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04/15/23 1
Contract Basics
| Kiran (BS) Bettadapur |
04/15/23 2
Agreement?
Proposal (Offer)Proposal (Offer) AcceptanceAcceptance ConsiderationConsideration
Zero? (Nudum Zero? (Nudum Pactum)Pactum)
04/15/23 3
Valid Agreement?
LawfulLawful
04/15/23 4
Dinner Invitation?
StatementStatement No acceptanceNo acceptance
Assumed Assumed acceptance, if no acceptance, if no reply by...reply by...
04/15/23 5
Bank Heist
Free ConsentFree Consent
04/15/23 6
Car Dealership
Competent to Competent to ContractContract
04/15/23 7
Arms Export
Expressly Declared Expressly Declared VoidVoid
04/15/23 8
Criteria For Valid Contract
Agreement (Offer + Agreement (Offer + Acceptance + Acceptance + Consideration) with:Consideration) with:
Free ConsentFree Consent Parties Competent Parties Competent
to Contractto Contract Consideration = Consideration =
LawfulLawful Not Expressly Not Expressly
Declared VoidDeclared Void
Statutory Statutory Requirement: Requirement: Contract in Writing, Contract in Writing, e.g., MoA, Trust, e.g., MoA, Trust, Sale DeedSale Deed
Witnesses: Witnesses: Registration ActRegistration Act
04/15/23 9
Thank You!