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 CPT Chapter Nature of Contract

CA CPT Exam  

With Bharat Galani.Duration:5hrs 07min

Nature of ContractDuration (min:sec)
Introduction 
Introduction to CA-CPT Law00:59
Indian Contract Act 187205:12
What we will learn in Contract Act01:05
Overview of Contract01:16
What is Contract?22:22
5 Points to Contract21:30
What happens when we have a contract04:20
Types of Contract 
Types of Contract01:32
Basis Validity: Valid & Void Contract09:39
Basis Validity: Voidable Contract17:08
Void Vs. Voidable Contract05:30
Basis Validity: Illegal Contract11:19
Void vs. Illegal Contract12:28
Basis Validity: Unenforceable Contract02:02
Basis Formation: Express and Implied Contract10:47
Basis Formation: Tacit and Quasi Contract03:47
Basis Performance: Executed & Executory Contract06:55
Basis Performance: Unilateral & Bilateral Contract04:19
Summary Types of Contract01:12
Quiz04:53
Offer 
What is Offer?11:22
Express and Implied Offer03:31
General Offer06:32
Special and Cross Offer02:37
Counter and Standing Offer04:05
Essentials of Offer17:59
Offer vs. Invitation of Offer01:30
How Offer Lapses13:28
Acceptance 
What is Acceptance?03:05
Rules of Acceptance21:23
Communication of Offer & Acceptance15:54
Communication Revocation of Offer & Acceptance18:47
Summary Communication02:34
Quiz23:54
Brief Essential Elements of a Contract10:05
Conclusion02:30
Total5:07:31

Notes

Introduction to Contract Act
passed in 1872;
by the then British India in Indian Parliament;
extends to the whole of India except J&K;

Contract Coverage

Nature of Contract
Consideration
Other Essential elements of a valid contract
Performance of Contract
Breach of Contract
Contingent & Quasi Contract

Overview
What is contract?
Types of Contract
Offer
Acceptance
Communication
Essential Elements

Introduction to Contract Act
Do you think you are entering into contracts everyday?
Do you travel by bus, train or auto-rickshaw?
Do you use Gmail, FB or Yahoo?
Do you use mobile apps?
Do you go for shopping in your local supermarket?
Do you go to a school or college?
Do you go for tuition classes?
Do you purchase stationary, choclates, grocery, etc?

What is Contract?
2(h) Contract is an agreement enforecable by law.

2(e) Every promise or set of promises forming consideration for each other is an agreement.

A proposal when accepted becomes a promise.

2(a) when one person signifies to another
his willingness to do or to abstain from doing anything
with a view to obtaining the assent of that other
to such act or abstinence,
he is said to make a proposal

Contract: Basis Formation
Express Contracts – Spoken or Written

Implied Contracts – Implied by Law [No intention of Parties]

Tacit Contracts – Understood from the conduct of the parties

Quasi Contracts – Finder of Goods


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