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Consult Top Contracts and Agreement Expert Lawyer in India

Precinct Legal

Partner
Exp
Bangalore , Karnataka

Specialization

  • Contracts and Agreements
  • Bankruptcy and Debt
  • Civil
  • Cheque Bounce
  • Corporate and Incorporation
Precinct Legal is a full service law firm based out of Bangalore catering to all the legal needs, be it litigation or corporate. View Full Profile

RC Law Offices RC

Advocate
Exp
Hyderabad , Telangana

Specialization

  • Contracts and Agreements
  • Banking
  • Consumer Protection
  • Criminal
  • Civil
RC Law Offices is a full service law firm having offices in Chennai and Hyderabad providing legal services to individuals and business enterprises. Our core area of practice is IPR, Family law, Criminal law, real estate,Corporate, Dispute Resolution and Arbitration, Real Estate, Banking & Finance. View Full Profile

Barun Ghosh

Sr. Lawyer , Sr. P.P. In-Charge
Exp
Kolkata , West Bengal

Specialization

  • Contracts and Agreements
  • Adoption
  • Banking
  • Cheque Bounce
  • Child Custody
I am an individual lawyer with associates having background in finance law and accounts as Cost Accountant and dedicated to professional excellence, personal and high quality support and effective solution oriented advocacy with proper due diligence in litigated matters and also strategizing them. View Full Profile

Varun Dharap

Lawyer
Exp
Pune , Maharashtra

Specialization

  • Contracts and Agreements
  • Cheque Bounce
  • Child Custody
  • Civil
  • Consumer Protection
An ambitious lawyer and hard working person with a practical hands-on approach. Detailed oriented professional who always works to achieve the best results. View Full Profile

Adv. Jayashri Bodekar

Advocate
Exp
Pune , Maharashtra

Specialization

  • Contracts and Agreements
  • Divorce
  • Documentation
  • Commercial
  • Employment And Labour
An Advocate located in Pune providing legal and Paralegal Services, Movable and Immovable property related services which include Consulting, verification of documents, Search and title reports, drafting, and execution by registration at various locations in Pune. View Full Profile

Murugesh Ramiah

Partner
Exp
Bangalore , Karnataka

Specialization

  • Contracts and Agreements
  • Family
  • Landlord and Tenant
  • Will
  • Cyber, Internet, Information Technology
Assuredjustice.com is a technology driven legal services provider. Our practice areas include Family law, Real Estate, Mergers & Acquisitions, Civil law, Corporate Law, NCLT, CAT, Consumer Courts, Labor & Employment Law, Patents, Trademarks & Intellectual Property. View Full Profile

Sunil Kumar Singh

Lawyer,Attorney,Solicitor
Exp
Kanpur , Uttar Pradesh

Specialization

  • Contracts and Agreements
  • Commercial
  • Consumer Protection
  • Advertising
  • Admiralty and Maritime
Prominent Lawyer,Experience to Assit Court of Justice , He has been providing services in various fields of law, including, but not limited to Civil, Criminal, Arbitration, Labour & Service Matters, Intellectual Property Rights, Trademark, matters relating to Property Law, Copyright, inter Thank View Full Profile
Total Answers Given : 223

Vimlesh Mishra

Advocate High Court
Exp
Lucknow , Uttar Pradesh

Specialization

  • Contracts and Agreements
  • Consumer Protection
  • Civil
  • Criminal
  • Divorce
I am Lucknow based advocate practicing mainly in Allahabad High Court Lucknow bench along with local and family courts, state consumer dispute redressal Commission and Consumer Court taking up cases of various natures which includes civil ,criminal ,consumer disputes ,commercial and family disputes. View Full Profile
Total Answers Given : 70

ANIL KUMAR PC

ADVOCATE
Exp
Ernakulam , Kerala

Specialization

  • Contracts and Agreements
  • Cyber, Internet, Information Technology
  • Banking
  • Cheque Bounce
  • Consumer Protection
'Standing counsel of a Government Company in the High Court of Kerala ,with proven efficiency to handle all types of Cases in High Court and other Courts. Able to handle any sort of cases to render justice to the clients.We are experts in Cyber and telecommunication laws View Full Profile
Total Answers Given : 10

