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Contract Act 1972 - Coggle Diagram
Contract Act 1972
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Section - 2
- Section - 2b - proposal + signifies assent = Promise
- Section -2c - promisor and promisee
- Section- 2d - Consideration / when at the desire of the promisor->promise do/abstain to do something/promises/any other person -
- Section - 2e every promise/set of promises - forming consideration for each other is an Agreement
- Section- 2f Reciprocal Promises
- Section - 2a - Proposal - signifies to another willingness to do/abstain something -- with the view to obtain the assent to other person.
- It shall be Specific/General
- Carlil vs Carbolic Smoke Ball Co. (1893) / Intention to create legal relationship
- Harbhajan Lal Vs Haricharan Lal AIR 1925
- Proposal and Invitation to Proposal
- Harvey vs Facey 1893
- Mc pherson vs Appanna
- Proposal must be communicated / General Offer
- Lalman shukla vs Gaurdatta 1913
- Proposal is made with the intention of creating legal relationship
- Balfour vs Balfour 1919
- Macgregor vs Macgregor :
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Section - 3 Communication Acceptance and Revocation of Proposals By which he intents to communicates or something which has effect of communication
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Section - 6 Revocation how made ? - proposal is revoked -
- notice
- lapse of time (prescribed or reasonable)
- failure as to condition precedent
- Death/Insanity of proposer
Acceptance
Section - 7 Acceptance must be absolute
- It should be unqualified, which means it should come from free choice and will,
- An acceptance should be absolute,
- If any condition is made in the proposal, then it should be contented.
Section - 8 Acceptance by performing conditions or receiving consideration from reciprocal promise is acceptance of proposal
- Acceptance must be communicated (felthouse vs Bindley) / manner of communication important (Powell vs Lee 1908)
- Bordgen vs Metropolitian Railway Co 1877 offer made -> accepted /writing letter but kept in drawer -> thus no contract as acceptance in not transmitted.
- Absolute and Unconditional - (Hyden vs Welch)
- Provisional Acceptance - is not binding because of lack of acceptance - Samsudharan Pillai vs Pro Govt. of Madras 1947 prohibition against w/d did not have force of law - as no consideration to bind.
Section - 10 What agreements are contracts
- Free consent
- Parties competent to contract
- for a lawful consideration
- with a lawful object
- and are not expressly declared void
Section - 11 Who are competent to contract
- Major
- Sound Mind (Section - 12 Who is sound mind - capable of making rationale decisions as to his interest)
- Not disqualified by law from contracting
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