Contract Law

By | August 9, 2018
Contract Law Notes And Study Material

The Indian Contract Act was enacted in 1872, and it came into force on September 1, 1872. This Act is based on English common law consisting of judicial precedents. The Act is not exhaustive as it does not deal with all the branches of the contract law, like contract relating to negotiable instruments, transfer of property, the sale of goods, partnership, insurance, etc.

Important articles and study material on Contract Law – Click on the link to Read

Unit 1: Introduction to the law of contract

Unit 2: Formation Of Contract:

  • Formation of Proposals and Agreements
  1. Offer- Types and Invitation to Treat
  2. Intention to Contract- essential?
  3. Communication
  4. Acceptance
  5. Revocation- Meaning and Modes
  6. Case Analysis: Carlill v. Carbolic
  7. Capacity to Contract

Unit: Consent of the parties

  • Meaning and ingredients of “Free Consent”
  • Effect of Coercion, Undue Influence, Fraud, Misrepresentation
  • Effect of Mistakes

Unit: Consideration to Contract

Unit: Limitations on freedom of contract

Unit: Formation of E-Contracts

  • Formation of contract by Click Wrap, Shrink Wrap and Via Exchange of E Mails
  • Jurisdictional Issues
  • UNCITRAL Model of Law on Electronic Commerce 1996
  • Information Technology Act, 2000
  • Contingent Contracts
  • Concept and Scope
  • Applicability to Options and Derivatives

Unit: Performance Of Contract And Discharge

Unit: Quasi Contracts And Claim For Compensation

  • Claim for necessaries
  • Reimbursement of person paying money due by another
  • Obligation of person enjoying the benefit of non-gratuitous act
  • Responsibility of finder of goods
  • Liability of person to whom money paid by mistake or under coercion

Unit: Consequences Of Breach Of Contract

Unit: Guarantee

  • Concept/Definition of Guarantee
  • Basic essentials for a valid guarantee contract
  • Nature, Duration & Termination of Surety’s liability
  • Various judicial interpretations to protect the surety
  • Co-Surety and manner of sharing liabilities and rights

Unit: Bailment

  • Bailment – Concept and Meaning
  • Bailment contracts in day to day life
  • Kinds of Bailment contract
  • Duties of Bailor and Bailee towards each other
  • Rights of Bailor and Bailee
  • Finder of goods as a Bailee

Unit: Pledge

Unit: Agency

  • Concept/Definition of Agency
  • Different kinds of Agent
  • Distinction between Agent & Servant
  • Various methods of creation of agency
  • Liability of the principal for acts of the agent including misconduct & tort

Unit: Specific Relief Act

Rescission of contracts

  • Cancellation of Instruments
  • Declaratory decrees
  • Preventive relief.

Unit: Partnership Act

  • Concept/ Definition of Partnership
  • Partnership & Private Limited Company : Advantages & Disadvantages
  • Properties of the Firm
  • Formation of Partnership
  • Test of Partnership
  • Partnership and other associations
  • Implied authority of a partner
  • Mutual Relationship between Partners
  • Registration of Firms
  • Effect of non-registration
  • Rights and duties of Partners
  • Kinds of partners
  • Minor as a partner
  • Relation of Partners to third parties
  • Admission & Outgoing of Partners
  • Registration & Dissolution of Partnership
  • Reconstitution of a firm

    1. Essential Elements of a Valid Contract
    2. Offer And Acceptance
    3. Capacity of Contract
    4. Types of Contract
    5. Free Consent
    6. Legality of Object
    7. Void Agreements
    8. Fraud, Misrepresentation and Mistake under Indian Contract Act
    9. Mistake
    10. Performance of Contract
    11. Promissory Estoppel – Meaning and Explanation
    12. Quasi Contract
    13. Contract of Indemnity
    14. Contract of Guarantee
    15. Surety’s Liability: Judicial Interpretation
    16. Pledge
    17. Law of Agency


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