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Contract Law Enhanced

The document outlines the fundamentals of Contract Law in India, focusing on the Indian Contract Act, 1872. It details the essentials of a valid contract, types of contracts, breach of contract and remedies, along with important sections and case laws. Real-life examples illustrate the application of these concepts in practical scenarios.

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14 views1 page

Contract Law Enhanced

The document outlines the fundamentals of Contract Law in India, focusing on the Indian Contract Act, 1872. It details the essentials of a valid contract, types of contracts, breach of contract and remedies, along with important sections and case laws. Real-life examples illustrate the application of these concepts in practical scenarios.

Uploaded by

pandhare
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as TXT, PDF, TXT or read online on Scribd
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Contract Law - Class Notes

Subject: Law | Topic: Indian Contract Act, 1872


Prepared For: LLB / CLAT / Judiciary Exam Students

1. Introduction to Contract Law:


Contract Law is a branch of civil law which governs agreements enforceable by law.
In India, the Indian Contract Act, 1872 is the primary statute.
- Definition (Sec 2(h)): A contract is an agreement enforceable by law.
- Legal Provisions: Governed by Indian Contract Act, 1872.
- Purpose: To ensure that promises made by parties are legally binding and
enforceable.

2. Essentials of a Valid Contract (Sec 10):


- Offer and Acceptance: Clear proposal and its unambiguous acceptance.
- Intention to Create Legal Relations: Must not be social or domestic.
- Lawful Consideration: Something in return (quid pro quo).
- Capacity of Parties: Major, sound mind, not disqualified.
- Free Consent: No coercion, undue influence, fraud, misrepresentation, or mistake.
- Lawful Object: Purpose of the agreement must be legal.

3. Types of Contracts:
- By Validity: Valid, Void, Voidable, Illegal, Unenforceable.
- By Formation: Express, Implied, Quasi-contracts.
- By Performance: Executed, Executory, Unilateral, Bilateral.

4. Breach of Contract and Remedies:


- Types: Actual Breach and Anticipatory Breach.
- Remedies:
- Damages (General, Special, Nominal, Exemplary)
- Specific Performance
- Injunction
- Rescission

5. Important Sections & Case Laws:


- Sec 2(a–j): Definitions of proposal, acceptance, promise, agreement, contract,
etc.
- Case: Carlill v Carbolic Smoke Ball Co. (1893) – Introduced unilateral contracts.

6. Real-life Examples:
- Buying a mobile phone online (contract of sale).
- Freelance agreement between designer and client.

Note: Always refer to updated Acts and judgments while citing in exams or research.

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