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Contract+act

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Komma Naveen Kumar
Komma Naveen Kumar
Business
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INTRODUCTION LAW OF CONTRACT
What is a Contract ? ,[object Object],[object Object],[object Object],[object Object]
Steps involved in Contract ,[object Object],[object Object],[object Object],[object Object]
Steps involved in Contract ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
 
Form of Contracts ,[object Object],[object Object],[object Object]
2 classes of Contract ,[object Object],[object Object],[object Object],[object Object]
Bilateral & Unilateral ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Offeror or Promisor The person who make the offer Offeree or Promisee The person to whom the contract was made
Unilateral contracts ,[object Object],[object Object],Example : X promises a reward to anyone who will find his lost wallet. X bound himself to the promise, but no one is bound to search for the lost wallet. But if Y, having seen the offer, recovers the wallet and returns it, he is entitled to the reward. 1 Offeror Many Offerees
Essential elements of a Contract ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
Enforceability ,[object Object],[object Object],[object Object],[object Object]
Features of Void agreements ,[object Object],[object Object],[object Object],[object Object]
Features of Void agreements ,[object Object],[object Object]
Features of Void agreements ,[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object]
Classification of Contracts Classification according to validity Voidable contracts Void contracts Illegal contracts Unenforceable contracts Classification according to formation Express contracts Implied contracts Quasi contracts E-commerce contracts
Classification of Contracts….. Classification according to Performance Executed contracts Executory contracts Unilateral or one-sided contracts Bilateral Contracts Classification according to formation Formal Contracts (a) Contracts of Record: is either a judgment of a court or recognisance (b) Contracts under seal: A contract under seal is one which derives its binding force from its form alone. Simple contracts:
Unilateral Contracts or one-sided contracts ….. A contract in which only one party has to fulfill his obligation at the time of the formation of the contract, the other party has fulfilled his obligation at the time of the contract or before the contract comes into existence. (Contracts with the executed consideration) Bilateral contracts: In which obligations on the part of both of the parties to the contract are outstanding at the time of the formation of the contract. (Contracts with the executory consideration)
End

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Contract+act

  • 1. INTRODUCTION LAW OF CONTRACT
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  • 17. Classification of Contracts Classification according to validity Voidable contracts Void contracts Illegal contracts Unenforceable contracts Classification according to formation Express contracts Implied contracts Quasi contracts E-commerce contracts
  • 18. Classification of Contracts….. Classification according to Performance Executed contracts Executory contracts Unilateral or one-sided contracts Bilateral Contracts Classification according to formation Formal Contracts (a) Contracts of Record: is either a judgment of a court or recognisance (b) Contracts under seal: A contract under seal is one which derives its binding force from its form alone. Simple contracts:
  • 19. Unilateral Contracts or one-sided contracts ….. A contract in which only one party has to fulfill his obligation at the time of the formation of the contract, the other party has fulfilled his obligation at the time of the contract or before the contract comes into existence. (Contracts with the executed consideration) Bilateral contracts: In which obligations on the part of both of the parties to the contract are outstanding at the time of the formation of the contract. (Contracts with the executory consideration)
  • 20. End