Contract law

Contract law is a body of law that governs the formation, enforcement, and enforcement of binding legal agreements between two or more parties. It is based on the idea that when two parties agree to something, a legally enforceable agreement is formed. Contract law covers a wide range of agreements, from the sale of goods and services to employment contracts. The key elements of a contract are an offer, an acceptance, consideration (something of value such as money or a promise to do something), and an agreement.

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CONTRACTUAL RELATIONSHIPS

CONTRACTUAL RELATIONSHIPS

The Indian Contract Act, an important legislation governing contractual relationships in India, encompasses various provisions that recognize certain relations resembling those created by contract. These provisions offer legal recognition and protection to...

AGREEMENT WITHOUT CONSIDERATION IS VOID (SECTION 25)

AGREEMENT WITHOUT CONSIDERATION IS VOID (SECTION 25)

SECTION 25 -  Agreement  Without Consideration Void Unless It Is In Writing And Registered,  Or Is A Promise To Compensate For Something Done, Or Is A Promise To Pay A Debt Barred By Limitation Law. Section 25 of the Indian Contract Act, 1872, deals with agreements...

WHAT IS A SOUND MIND FOR THE PURPOSE OF CONTRACTS  (SECTION 12 )

WHAT IS A SOUND MIND FOR THE PURPOSE OF CONTRACTS  (SECTION 12 )

In contract law, the mental capacity of parties involved is crucial to ensure the validity and enforceability of agreements. Section 12 of the Indian Contract Act lays down the requirement of a "sound mind" for entering into a contract.  Defining "Sound Mind" :  A...

WHO ARE COMPETENT TO  CONTRACT  (SECTION 11)

WHO ARE COMPETENT TO  CONTRACT  (SECTION 11)

In the realm of contract law, the Indian Contract Act, 1872, plays a vital role in defining the rights and obligations of parties entering into an agreement. Section 11 of the Act sheds light on the concept of competency to contract.  Section 11 of the Indian Contract...

 PERFORMANCE OF CONTRACT

 PERFORMANCE OF CONTRACT

Contracts play a vital role in commercial transactions and serve as a legal framework for parties involved to fulfil their obligations. In India, the performance of contracts is regulated by the Indian Contract Act, 1872.  Definition of Contract Performance: Under the...

CONTRACTS WHICH NEED NOT TO BE PERFORMED 

CONTRACTS WHICH NEED NOT TO BE PERFORMED 

Contracts play a vital role in our daily lives, and it's essential to be aware of the various provisions under the Indian Contract Act.  SECTION 62  (Effect of Novation, Rescission, and Alteration of Contract) :  This section states that if a contract is altered,...