logging in or signing up Law of contract preethb Download Post to : URL : Related Presentations : Let's Connect Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Copy embed code: Embed: Flash iPad Dynamic Copy Does not support media & animations Automatically changes to Flash or non-Flash embed WordPress Embed Customize Embed URL: Copy Thumbnail: Copy The presentation is successfully added In Your Favorites. Views: 1930 Category: Entertainment License: All Rights Reserved Like it (0) Dislike it (0) Added: August 20, 2010 This Presentation is Public Favorites: 1 Presentation Description No description available. Comments Posting comment... By: vijay.waghulkar (25 month(s) ago) nice Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript Law of contract : Law of contract An agreement enforceable by Law Agreement = offer +acceptance Essentials of a contact : Essentials of a contact At least two parties Agreement = Offer and Acceptance Consensus ad idem-identity of mind Free consent –the contracting parties must give their consent freely. Contractual competency Lawful consideration Lawful object Slide 3: The agreement is capable of being performed Legal formalities Kinds of contract : Kinds of contract Express Contact Implied contract Quasi contract Valid Contract Void contract- A void able contract IIIegal Void agreement An enforceable contract An executed contract An executory contract Express contract : Express contract A contract which is made in word-spoken or written Eg:A,who in front of B makes an offer to sell out his bike to B by mouth.B accept it verbally . Implied Contact : Implied Contact not made by the parties in writing or by words of mouth .this contract inferred from the conduct of the parties Eg:bus restaurant Quasi contract : Quasi contract quasi contracts are based on the principle of justice and equity.inspite of not having any contract between parties ,the rights and obligations as created by a formal contract Executed and executory : Executed and executory Performed contract One that has not been yet performed Valid contract : Valid contract Satisfied all conditions of essential contract Void contract : Void contract The contract may either from beginning when it was made or may later on discover to be void Void able contract : Void able contract Aggrieved party Illegal contract : Illegal contract Object is lllegal Unenforceable contract : Unenforceable contract Due to some technical error A makes out promissory note in favour of B for Rs.1000.It has stamp duty of Rs 5.While as per law requirement of law it must have stamp duty of Rs 10 You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.