Agreement And Contract Ppt
5 Based on CreationEXPRESS CONTRACT- This is what is done by spoken or written words. Example: – S says to Y “Do you want to buy my casting for 1,000 Rs? Y tells X, “I`m ready to buy a car for Rs 1.00,000.” It is an explicit contract, concluded orally. Example – X writes a letter to Y: “I suggest you sell my car for 1,00,000 DS.” He sent x a letter: “I`m ready to buy your car for 1,00,000 DS.” This is an explicit written contract. Pooja sharma Contract PowerPoint Template is a free PPT model for business contracts and agreements that you can download to decorate your PowerPoint presentations. Free contract PowerPoint model can be used for legal purposes, including the agreement written in the PowerPoint presentation and the explanation of a legal problem. 11 UNENFORCEABLE CONTRACT: – ILLEGAL AGREEMENT: – An illegal agreement is an illegal object. Such an agreement cannot be implemented by law. Thus, illegal agreements are always annigable from the beginning. Example: -X agrees to pay Y Rs 1,00,000 if Y Z kills. There actually kills Z and claims the Rs 1,00,000.
Now, Y cannot restore this X figure, because the agreement between X and Y is illegal, because its purpose is illegal. UNENFORCEABLE CONTRACT: – This is a contract that is actually valid, but cannot be applied due to a technical defect (z.B. unwritten, under the stamp). Such contracts can be implemented if the technical deficiencies associated with them are eliminated. Example- A verbal agreement for adjudicating proceedings is applicable because the law requires that an arbitration agreement be written. If the verbal arbitration agreement is reduced to the letter, it becomes enforceable. pooja sharma 3 No contract is required for an agreement. Necessity: – No contract required to reach an agreement.
But for a treaty, we still need a legal agreement. Legally binding: – An agreement is not legally binding for the contracting parties. But a contract is still legally binding for the parties. Concept: – the agreement is a broader approach and includes contracts. On the other hand, the contract is a narrow concept and it`s just some kind of agreement. pooja sharma 8 PARTLY EXECUTED AND PARTLY EXECUTORY CONTRACT: – This is a contract in which both parties still have to fulfil their respective obligations. Example: – X offers to sell his car to Y for 1,000 Rs. Y accepts the offer of X. If the car has not yet been delivered by X and the price has not yet been paid by Y, it is a contract of execution. PARTLY EXECUTED AND PARTLY EXECUTORY CONTRACT: – This is a contract by which one party has fulfilled its obligations and the other party has yet to fulfil its obligations. Example: – X offers to sell his car to Y for 1,00,000 Rs for a month.
Y accepts the offer of X. X delivers the car to Y. Here the contract is executed with regard to X and performance with regard to Y. pooja sharma FREE CONSENT In order to validate a contract, not only consent is required, but it should also be free. Under contract law, consent is deemed free if obtained. 9 Contract based on enforceable forceVALID CONTRACT: – A contract that fulfils all the conditions prescribed by law is a valid condition. Example: – X offers to marry Y. Y accepts the offer of X. This is a valid contract.
VOID CONTRACT:- A void contract is a contract that was valid, but was subsequently invalidated due to the impossibility of delivery, change in the law or for other reasons. Example: – X offers to marry Y. Y accepts the offer of X. Later, Y dies. This contract was valid at the time of its creation or formation, but it was cancelled by Y`s death.