CPT Chapter Nature of Contract

With Bharat Galani.Duration:5hrs 07min

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

CPT Exam Exposure

Take Quiz

Consideration

Introduction to Law

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