Flashcards : Indian Contract Law — 92 cartes

An offer and acceptance.

A promise and consideration.

An agreement enforceable by law.

A person's willingness to act or abstain to get another's consent.

Promises that serve as consideration for each other.

Commercial agreements are enforceable.

No, they are not enforceable.

Proper offer and acceptance.

Contracts by creation are express, implied, tacit, quasi, or electronic.

Contracts by validity are valid, void, voidable, illegal, or unenforceable.

Contracts by execution are executed, executory, or partly executed and partly executory.

Contracts by liability are bilateral or unilateral.

A voidable contract is enforceable at the aggrieved party's option.

A quasi contract arises by operation of law, not by agreement.

An executed contract has obligations fulfilled by both parties.

A present void contract was once valid but became invalid due to later changes.

It must be communicated, certain, definite, capable of creating a legal relationship, and aimed at acceptance.

A general offer is made to the public and accepted by anyone, a special offer targets specific persons.

It modifies and rejects the original offer.

By revocation notice, death or insanity of the offeror, or lapse of time.

When it comes to the offeree's knowledge or reaches the offeree by post.

It must be unconditional, by the offeree or authorized person, communicated timely and properly.

Consideration must be desired by the promisor, lawful, real, not illusory, differ from existing obligation, and may be past, present, or future.

Adequacy of consideration is not required for a valid contract.

Consideration is generally necessary for every contract under the rule that there is no contract without consideration.

No consideration is required for agreements involving natural love and affection when written, registered, and between persons in immediate relation.

No, only parties to the contract can sue under privity of contract.

Yes, a third party may provide consideration under privity of contract.

A trust beneficiary is an exception to the privity of contract rule.

An assignee is an exception to the privity of contract rule.

Minors, persons of unsound mind, and persons disqualified by law.

It is void ab initio and cannot be ratified after majority.

No, it is not subject to estoppel against the minor.

Restore property or money acquired under the void agreement.

No, the minor is not personally liable.

An idiot has permanently lost mental power, a lunatic has alternating sanity and insanity.

They cannot think rationally while intoxicated.

Alien enemy, convict, insolvent, foreign diplomat, company beyond its memorandum, and married woman.

Committing or threatening an offence or unlawfully detaining property to cause agreement.

When one party dominates another's will through a near relationship to gain unfair advantage.

Fraud involves intentional deception that actually deceives the other party.

An innocent false representation acted upon without knowledge of its falsity.

When silence is equivalent to speech, including partial truth that deceives.

It is not treated like a mistake of fact.

It has the same effect as a mistake of fact.

Bilateral, unilateral, or mistakes about the subject matter.

When it is forbidden by law, fraudulent, injures a person or property, immoral, or opposes public policy.

Trading with an alien enemy is an example of a public-policy void agreement.

Champerty involves sharing proceeds, maintenance does not.

No, they are void except for specified exceptions like partnership restrictions and arbitration agreements.

A promise to pay money on an uncertain event with equal chances, no interest or control, and a common betting intention.

They are expressly void in India.

No, the loser cannot recover it from the winner after payment by the stakeholder.

An uncertain collateral event happening or not happening triggers performance.

It is imposed by law to prevent unjust enrichment, not agreement.

It creates a right in personam.

Supply of necessaries to an incompetent person is one cause.

No, personal liability cannot be imposed on the incompetent person.

From the incompetent person's property, including that of persons they support.

They must take reasonable care and seek the true owner.

Lawful preservation expenses may be recovered.

By performance, impossibility, lapse of time, law, agreement, or breach.

It must be unconditional, timely, at proper place, verifiable, to promisee or agent, by able person, covering whole obligation.

Cancel or continue the contract and claim damages.

Only the promisee may demand performance.

Initial impossibility makes contract void from start; supervening arises from unexpected events later.

Actual breach is failure on due date; anticipatory breach is declaration before due date of non-performance.

Rescission, damages, specific performance, injunction, quantum meruit, and various damages types.

A promise to save another from loss caused by the promisor or another person.

Performing a promise or discharging a third person's liability on default.

A specific guarantee covers one transaction; a continuing guarantee covers a series.

By notice to the creditor or the surety's death for future transactions.

No, liability for transactions before revocation remains unaffected.

It is secondary and ordinarily equal to the principal debtor's liability.

Yes, unless otherwise agreed, the creditor may proceed against the surety first.

By revocation, death, release of the principal debtor, unauthorized variance, or creditor conduct impairing remedy.

Delivery of goods for a purpose under contract with return or disposal after.

Contract, delivery, purpose, return or disposal, with no consideration needed.

It transfers physical possession of the goods.

It transfers control through an act like handing over keys.

To take reasonable care and avoid unauthorized use or mixing.

The right of lien over the goods.

Bailment of goods as security for debt or promise payment.

To retain, sell, sue for deficit, and pay surplus to the pawnor.

A relationship where an agent acts for a principal with a third person.

By express authority, implied authority, estoppel, necessity, or ratification.

The date of the original act.

A special agent is appointed for a specific act, a general agent for transactions within authority.

An agent must follow the principal's directions.

By express agreement, trade custom, non-disclosure, nonexistent principal, excess authority, or foreign principal.

A sub-agent acts under the original agent's control; a substituted agent is appointed with the principal's consent.

By revocation, renunciation, completion, death, insanity, or insolvency of the principal.