How Many Types of Special Contracts Are Mentioned in Contract Act 1872

One of the main elements of validity of a deposit contract is the delivery of goods in the possession of another. Delivery can be real or constructive. The courts in Morvi Mercantile Bank v. Union of India stated that the delivery of the rail receipt is equivalent to the delivery of goods, which demonstrates that the implied delivery falls within the scope of the deposit. Surety is different from sale, exchange or exchange because in these transactions ownership is transferred, while in the case of bail, only ownership of the property is transferred from the lessor to the bailee. Every man in his daily life makes contracts. Man`s ability to enter into contracts increases with the increase in trade, commerce and industry in modern society. The attribution and protection of the law allows people to make the best agreement for the conclusion of the contract. People are allowed to regulate and define their relationships in the best possible way they choose. In India, these general principles are enshrined in law in the Indian Contract Act 1872. This allows the contracts to function legitimately and also to remedy the situation of the persons concerned. Therefore, the Indian Contract Act of 1872 is undoubtedly one of the most important laws of India.

In Gangaram v. Crown, the Supreme Court ruled that the delivery of the goods had to take place for a specific purpose and, once that purpose was achieved, the goods had to be returned to the bailiff or disposed of in accordance with his instructions. Delivery of goods without any particular purpose would not constitute a valid deposit contract. It is the duty of a judicial officer to disclose free of charge the defects of the delivered goods, if any. If the goods are released on bail, it does not matter; Regardless of whether the bailiff was aware of the deficiencies or not, he would be held accountable. 10. Cancellable Agreement 2(i): An agreement is a voidable contract if, at the option of one or more of the parties therein (i.e., the aggrieved party), it is legally enforceable and is not enforceable by law at the discretion of others or others. 11.

Invalid Contract 2(j): A contract becomes void if it is no longer enforceable by law. A contract can be valid, void or voidable. If a contract has no valid consideration or if the parties are unable to contract, the contract becomes void from the beginning, i.e. from the beginning. If, on the other hand, a contract was concluded without the free consent of a party, the contract is voidable at the discretion of the party whose consent was not free. Agents may not delegate the work for which they were used to another person unless ordinary commercial use permits the hiring of a sub-agent or the client has consented to the hiring of a sub-agent. There are also certain rights and obligations conferred on the Agent and the Client by the provisions of the Contracts Act. Sections 124 to 238 of the Indian Contract Act 1872 deal with specific contracts. There are mainly five specific types of contracts provided for in the Contracts Act.

Previously, the Indian Contracts Act of 1872 contained provisions on the sale of property (movable property) and partnerships. But now these two provisions have been removed from the law and are contained in two separate laws known as the Sale of Goods Act 1930 and the Indian Partnership Act, 1932. Currently, Indian contract law contains only the general principles of contracts and special contracts. The Indian Contract Act of 1872 grants the right in personam to parties who have bound their promises in a contract. Thus, in such a situation, the parties can only assert their contractual rights against each other and not against the world as a whole. 3. Fraud (Section 17): „Fraud“ means and includes any act or obfuscation of material facts or false statements knowingly undertaken by or in silence or by its agent with the intention of deceiving another party of its agent or inducing it to enter into the Contract. Mere silence is not fraud. a Contracting Party is not obliged to disclose everything and anything of the other Party.

There are two exceptions where even simple silence can be fraud, one is where there is a duty to speak, and then silence is fraud. or if silence in itself is synonymous with speech, such silence is fraud. Due to the increasing complexity of the business environment, countless contracts are concluded by the parties in the normal course of business. The „contract“ is the most common method of defining rights and obligations in a business transaction. This branch of law differs from other areas of law in one very important respect. It does not prescribe so many rights and obligations that the law will protect or enforce; it contains a set of restrictive principles according to which the parties may create rights and obligations for themselves. The Indian Contract Act of 1872 codified the legal principles governing „treaties“. The Act essentially identifies the elements of a valid legally enforceable contract as well as the treatment of certain special types of contractual relationships such as indemnification, security, deposit, lien, quasi-contracts, conditional contracts, etc. Section 10 of the Indian Contract Act 1872 defines which agreements are contracts.

A contract is an agreement concluded with the free consent of the contracting parties with a legal consideration and a lawful object. A contract that is directed against public order may be rejected by the court, even if this contract is advantageous to all contracting parties – What considerations and objects are legal and which are not Newar Marble Industries Pvt. Ltd. Vs. Rajasthan State Electricity Board, Jaipur, 1993 Cr. L.J. 1191 to 1197, 1198 [Raj.] – Agreement on which the object or consideration was contrary to public policy, illegal and void – – What could be better and what more can be an admission that the consideration or object of the compound interest agreement was that the board of directors had evaded the applicant company`s failure to prosecute the crime criminally under section 39 of the Act and that the board of directors had sent the crime to a source of profit or benefit to themselves. This consideration or purpose is manifestly contrary to public policy and, therefore, the compound interest agreement is illegal and void under section 23 of the Act. It is not enforceable against the Society of Petitioners. Contract law is such an emerging area of law that courts have a stack of similar cases to deal with. According to the authors, the applicability of these specific contracts can be better understood by court interpretations in various judgments.

The Indian Contract Act, 1872[1] prescribes the Contracts Act in India and is the principal law governing Indian contract law. The law is based on the principles of English common law. It applies to all states of India. It determines the circumstances in which the commitments entered into by the Contracting Parties are legally binding. Pursuant to paragraph 2(h), the Indian Contracts Act defines a contract as a legally enforceable agreement. 2. Undue influence (Article 16): „If a person who is in a position to control the will of another enters into a contract with him and the transaction appears unscrupulous at first sight or on the basis of evidence, the burden of proof that such a contract was not concluded by undue influence lies with the person who is able to: to control the will of the other. 7.

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