Professional Documents
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Presented by,
Katta Ananya Sree
According to Sec 2 (h) of Indian Contract Act ,
1872,
the term contract is defined as
‘An agreement enforceable by law’.
Agreement Enforceable by law Contract
Types of Contracts
Formation / Execution /
Validity Liability
Creation Performance
• Expressed • Valid • Executed • Unilateral
• Implied • Void • Executory • Bilateral
• Tacit • Voidable
• Quasi • Illegal
• E-Contract • Unenforceable
Based on Formation
Expressed Contracts:
The terms of the contract are
expressly agreed upon (whether
orally or in writing) at the time of
formation.
• E-mail contract
• Website contract
Contract which is
acceptable by law at the
option of one party but
not at other.
• Contract is good in
substance but because of
some technical defect it
cannot be enforced by
law.
Based on Execution / Performance
Executed Contract: