Part-A
I
1. Public law deals with matters pertaining to rights of the individual versus the state, rights of the states versus centre .
private law deals deals with laws dat are applicable to and among individuals in society eg, transfer in property.
3.Void agreement -an agreement not enforceable by law.
4. Voidable contract- a contract which can be avoided or set aside at the option of the aggrieved party. An agreement which is enforceable by law at the option of one or more of the parties there to but not at the option of other or others. [sect 2(i)].
5. Illegal agreement an agreement is said to be illegal when the purpose or object for which it has been formed is based on committing a crime
6. Unenforceable contract- a contract which cannot be enforced in a court of law because of some technical defects.
Eg : no stamp
7. Implied contract-is one which is inferred from the act of conduct of the parties.
8. Executory contract- a contract in which both the parties have yet to perform their obligations.
Part-B
XVI. Ii. An agreement without consideration is void [accoridng to section 25] – what are the exceptions to this rule?
1. Consideration being one of the essential ingredients of a valid contract, as a general rule an agreement made without consideration is void and not enforceable
2. There are 7 exceptions to this rule and the exeptions are:
a) As per section 25 (1) an agreement made out of love and affection without any consideration is valid if it meets all the following conditions:
i. It must be expressed in writing
ii. It must be registered under the law of registration
iii. Made on account of natural love and affection
iv. It must be between parties who are near relations to each other
[(1) a agrees to pay his son’s debt to the son’s debtors
(2) a agrees to pay his quarrelling wife to stay away from him held not valid as the agreement was not for love and affection
(3) non written or non registered would also not be valid if registration is mandatory]
3. As per section 25 (2) an agreement to compensate for past voluntary service is valid even if there is no consideration
a rescued b from drowing. On returning home, ‘b’ promises to pay a rs 1000/- this is a valid contract though a had done it without any expectation. [ past consideration]
4. As per 25 (3) agreements to pay time barred debt is valid even without any fresh consideration
5. Explanation to section 25 (1) says a gift if already made by donor to donee shall be valid even without consideration
5. Explanation to section 25 (1) says a gift if already made by donor to donee shall be valid even without consideration
[in this case donee need not be a relative]
[i gave all my stamp / coin collections to a student in the college]
6. According to section 63 for remission or compromising a debt no consideration is necessary
[agreeing to extend time for repayment agreeing to close debt for a lower amount]
7. According to section 185 no consideration is required for executing an agreement of agency
No consideration required for making contributions to charity
III.consider the case of dunlop vs selfridge co
IV.sec 2(h)
VI. Sources of business law in india
VII What is meant by quasi- contract
a) Under the law of contracts obligations are voluntarily created upon each other by parties to the contract
b) In certain circumstances obligations may be created or imposed by law even without the existence of a contract
Such imposed obligations are called quasi- contractual obligations
d) Such obligations are imposed by courts on the equity pronciple that no man should grow rich at the cost of another
e) Quasi- contracts are not contracts, but the relationship or obligations resemble the relations/ obligations arising out of contracts
f) The 5 types of quasi-contractual obligations are outlined in sections 68 – 72 of the ica
VIII. Sec 2(d)
More short answers can be found from My Previous Post....
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