Contract Act 1872

Kinds
 Kinds of Contract
• Kinds According to Enforceability
– Valid Contracts
– Void Contracts
– Void Agreements
– Voidable Contracts
– Unenforceable Contracts
– Illegal Agreements
• Kinds According to Formation
– Express Contracts
– Implied Contracts
– Quasi Contracts
• Kinds According to performance
– Executed Contracts
– Executory Contracts
• Kinds According to Parties
– Unilateral Contracts
– Bilateral Contracts
 Kinds of Contract
• Valid Contracts
– An agreement enforceable by law is contract
– Must have all essentials of valid contract
• Void Contracts
– Cannot be enforced by either party
– “A Contract which ceases to be enforceable by law
becomes void, when it ceases to be enforceable”.
– When contract become Void
• Impossibility of Performance
• Subsequently illegality
• Impossibility of Depending event
• Rejection of voidable Contract
 Kinds of Contract
• Void Agreements
– “An agreement not enforceable by Law is said to
be void”
– Void ab-Initio
• Voidable Contract
– “An agreement which is enforceable by law at
option of one or more of the parties thereto, but
not at the option of other or others, is a voidable
contract”
– When contracts become voidable
• Unfree Consent
• One prevents other to perform his duties
• Non performance within specified time