Business Indian Contract Act 1872 Bare Act Pdf


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THE INDIAN CONTRACT ACT, ______. ARRANGEMENT OF SECTIONS. ______. SECTIONS. PREAMBLE. PRELIMINARY. 1. Short title. Extent. The Indian Contract Act, (Act no. 9 of ). CONTENTS. Preamble. Preliminary. 1. Short title. 2. Interpretation clause. Chapter I Of the communication . Full text containing the act, Indian Contract Act, , with all the sections, schedules, short title, enactment date, and footnotes.

Indian Contract Act 1872 Bare Act Pdf

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This Act may be called the Indian Contract Act,.. section Ill of the Indian Evidenc. The Indian Contract Act, enforceable by law becomes void when it. The Indian Contract Act, codifies the legal principles that govern such ' contracts'. The Act There are two bare elements of a speculative transaction. Updated Bare Act of Indian Contract Act in a systematic way with direct Here is a beautiful made PDF for Indian Contract Act that you can download.

Consideration means 'something in return'. An agreement must be supported by a lawful consideration on both sides. Essentials of valid consideration must include:- It must move at the desire of the promisor.

An act constituting consideration must have been done at the desire or request of the promiser.

If it is done at the instance of a third party or without the desire of the promisor, it will not be good consideration. For example, "A" saves "B"'s goods from fire without being ask him to do so. Consideration may move from the promisee or any other person. Under Indian law, consideration may be from the promisee of any other person i. This means that as long as there is consideration for the promisee, it is immaterial who has furnished it.

Consideration must be an act, abstinence or forebearance or a returned promise. Consideration may be past, present or future. Past consideration is not consideration according to English law. However it is a consideration as per Indian law. Example of past consideration is, "A" renders some service to "B" at latter's desire.

After a month "B" promises to compensate "A" for service rendered to him earlier. When consideration is given simultaneously with promise, it is said to be present consideration.. For example, "A" receives Rs. The money "A" receives is the present consideration. When consideration to one party to other is to pass subsequently to the maker of the contract, is said to be future consideration.

BARE ACT- The Indian Contract Act, 1872 [PDF]

For example. Consideration must be real. Consideration must be real, competent and having some value in the eyes of law. For example, "A" promises to put life to "B"'s dead wife, if "B" pay him Rs.

Consideration must be something which the promiser is not already bound to do. A promise to do something what one is already bound to do, either by law, is not a good consideration.

Consideration need not be adequate. Consideration need not be necessarily be equal to value to something given. So long as consideration exists, the courts are not concerned as to adequacy, provided it is for some value.

The consideration or object of an agreement is lawful, unless and until it is: forbidden by law: If the object or the consideration of an agreement is for doing an act forbidden by law, such agreement are void. The agreement is void as the procuring government job through unlawful means is prohibited. If it involves injury to a person or property of another: For example, "A" borrowed rs. In case of default, "A" owes to pay the principal sum at once and huge amount of interest.

This contract was held void as it involved injury to the person. If courts regards it as immoral:An agreement in which consideration ir object of which is immoral is void. For example, An agreement between husband and wife for future separation is void. Is of such nature that, if permitted, it would defeat the provisions of any law: is fraudulent, or involves or implies injury to the person or property of another, or Is opposed to public policy.

An agreement which tends to be injurious to the public or against the public good is void. For example, agreements of trading with foreign enemy, agreement to commit crime, agreements which interfere with the administration of justice, agreements which interfere with the course of justice, stifling prosecution, maintenance and champerty.

Agreements in restrained of legal proceedings: This deals with two category. One is, agreements restraining enforcement of rights and the other deals with agreements curtailing period of limitation.

Trafficking in public offices and titles: agreements for sale or transfer of public offices and title or for procurement of a public recognition like Padma Vibhushan or Padma Shri etc. Agreements restricting personal liberty: agreements which unduly restricts the personal liberty of parties to it are void as being opposed by public policy.

Marriage brokerage contact:Agreements to procure marriages for rewards are void under the ground that marriage ought to proceed with free and voluntary decisions of parties.

Agreements interfering marital duties: Any agreement which interfere with performance of marital duty is void being opposed to public policy. An agreement between husband and wife that the wife will never leave her parental house.


Contract Opposed to Public Policy can be Repudiated by the Court of law even if that contract is beneficial for all of the parties to the contract- What considerations and objects are lawful and what not-Newar Marble Industries Pvt.

