Law of Contract

Meaning of contract, Important definitions (Sec.2a to Sec. 2j), Valid essentials of contract, Difference between agreement and contract, Classification of Contracts Proposal: Meaning of proposal, types, legal rules as to the offer, Invitation to proposal, Intention of proposal Acceptance: legal rules, communication of offer and acceptance, revocation of acceptance

Meaning, Minors (effects of minor’s agreements), Person of unsound mind (Meaning, types and effects), Persons disqualified by laws. Free consent: Consent, consensus ad idem, Coercion: Meaning, valid essentials, effects. Undue influence: Meaning, essential elements, effects. Fraud: Meaning, essential elements, effects, silence as fraud, exceptions. Misrepresentation: Types, effects. Mistake: Meaning, classifications (mistake of law and mistake of facts), effects. Consideration: Meaning, legal rules, contract without consideration is void, Doctrine of privity of contract and exceptions.

Circumstances when object and consideration considered unlawful, Agreement opposed to public policy. Void agreements: Meaning, Types. Contingent contracts: Meaning, Valid essentials, Rules as to the enforcement of contingent contract, Difference between wagering agreement & contingent contract.

Meaning, Modes of performance, Types of tender or offer, Essentials of a valid tender, Time as essence of contract, Person entitled to demand performance, Time, Place and
Manner of performance, Appropriation of payments. Discharge of contract: Meaning and modes of discharge of contract, types of breach of contract. Remedies for breach of contract: Suit for rescission of contract, suit for damages, suit for quantum meruit, suit for specific performance, suit for injunction.

Meaning and kinds. Specific Contracts: Contract of Indemnity: Meaning, valid essentials, rights of indemnifier and indemnity holder. Contract of Guarantee: Meaning, valid essentials, “is guarantee a contract of uberrimae fidei”, extent of surety’s liability, kinds of guarantee, rights of surety, discharge of surety from liability.