence, misrepresentation, fraud, and mistake. It defines these terms and explains how and when consent is considered not free due to these factors. Consent obtained through coercion, undue influence, fraud or misrepresentation makes the contract voidable at the option of the aggrieved party who can also claim damages in some cases. Mistakes can also vitiate consent if bilateral but not if unilateral unless induced by misrepresentation.
Void Agreement
This document discusses void agreements under Indian contract law. It begins by defining an agreement and contract. It then explains that a void agreement is one that is not enforceable by law and does not create any legal obligations from the beginning. Several types of agreements are expressly declared void by the Indian Contract Act, including agreements in restraint of marriage, trade, or legal proceedings, agreements with uncertain meanings, wagering agreements, and agreements contingent on impossible events. Examples of cases related to various void agreements are also provided.
Free consent
The document discusses various types of flaws in consent that can make a contract voidable, including coercion, undue influence, misrepresentation, and mistake. It provides definitions and examples of each flaw. For coercion, it discusses threats to commit suicide being considered coercion and the effect of coercion making a contract voidable. For undue influence, it discusses relationships where influence may occur and a case example. It also compares coercion and undue influence. The document further explores the elements needed to establish fraud and misrepresentation, and the effects they have in making a contract voidable. It concludes with discussing bilateral and unilateral mistakes of fact and law.
Performance of contract
This document discusses various aspects of performance of contracts under Indian contract law. It defines actual performance as both parties fulfilling their obligations under the contract, while attempted performance or tender refers to the promisor offering to perform but the promisee refusing acceptance. It also discusses rules around tender, who can demand performance, devolution of joint rights, performance of reciprocal promises, and consequences of default or prevention of performance.
Contingent Contract and Quasi Contract
The document discusses contingent contracts and quasi contracts. It defines contingent contracts as agreements where performance depends on an uncertain future event. Quasi contracts are obligations imposed by law even if no actual agreement exists. The document outlines the types of each, including contracts of insurance and indemnity as contingent and claims for necessaries and recovery of mistaken payments as quasi. It provides examples and explains the rules for enforcing contingent contracts depending on if the contingency is an event happening or not happening, or conduct of a living person. Quasi contracts include obligations for necessaries supplied, money paid for another, benefits enjoyed from acts, responsibility of finders, and liability for mistaken payments.
Contract Act 1872 - Business Law
The Contract Act 1872 outlines essential elements for a valid contract in India. A contract requires an offer and acceptance, consideration, lawful purpose, capacity to contract, free consent between parties. An offer must be definite and communicated to the offeree. Acceptance must be unconditional, communicated to offeror, and within a reasonable time. If any essential element is missing, an agreement is void. The Act also defines different types of contracts based on validity, formation, and performance. It provides rules for offer, acceptance, and discharge of a valid contract.
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.
Contingent Contract
Contingent contracts are agreements that are dependent on the occurrence or non-occurrence of some future uncertain event, and performance under such contracts can only be enforced after the event in question has occurred or become impossible. The document outlines the essential elements and types of contingent contracts under Indian contract law, and explains the circumstances under which contingent contracts become void or enforceable.
Void agreement
The document defines and provides examples of void agreements under Indian law. A void agreement is not enforceable or valid under law. Some types of void agreements include those with unlawful objectives or consideration, lacking consideration with some exceptions, restraining marriage, trade, or legal proceedings with some exceptions, uncertain agreements, agreements by way of wager/betting with some exceptions, collateral agreements to wagering, agreements for impossible acts, and agreements contingent on impossible events with some exceptions. The consequences of a void agreement are that it is not enforceable in court.
Unlawful agreement
The document discusses unlawful agreements under Indian contract law. It states that for an agreement to be considered a contract, it must satisfy conditions like lawful consideration, competent parties, and lawful object. Agreements with consideration or objects that are forbidden by law, defeat the provisions of any law, are fraudulent or injurious, or against public policy are unlawful and void. Some examples of unlawful agreements provided include dividing gains acquired by fraud and obtaining illegal employment in return for payment. The document also discusses how agreements can be void if any part of the consideration or object is unlawful.
VOID AGREEMENT
An agreement that restricts a person's lawful profession or business is considered a restraint of trade and is void. Any agreement that restricts a party's right to enforce a contract through the usual legal proceedings is also void. An agreement between parties A and B to not go to court in the case of a breach of contract is void. Wagering agreements related to betting on future uncertain events are considered void and unenforceable by law.
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.
Contracts With The Minor
The document discusses the capacity of minors to contract under Indian law. It summarizes that minors, persons of unsound mind, and those disqualified by law are not competent to enter valid contracts. While a minor's agreements are voidable, the 1903 Privy Council case of Mohoribibi v Dharmodas Ghose established they are not absolutely void. Later cases further modified this stance, finding that agreements made by guardians on a minor's behalf or for their benefit can be binding. The document outlines exceptions where minors may be bound, such as beneficial contracts, as well as the inability of minors to ratify agreements made during their minority through subsequent confirmation.
Performance of contract
This document discusses the performance of contracts under Indian law. It defines performance as the fulfillment of obligations by the parties, which discharges the contract. There are two types of performance: actual performance and attempted performance (tender/offer of performance). It outlines the rules for tender of performance, performance by joint promisors, appropriation of payments, who can perform and demand performance, and time and place of performance.
Implied authority of partners
- Partners have implied authority to bind the firm for acts done in the usual course of business. However, this authority does not extend to certain acts like submitting disputes to arbitration or acquiring immovable property without express consent.
- The doctrine of holding out makes a person liable as a partner if they represent themselves as a partner or knowingly allow others to represent them as such, and a third party gives credit to the firm based on this representation.
- A minor can be admitted to the benefits of a partnership with the consent of all partners but is not personally liable for acts of the firm. They have rights to profits and inspection of accounts.
Consideration (3)
Consideration is something of value that is exchanged between parties to a contract. It is essential for a valid contract. Consideration can be in the form of an act, abstinence from an act, or a promise. It must be something that moves from the promisee at the desire of the promisor. Consideration does not need to be adequate, but it must be real, lawful, and not something the promisor is already obligated to do. Without consideration, there is no valid contract, though there are some exceptions such as natural love and affection or compensation for voluntary services.
Void agreement / contract ppt
This document discusses different types of agreements under contract law including void, unenforceable, and illegal agreements. It provides examples of situations that would make agreements void or illegal, such as lack of capacity, unlawful consideration, or agreements that restrain trade. The document also discusses the concepts of fraud, unilateral mistake, mutual mistake, and when a minor can disaffirm a voidable contract.
Caveat emptor ppt
The document summarizes the key principles of caveat emptor (let the buyer beware) under Indian sale of goods law. It notes that caveat emptor originally applied, but there are now several exceptions, including when goods are purchased by description, sample, for a particular purpose, or where the seller uses fraud or conceals defects. It provides examples to illustrate exceptions for purchase by description, sample, and merchantable quality.
Mohori bibee v Dharmodas Ghouse
A landmark case on the situation of minors in contracts other than necessity, scholarship or insurance. Minor are those below 18 years of age and normally are incompetent to enter into any contracts.
Indemnity and guarantee-11
Indemnity and guarantee are both types of contracts where one party promises to compensate another for loss or liability. [1] Indemnity involves two parties, where the indemnifier promises to reimburse the indemnified for losses caused by the indemnifier or third parties. [2] Guarantee involves three parties, where the guarantor promises the creditor payment or performance by the principal debtor. [3] The rights and obligations of each party differ between indemnity and guarantee.
Void agreement
This document discusses various types of agreements and contracts that are considered void under Indian law. It states that contracts that cannot be enforced in a court of law become void. Any trading or business activity with a person from a country India is at war with without a license is also void. Agreements to prevent legal prosecution, influence public officials, restrain marriage or legal proceedings, or induce corrupt behavior in judicial officers are also considered void as being against public policy. Wagering agreements that involve payment based on uncertain future events are additionally identified as void.
Void & Voidable Contracts
(1) A void contract is one that is not enforceable by law, such as agreements made by incompetent parties or those with an unlawful object or consideration. A voidable contract remains valid until rescinded by the aggrieved party, such as those caused by coercion or fraud.
(2) Breach of utmost good faith in an insurance contract makes it voidable at the option of the aggrieved party.
(3) An enforceable contract can be enforced in a court, while a void contract cannot due to defects that make it unenforceable, such as lack of required writing or registration.
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Free consent
The document discusses various aspects of free consent in contracts such as coercion, undue influence, misrepresentation, fraud, and mistake. It defines these terms and explains how and when consent is considered not free due to these factors. Consent obtained through coercion, undue influence, fraud or misrepresentation makes the contract voidable at the option of the aggrieved party who can also claim damages in some cases. Mistakes can also vitiate consent if bilateral but not if unilateral unless induced by misrepresentation.
Void Agreement
This document discusses void agreements under Indian contract law. It begins by defining an agreement and contract. It then explains that a void agreement is one that is not enforceable by law and does not create any legal obligations from the beginning. Several types of agreements are expressly declared void by the Indian Contract Act, including agreements in restraint of marriage, trade, or legal proceedings, agreements with uncertain meanings, wagering agreements, and agreements contingent on impossible events. Examples of cases related to various void agreements are also provided.
Free consent
The document discusses various types of flaws in consent that can make a contract voidable, including coercion, undue influence, misrepresentation, and mistake. It provides definitions and examples of each flaw. For coercion, it discusses threats to commit suicide being considered coercion and the effect of coercion making a contract voidable. For undue influence, it discusses relationships where influence may occur and a case example. It also compares coercion and undue influence. The document further explores the elements needed to establish fraud and misrepresentation, and the effects they have in making a contract voidable. It concludes with discussing bilateral and unilateral mistakes of fact and law.
Performance of contract
This document discusses various aspects of performance of contracts under Indian contract law. It defines actual performance as both parties fulfilling their obligations under the contract, while attempted performance or tender refers to the promisor offering to perform but the promisee refusing acceptance. It also discusses rules around tender, who can demand performance, devolution of joint rights, performance of reciprocal promises, and consequences of default or prevention of performance.
Contingent Contract and Quasi Contract
The document discusses contingent contracts and quasi contracts. It defines contingent contracts as agreements where performance depends on an uncertain future event. Quasi contracts are obligations imposed by law even if no actual agreement exists. The document outlines the types of each, including contracts of insurance and indemnity as contingent and claims for necessaries and recovery of mistaken payments as quasi. It provides examples and explains the rules for enforcing contingent contracts depending on if the contingency is an event happening or not happening, or conduct of a living person. Quasi contracts include obligations for necessaries supplied, money paid for another, benefits enjoyed from acts, responsibility of finders, and liability for mistaken payments.
Contract Act 1872 - Business Law
The Contract Act 1872 outlines essential elements for a valid contract in India. A contract requires an offer and acceptance, consideration, lawful purpose, capacity to contract, free consent between parties. An offer must be definite and communicated to the offeree. Acceptance must be unconditional, communicated to offeror, and within a reasonable time. If any essential element is missing, an agreement is void. The Act also defines different types of contracts based on validity, formation, and performance. It provides rules for offer, acceptance, and discharge of a valid contract.
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.
Contingent Contract
Contingent contracts are agreements that are dependent on the occurrence or non-occurrence of some future uncertain event, and performance under such contracts can only be enforced after the event in question has occurred or become impossible. The document outlines the essential elements and types of contingent contracts under Indian contract law, and explains the circumstances under which contingent contracts become void or enforceable.
Void agreement
The document defines and provides examples of void agreements under Indian law. A void agreement is not enforceable or valid under law. Some types of void agreements include those with unlawful objectives or consideration, lacking consideration with some exceptions, restraining marriage, trade, or legal proceedings with some exceptions, uncertain agreements, agreements by way of wager/betting with some exceptions, collateral agreements to wagering, agreements for impossible acts, and agreements contingent on impossible events with some exceptions. The consequences of a void agreement are that it is not enforceable in court.
Unlawful agreement
The document discusses unlawful agreements under Indian contract law. It states that for an agreement to be considered a contract, it must satisfy conditions like lawful consideration, competent parties, and lawful object. Agreements with consideration or objects that are forbidden by law, defeat the provisions of any law, are fraudulent or injurious, or against public policy are unlawful and void. Some examples of unlawful agreements provided include dividing gains acquired by fraud and obtaining illegal employment in return for payment. The document also discusses how agreements can be void if any part of the consideration or object is unlawful.
VOID AGREEMENT
An agreement that restricts a person's lawful profession or business is considered a restraint of trade and is void. Any agreement that restricts a party's right to enforce a contract through the usual legal proceedings is also void. An agreement between parties A and B to not go to court in the case of a breach of contract is void. Wagering agreements related to betting on future uncertain events are considered void and unenforceable by law.
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.
Contracts With The Minor
The document discusses the capacity of minors to contract under Indian law. It summarizes that minors, persons of unsound mind, and those disqualified by law are not competent to enter valid contracts. While a minor's agreements are voidable, the 1903 Privy Council case of Mohoribibi v Dharmodas Ghose established they are not absolutely void. Later cases further modified this stance, finding that agreements made by guardians on a minor's behalf or for their benefit can be binding. The document outlines exceptions where minors may be bound, such as beneficial contracts, as well as the inability of minors to ratify agreements made during their minority through subsequent confirmation.
