STANDARD FORM

OF CONTRACT
 TOPICS TO BE COVERED

What is standard form of contract?

What is contract?
Example related to standard form of
contract?
 WHAT IS CONTRACT?

 A contract means an agreement which is enforceable by

law. An agreement consists of reciprocal promises between
two parties.
 According to section 2(h) of the Indian contract Act, 1872
“ an agreement enforceable by law is a contract. “ All
agreements are not enforceable by law hence all
agreements are not contract.
 WHAT IS STANDARD FORM OF
CONTRACT?
 Standard form of contract in Lay – man terms means ‘take
it ‘ or ‘leave it ‘ kind of contract. In this type of contract
the other party is not in position to negotiate with terms
and conditions laid down in the contract, party just have
the option to either enter into contract or forget about the
contract . The contract with standard form may be drafted
by one party and on the same terms contracts may be made
with numerous persons.
EXAMPLES RELATED TO STANDARD
FORM OF CONTRACT
 An insurance company may prepare a draft , of insurance policy
which form the basis of contract with a large number of insured
persons.
  Similarly, the railway authorities may print various terms and
conditions in the timetable which may be deemed to be the basis of
the contract with thousands of passengers who may be travelling by
railway everyday.
  The same Terms and Conditions may be printed on the back of
every receipt issued by a dry cleaner, or every lottery ticket sold by
any particular person or institution.
THANK YOU