important sections in contract law
TRANSCRIPT
Important Sections of Indian Contract Law
Section Particular Summary2a Offer/Proposal signifies to another his willingness to do or to abstain from doing
2b Acceptance/Promise another signifies his assent thereto
2d Consideration Act made by Promisee at the desire of the promisor
2e Agreement Every promise & every set of promises, forming the consideration
2g Void Agreement An agreement not enforceable
2h Contract An agreement enforceable by law
4 Communication of Offer communication of all terms
5 Time Limit For Revocation before acceptance
7 Rule for Valid acceptance all terms, communication, not a cross offer
9 Classification expressed/implied contract
10 Essentials of Contract sec 14 & two parties, consideration etc
11 Minor, incompetent Person void contract except where contract is for benefit of minor
12 Person of Unsound Mind void contract
13 Concent 2 or more agree at same term at same time
14 Free Concent concent not containt with sec 15 to 18 & 20 to 22
15 Coercion Void
16 Undue Influence one person in position to influence other- Void
17 Fraud giving wrong details - Void
18 Misrepresentation may be knowingly or unknowingly-Voidable
20 Bilatral mistake by both Party
21 By Law mistake in terms of law
22 Unilatral mistake made by only one party
23 Unlawfull Object/Consideration Void
24 Unlawfull in Part A part of contract is against law
25 No Consideration Void - Exceptions made out of love, gift deed etc
26 Restrain of Marriage Void
27 Restrain of Trade Void - with exceptions in case of sale of goodwill etc
28 Restrain of Legal Proceeding Void
29 Void for uncertainty in Terms Void
30 Wegerring Contract Void if for more than Rs 1000/-
31 Contigent Contract Parties are interested in the transaction other cause of betting
37 & 38 Performance of contract
39 Breach of contract
40 Persons Liable for/entitled to Performance
42 Laibility of Joint Promissor
59 & 61 Apropriacction of contract
Void/ Voidable Contracts
Mistake
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56 Impossibility of performance
62&63 Mutual Agreement
Lapse of Time
Operation of Law
39 Breach of contract
124 Contract of Indemnity
125 Right of Indemnity Holder
126 Contract of Guarantee
128 Surety's Liability
Discharge of Surety's Liability
130 By Notice of Revocation
131 Death
133 Creditor makes Variance in terms
134 Discharge of Principal Debtor (PD)
135 Composition with PD/extention of Time
141 Loss Of Security Deposited
142&143 Void Agreement
Right of Surety
140 Right to Subrogation
141 Right to claim security/ setoff/ share reduction
145 Right to indemnity
146 Right to contribution from co-surety
147 Exception to sec. 146
Right to share benefit of security
148 Bailment
149 Mode of Delivery
Duty of Bailor
150 Duty to disclose default in goods
158 Pay expenses
159 Indemnity for early termination
164 Indemnity for defective title
Rights of Bailor
153 Right to terminate
159 Demand goods
180 Sue against wrong-doer.
Duty of Bailee
151 Reasonable care
154 Not to make unauthorized use of goods
155-157 Mixing of goods
160 Duty to return goods
Discharge of contract
Special Contract
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163 Deliver any surplus to goods
Right of Bailee
164 Compensation for defective title
165 & 166 Return goods
180 Sue against wrong-doer
170 & 171 Particular and general lien
Right of Finder of goods
158 Recover expenses,rewards
169 Right to sale goods
172 Pledge
Right of Pawnee
173 &174 Retain the goods
175 Extraordinary expenses
176 Sue the powner
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Compiled by: Rohini Mishra
Contact at: [email protected]
Facebook id: www.facebook.com/mis.rohini