Indian Contract Act, 1872 Part - 1

By
Alroy D'Souza
Dinesh Rao
Faizan Shaikh
Mihir Zemse
Neil Udani
Oswald Thombare
Prianca Dias
Rahul Sarangle
Sandeep Temgire
 Essential of Contracts
• Law & Law of Contract

• Contract & Agreement

• Essential of Valid Contract

1. Intention to create legal relationship.

2.  Lawful object

3.  Agreement not expressly declared void

• Offer and Acceptance

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 Valid Offer and Acceptance
1. Valid Offer
• Introduction
• Essential requirements
• Termination

2. Acceptance
• Introduction
• Essential requirements

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 Capacity to Contract

• Introduction

• Persons disqualified from entering into the contract are

– Minors
– Persons of Unsound Mind
– Persons disqualified by law

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 Consideration & Sale of Goods
• Consideration
– Definition
– Essential elements
 Move at the desire of the promisor
 Move from any person
 Past present and Future

• Sale of Goods
 Types
1) Existing 2) Contingent 3) Contingent
 Essential of Contract of sale
1) Two parties 2) Goods 3) Sale
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 Free Consent
1. Consent

2. Free Consent
 Factors affecting the Free Consent
1. Coercion (Section 15)
2. Undue Influence (Section 16)
3. Fraud
4. Misrepresentation (Section 17 , 18)
5. Mistake (Section 20 , 21)

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 Legality Of Object and Consideration, and
Agreements Opposed to Public Policy
• Circumstances under which the object or
consideration is deemed to be unlawful

a) If it is forbidden by law
b) If it defeats the provision of any law
c) If it is fraudulent
d) If it involves or implies injury to a person or
property of another

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 Legality Of Object and Consideration, and
Agreements Opposed to Public Policy
• Illegal Agreements
– Meaning & Effects of Illegal agreements

– Agreements opposed to Public Policy

a) Agreements of Trading with Enemy
b) Agreement for Stifling Prosecution
c) Agreements in the Nature of Maintenance
and Champerty
d) Agreement for the Sale/Transfer of Public
Offices and Titles.

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 Damages & Void Contracts
1. Damages
• Introduction
• Types
• Compensatory Damage
• Nominal Damage
• Exemplary Damage
• Special Damage

2. Void Contracts
• Introduction
• Types
– Contingent Contract
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 Breach of Contracts
1. Introduction

2. Types of Breach of Contracts

a) Material b) Minor
c) Anticipatory d) Actual

3. Remedies
1. Suit for Rescission
2. Suit for Damages
3. Suit for Quantum Meruit
4. Suit for specific performance
5. Suit for Injunction
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 Quasi Contract
1. Introduction

2. Sections which covers Quasi Contracts are :

1. Supply of necessaries (Section 68)
2. Payment of Lawful dues by interested person (Section
69)
3. Person enjoying benefits of a gratuitous act (Section 70)
4. Finder of goods (Section 71)
5. Goods or anything delivered by mistake(Section 72)

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 References

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