Performance of contract
This document discusses the performance of contracts under Indian law. It defines performance as the fulfillment of obligations by the parties, which discharges the contract. There are two types of performance: actual performance and attempted performance (tender/offer of performance). It outlines the rules for tender of performance, performance by joint promisors, appropriation of payments, who can perform and demand performance, and time and place of performance.
Implied authority of partners
- Partners have implied authority to bind the firm for acts done in the usual course of business. However, this authority does not extend to certain acts like submitting disputes to arbitration or acquiring immovable property without express consent.
- The doctrine of holding out makes a person liable as a partner if they represent themselves as a partner or knowingly allow others to represent them as such, and a third party gives credit to the firm based on this representation.
- A minor can be admitted to the benefits of a partnership with the consent of all partners but is not personally liable for acts of the firm. They have rights to profits and inspection of accounts.
Consideration (3)
Consideration is something of value that is exchanged between parties to a contract. It is essential for a valid contract. Consideration can be in the form of an act, abstinence from an act, or a promise. It must be something that moves from the promisee at the desire of the promisor. Consideration does not need to be adequate, but it must be real, lawful, and not something the promisor is already obligated to do. Without consideration, there is no valid contract, though there are some exceptions such as natural love and affection or compensation for voluntary services.
Void agreement / contract ppt
This document discusses different types of agreements under contract law including void, unenforceable, and illegal agreements. It provides examples of situations that would make agreements void or illegal, such as lack of capacity, unlawful consideration, or agreements that restrain trade. The document also discusses the concepts of fraud, unilateral mistake, mutual mistake, and when a minor can disaffirm a voidable contract.
Caveat emptor ppt
The document summarizes the key principles of caveat emptor (let the buyer beware) under Indian sale of goods law. It notes that caveat emptor originally applied, but there are now several exceptions, including when goods are purchased by description, sample, for a particular purpose, or where the seller uses fraud or conceals defects. It provides examples to illustrate exceptions for purchase by description, sample, and merchantable quality.
Mohori bibee v Dharmodas Ghouse
A landmark case on the situation of minors in contracts other than necessity, scholarship or insurance. Minor are those below 18 years of age and normally are incompetent to enter into any contracts.
Indemnity and guarantee-11
Indemnity and guarantee are both types of contracts where one party promises to compensate another for loss or liability. [1] Indemnity involves two parties, where the indemnifier promises to reimburse the indemnified for losses caused by the indemnifier or third parties. [2] Guarantee involves three parties, where the guarantor promises the creditor payment or performance by the principal debtor. [3] The rights and obligations of each party differ between indemnity and guarantee.
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Void agreement
This document discusses various types of agreements and contracts that are considered void under Indian law. It states that contracts that cannot be enforced in a court of law become void. Any trading or business activity with a person from a country India is at war with without a license is also void. Agreements to prevent legal prosecution, influence public officials, restrain marriage or legal proceedings, or induce corrupt behavior in judicial officers are also considered void as being against public policy. Wagering agreements that involve payment based on uncertain future events are additionally identified as void.
Void & Voidable Contracts
(1) A void contract is one that is not enforceable by law, such as agreements made by incompetent parties or those with an unlawful object or consideration. A voidable contract remains valid until rescinded by the aggrieved party, such as those caused by coercion or fraud.
(2) Breach of utmost good faith in an insurance contract makes it voidable at the option of the aggrieved party.
(3) An enforceable contract can be enforced in a court, while a void contract cannot due to defects that make it unenforceable, such as lack of required writing or registration.
Void & voidable contract
1. A void agreement is void from the beginning and cannot be considered a valid contract, whereas a voidable agreement can be terminated and avoided by the aggrieved party but is otherwise a valid contract.
2. Examples of void agreements include those made by minors or with an unlawful object, while voidable agreements result from consent obtained through coercion, undue influence, or misrepresentation.
3. A voidable agreement can be enforced unless avoided by the aggrieved party, whereas a void agreement confers no rights and creates no obligations from the beginning.
Void agreement and void contract
The document discusses the difference between a void agreement and a void contract. A void agreement is completely unenforceable by law, so parties have no obligations to fulfill terms. However, a void contract is still considered a legal agreement between parties, even though it is invalid or unenforceable. The key difference is that a void contract exists, while a void agreement does not, and void contracts can still result in legal consequences depending on the context and any actions taken.
difference between void contracts and void agreement
This document summarizes the key differences between void agreements and void contracts under Indian contract law. It explains that void agreements are not enforceable by law from the very beginning due to missing essential elements, like consideration or involving a minor. Void contracts, on the other hand, become unenforceable later due to supervening events that make performance impossible, like an outbreak of war. The document provides a table that outlines the main differences between void agreements and void contracts in terms of enforceability, rights of third parties, effects of lapse of time, treatment under the Indian Contract Act, and ability to claim damages.
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Flow Chart on Enforcement of Foreign Arbitration Awards in China
The document outlines the process for recognizing and enforcing foreign arbitration awards in China. It involves an application being filed with the intermediate court where the respondent resides. The intermediate court will hold a hearing and decide whether to recognize and enforce the award. If it decides not to recognize the award, it reports to the high court. The high court can then agree to recognize the award or report to the supreme court. The supreme court makes the final decision about whether to recognize and enforce the foreign arbitration award.
Training in Legislative Drafting
Law making is a specialised branch for law professionals. Framing of simple and pragmatic laws capable of easy understanding and effective compliance would lead to good governance.
International Arbitration 2015
Nicola Dunleavy and Gearóid Carey examine arbitration as a method of alternative dispute resolution in Ireland. Topics covered include The Arbitration Act 2010, making, challenging and enforcing awards as well as current issues affecting the use of arbitration in Ireland.
F:\Haider\Valid Contract
The document discusses key aspects of contract law in India such as the definition of a contract, essential elements, and validity requirements. It provides definitions of a contract from various sources and explains that a valid contract requires [1] agreement between competent parties, [2] lawful consideration, and [3] intention to create legal relations. The document also discusses concepts such as offer and acceptance, free consent, mistake, and effects of coercion, undue influence, and fraud on the validity of agreements.
discharge of contract
This document discusses various modes of discharging a contract, including performance, agreement, impossibility, lapse of time, operation of law, and breach. It notes that a contract can be discharged through actual or tendered performance, novation, alteration, rescission, remission, or waiver. A contract may also be discharged if the purpose fails or becomes impossible or unlawful to perform due to destruction of the subject matter, failure of purpose, death or incapacity of a person, or change in law. Breach of contract, either actual or anticipatory, also discharges a contract.
Dec Seminar Session 3 Contracts
The document discusses various legal agreements and provisions that are important for businesses to address, including operating agreements, buy-sell agreements, confidentiality agreements, commercial leases, purchasing real estate, and protecting trade secrets. It emphasizes getting contracts in writing and properly executing them to protect business owners and assets. Specific types of agreements covered include LLC operating agreements, buy-sell agreements, work for hire contracts, and compliance with home solicitation sales acts.
การควบคุมอุตสาหกรรมปิโตรเลียม (๑)
The document discusses various aspects of controlling the petroleum industry, including the value chain of petroleum production and transportation, different types of petroleum geology and reserves classifications. It also examines different contractual frameworks that govern relationships between governments and petroleum companies, such as concessions, product-sharing contracts, and service contracts. Overall, it describes how the petroleum industry is controlled through a hybrid system of contracts, laws, and administrative regulations that aim to balance risks and rewards between private industry and public authorities.
Law remedies for breach of contract
The aggrieved party in a breach of contract case has four remedies: 1) suit for specific performance, which asks the court to compel the breaching party to fulfill their contractual obligations; 2) suit for injunction, which seeks to prevent future breaches; 3) suit for damages to compensate for losses caused by the breach; and 4) quantum meruit, which implies a promise to pay the reasonable value of services rendered without an agreed upon price. Specific performance and injunctions are equitable remedies, while damages are legal remedies aimed at making the non-breaching party whole through monetary compensation.
Getting Down To The Details: Contract Basics for Non-Lawyers
This webinar will address the following topics: (i) the general structure of contracts, including how that changes among several common types of contracts; (ii) when contracts are needed and when they are not, and the advantages and disadvantages of having a contract; (iii) things you should look for in a contract, again, including how that changes among several types of common contracts; (iv) things that should set off alarm bells for you any time you see them in a contract you are considering entering into; and, (v) things that may invalidate a contract.
Contact the author at: cstein@dbslawfirm.com
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Flow Chart on Enforcement of Foreign Arbitration Awards in China
Flow Chart on Enforcement of Foreign Arbitration Awards in China
Getting Down To The Details: Contract Basics for Non-Lawyers
Getting Down To The Details: Contract Basics for Non-Lawyers
Void Agreement
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