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CONTRACT ACT PDF

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Agreements in restraint of legal proceedings void Saving of contract to refer to arbitration Contract to do act afterwards becoming impossible or unlawful. B-LAW NOTES UNIT CONTRACT ACT 1Q. Define contract? Discuss the essential elements of a valid contract? (Or) Law of contract is not the whole of law of. Article 4 The parties shall, pursuant to law, have the right to enter into a contract on their A legally executed contract is protected by law.


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PDF | 3 hours read | On Jan 1, , Mindy Chen-Wishart and others published Contract Law. PART III. VOIDABLE CONTRACTS AND VOID AGREEMENTS. What agreements are contracts. Persons competent to contract. What is a sound mind. This Act may be called the Indian Contract Act,.. section Ill of the Indian Evidenc. The Indian Contract Act, enforceable by law becomes void when it.

Therefore counter offer amounts to rejection of the original offer. Hyde vs Wrench Facts: Because the counter offer to a proposal amounts to its rejection. An offer comes to an end if the law is changed so as to make the contract contemplated by the offer illegal or incapable of performance. If the offeror keeps quite, he is deemed to have accepted the offer.

Are there any exceptions to this rule? OR Define acceptance? Explain the rules regarding a valid acceptance? Legal rules as to acceptance: A valid acceptance must satisfies the following rules: The proposer may within a reasonable time give notice to the offeree that the acceptance is not according to the mode prescribed.

Boulton vs Jones Boulton bought a hose-pipe business from Brocklehurst. Jones, to whom Brocklehurst owed a debt, placed an order with Brocklehurst for the supply of certain goods.

Boulton supplied the goods even though the order was not addressed to him. Jones refused to pay Boulton for the goods because he, by entering into a contract with Brocklehurst, intended to set off his debt against Brocklehurst. The offer was made to the Brocklehurst and it was not in the power of Boulton to step in and accept.

Therefore there was no contract. A company advertised in several newspapers is that a reward of L ponds would be given to any person contracted influenza after using the smoke ball according to the printed directions. Write a short notes on consensus-ad-idem. The essence of an agreement is the meeting of the minds of the parties in full and final agreement; there must, be consensus-ad-idem.

This means that the parties to the agreement must have agreed about the subject-matter of the agreement in the same sense and at the same time. Unless there is consensus-ad-idem, there can be no contract. There is no consensus-ad-idem, there can be no contract. Cross offer. In such a case, the courts construe one offer as the offer and the other as the acceptance. Thus a cross offer will not create any contract. The two letters cross each other in the post.

In such a case the courts construe one offer as the offer and the other as the acceptance. The following are the differences between void and voidable contract. They are follows: Nature A void contract is valid when it is A voidable contract on the other hand is made. But binding on the parties it may voidable at the option of the aggrieved subsequently become void. We may party and remains valid until rescinded by talk of such a contract as void him.

Contract caused by coercion, undue agreements. But in case contract is caused by mistake it is void.

Rights A void contract does not provide any The aggrieved party in a voidable contract legal remedy for the parties to the gets a right to rescind the contract. When contract. It may void of into right from such party rescinds it, the contract become the beginning. In other words it is not a void. In case aggrieved party does not contract at all rescind the contract with in a reasonable time, the contract remains valid. Counter offer. Counter offer amounts to rejection of the original offer.

In such a case an offer may be revoked. Hyde vs Wrench http: Communication of offer: An offer, its acceptance and their revocation withdrawal to be complete when it must be communicated. When the contracting parties are face to face and negotiate in person, a contract comes into existence the movement the offeree gives his absolute and unqualified acceptance to the proposal made by the offeror.

The following are the rules regarding communication of offer: Communication of acceptance. The following are the rules regarding communication of acceptance: Communication of revocation. The following are the rules regarding communication of revocation: Invitation to make an offer. Or Offer and invitation to offer. Then the response to a tender notice is an offer and can be in two ways: When a tender is submitted, in response to an invitation for supply of goods and services in specified quantities, in a specific and definite manner, it is a definite offer.

