Contract Law Semester 1
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Questions and Answers

What are the two main elements of a contract?

Agreement and consideration

Which of the following is NOT a type of injunction?

  • Perpetual
  • Temporary
  • Mandatory
  • Optional (correct)

A contract that is voidable can be set aside by either party to the agreement.

True (A)

What is the difference between a void contract and a voidable contract?

<p>A void contract is unenforceable from the beginning, while a voidable contract is valid but can be made void by one or both parties.</p> Signup and view all the answers

Match the following legal terms regarding contracts with their definitions:

<p>Agreement = A mutual understanding between parties to create a contract. Consideration = The price or value exchanged by parties for a promise. Capacity to contract = The ability to enter into a valid contract. Free consent = Consent freely given without undue influence, coercion, or fraud.</p> Signup and view all the answers

What is the difference between a contract without consideration and a contingent contract?

<p>A contract without consideration is unenforceable because it lacks the essential element of exchange, while a contingent contract is enforceable but its performance depends on the occurrence of a specific event.</p> Signup and view all the answers

Which of the following is an example of a contract in restraint of marriage?

<p>A contract prohibiting a person from marrying until they reach a certain age. (A)</p> Signup and view all the answers

What are the remedies available for breach of contract?

<p>Damages, specific performance, injunction, rescission, and restitution</p> Signup and view all the answers

A quasi-contractual obligation arises from a legally binding agreement between parties.

<p>False (B)</p> Signup and view all the answers

What is the main purpose of the Specific Relief Act?

<p>To provide legal remedies for enforcing specific contracts and preventing injustice in cases where monetary compensation is not sufficient.</p> Signup and view all the answers

The Specific Relief Act permits a court to order specific performance of any contract.

<p>False (B)</p> Signup and view all the answers

Flashcards

Contract

A legally binding agreement between two or more parties, creating mutual obligations.

Valid Contract

A legally binding agreement that creates a legal obligation for both parties.

Proposal

An offer made to a specific person or group, expressing willingness to enter into a contract.

Acceptance

The acceptance of a proposal, creating a binding contract.

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Consideration

Something of value exchanged between parties in a contract, which can be money, goods, services, or even a promise.

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Capacity to Contract

The ability to understand and enter into a contract, often based on age and mental capacity.

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Undue Influence

A situation where one party influences another to enter a contract unfairly, using their power or relationship.

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Misrepresentation

A false statement made by one party, which induces another to enter a contract, even if it's not intended to deceive.

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Fraud

Intentional deception made by one party to induce another to enter a contract.

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Mistake

A mistake made by one or both parties about the terms of a contract, which can make the contract voidable or void.

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Unlawful Consideration or Object

Something that is illegal or immoral, which can make a contract void.

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Void Agreement

A contract that has no legal effect and cannot be enforced, often due to a lack of essential elements.

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Voidable Agreement

A contract that is valid but can be made invalid by one of the parties, often because of issues like fraud or duress.

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Agreement in Restraint of Marriage

An agreement that restricts someone from marrying, usually considered void as it interferes with personal freedom.

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Agreement in Restraint of Trade

An agreement that restricts someone from working in a certain field or location, often considered void as it limits competition.

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Contingent Contract

A contract where the performance of one or both parties depends on the occurrence or non-occurrence of a future event.

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Wagering Contract

A contract based on gambling or chance, often considered void due to its uncertain outcome.

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Contractual Obligations

The legal responsibilities or duties that arise from a contract, enforced by law.

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Contractual Remedies

Legal solutions available to a party if the other party breaches a contract.

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Government Contracts

A contract made between a government and another party, often with specific rules and procedures.

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Study Notes

Contract Law - Semester 1

  • Unit I: Introduction to Contract

    • Focuses on the history, nature, and types of contracts.
    • Defines agreements and contracts, outlining essential elements.
    • Covers proposal, acceptance, and consideration.

  • Unit II: Capacity and Validity of Contracts

    • Discusses the capacity of individuals to enter into contracts.
    • Explores concepts like free consent, undue influence, misrepresentation, fraud, and mistake.
    • Examines unlawful considerations and objects in contracts, and fraudulent contracts

  • Unit III: Void and Voidable Agreements

    • Categorizes agreements as void or voidable based on legality and enforceability.
    • Identifies agreements injurious to persons or property, immoral agreements, contracts against public policy, void and voidable agreements.
    • Examines agreements without consideration, contracts in restraint of marriage or trade, contingent contracts, and wagering contracts.

  • Unit IV: Contractual Obligations and Remedies

    • Covers the obligations arising from contracts.
    • Outlines remedies for breach of contract, including damages.
    • Discusses the discharge and remoteness of damages, ascertainment of damages, government contracts, and quasi-contractual obligations.

  • Unit V: Specific Relief Act

    • Examines specific performance of contracts, focusing on contracts that can be specifically enforced and those that cannot.
    • Covers the enforcement mechanisms for certain contracts, including injunctions (temporary, perpetual, mandatory, obligatory) and declaratory decrees.
    • Outlines the available remedies through the Specific Relief Act, covering specific performance discretion of the court.

Bibliography

  • Includes various legal texts like Anson's Law of Contract, Atiya's Introduction to the Law of Contract, Avtar Singh's Law of Contract.
  • Refers to Pollock & Mulla on Indian Contract Act and the Specific Relief Act, Kailash Rai's works, and Dutt's Contract.

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Law Of Contract-I Syllabus PDF

Description

This quiz covers the fundamentals of Contract Law as introduced in Semester 1. It explores essential concepts including the history and types of contracts, capacity and validity, as well as void and voidable agreements. Assess your understanding of these core topics in contract theory and practice.

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