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ACT,1872)
AGREEMENT S
Every promise and every set of promises forming a consideration for each other, is an AGREEMENT
AGREEMENT BY OR WITH PERSON INCOMPETENT TO CONTRACT(section 11) AGREEMENT ENTERED INTO THROUGH A MUTUAL MISTAKE OR FACT BETWEEN THE PARTIES(20) AGREEMENT, THE OBJECT OR CONSIDERATION OF WHICH IS UNLAWFUL OR IS PARTLY UNLAWFUL(23,24) AGREEMENTS MADE WITHOUT CONSIDERATION(25) AGREEMENTS IN RESTRAINT OF
AGREEMENTS ON RESTRAINT OF TRADE(27) AGREEMENTS IN RESTRAINT OF LEGAL PROCEEDINGS(29) WAGERING AGREEMENTS(30) IMPOSSIBLE AGREEMENTS(56)
AGREEMENT BY OR WITH PERSON INCOMPETENT TO CONTRACT As under section 11, A person who has not attained the age of majority or is of unsound mind or is disqualified by any law are incompetent to contract and the contract made by them is void-ab initio.
AGREEMENT ENTERED INTO THROUGH A MUTUAL MISTAKE OR FACT BETWEEN THE PARTIES When there is mutual mistake of both the parties the agreement is said to be void.
BILATERAL
UNILATERAL
AGREEMENTS MADE WITHOUT CONSIDERATION According to section 10 consideration is one of the essential elements of a contract. According to section 25, an agreement made without consideration is void
According to section 26, Every agreement in restraint of the marriage of any person other then a minor is void.
AGREEMENTS IN RESTRAINT OF LEGAL PROCEEDINGS According to section 28, the following two agreements amount to restraint of legal proceedings and are thus held to be void:-
WAGERING AGREEMENTS
Agreement by way of wager are void and no suit shall be brought for recovering anything alleged to be won an any wager. Such agreements are chance oriented and therefore completely uncertain.
IMPOSSIBLE AGREEMENT
According to section 56. Agreement to do an impossible act in itself is void.
INCOMPETENT PARTIES
MINOR
A PEARSON WHO HAS NOT ATTAINED THE AGE OF MAJORITY.
A PERSON WHO CANT UNDERSTAND THE TERMS OF CONTRACT OR CAN NOT TAKE A RATIONAL JUDGEMENT. A PERSON WHO IS NOT ALLOWED TO ENTER INTO ANY CONTRACT TO WHICH HI SI SUBJECT.
MINOR
According to section 3 of indian majority act,1875 A person is said to b major when:
When a guardian of minor is appointed under guardian and ward act, 1890 When minor property has passed under the superintendence of the court of ward In other cases
On completion of 18 years
UNSOUND MIND
According to section 12, A person is said to be of sound mind if at the time of making of contrct he is capable:To understand the terms of the contract To form a rational judgement os to its effects upon his intrests