Professional Documents
Culture Documents
Saroj Ghimire
For BBA KUSOM ONLY
TYPES OF CONTRACT
1. EXPRESS AND IMPLED
2. EXECUTED and EXECUTORY
CONTRACT
3. UNENFORCEABLE CONTRACT
4. VOID CONTRACT
5. VOIDABLE CONTACT
1. EXPRESS AND IMPLED
Word wrrtten or expression : express
By conduct: implied
2. EXECUTED: Performance happens at the
time of contract. Contract and performance
simultaneously
EXECUTORY: Performance to be done in the
future after entering into contract.
3. UNENFORCEABLE CONTRACT:
No enforceable due to non fulfilment of
requirements either lapse of limitation of
registration.
4. VOID CONTRACT
Section 13
A contract not enforced by law is void.
A void contract is an illegal contract.
Has no legal effect and does not give any
legal rights on the parties.
Circumstances of void contract
1. A contract prohibiting anyone from
engaging in any occupation, business or
trade which has not been prohibited by
current law.
Exception
(1) Contract prohibiting selling and buying of the
goodwill of any trade;
(2) A contract preventing partners from carrying
similar business or trade with other competitors
as long as the partnership continues.
(3) A contract preventing partners from
engaging in a similar trade or business for the
specified time or place after being separated
from the partnership
(4) Contract preventing employees for certain
period of time
Contracts prohibiting marriages other
than those prohibited by current law.
13(b)