As soon an order is made a contract is created. Revocation of offer and acceptance. Revocation of offer: Revocation of acceptance: An acceptance may be revoked at any time before the communication of acceptance is complete as against the acceptor, but not afterwards.

The letter is posted on 1st of the month. Communication of offer, acceptance and revocation. Or When is communication complete? Rules regarding the communication of offer, acceptance and revocation are laid down in section 4, as follows. The letter is posted on 10 th July. Communication of revocation: The letter is posted on 15 th may. Define consideration? What are the rules as to consideration? When a party to an agreement promises to do something, he must get something in return.

Abdul Aziz vs Masum Ali Facts: The secretary of a mosque committee filed a suit to enforce a promise which the promisor had made to subscribe Rs. Hence the suit was dismissed. Essentials of a valid consideration: It may be past, present or future: Thus, the consideration may be past, present or future.

It must move at the desire of the promisor: Durga Prasad vs Baldeo ; Facts: The agreement was void being without consideration. It must not be illegal, immoral or not opposed to public policy: It need not be adequate: But it must be something which the law would regard as having some value. It must be real and not illusory: It must move from the promise or any other person: But, under Indian law, consideration move from the promisee or any other person i.

But the stranger to a consideration will be sue only if he is a party to the contact. Chinnaya vs Ramayya It must be something the promisor is not already bound to do: A promise to do what one is already bound to do, either by general law or under an existing contract, is not a good consideration for a new promise, since it adds nothing to the pre-existing legal or contractual obligation. It may be an act, abstinence or forbearance or a return promise: Thus it may be noted that the following are good considerations for a contract.

Abdul Aziz vs Masum Ali http: Validity of an agreement without consideration: The general rule is that an agreement made without consideration is void.

In the following cases, the agreement though made without consideration, will be valid and enforceable according to section 25 and are as follows: Nature love and affection: Venkatswamy vs Rangaswamy Therefore it is a valid agreement. Compensation for past voluntary services: A promise made without consideration is valid if, it is a person who has already done voluntarily done something for the promisor, is enforceable, even though without consideration.

In simple words, a promise to pay for a past voluntary service is binding. Promise to pay Time-Bared debt: An agreement to pay a time-bared debt is enforceable if the following conditions are satisfied. Completed gifts: According to section , no consideration is necessary to create an agency.

Charitable subscription: Where the promisee on the strength of promise makes commitments i. Kedernath vs Ghouri Mohammed The amount could be recovered, as the promise resulted in a sufficient detriment to the secretary. However, be enforceable only to the extent of the liability incurred by the secretary.

In this case, the promise, even though it was gratuitous, became, enforceable because on the faith of promise the secretary had incurred a detriment. Obviously an agreement is a pre requisite i.

An agreement clubbed with enforceability by law and several other features i. Therefore, obviously all contracts will be agreements. Thus, a lawful offer and a lawful acceptance create an agreement only. Therefore all agreements are not contracts.

Thus, all agreements are contracts but all agreements are not necessarily contracts. There is a general rule of law is that only the parties to a contract can sue.

In other words, if a person not a party to a contract, he cannot sue. Privity of contract means relationship subsisting between the parties who have entered into contractual obligations. There are two consequences of doctrine of privity of contract they are follows: Or A stranger to a contract cannot sue.

Or A stranger to a contract can sue. Dunlop Pneumatic Tyre Co. Ltd The Dunlop Company could not maintain the suit as it was a stranger to the contract. The following are the exceptions to the rule that a stranger to a contract cannot sue: A trust: However, the name of the beneficiary must be clearly mentioned in the contract. Gandy vs Gandy A husband who was separated from his wife executed a separation deed by which he promised to pay to the trustees all expenses for the maintenance of his wife.

This sort of agreement creates a trust in favour of the wife and can be enforced. Marriage settlements, partition or other family arrangements: When an agreement is made in connection of marriage settlements, partitions or other family arrangements and a provision is made for the benefit of a person, he may sue although he is not a party to the agreement.

Daropti vs Jaspat Rai Subsequently, she was again ill-treated and also driven out. Acknowledgement or Estoppel: The person, who becomes an agent of a third party by acknowledgement or Estoppel, can be sued by such third party. Assignment of contract: Assignment means voluntary transfer of the rights by a person to another. In such a case an assignee becomes entitled to sue and enforce the rights which are assigned to him.

Contracts entered into through an agent: The principal enforce the contract entered into by his agent provided the agent act within the scope of his authority and in the name of the principal. Covenants running with the land: In case of transfer of immovable property, the purchaser of land or the owner of the land is bound by certain conditions or covenants created by an agreement affecting the land.

Explain its kinds of contracts? A valid contract: A valid contract is an agreement which is binding and enforceable. An agreement becomes a contract when all the essential elements i. A voidable contract: An agreement which is enforceable by law at the option of one or more parties thereto, but not at the option of the other or others, is a voidable contract.

This happens when the essentials elements of a free consent is missing. When the consent of a party to a contract is said to be not free, if it is caused by Coercion, Undue influence, Misrepresentation or fraud, etc..

A void contract: A void contract is really not a contract at all. Illegal contracts: Some agreements are illegal in themselves ex: An unenforceable contract: An unenforceable contract is one which cannot be enforced in a court of law because of some technical defect such as absence of writing or where the remedy has been barred by lapses of time. Express contract: An express contract is one, the terms of which are stated in words, spoken or written at the time of the formation of the contract.

Implied contract: An implied contract is one in which the evidence of the agreement is shown by acts and conduct of the parties, but not by words, written or spoken. In other words where the offer or acceptance of any promise made otherwise then in words, the promise is said to be implied promise or implied contract.

In truth Quasi-contract is not a contract at all. A quasi-contract is acts which are created by law. It does not have any essential elements of a valid contract.

It is not intentionally created by parties but it is imposed by law. Executed contract: An executed contract is one in which both the parties have performed their respective obligation. Executory contract: An executory contract is one in which the parties have yet to perform their obligations. Unilateral or one-sided contract: Bilateral contract or Two-sided contract: It is a contract in which the obligations on the part of both the parties to the contract are outstanding at the time of the formation of the contract.

Explain the legal rules regarding agreement by a minor? The law becomes the guardian of minors to protect their rights because their mental capacity is not well developed.

An agreement by minor is absolutely void: Where a minor is charged with obligations and the other contracting party seeks to enforce these obligations against minor, in such a case the agreement is deemed as void-ab-initio.

Mohiri Bibi vs Dharmodas Ghose A minor mortgaged his house in favour of money-lender to secure a loan of Rs. Subsequently, the minor sued for setting a side the mortgage, stating that he was underage when he executed the mortgage.

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The mortgage was void and, therefore, it was cancelled. He can be a promisee or a Beneficiary: Any agreement which is some benefit to the minor and under which he is required to bear no obligation is valid.

Thus, a minor can be a beneficiary or a promisee. His agreement cannot be ratified by him an attaining the age of majority: An agreement by minor is void-ab-initio and therefore ratification by minor is not allowed. There is a fundamental principal in law i.

indian contract act, 1872

If he has received any benefit under a void agreement, he cannot asked to compensate or pay for it: Under section 64 and 65 of the act, provides a minor cannot be ordered to make compensation for a benefit obtained in a void agreement. Because section 64 and 65, which deals with restitution of benefit. Minor can always plead minority: Leslie vs Shiell There can be no specific performance of the agreement entered into by him as they are void- ab-initio: He cannot enter into a contract of partnership: He can be an agent: A minor can be an agent.

