Transcription of B-LAW NOTES UNIT-1:- CONTRACT ACT - Webs
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B-LAW NOTES UNIT-1:- CONTRACT ACT - Webs
B-LAW NOTESUNIT-1:- CONTRACT ACT1Q. Define CONTRACT ? Discuss the essential elements of a valid CONTRACT ?(Or) Law of CONTRACT is not the whole of law of agreement nor whole law of obligation. Discuss enumerating the essentials of a valid CONTRACT ? (or) The parties to a CONTRACT in a essence make the law for themselves?(Or) What is the nature and the object of CONTRACT ?Ans: Meaning: A CONTRACT is an agreement made between two (or) more parties which the law will enforce. Definition: According to section 2(h) of the Indian CONTRACT act, 1872. An agreement enforceable by law is a to SALMOND, a CONTRACT is An agreement creating and defining obligations between the parties Essential elements of a valid CONTRACT :According to section 10, All agreements are contracts if they are made by the free consent of the parties competent to CONTRACT , for a lawful consideration and with a lawful object and not here by expressly declared to be void In order to become a CONTRACT an agreement must have the following essential elements, they are follows:-1) Offer and acceptance: To constitute a CONTRACT there must be an offer and an acceptance of that offer.
[ Facey to Harvey] Judgment: There was no concluded contract between Harvey and Facey. Because, a mere statement of price is not considered as an offer to sell. 10) Offer should not contain a term “the non-compliance” of which may be assumed to amount to acceptance.
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