संविदा निर्माण

Contract Formation

• A contract is a legally binding agreement between two or more parties. For a contract to be valid, certain essential elements must be present.
• Offer: A clear and definite proposal by one party (offeror) to another (offeree) to enter into a contract. It must be communicated and intended to create legal relations.
• Acceptance: A clear and unqualified agreement to the terms of the offer by the offeree. It must mirror the offer exactly (mirror image rule). Acceptance must be communicated to the offeror.
• Intention to create legal relations: The parties must intend their agreement to have legal consequences. Social or domestic agreements often lack this intention. Commercial agreements typically imply this intention.
• Consideration: Something of value exchanged between the parties. It can be money, goods, services, or a promise to do or not do something. Past consideration is not valid consideration.
• Capacity: The parties must have the legal capacity to enter into a contract. Minors, those lacking mental capacity, and those under the influence of drugs or alcohol may lack capacity.
• Legality: The contract's purpose and terms must be legal and not against public policy. Contracts for illegal activities or those that harm the public interest are unenforceable.

Types of Contracts

• Bilateral contracts involve mutual promises between the parties. Two promises being exchanged are essential.
• Unilateral contracts involve a promise in exchange for an act. Only one promise is given; performance by a party creates the contract.
• Express contracts are explicitly stated, whether orally or in writing.
• Implied contracts are created by the conduct of the parties, not by express words.
• Executory contracts are contracts that have not yet been fully performed.
• Executed contracts are completely performed by both parties.

Breach of Contract

• A breach of contract occurs when one party fails to fulfill its obligations under the contract without lawful excuse.
• Remedies for breach of contract include: damages (compensating the injured party), specific performance (requiring the breaching party to fulfill the contract obligations), injunctions (stopping the breaching party from certain actions), and restitution (returning the parties to their pre-contract position).

Contract Terms

• Express terms are those explicitly stated in the contract.
• Implied terms are not explicitly written but are necessary to give effect to the contract's purpose. They can include implied terms regarding quality, condition, or fitness for purpose.
• Conditions are essential terms that go to the root of the contract. Breach of a condition gives the innocent party the right to terminate the contract and claim damages.
• Warranties are less important terms that, if breached, give the innocent party the right to claim damages but not to terminate the contract.
• Exclusion clauses aim to limit or exclude a party's liability for breach. These clauses must be reasonable and clearly communicated.

Vitiating Factors

• Factors that can make a contract voidable or void include:
• Misrepresentation: A false statement of fact made by one party to induce the other party to enter into a contract.
• Duress: Coercion or threats used to force a party into a contract.
• Undue influence: Taking advantage of a position of trust or influence to persuade someone into a contract.
• Mistake: A misunderstanding about a crucial fact of the contract.
• Unconscionable conduct: One party taking advantage of another party's vulnerability in a way that is shocking to the conscience.

Discharge of Contracts

• A contract can be discharged in a number of ways, including:
• Performance: Both parties fulfill their obligations under the contract.
• Agreement: The parties mutually agree to end the contract.
• Breach: One party breaches the contract.
• Frustration: An unforeseen event makes the contract impossible or radically different from what was originally intended. Events like war, natural disasters, or death of a key party can lead to frustration.

संविदा एक कानूनी रूप से बाध्यकारी समझौता है। इस क्विज़ में, हम संविदा के निर्माण के आवश्यक तत्वों, जैसे प्रस्ताव, स्वीकृति, कानूनी संबंध बनाने की मंशा, और विचार पर ध्यान केंद्रित करेंगे। यह संविदा बनाने की प्रक्रिया को समझने के लिए महत्वपूर्ण है।