It is so because the act of the agent is the act of the principal and therefore, the principal is liable to the third parties for the act of a minor agent. The parents can held liable for contracts for their minor children only when they are acting as agent. A minor is liable in tort A civil wrong: Minors are liable for negligence causing injury or damage to the property that does not belongs to them.

A minor is liable for necessaries: Minor does not personally liable for the supply of necessaries. The necessaries such as food, clothing, and shelter etc.. Person of unsound mind Ans: Soundness of mind of a person depends on two facts: Ability to understand the contract at the time of making. Ability to form a rational judgment about the effect of the contract on his interest. Unsoundness may arise from idiocy, lunacy, drunkenness, hypnotism, mental decay because of old age and delirium high temperature etc..

A person who is usually of sound mind and occasionally of unsound mind cannot contract when he is of unsound mind. Thus, the burden of proof will be lie upon the person who claims that he was not of sound mind at the time of making a contract. Thus, minor estate is liable for necessaries supplied to minor during minority. The things supplied must be suited to his condition in life i.

Indian Contract Act, 1872

The things supplied must be necessaries of life i. Necessary goods are not restricted to articles which are required to maintain a bare existence, such as bread and clothes, but it also include goods which are reasonably necessary to the minor having regard to his station in life.

Nash vs Imran Certain services rendered to a minor have been held to be necessaries. These include education, training for a trade, medical advice, hose given to a minor on rent for the purpose of living and continuing his studies etc.. Roberts vs Gray Loans incurred to obtain necessaries: A loan taken by a minor to obtain necessaries also binds him and is recoverable by the lender as if he himself had supplied the necessaries.

But the minor is not personally liable. It is only his estate which is liable for loans. Contract by disqualified person. Or Person expressly disqualified other person. Besides minors and persons of unsound mind, there are also other persons who are disqualified from contracting partially or wholly.

So, the contracts by such persons are void. The following persons are disqualified from contracting; a Alien enemy. Under what circumstances is the object or consideration of a contract deemed unlawful? Illustrate with examples? An agreement will not be enforceable if its objects or the consideration are unlawful. According to section, of the Indian contract Act, The consideration and objects are unlawful in the following cases: If it is forbidden by law: If the object or the consideration of an agreement is forbidden by law, in such a case the agreement is deemed to be unlawful and void.

An act is forbidden by law if, http: The agreement is void, as the consideration for it is unlawful. If it is defeats the provision of any law: If the object or consideration of an agreement is of such a nature that, though not directly forbidden by law, it would defeat the provisions of the law, in such a case the agreement is deemed to be unlawful and void. An agreement between husband and wife to live separately is invalid as being opposed to Hindu law.

If it is fraudulent: An agreement, whose object or consideration is to defraud others, is unlawful and hence it becomes void. The agreement is void, as its object is unlawful. If it involves or implies injury to the person or property of another: If the object or consideration of an agreement is to injure the person or property of another is void.

In such a case object or the consideration is deemed to be unlawful. Ram Saroop vs Bansi Mandar If the court regards it as immoral: An agreement, whose consideration and object is immoral, is deemed to be illegal and void.

The word immoral includes sexual immorality. Hence its object or consideration is unlawful. Pearce vs Brooks A firm of coach-builders hired out a carriage to a prostitute, knowing that it was to be used by prostitute to attract men. The coach-builders could not recover the hire as the agreement was unlawful.

Where the court regards it as opposed to public policy: An agreement whose consideration or object is such a nature that opposed to public policy. Thus it becomes void and it deemed to be unlawful. Discuss the doctrine of public policy? Give examples of agreement which are opposed to public policy?

An agreement is said to be opposed to public policy when it is harmful to the public welfare.

Contracts Act, 2010, 2010

An agreement whose object or consideration is opposed to public policy is void. Some of those agreements which are or which have been held to be, opposed to public policy and are unlawful as follows: Agreements of trading with enemy: An agreement made with an alien enemy at the time of war is illegal on the ground of public policy.