RAKTIM PUJARI

ADVOCATE
Exp
Sundargarh , Orissa

Specialization

  • Contracts and Agreements
  • RTI
  • Tax-Income Tax
  • Landlord And Tenant
  • Partnership
Self managed and dedicated professionals to provide legal services in a distinct and practical way. View Full Profile
Total Answers Given : 3
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  • What is contract law?
  • What are the main features of contract law?
  • What is the definition of a valid contract?
  • What does it take for a contract to legally binding?
  • What are the elements of a valid contract?

What is contract law?


Contracts are basically agreements that have the power of legal enforceability and protection. As per Section 2(e) of the Indian Contract Act 1872 (hereinafter referred to as the ICA), agreements refer to ‘every promise and every set of promises, forming consideration for each other’. As per Section 2(h) of the ICA, a contract is “an agreement enforceable by law”.

The basic gist of what contract is the following:

Proposal + Acceptance = Promise

Promise + Consideration = Agreement

Agreement + Enforceability = Contract

Therefore, Contract = Promise + Consideration + Enforceability.

*ICA is applicable to whole of India barring the state of Jammu and Kashmir.

Essentials of a contract:


  • Offer –

    When one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that other to such act or abstinence, he is said to make a proposal. An offer is the penultimate act leading to an agreement. Once an offer is accepted, both parties are bound by the agreement. An offer must be clear, definite, and unambiguous.
  • Acceptance –

    When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted. A proposal, when accepted, becomes a promise. Acceptance can happen through speech, writing, conduct/performance, etc. Acceptance must be unqualified, absolute, clear and definite.
  • Consideration-

    Consideration can be defined as the price of the promise made. Both parties must be giving and receiving consideration in order for the agreement to be supported by consideration. Consideration need not be adequate, it just needs to be valid in the eyes of law.
  • Capacity to Contract-

    Minors, people of unsound mind, and/or people who are disqualified from contracting by some law to which they are subjected to, are considered incompetent to contract. The Indian Contract Act does not explicitly state whether a contract with a minor is void or voidable. However, in the case of ‘Mohri Bibee v. Dharmodardas Ghose’ observed that contracts with a minor are void ab initio, and that no restitution of benefits can be claimed by the parties. However, a party entering into a contract with a minor can seek reimbursement for supplying ‘necessities’ to the minor.
  • Consent-

    For a contract to be legal, parties must have exercised their consent freely without unlawful manipulation. Consent is not considered to be free consent when there is presence of Coercion, Undue Influence, Fraud, Mistake, Misrepresentation(for eg. Active concealment of relevant facts). In absence of ‘consensus ad idem’ or meeting of minds, contract stands void.
  • Lawful motive and object-

    An agreement even if it satisfies all the above conditions would not be a contract if it is for an unlawful motive like selling prohibited narcotics or has an unlawful consideration like the promise of murdering someone in exchange of a particular amount of money.

Miscellaneous facts about Contract Laws:


  • Wagering contracts are illegal in India, however some states allow restrictive betting, for example casino is allowed on certain conditions in Goa and Sikkim. Horse racing also enjoys legality as there are several factors to it like the kind of training given, nutrition provided etc. which don’t make it a game of luck or chance. Case of ‘Dr. K.R. Lakshmanan v. State of Tamil Nadu’ observed that horse racing is a game of skill and cannot be deemed to be a game of pure chance, hence it is legal to bet on horse racing.
  • Balfour v. Balfour – An agreement cannot be enforced if the parties did not intend on creating a binding agreement.
  • Carlill v. Carbolic Smoke Ball Co. – Any person can accept a general offer that was made to the public at large, and the execution of the conditions for the offer will be considered as acceptance.
  • Mohori Bibee v. Dharmodas Ghose – Contract with a minor is void ab intio (void from the beginning)
  • Kedar Nath v. Gorie Mohammad – An agreement in absence of consideration can be binding provided the promise took certain steps in furtherance of the object on the basis of the promise made by the promisor. (Rule of Promissory Estoppel)

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