Podcast
Questions and Answers
Which circumstance does NOT lead to the discharge of a contract?
Which circumstance does NOT lead to the discharge of a contract?
- One party becomes willing to perform (correct)
- New legislation prevents performance
- The subject matter ceases to exist
- The act becomes unlawful
What is a valid reason for a contract to be discharged due to impossibility?
What is a valid reason for a contract to be discharged due to impossibility?
- The parties reach an agreement to modify the contract
- The performance timeline becomes extended
- The logistics of performance are inconvenient
- The subject matter is destroyed (correct)
Which of the following is an example of waiver in contract discharge?
Which of the following is an example of waiver in contract discharge?
- A party willingly relinquishing a right to perform (correct)
- A party failing to perform due to incapacitation
- A party's death before contract fulfillment
- A new law forbidding contract execution
Which situation would NOT result in the discharge of a contract?
Which situation would NOT result in the discharge of a contract?
Which action could lead to the discharge of a contract through novation?
Which action could lead to the discharge of a contract through novation?
What is required for an act to be considered fraudulent?
What is required for an act to be considered fraudulent?
In the context of contracts, what is a bilateral mistake?
In the context of contracts, what is a bilateral mistake?
Which statement best describes the role of an absurdly low price in a contract?
Which statement best describes the role of an absurdly low price in a contract?
What is a characteristic of voidable contracts?
What is a characteristic of voidable contracts?
Which type of contracts exists when terms are clearly stated and accepted?
Which type of contracts exists when terms are clearly stated and accepted?
What is a remedy for breach of contract where the promisee can end the contract?
What is a remedy for breach of contract where the promisee can end the contract?
What is the time limit for bringing an action for breach of contract under the Indian Limitation Act?
What is the time limit for bringing an action for breach of contract under the Indian Limitation Act?
Which remedy involves the court ordering a party to fulfill their contractual obligations?
Which remedy involves the court ordering a party to fulfill their contractual obligations?
What type of breach occurs when a party refuses to perform any part of their promise?
What type of breach occurs when a party refuses to perform any part of their promise?
What type of remedy allows for the correction of an error in a contract?
What type of remedy allows for the correction of an error in a contract?
What is the validity of a non-compete clause that restricts a seller from carrying on the same business anywhere in the world?
What is the validity of a non-compete clause that restricts a seller from carrying on the same business anywhere in the world?
How does the Law view restraining parties from taking legal recourse?
How does the Law view restraining parties from taking legal recourse?
In which situation does a contract become frustrated due to impossibility without default by either party?
In which situation does a contract become frustrated due to impossibility without default by either party?
What type of arbitration clause allows parties to select a court for dispute resolution?
What type of arbitration clause allows parties to select a court for dispute resolution?
What happens to a contract if a change in government policies makes its performance unlawful?
What happens to a contract if a change in government policies makes its performance unlawful?
Which of the following scenarios does NOT lead to a justified termination of a contract?
Which of the following scenarios does NOT lead to a justified termination of a contract?
What is the legal standing of a clause limiting the time period for legal recourse without adhering to the Limitation Act?
What is the legal standing of a clause limiting the time period for legal recourse without adhering to the Limitation Act?
Which of the following statements about restraining competition is true?
Which of the following statements about restraining competition is true?
Which of the following is NOT a condition for consent to be considered free?
Which of the following is NOT a condition for consent to be considered free?
What is a characteristic of coercion in contract law?
What is a characteristic of coercion in contract law?
What is an example of undue influence?
What is an example of undue influence?
Which element is required for an object of a contract to be valid?
Which element is required for an object of a contract to be valid?
What does the burden of proof lie on if a contract is deemed prima facie unconscionable?
What does the burden of proof lie on if a contract is deemed prima facie unconscionable?
In what scenario can consent in a contract be considered voidable?
In what scenario can consent in a contract be considered voidable?
What is the implication of a mistake in contract law?
What is the implication of a mistake in contract law?
Which of the following factors is NOT associated with coercion?
Which of the following factors is NOT associated with coercion?
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Study Notes
Consent and Its Validity
- Consent is voidable when it is not free, granting the affected party the option to rescind.
- Essential criteria for valid consent include identifiable act/product, measurable consideration, and identifiable parties.
- Contract performance must have identifiable place, time, and object.
Factors Affecting Consent
- Coercion involves threats, unlawful acts, or detainment to force entry into a contract.
- Undue influence occurs when one party uses authority or unfair advantage, often affecting mental capacity.
- Fraud includes actions meant to deceive, such as active concealment, false promises, and misrepresentation.
- Mistakes, whether bilateral or unilateral, in fact or law can render a contract voidable.
Types of Contracts
- Valid, void, and voidable contracts are defined, with distinctions in enforceability.
- Contracts formed online must still adhere to traditional contract law principles, where terms must be clear.
- Restraint of legal proceedings clauses are void if they restrict legal recourse unreasonably.
Frustration of Contracts
- Contracts may become void if the subject matter is destroyed or if performance is rendered impossible without party default.
- Changes in government policies can make contracts unlawful and void.
Discharge of Contracts
- Contracts can be discharged through various means: performance, death, impossibility, waiver, or mutual agreement.
- Unlawful acts or legislative changes can prevent performance leading to discharge.
Breach of Contract and Remedies
- Breach occurs when a promisor fails to fulfill their promise, allowing the promisee to end the contract.
- Remedies for breach include:
- Damages: monetary compensation for losses.
- Specific performance: enforcement of the contract's terms.
- Injunctions: court orders restricting certain actions.
- The Indian Limitation Act sets a period of three years from the date of breach to initiate legal action.
Case References
- The case of Chwee Kin Keong & ors v. Digilandmall.com Pte Ltd discusses contractual mistakes regarding absurdly low prices.
- McDermott International Inc. v. Burn Standard Co. highlights breach of contract implications and remedies.
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