This agreement is based upon the two reasons: He can do so only after he receives a license from the central government. Agreement to commit a crime: An agreement is to commit a crime is opposed to public policy and it is void.

In such a case the court will not enforce the agreements. Where the firm was compelled to pay damages for a published libel. Agreements in restraint of legal proceedings: An agreement in restraint of legal proceeding is the one by which any party thereto is restricted absolutely from enforcing his right under a contract through a court.

Contracts of this nature are void because its object is to defeat the provision of the Indian Limitation act. Agreements which interfere with administration of justice: Where the consideration or object of an agreement of which is to interfere with the administration of justice is unlawful, being opposed to public policy.

It may take any of the following forms: Trafficking in public offices and tittles: Trafficking in public offices means trading in public offices to obtain some gain which other wise cannot be obtained. Trafficking in tittle means some such award from government in return of consideration. A contact of this nature is void and is against to public policy and also it is illegal.

Parkinson vs College of Ambulance, Ltd The agreement was against to public policy and also illegal. Agreement tending to creates interest opposed to duty: If a person enters into an agreement whereby he is bound to do something which is against to public or professional duty, in such a case the agreement is void on the ground of the public policy. Agreements in restraint of parental rights: This right and duty of guardianship cannot be bartered away.

Agreement in restraint of marriage: Every agreement in restraint of marriage of any person, other than a minor, is void and opposed to public policy. This is because the law regards marriage and marriage status as the right of every individual.

Agreement restricting personal liberty: Agreement which unduly restricts the personal freedom of the parties is void and against to public policy. Agreement in restraint of trade: Every agreement by which any one is restrained from exercising a lawful profession or trade or business of nay kind, is to that extent void and opposed to public policy.

But this rule is subject to the following exceptions: In the above exceptions the court will enforce the agreements. Because only if there is any restrictions imposed on such agreements are reasonable. Shaikh Kalu vs Ram Saran Bhagat The agreement amounted to restraint of trade and thus void.

Marriage brokerage: As a public policy, marriage should take place with free choice of the parties and it cannot be interfered with by third party acting as broker. Agreement for brokerage for arranging marriage is void. Similarly agreement of dowry cannot be enforced. Agreement to defraud creditors or revenue authorities: An agreement which object is to defraud the creditors or revenue authorities is not enforceable, being opposed to public policy.

Agreement interfering with marital duties: Any agreement which interferes with the performance of marital duties is void, being opposed to public policy. Write a short note on unlawful and illegal agreements Ans: An unlawful agreement is one which, like a void agreement and is not enforceable by law. It is destitute lacking of legal effects altogether. If affects only the immediate parties and has no further consequences.

An illegal agreement, on the other hand, is not only void as between the immediate parties but has this further effect that the collateral transactions to it also become tainted infect with illegality. It is sometimes difficult to decide as to weather an act is illegal or unlawful because, as many of the illegal and the unlawful acts lie on the borderline.

It may, however, be observed that http: These acts do not effect public morals nor do they results in the commission of crime. Meaning of unlawful and illegal agreements: Effects of illegality: The general rule of law is that no action is allowed on an illegal and unlawful agreement. This is based on the following two maxims: No action arises from a base cause.

The effect of this is that the law discourages people from entering into illegal agreements which arise from base. Ex-turpi causa non oritur action. In cases of equal guilt, the defendant is in a better position. In pari delicto, potior est condition defendentis. If an agreement is illegal, the law will help neither party to the agreement. This means that, as a result of refusal of the court, to help plaintiff in recovering the amount, i. The court is, in fact, neutral opposite in such cases.

The court allows the defendant to have that advantage, not because it approves of his conduct, but because it is not http: As a result of the neutrality the defendant stands to gain. The effects of illegality may now be summed up as under: The collateral transactions to an illegal agreement become tainted infect with illegality and treated as illegal even though they would have lawful by themselves. No action can be taken a For the recovery of money paid. Or property transferred under illegal agreement, and b For the breach of an illegal agreement.

