Executory Contract - Law Dictionary Search Results
Home Dictionary Name: executory contract Page: 2 Page 2 of about 1,081 results (0.005 seconds)Immoral contracts
Immoral contracts, contracts founded upon considerations contra bonos mores, are void. Ex turpi contractu non oritur actio. But where a contract founded upon an immoral consideration has been executed, neither law nor equity will interfere to set it aside if both parties have been equally in fault, for in pari delicto potior est conditio defendentis.Yet a contract under seal, made in consideration of past seduction or cohabitation, can be enforced; not because it is binding in honour and conscience, for such a reason is not sufficient, but because it is a specialty (see CONTRACT), and has not been made for an executory consideration of an illegal nature. A covenant to pay money in consideration of future cohabitation is void, though under seal, Ayerst v. Jenkins, (1873) LR 16 Eq 275. See ILLEGAL CONTR-ACT....
accord
accord 1 : to bring into agreement 2 : to grant or give esp. as appropriate, due, or earned vi : to be consistent or in harmony NOTE: Accord in this sense is often used to introduce a case or an authority that accords with the case or authority just cited, as for example in a sentence like “… a decision based on equitable principles. Accord Smith v. Jones, 1 F.2d 2 (1900).” n 1 : agreement of opinion [both cases in ] 2 : a formal act of agreement : treaty [an economic ] 3 : an accepted offer by which the parties agree that a specified future performance will discharge in full an obligation when performed even though the performance is of less value than the original obligation ;also : the defense that an accord was agreed upon usually used in the phrase accord and satisfaction; called also executory accord compare composition, compromise, novation, satisfaction substituted contract at contract, transaction ...
Lunatic
Lunatic. By the (English) Mental Treatment Act, 1930 (20 & 21 Geo. 5, c. 23), s. 20, the word 'lunatic,' except in the phrase 'criminal lunatic' and in relation to persons detained as lunatics outside England, shall cease to be used in relation to any person of or alleged to be of unsound mind, and the words ''person of unsound mind,' 'person,' 'patient of unsound mind,' or 'of unsound mind,' or such other expression as the context may require are to be substituted in any enactment or document thereunder. See PERSON OF UNSOUND MIND. Mental Treatment Act, 1930 (20 & 21 Geo. 5, c. 23).The general principle governing contracts entered into by insane persons is laid down in The Imperial Loan Co. v. Stone, (1892) 1 QB 559. 'Where a person enters into a contract, and afterwards alleges that he was so insane at the time that he did not know what he was doing and proves the allegation, the contract is as binding on him in every respect, whether it is executory or executed, as if he had been sa...
Executory consideration
Executory consideration. A consideration which is to be performed after the contract for which it is a consideration is made. See CONSIDERATION....
Contract
Contract, an agreement between competent parties, to do or to abstain from doing some act. For numerous other definitions, see Chalmers's Sale of Goods Act, App. II., where it is said that the 'disposition of the best modern writers appears to be to define ' contract ' as an agreement enforce-able at law,' but contended that this definition seems rather too narrow.Every contract is founded upon the mutual agree-ment of the parties; the other essentials are legality, capacity (depending on age, mental ability, sex and status) a mutual identity of consent (consensus ad idem), and form. When an agreement is stated either verbally or in writing it is usually called an express contract; when the agreement is matter of inference and deduction, it is called n implied contract. (See IMPLIED CONTRACT.)Contract, which provides that the price includes the cost of the goods, the freight and the insurance premium for the transit, Halsbury's Laws of England, Vol. 3(1), para 253, p. 210.Contracts may...
Contract for sale of land
Contract for sale of land. The incidents of a contract for sale of land re regulated partly by statute and partly by the practice of conveyancers. A contract for sale of land must be in writing, (English) L.P. Act, 1925, s. 40. See FRAUDS, STATUTE OF. If the contract is a simple, unconditional, or open contract for sale of land, it is implied that the vendor is to make a good title to the land for an estate in fee simple free from incumbrances, Hughes v. Parker, 8 M & W 344. He is under an obligation to show a good title (in ordinary circumstances for the thirty years preceding the date of contract, see ABSTRACT), and to prove that title by sufficient evidence. the expenses of showing the title, i.e., the abstract, falls on the vendor and so also the expenses of production of material documents in his possession or in that of his trustees an mortgagees. The expenses of production for verification of those which are not in such possession are to be borne by the purchaser, (English) L.P....
Subject to contract
Subject to contract, does not mean 'subject to the approval by the parties' solicitors of a formal contract. On the other hand, the expression 'subject to contract' has by now acquired definite ascertained legal meaning of subject to the execution by the parties of a formal contract', Wilson v. Balfour, (1929) 45 TLR 606.Means subject to preparation and execution of a formal contract with respect to the transaction taking place between the parties, Coope v. Ridout, (1921) 1 Ch 291.Means that the broker is not to be deemed to have performed his duty until a binding contract has been entered into, Raymond v. Wootan, (1931) 47 TLR 606.Means that the matter remains in negotiation until a formal contract is settled and formal contracts are exchanged, Keppel v. Wheeler, (1927) 1 KB 577.Means the parties to contract have locus penitentiae until formal contracts are exchanged, Musson v. Maxley, (1936) 1 All ER 64.Subject to contract. See as to the meaning of these words in contracts for sale o...
Contract for work or service contract for sale of goods
Contract for work or service contract for sale of goods, the primary difference between a 'contract for work or service' and a 'contract for sale of goods' is that in the former there is in the person performing work or rendering service no property in the thing produced as a whole notwithstanding that a part or even the whole of the materials used by him may have been his property. In the case of a contract for sale, the thing produced as a whole has individual existence as the sole property of the party who produced it, at some time before delivery, and the property therein passes only under the contract relating thereto in goods used in the performance of the contract is not sufficient: to constitute a sale there must be an agreement express or implied relating to the sale of goods and completion of the agreement by passing of title in the very goods contracted to be sold. C.S.T. v. Purshottam Premji, (1970) 2 SCC 287 (290)...
Hire purchase agreement and contract for sale
Hire purchase agreement and contract for sale, a contract of hire-purchase is properly speaking a contract of hire by which the hirer is granted an option to buy but is not, as under a contract of sale, under a legal obligation to do so. The contract of hire-purchase is one of the variations of the contract of bailment, but it is a modern development of commercial life, and the rules with regard to bailments, which were laid down before any contract of hire-purchase was contemplated, cannot be applied simpliciter, because such a contract has in it not only the element of bailment but also the element of sale, Instalment Supply Ltd. v. S.T.O., (1974) 4 SCC 739: AIR 1974 SC 1105....
Contract of service and contract for service
Contract of service and contract for service, a 'contract for service' implies a contract whereby one party undertakes to render services e.g. professional or technical services, to or for another in the performance of which he is not subject to detailed direction and control but exercises profes-sional or technical skill and uses his own know-ledge and discretion. (See: Oxford Companion to law, p. 1134). A 'contract of service, implies relationship of master an servant and involves an obligation to obey orders in the work to be performed and as to its mode and manner of performance. (See: Stroud's Judicial Dictionary, 5th Edn., p. 540, Indian Medical Assn. v. V.P. Shantha, (1985) 6 SCC 651 (674). (Consumer Protection Act, 1986)...
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