This consideration or object is clearly opposed to public policy and hence the compounding agreement is unlawful and void under Section 23 of the Act. It is unenforceable as against the Petitioner-Company. Competent to contract[ edit ] Section 11 of The Indian Contract Act specifies that every person is competent to contract provided: He should not be a minor i.

He should be of sound mind while making a contract. A person who is usually of unsound mind, but occasionally of sound mind, can make a contract when he is of sound mind. Similarly if a person is usually of sound mind, but occasionally of unsound mind, may not make a valid contract when he is of unsound mind.

He is not disqualified from contracting by any other law to which he is subject There are other laws of the land that disqualify certain persons from contracting.

They are:- -Alien enemy -Foreign sovereigns, diplomatic staff etc. According to Section 14, Consent is said to be free when it is not caused by coercion or undue influence or fraud or misrepresentation or mistake. Elements Vitiating free Consent 1. Coercion Section 15 : "Coercion" is the committing, or threatening to commit, any act forbidden by the Indian Penal Code under 45, , or the unlawful detaining, or threatening to detain, any property, to the prejudice of any person whatever, with the intention of causing any person to enter into an agreement.

For example, "A" threatens to shoot "B"if he doesn't release him from a debt which he owes to "B". Since the release has been brought about by coercion, such release is not valid. Undue influence Section 16 : "Where a person who is in a position to dominate the will of another enters into a contract with him and the transaction appears on the face of it, or on the evidence, to be unconscionable, the burden of proving that such contract was not induced by undue influence shall lie upon the person in the position to dominate the will of the other.

For example, an employer may be deemed to be having authority over his employee. Enforcement of Contracts contingent on an event happening.

Contingent contracts to do or not to do anything in an uncertain future event happens, cannot be enforced by law unless and until that event has happened. Obligations of parties to contract. The parties to a contract must either perform, or offer to perform, their respective promises, unless such performance in dispensed with or excused under the provision of this Act, or of any other law.

Promises bind the representative of the promisor in case of the death of such promisors before performance, unless a contrary intention appears from the contract.

Claim for necessaries supplied to person incapable of contracting, or on his account. If a person, incapable of entering into a contract, or anyone whom he is legally bound to support, is supplied by another person with necessaries suited to his condition in life, the person who has furnished such supplies is entitled to be reimbursed from the property of such incapable person.

Compensation of loss or damage caused by breach of contract.

When a contract has been broken, the party who suffers by such breach is entitled to receive, form the party who has broken the contract, compensation for any loss or damage caused to him thereby, which naturally arose in the usual course of things from such breach, or which the parties knew, when they made the contract, to be likely to result from the breach of it.

This Chapter has been repealed by the Sale of Goods Act, 3 of sec Here is the link for Sale of Goods Act, , Section Illustration- A contracts to indemnify B against the consequences of any proceedings which C may take against B in respect of a certain sum of rupees. This is a contract of indemnity. Who may employ agent.

Any person who is of the age of majority according to the law to which he is subject, and who is of sound mind, may employ an agent. II] Here is the link for Partnership Act, II] Keep Reading….

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Skip to content. Indian Contract Act, If you wish to search for any section, please use the search box. Bare Act , Indian Contract Act. Indian Contract Act. Previous Year Exam Papers more coming soon. Constitution PDF Download. When is communication said to be completed? One Liner Facts about Indian Constitution.

Even Divorced Wife or Muta Wife are entitled for maintenance! Natural Justice. Mediation and Marriage Counselling.

Bare Act - The Indian Contract Act 1872

Power of Pardon by President and Governor. Elements, Parties and Kinds of Mortgage. Law Question and Answers Transfer of Property Act, Tagged: Minimum Wages Act, Tagged: Bare Act , Life.A is no longer bound to perform the promise. An offer and invitation to offer are not one and the same. The maxim is in parti delicto potier. Mistake as to quality of the subject-matter or promise: Mistake as to quality raises difficult questions.

It may be either of fact or of law. For example, "A" receives Rs.

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But they can sue and be sued for all claims other than their professional fees. It was contended on behalf of D, that there was no consideration from B and hence there was no valid contract. In coercion there need not be any relationship between parties; whereas in undue influence, there must be some kind of relationship between parties, which enables to exercise undue influence over the other.

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