Contract Is Defined As An Agreement Enforceable By Law Vide Section Of Indian Contract Act

September 15, 2021 9:10 pm

3. Fraud (section 17): “fraud” means any act or concealment of essential facts or misrepresentations made knowingly by a party, with its duality or by its agent, for the purpose of deceiving another party of its agent or inciting it to enter into the contract. Simple silence is not a scam. a contractor is not required to disclose all or part of the other party. There are two exceptions where even simple silence can be fraud, one is where there is a duty to speak, so silence is fraud. or if silence is in itself synonymous with language, such silence is a scam. The same was true of the Supreme Court in Alka Bose against Parmatma Devi & Ors [Civil Court of Appeal No. 6197 OF 2000], the court having decided that even a contract of sale could be oral and that it had the same binding value and enforceability as a written agreement. The agreement should comply with the principles set out in section 10 of the Indian Contract Act 1872 and, therefore, have the same probative value as a letter. In the law, the relationship that exists when one person or party (the sponsor) instructs another (the agent) to act for him, for example.

B to do his job, sell his goods, manage his business. The law of the agency therefore regulates the legal relationship in which the contractor has dealings with a third party on behalf of the contracting entity. The competent representative shall be able to act with the third party to act for that contracting entity. Therefore, the process of concluding a contract by an agent involves a double relationship. Agency law deals, on the one hand, with the external commercial relations of an economic entity and, on the other hand, with the powers of the various representatives to influence the legal status of the contracting authority. On the other hand, it also regulates the internal policy relationship between the contracting authority and the trustee and thus interferes with the trustee certain obligations (diligence, accounting, good faith, etc.). 11. Null contract 2 (j): a contract becomes unenforceable if it is no longer applicable by law.

4. Misrepresentation (section 18): “any part of an agreement, however innocent, is led to commit an error in the substance of the thing which is the subject of the agreement”. According to ยงยง 201 to 210, an agency can end in different ways: oral agreements, on the other hand, consist of words, gestures, symbols by which one party transmits to another party a promise or a series of promises which, when adopted by the other party, become a valid oral agreement. They can express or involve in nature. Oral agreements in force are final before the courts. However, it is not of great probative value, as the agreement is understood by word of mouth and obtained by second-hand knowledge. In the event of a dispute or appeal, it is difficult for the Tribunal to establish the true nature of the facts and conditions of the agreement, without bias. At present, the Indian Contracts Act can be divided into two parts: the consideration or the subject matter of an agreement is legal, except and until it is: a g r r e m i s e + c o n s i e r e o n. {displaystyle=promise+consideration. This decision was prompted by the Delhi High Court in Nanak Builders and Investors Pvt.

Ltd. v Vinod Kumar Alag AIR 1991 Delhi 315, the court having decided that an oral agreement could also be a valid and enforceable contract. Therefore, in the strict sense of the term, it is not necessary for a contract to be in writing, unless this is provided for by law or the parties themselves intend to reduce the contractual conditions to the written form. 2. Unlawful influence (section 16): “Where a person capable of controlling the will of another enters into a contract with him and the transaction appears ruthless at first sight or on the evidence, the proof that this contract was not obtained by unlawful influence shall be incumbent on the person who is able to: To dominate the will of the other.” 28. . . .