In cases of equal guilt on an illegal agreement, the position of defendant is better than that of the plaintiff i. Thus, every agreement by which any one is restrained from exercising a lawful profession or trade or business of any kind, is to that extent void and opposed to public policy.

The general principle of law is that all restraints of trade are void. But in India it is valid if it is falls with in any of the statutory exceptions. A seller of the goodwill of a business may agree with the buyer to refrain from carrying on a similar business, with in the specified local limits, so long as the buyer carries on a like business, provided that such limits are reasonable.

In such a case an Agreement in restraint of trade is valid. A partner shall not carry on any business other than that of the firm while he is a partner. An outgoing partner may agree with his partners not to carry on a business similar to that of the firm with in a specified period or with in the specified local limits. Any Partners may, upon the sale of goodwill of the firm, make an agreement with the buyer that such partners will not carry on any business similar to that of the firm with in a specified period or with in specified local limits.

An agreement in the nature of a business combination between traders or manufactures does not amount to a restraint of trade and is perfectly valid. But if an agreements attempts to create a monopoly it would be void.

Such agreement does not amount to a restraint of trade nor opposed to public policy and is perfectly valid. An agreement of service by which an employee binds himself, during the term of his agreement, not to compete with his employer is valid and does not amount to restraint of trade.

Thus, in the above exceptions the court will enforce the agreements. Agreement in restraint of trade. Sale of goodwill. Trade combinations. Service agreements. Write a short note on reciprocal promises. According to section 2 f of the Indian contract Act, These promises have been classified by Lord Mansfield based on the jones vs Barkley case they are as follows: Mutual and independent: Where each party must perform his promise independently and irrespective of the fact whether the other party has performed, or not, the promises are mutual and independent.

The promises are mutual and independent. Conditional and dependent: Where the performance of the promise by one party depends on the prior performance of the promise by the other party, the promises are conditional and independent.

The promises are conditional and independent. Mutual and concurrent: Where the promises of the both the parties are to be performed simultaneously, they are said to be mutual and concurrent.

Immoral agreements. An agreement is unlawful for immorality in the following cases: Where the consideration is an act of sexual immorality. Where the object of the agreement is the furtherance of sexual immorality. Wagering agreement. It is a wagering agreement.

The event must be uncertain. There must be two parties. Each party must stand to win or lose. No control over the event. No other interest in the event except winning or losing. The following transactions are not considered as wagering agreements. According to section 2 g of the Indian contract Act, A void agreement does not create any legal right or obligation.

It is void-ab-initio i.

The following agreements have been expressly declared to void by the contract act: Agreements by incompetent parties. Section 11 2. Agreements made under mutual mistake of facts. Section 20 3.

Agreements which the consideration or object is unlawful. Section 23 4. Agreements which the consideration or object is unlawful in part. Section 24 5. Agreements made without consideration. Section 25 6. Agreements in restraint of marriage. Section 26 http: Agreements in restraint of trade. Agreements in restraint of legal proceedings. Agreement which the meaning is uncertain. Agreements by way of wager. Agreements contingent on impossible events. Agreements to do impossible Acts. In case of reciprocal promises to do things legal and also other things illegal.

The second set illegal of reciprocal promises is a void agreement. Write a short note on restitution. The principle of restitution is that a person who has been unjustly enriched at the expense of another is required to make restitution to that other.

In essence, restitution is not based on loss to the plaintiff but it is on benefit which is enjoyed by the defendant at the cost of the plaintiff which is unjust for the defendant to retain. Write a short note on void agreement and void contract. Void agreement: We may talk of such a contract as void agreement. Define wagering agreement and explain the essentials of a wagering agreement in detail? Essentials of a wagering agreement: The following are the essentials of a wagering agreement, they are follows: Uncertain event: The promise made between the partied must be conditional and uncertain event i.

