Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Save to My Library
Look up keyword
Like this
16Activity
0 of .
Results for:
No results containing your search query
P. 1
Contract Act Notes

Contract Act Notes

Ratings: (0)|Views: 2,462 |Likes:
Published by thakur_arunsingh

More info:

Published by: thakur_arunsingh on Mar 25, 2010
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as DOCX, PDF, TXT or read online from Scribd
See more
See less

01/12/2013

pdf

text

original

 
LEGAL ENVIRONMENT FOR TOURISM
What is a law?
 
y
 
A rule or body of rules essential for binding a human society
y
 
L
aw is the rule of conduct and ethics that guide all people. Without
L
aw therecan be no public order and policy.
THE INDIAN CONTRACT ACT, 1872
TITLE,
 
EXTENT
A
 ND
COMM
EN
C
E
M
ENT
 
T
his Act may be called be the
I
ndian Contract Act
,
1872.
Ex
tent
,
commencement -
I
t e
x
tends to the whole of e
x
cept the State of Jammu and Kashmir;and it shall come into force on the first day of September 
,
1872.
I
nterpretation -clauseWhen one person signifies to another his willingness to do or to abstain from doing anything
,
 with a view to obtaining the assent of that other to such act or abstinence
,
he is said to makeaproposal;When a person to whom the proposal is made
,
signifies his assent thereto
,
the proposal is saidto be accepted. A proposal
,
when a accepted
,
becomes a promise;
T
he person making the proposal is called the "promisor"
,
and the person accepting the proposal is called "promisee"
,
 When
,
at the desire of the promisor 
,
the promisee or any other person has done or abstainedfrom doing
,
or does or abstains from doing
,
or promises to do or to abstain from doing
,
 something
,
such act or abstinence or promise is called a consideration for the promise;
E
very promise and every set of promises
,
forming the consideration for each other 
,
is an agreement;Promises which form the consideration or part of the consideration for each other 
,
are calledreciprocal promises;An agreement not enforceable by law is said to be void;An agreement enforceable by law is a contract;An agreement which is enforceable by law at the option of one or more of the parties thereto
,
  but not at the option of the other or others
,
is a voidable contract;A contract which ceases to be enforceable by law becomes void when it ceases to beenforceable.A contract is defined as an agreement enforceable before the law.
`
 
AGR 
EE
M
ENT
± 
E
very promise or set of promises forming consideration for each other.Contract
D
efinedAn agreement with specific terms between two or more persons or entities in which there is a promise to do something in return for a valuable benefit known as consideration. Since thelaw of contracts is at the heart of most business dealingsStages of a ³contract´
`
 
Proposal
 
`
 
Promise
`
 
Consideration
`
 
Agreement ± (valid
,
void )
`
 
Contract (voidable and void)PROM
I
S
E
- when a person made a proposal to another and second person agrees to acceptthe proposal it is said to be promise.OFF
E
R - when a person made a proposal
,
when he signifies to another his willingness to door to abstain from doing something.AGR 
EE
M
ENT
= OFF
E
R + ACC
E
P
T
A
 N
C
E
 ³All agreements are contracts but allcontracts are not agreements.´
E
SS
ENTI
A
L
 
ELE
M
ENT
S OF A VA
LID
CO
 NT
RAC
T
 1.Offer & acceptance.2.
I
ntention to create legal relationship.3.Consideration.4.Free consent.5.
L
egality of object.6.Possibility of performance.7.Writing & registration.OFF
E
when a person made a proposal, when he signifies to another his willingness to do or toabstain from doing something.
 
TY
P
E
S OF OFF
E
 
 Ex
 press offer 
 
 
 I 
mplied offer 
 
 
 pecific offer 
 
 
G
eneral offer 
 
 
ross offer 
 
 
ounter offer 
 
 
tanding offer 
 
 
 Ex
 press offer - When offer is given to another person either in writing or in oral.
 
 
 I 
mplied offer - When offer is given to another person neither in writing nor in oral.
 
 
 pecific offer - When offer is given to a specific person.
 
 
G
eneral offer - When offer is given to entire world at a large.
 
ross offer - When both the persons are making identical offers to each other inignorance of other¶s offer.
 
 
 
ounter offer - When both the persons are making offers to each other which are not identical in ignorance of other¶s offer.
LE
GA
L
RU
LE
S FOR OFF
E
 
O
 ffer must be given with an intention to create a legal relationship.
 
O
 ffer must be definite.
 
 
O
 ffer must be communicated.
Proposal or Offer 
`
 
When one person signifies to another his willingness to do or to abstain from doinganything with a view to obtaining the assent of that other to such act or abstinencehe is said to make a proposal:Promise
`
 
When the person to whom the proposal is made
,
signifies his assent thereto
,
the proposal is said to be accepted.
`
 
A proposal
,
when accepted
,
becomes a promise.Agreement
`
 
E
very promise and every set of promises
,
forming the consideration for each other 
,
isan agreement
Leg
al Rul
e
s R 
eg
ardin
g
A Valid Acc
ep
tanc
e
 
1.Acceptance must be given only by the person to whom the offer is made.2.Acceptance must be absolute.3. Acceptance must be e
x
 pressed in prescribe manner or in some usual manner.4.
I
t must be communicated by the acceptor.5.Should be given in reasonable time.6. Acceptance must succeed the offer.7. Rejected offers can be accepted only if renewed.An offer can be accepted only by the person or persons to whom it is made and with whom itimparts an intention to contract.
`
 
I
t cannot be accepted by another person without the consent of the offeror.
cas
e
 
`
 
A sold his business to his manager B without disclosing the fact to his customer- C
,
acustomer who had a running account with A
,
sent an order for supply of goods to A by name. B received the order and e
x
ecuted the same. C refused to pay the price.Verdict of the case:-
I
t was held that there is no contract between B and C and as such Cnever made order to B and hence is not liable to pay the price to B.

Activity (16)

You've already reviewed this. Edit your review.
1 hundred reads
1 thousand reads
Maninder Kaur liked this
Shyam Raj Shyam liked this
luzkaro9599 liked this
Prashant Shukla liked this
Arpit Deshpande liked this

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->