f) Not expressly declared void:
The statute should not declarean agreement void. The Act itself has declared certain types of agreements as void. E.g., agreements in restraint of marriage, trade,legal proceedings. In such cases, the aggrieved party can’t seek anyrelief from the court of law.
g) Possibility of performance:
The agreement should be capableof being performed. e.g., Mr. A agrees with Mr. B to discover treasureby magic. Mr. B can’t seek redressal of the grievance if Mr. A fails toperform the promise.
h) Certainty of terms:
The terms of the agreement should becertain. E.g., Mr. A. agrees to sell 100 tons of oil. The agreement isvague as it does not mention the types of oil agreed to be sold.
i) Intention to create legal obligation:
Though Sec. 10 is silentabout this, under English law this happens to be an importantingredient. Therefore, Indian courts also recognize this ingredient. Anagreement creating social obligation can’t be enforced.
j) Legal formalities:
Indian Contract Act deals with a simplecontract supported by consideration. Agreements made in India maybe oral or written. However, Sec. 10 states that where the statutestates that the contract should be in writing and should be witnessedor should be registered, the same must be observed. Otherwise, theagreement can’t be enforced e.g., Under Indian Companies Act, theMemorandum of Association and Articles of Association must beregistered.
Sec. 2 (b) “When the person to whom the proposal ismade signifies his willingness thereto the proposal is said to beaccepted. A proposal, when accepted, becomes a promise
.”By accepting the offer, the acceptor expresses his willingness to bebound by the terms and conditions of the offer. Regarding an offer andits acceptance, Anson has given an analogy of a lighted match stick.“
Acceptance is to an offer what a lighted match is to a train of gunpowder. It produces something which can’t be recalled or undone
.”An acceptance turns the offer into a binding obligation.
Rules Regarding Acceptance:a) An offer can be accepted only by the person to whom it ismade:
The offeree only has to accept the offer. In case it is acceptedby any other person no agreement is formed. However, in case