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Sunday,18March2012
PrinciplesOf
Economics
PERSONDISQUALIFIEDFROM
CONTRACTINGBYANYOTHERLAW
Itreferstostatutorydisqualificationimposedoncertain
personinrespectoftheircapacitytocontract.
Getallinfoabout
EconomicsPrinciples
OfEconomics
1.Alienenemies.
Analieniscompetenttocontractwithcitizensofthe
indianlivinginIndia.Hecanmaintainasactionona
contractenterontobyhimduringpeacehimtime.Butifa
warisdeclared,analienenemycannotenterintoacontract
withtheIndiancitizen.Contractenteredintobeforethe
declarationofwarareeitherstayedorterminatedbut
contractintoduringthewarareunenforceable.
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2.Foreignsovereignsandambassadors.
Thesepersonareimmunefromthejurisdictionof
localcourts,unlesstheyvoluntarilysubmittoitsjurisdiction.
Thesepersonshavearighttocontractbutcanclaimthe
privilegeofnotbeingsued.Therulesregardingsuitsbyor
againstforeignsovereignsarelaiddowninsection84to87
ofCivilProcedureCode.
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ESSENTIAL
ELEMENTSOFA
VALIDCONTRACT
Allagreementsare
notcontracts.Only
thatagreements
whichis
enforceableatlaw
isacontract.An
agreementwhich
isenforceableat
law...
NO
CONSIDERATION
NOCONTRACT
EXCEPTIONS
Everyagreement
tobeenforceable
atlawmustbe
supportedbyvalid
consideration.An
agreementmade
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3.Insolvent.
Aninsolventcannotenterintoacontractashis
propertyvestsintheofficialreceiverorofficialassignee.
Thisdisqualificationofaninsolventisremovedafterheis
discharged.
7 7 4 8 3 7
6
4.Convict.
Aconvictwhileundergoingimprisonmentin
incapableofenteringintoacontract.Butthisdisability
comestoanendontheexpiryofthesentence.
5.Corporations.
ACorporationisanartificialpersonrecognisedby
law.Itexistsonlyintheeyesoflaw.Itiscompetenttoenter
intoacontractonlythroughitsagent.
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Businesslaw:PERSONDISQUALIFIEDFROMCONTRACTINGBYANYOTHERLAW
without
considerationis
voidandisu...
ESSENTIALSOFA
VALIDOFFER
1.Offermust
becapableof
creatinglegal
relations.The
offerormustintend
thecreationof
legalrelations.He
mustintendt...
RULES
REGARDING
MINOR'S
AGREEMENT
Aminor's
agreementbeing
voidiswholly
devoidofall
effects.Whenthere
isnocontractthere
shouldbeno
contractual
obligationon...
ESSENTIAL
ELEMENTSOFA
VALID
ACCEPTANCE
1.
Acceptancemust
beabsoluteand
unconditional.An
acceptancemust
beunconditional
andunqualified.
Acceptinganoffer
wi...
CLASSIFICATION
OFCONTRACTS
Contractsmaybe
classifiedonthe
basisoftheir:(a)
validity,(b)
formation,(c)
performance.A.
VAlidityor
EnfoceabilityV...
6.Marriedwomen.
Awomeniscompetenttoenterintoacontract.
Marriagedoesnotaffectthecontractualcapacityofa
women.Shecanevenbindherhusbandincasesof
pressingnecessity.Amarriedwomanmaysueorbesuedin
herownnameinrespectofherseparateproperty.
7.Professionalpersons.
Doctorsandadvocatesareincludedintheclass.In
englandbarristersareprohibitedbytheetiquettesof
theirprofessionfromsuingfortheirfees.
PostedbyShivamkumarat03:19
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ESSENTIALSOF
VALID
CONSIDERATION
1.Consideration
mustmoveat
desireofthe
promiser.Anactor
abstinencemust
havebeendoneat
thedesireofthe
promisoronly.Any
act...
CAPACITYOF
PARTIES
Foravalid
contract,the
partiestoa
contractmusthave
capacityi.e.
competenceto
enterintoa
contract.Every
personis
presumedtoha...
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VideoS
Contract
Theyaretwotype
ofessential
elementsofa
contract:An
Agreement.Its
enforceabilityby
law.Thesetwo
components
togetherc...
IMPORTANCEOF
CONSIDERATION
Considerationis
thefoundationof
http://shivamlawworld.blogspot.in/2012/03/persondisqualifiedfromcontractingby.html
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Businesslaw:PERSONDISQUALIFIEDFROMCONTRACTINGBYANYOTHERLAW
evercontract.The
lawinsistsonthe
existenceof
considerationifa
promiseistobe
enforcedascreat...
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FREE
CONSENT
PERSON
DISQUALIFIE
DFROM
CONTRACTI
NGBYANY
OTHER...
PERSONOF
UNSOUND
MIND
RULES
REGARDING
MINOR'S
AGREEMEN
T
MINOR
CAPACITYOF
PARTIES
NO
CONSIDERA
TIONNO
CONTRACT
EXCEPTION
S
IMPORTANCE
OF
CONSIDERA
TION
DIFFERENCE
BETWEEN
INDIANLAW
AND
ENGLISH
LAWREGA...
STRANGERTO
CONTRACT
STRANGERTO
CONSIDERA
TION
ESSENTIALS
OFVALID
CONSIDERA
TION
CONSIDERATI
ON
MODESOF
REVOCATIO
NOFOFFER
(SECTION6)
Effectofsilence
on
acceptance
ESSENTIAL
ELEMENTS
OFAVALID
ACCEPTANC
E
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