Generally a wager relates to a future event, but it may also relate to a past event provided the parties are not aware of its result or the time of its happening. Each party must stand to win or lose: Each party should stand to win or lose upon the determination of the uncertain event. An agreement is not a wager if either of the parties may win but cannot lose or may lose but cannot win.

No control over the event: The wagering agreement is a game of chance. Therefore, no party should have control over the happening or non happening of an event. If on the other hand one of the parties has control over the event, then the transaction lacks an essential ingredient of a wager. No other interest in the event: The parties should have no other interest in the subject matter of the agreement except winning or losing of the amount of the wager.

They bet with each other over the result of the bout. This is a wagering agreement. A crossword competition involving a good measure of skill for its successful solution. But if prizes of a crossword competition depend upon the correspondence of the competitors solution with a previously prepared solution kept with the editor of a newspaper, there it is treated as lottery and wagering transaction.

According to prize competition act, , prize competition is game of skill are not wagers provided the amount of prize not exceed rs. Contract of insurance is not wagering agreements even though the payment of money by the insurer may depend up on a future uncertain event. An agreement to contribute a prize of the value of above Rs.

Explain the meaning of contingent contract? What are the rules related to contingent contract? According to sec 31 of ICA, , a contingent contract is a contract to do or not to do something, if the event, collateral to such contract, does or does not happen. Thus it is a contract, the performance of which is dependent upon the happening or non happening of an uncertain future event, collateral to such events.

Its performance depends upon the happening or non happening in the future of some event. The event must be uncertain 3. The following are the rules regarding performance of a contingent contract: Contingent contract upon the happening of a future uncertain event: The contract becomes void. Contingent contract upon the non happening of a future uncertain event: When the happening of such event becomes impossible it becomes enforced and when such event has possible it becomes void.

Contingent contract upon happening of an event within a specified time: When such event has happened within the specified time it can be enforced and if the happening of such event becomes impossible within the specified time it becomes void. Contingent contract upon non happening of an event within a specified time: When the happening of such event becomes impossible within the specified time it can be enforced and if the happening of such event has happened within the specified time it becomes void.

The contract may be enforced if the ship returns within a year, and becomes void if the ship is burnt within the year. Contingent contract upon impossible events: Such an agreement cannot be enforced since it is void. Whether the impossibility of the event was known to the parties or not is immaterial. The agreement is void.

Contingent contract upon future conduct of a living person: When such person acts in the manner as desired in the contract it can be enforced and if such person does not acts in the manner as desired in the contract it becomes void.

Differences between wagering agreement and contingent contract. The following are the differences between wagering agreement and contingent agreement: Wagering is an agreement where a person Contingent contract is one in which promisor agrees to pay money to the other person undertakes to perform the contract upon upon the happening or non happening of an happening or non happening of an uncertain uncertain event.

Generally it is a reciprocal promise. There may be unilateral promises. In a wager the parties are not interested in The parties have real interest in the happening or the subject matter of the agreement except non happening of an uncertain future event.

In a wager the future event is the sole In a contingent contract the future events is only determining factor. It is a game of chance. It is not a game of chance. When promisor has made a valid offer of performance to the promise and offer had not been accepted by the promise, the promisor is not responsible for non performance and he does not lose any rights under the contract.

A valid tender of performance is equivalent to performance. It must be unconditional. It becomes conditional when it is not in accordance with the terms of the contract.

This is not a valid tender. It must be the whole quality contracted for or of the whole obligation. A tender of an installment when the contract stipulated payment in full is not a valid tender.

It must be by a person who is in a position, and is willing to perform the promise. It must be made at the proper time and place. A tender of goods after the business hours or of goods or money before the de date is not a valid-tender. He offers to pay on the 1st of July the amount with interest up to the 1st of July. It is not a valid tender as it not made at the appointed time. It must be made to the proper person and also in proper form.

