CLAT Legal-Aptitude Contract Law Revision (Page 4 of 5)
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Essential Elements of a Valid Contract
There are two kinds of offers.
- General offer - This offer is made to the public at large but the contract is signed only with the person who approaches and performs the conditions of the proposal to show his acceptance.… (115 more words) …
Persons of Unsound Mind
A person is said to be of sound mind if at the time of making contract, he is able to understand the effects of the contract on him. A person of unsound mind can indulge into a contract when occasionally… (75 more words) …
Grounds of Frustration
- Non-occurrence of a contemplated event
- Change of circumstances
- Destruction of the subject-matter.
- Intervention of war
- Government or legislative intervention
- Commercial hardship
- Death or incapacity of party
When the contract is being made and if one of the party has the power of dominating other and if he does so, then the consent is said to be obtained under influence.
‘A’, gave some money to his… (164 more words) …
Discharge of Contract
Sometimes it happens that the purpose for which contract is made, gets impossible to be done and the person gets frustrated. At the time, as a doctrine of this frustration, the person is excused from performing the contract. An agreement… (109 more words) …