Indian Contract Act 1872 Section 72 - Law Dictionary Search Results
Home Dictionary Name: indian contract act 1872 section 72Void contract
Void contract, A contract which ceases to be enforce-able by law becomes void when it ceases to be enforceable. [Contract Act, 1872 (9 of 1872), s. 2(j)...
Wagering contract
Wagering contract, to constitute a wagering contract there must be proof that the contract was entered into upon terms that the performance of the contract should not be demanded, but only the difference in prices should be paid. There should be common intention between the parties to the wager that they should not demand delivery of the goods but should take only the difference in prices on the happening of an event, Gherulal Parakh v. Mahadeodas Maiya, AIR 1959 SC 781 (784); see also B&C Exchange Ltd. v. State of Punjab, AIR 1961 SC 268 (270). (Contract Act, 1872, s. 23)...
Voidable contract
Voidable contract, An agreement which is enforce-able by law after option of one or more of the parties thereto, but not at the option of the other or others, is a voidable contract.. [Contract Act, 1872 (9 of 1872), s. 2(i)]...
contract
contract [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com- with, together + trahere to draw] 1 : an agreement between two or more parties that creates in each party a duty to do or not do something and a right to performance of the other's duty or a remedy for the breach of the other's duty ;also : a document embodying such an agreement see also accept, bargain, breach, cause, consent, consideration, duty, meeting of the minds, obligation, offer, performance, promise, rescind, social contract, subcontract Uniform Commercial Code in the Important Laws section NOTE: Contracts must be made by parties with the necessary capacity (as age or mental soundness) and must have a lawful, not criminal, object. Except in Louisiana, a valid contract also requires consideration, mutuality of obligations, and a meeting of the minds. In Louisiana, a valid contract requires the consent of the parties and a cause for the contract in addition to c...
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 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)...
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....
freedom of contract
freedom of contract :a power or right to contract and freely determine the provisions of contracts without arbitrary or unreasonable legal restrictions esp. as guaranteed under the contract clause of Article I, Section 10 of the U.S. Constitution called also freedom to contract liberty of contract ...
Contract of service
Contract of service, and contract for services. A contract for services implies a contract whereby one party undertakes to render services. A contract of service implies relationship of master and servant and involves an obligation to obey orders in the work to be performed and as to its mode and manner of performance, Indian Medical Assocn v. V.P. Shantha, AIR 1996 SC 550....
Illegal contract
Illegal contract, an agreement to do any act forbidden either (1) by the Common Law, such as agreements to commit a crime or tort, or as for rent of lodging let for prostitution, Jennings v. Brown, (1842) 9 M&W 496; or for price of indecent picture, Fores v. Johnes. (1802) 4 Esp 97; or in prejudice to the administration of justice, Windhill Local Board v. Vint, (1890) 45 Ch D 351; or (2) by statute, as by hire of a room for a lecture in contravention of the Blasphemy Act, Cowam v. Milbourn, (1867) LR 2 Ex 230; but see Re Bowman, (1915) 2 Ch 447, or a contract by a servant of a local authority with such authority, in contravention of s. 193 of the (English) Public Health Act, 1875; also contracts in unreasonable restraint of trade; general restraint of marriage; trading with the enemy; compounding felonies; maintenance or champerty, etc. A breach of promise of marriage by a married man pending divorce after decree nisi may be actionable, Fender v. Mildmay, (1937) 53 TLR 885. Illegality ...
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