It may be made to one of the several joint promises. In such a case it has the same effect as a tender to all of them. In case of tender of goods, it must give a reasonable opportunity to the promise for inspection of the goods. A tender of goods at such time when the other party cannot inspect the goods is not a valid tender. But in the following case, tender was held to be valid. Startup vs. MacDonald Delivery as tendered at 8.

The defendant refused to accept the goods owing to lateness of the hour. Though the hour was unreasonable, the defendant could still take delivery before midnight. In case of tender of money, the debtor must make a valid tender in legal tender money. In India in rupees, us-dollars etc.. By whom must contracts be performed? The promise under a contract may be performed by; a. Promisor himself: If there is something in the contract to show that it was the intention of the parties that the promise should be performed by the promisor himself, such promise must be performed by promisor himself.

This means contracts which involve the exercise of personal skill or diligence or which are founded on personal confidence between the parties must be performed by promisor himself. A contract to paint a picture or to sing or to marry. Where personal consideration is not the foundation of the contract, the promisor or his representative may employ a competent person to perform it.

Legal Representatives: A contract which involves the use of personal skill or is founded on personal considerations comes to an end on death of the promisor. As regards any other contract, the legal representatives of the deceased promisor are bound to perform it unless a contrary intention appears from the contract. But their liability under a contract is limited to the value of property they inherit from the deceased.

Third person: When a promisee accepts the performance of the promise from third person, he cannot afterwards enforce it against the promisor. Joint promisors: When two or more persons have made a joint promise, then unless a contrary intention appears from the contract, all such persons must jointly fulfill the promise, if any of them dies, his legal representatives must jointly with the surviving promisor have to fulfill the promise.

If all of them die, the legal representatives of all of them must fulfill the promise jointly. Section - 17 - Contracts Of The Republic. Section - 18 - Repeals. Section - 19 - Statutes Ceasing To Apply. Laws Cases Directory. Home Sections Expand All Print. CONTRACTS ACT - ACT 25 Section - 1 - Adjustments Of Rights And Liabilities 1 Where a contract to which sections 1 to 4 apply has become impossible of performance or been otherwise frustrated and the parties to that contract have for that reason been discharged from the further performance of the contract, this section shall, subject to sections 2 and 3, have effect in relation to that contract.

Section - 4 - Application Of Sections 1 To 3 1 Sections 1 to 3 apply to contracts made before or after the commencement of this Act, in respect of which the time of discharge is after the commencement of this Act.

Section - 8 - Contracts Which Are Valid Despite Lack Of Consideration 1 A promise to keep an offer open for acceptance for a specified time is not invalid as a contract by reason only of the absence of a consideration for that promise. Section - 13 - Application Of Sections 8 To 12 Sections 8 to 12 apply, subject to section 11, to transactions taking place after the commencement of this Act.

Section - 14 - Guarantees To Be Writing 1 An agreement made before or after the commencement of this Act, by which a person guarantees the due payment of a debt or the due performance of any other obligation by a third party, is void unless it is in writing and is signed by the guarantor or is entered into in a form recognized by customary law.

Section - 15 - Revocation Of Continuing Guarantee By Change In Partnership 1 A continuing guarantee given to a third person in respect of the transactions of a partnership is, in the absence of agreement to the contrary, revoked as to future transactions by a change in the constitution of the partnership.

Section - 17 - Contracts Of The Republic This Act applies to contracts and transactions entered into on behalf of the Republic as it applies to other contracts and transactions.Consent of parties to a contract is taken to be free where it is not caused by—. Consent by fraud: Assignment of contract: The principle of restitution is that a person who has been unjustly enriched at the expense of another is required to make restitution to that other.

Explain the remedies for or breach of contract? Discharge of guarantor when creditor compounds with, gives time to or agrees not to sue, principal debtor. Boulton vs Jones Skill and diligence required from agent

LOUANN from Nebraska
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