However. Indemnity and Guarantee 2. Agency The Origin of the Contract A contract may be defined as an agreement which is enforceable at law.1872 The law governing the contracts in Pakistan is contained in the Contract Act. The first 75 sections of this Act contain a discussion of general principles governing all types of contracts. accept it.1872. Offer and acceptance make an agreement and if it is enforceable at law. Bailment 3. .The Contract Act. the remaining sections deal with the following three special types of contracts: 1. it is called a contract. It originates when a person named as proposer makes a proposal or offer and the party to whom the proposal is made is called proposee or offeree.

• • • • • • • • • • Proposal Illustration Invitation of Offer Standing offer Acceptance Promise Reciprocal Promise Promiser Promisee Agreement .

attested and registered in cases in which it is so required to be done by any law in Pakistan. 3. The agreement must not come within the clauses of agreement which have been declared as void by the Contract Act. 2. The agreement must be in writing.” If free consent of any party is absent then contract is invalid. Contract = An Agreement + Enforceability of an agreement An agreement must meet the following criteria to qualify as a contract: 1. The parties must give their free consent. There must be an agreement. 5. 6. The consideration and the object must be lawful. . Contract An agreement which is enforceable at law is called a contract.Consent The consent has been defined in law as: “two or more persons are said to consent when they agree upon the same thing in the same sense. 4. The parties must be competent to contract.1872.

• • • • • • • • Valid Contract Voidable Contract Void Contract Unenforceable Contract Illegal Contract Contingent Contract Quasi Contract Quantum Merit .

Proposal Acceptance Promise Consideration Agreement Enforceable by law Contract .

Free Consent of Parties (a) Coercion (b) Undue Influence (c) Fraud (d) Misrepresentation (e) Mistake IV. Offers and Acceptance II.I. Contractual Capacity (a) Age of Majority (b) Sound Mind (c) No other disqualification III. Lawful Consideration and Object .

V. Agreement Expressly Declared as Void (a) Agreement in Restraint of Marriage (b) Agreement in Restraint of Trade (c) Agreement in Restraint of Legal Proceedings (d) Agreements Involving Uncertainty (e) Agreement by Way of Wager (f) Agreement to do an act. which is impossible (g) Agreement which of immoral acts VI. Agreements in Writing and Registered .

• Agreement in restrain of marriage • Agreement restrain of Business/Trade • Mistake of both the parties • Agreement by way of wager • Uncertainty in agreement • Unlawful object • Immoral • Fraudulent case • Injury to others or against public policy • Agreement without object • Agreement to do impossible acts .Void contract are those which are not enforceable by law.

• • • • • • • Agreement in restrain of legal proceedings Contract by minor Contract by unsound minded persons Contracts by Frauds Contracts Coercion Contracts by misrepresentation Agreement without consideration .

General Proposal II. Specific Proposal III. Express Proposal IV.I.Impelled Proposal .

V. III. Legal Relationship Clear Terms & Conditions General and Specific Offer Must be communicated Assent must be an Object Distinction between Proposal and Invitation . VI. II. IV.I.

.The term ‘revocation’ means ‘taking back’ or ‘withdrawal’.

Lapse Of an Offer By Revocation By Lapse of Time By Death or insanity of the offeror offeree By Failure to accept condition precedent By Counter Offer By not accepting in the prescribed mode or usual mode By Rejection of Offer by Offeree By Subsequent illegality or destruction of subject matter of the offer .

Marriage brokerage contracts.• • • • • • • • • Contracts for sale of pubic offices. Contracts for waiving liquidity. Contracts tending to create interest against duty. Contracts in the nature of maintenance and champerty. Contracts with the courts of justice. Contracts contrary to molarity. Contracts for stifling prosecution. . Contracts for trading with enemies.

IV. Novation Waiver Condition Subsequent III. c.I. VI. By Mutual Agreement a. By Impossibility of Performance By Operation of Law By Breach By Lapse of time . V. b. By Performance II.

• By Impossibility Created by one Party before Performance is Due. • By Renunciation in the course of Performance. • Impossibility Created by one Party in the Course of Performance.• By Renunciation before Performance. • By Failure of Performance. .

Exemplary Damages III. Contemptuous Damages VI. Special Damages V.Types Of Damages : I. General Damages IV. Liquidated Damages . Nominal Damages II.

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