The Indian Contract, 1872, Slides of Contract Law

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INDIAN

INDIAN

CONTRA

CONTRA

CT ACT,

CT ACT,

INDIAN

INDIAN

CONTRA

CONTRA

CT ACT,

CT ACT,

CONTRA CONTRA CT CT

OFFER - According to Sec.2(a), when a

person made a proposal, when he signifies to another his willingness to do or to abstain from doing something. AGREEMENT = OFFER + ACCEPTANCE

CONSENSUS - AD – IDEM-

According to Sec.13, meeting of minds or identity of minds or receiving the same thing in same sense at same time.

Agreement Legal Obligation Contract

“All agreements are

contracts but all

contracts are not

agreements.”

CONTRACT = AGREEMENT +

ENFORCIBILITY BEFORE LAW

TYPES OF CONTRACTS TYPES OF CONTRACTS VALID CONTRACTS  Absolute contract  Contingent contract(Sec. 31-36)  Express contract  Implied/Quasi contract(Sec.68- 72)

Valid contract - If all the condition are fulfilled it is called as a valid contract. Contingent contract - In a contract to do or not to do something, if an event is collateral, does or doesn't happen. Express contract - When contracts are either in writing or in oral. Implied contract - When contracts are neither in writing nor in oral. Absolute contract - A contract which is not dependent on fulfillment of any condition.

Invalid contract - In a contact if

any one condition is not fulfilled.

Is void (Void-ab-initio) - An

agreement which is not valid from

the beginning.

Becomes void - An agreement

which is valid in the beginning but

due to some supervening

impossibility the contract becomes

void.

Illegal contract - An agreement

forbidden by law.

Unenforceable contract - It is

valid but due to some technical

defect the contract becomes void. In

case defects are removed the

contract is enforceable.(lack of

registration, lack of signature etc.,)

Voidable contract - A contract

which is valid unless until avoided

by either the party.

Executed contract - In a contract where both the parties have performed their obligation, there is remaining nothing to perform. Executory contract - In a contract where both the parties are yet to perform their obligation. Unilateral contract - In a contract one party has performed his obligation and other person is yet to perform his obligation. Bilateral contract - In a contract where both the parties have performed their

OFF

OFF

ER

ER

TYPES OF OFFER

 Express offer

 Implied offer

 Specific offer

 General offer

 Cross offer

 Counter offer

 Standing offer

Express offer - When offer is given to another person either in writing or in oral. Implied offer - When offer is given to another person neither in writing nor in oral. Specific offer - When offer is given to a specific person. General offer - When offer is given to entire world at a large.(Carlill Vs. Carbolic smoke ball Co.,)

LEGAL RULES FOR OFFER  Offer must be given with an intention to create a legal relationship.(Balfour Vs. Balfour, 1919)  Offer must be definite.(Taylor Vs. Portington : Terms of the contract were vague , Took house 285 per annum)  There is a clear cut difference between offer, invitation to offer, invitation to sale. (Harris Vs. Nickerson)

 Offer must be communicated. (Fitch Vs. Snedkar)  Mere statement of price of price is not an offer.(Harvey Vs. Facey)