14. “Free consent” defined. Consent is said to be free when it is not caused by- (1) coercion, as defined in section 15, or (2) undue influence, as defined in section 16, or (3) fraud, as defined in section 17, or (4) misrepresentation, as defined in section 18, or (5)Read…
As per section 10 of the Indian Contract Act, free consent of all the parties to a contract is one of the essential elements of a valid contract.Read…
182. “Agent” and “principal” defined. An “agent” is a person employed to do any act for another, or to represent another in dealing with third persons. The person for whom such act is done, or who is so represented, is called the “principal“. Law Note: Contract of Agency – Characteristics,Read…
201. Termination of Agency. An agency is terminated by the principal revoking his authority, or by the agent renouncing the business of the agency; or by the business of the agency being completed; or by either the principal or agent dying or becoming of unsound mind; or by the principalRead…
The features or characteristics of a contract of agency can be learnt from sections 183 to 185 of the Indian Contract Act.Read…
189. Agent’s authority in an emergency. An agent has authority, in an emergency, to do all such acts for the purpose of protecting his principal from loss and would be done by a person or ordinary prudence, in his own case, under similar circumstances. Illustrations- (a) An agent for saleRead…
185. Consideration not necessary. No consideration is necessary to create an agency. Law Note: Contract of Agency – Characteristics, Formation and Termination Read Contract Act in a systematic way. Download beautiful, mobile-friendly Contract Act PDF.Read…
184. Who may be an agent. As between the principal and third persons, any person may become an agent, but no person who is not of the age of majority and sound mind can become an agent, so as to be responsible to the principal according to the provisions inRead…
183. Who may employ agent. Any person who is of the age of majority according to the law to which he is subject, and who is of sound mind, may employ an agent. Law Note: Contract of Agency – Characteristics, Formation and Termination Read Contract Act in a systematic way.Read…
10. What agreements are contracts? All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void. Nothing herein contained shall affect any law in force inRead…
25. Agreement without consideration, void, unless it is in writing and registered or is a promise to compensate for something done or is a promise to pay a debt barred by limitation law. An agreement made without consideration is void, unless- (1) It is expressed in writing and registered under theRead…
The essential elements or necessary conditions of an agreement to become a valid contract are: 1. More than one party. 2. Agreement…Read…
Section 4 of the Indian Contract Act talks about ‘Communication When Complete.’ This Contract Act law note briefly tells you more about it.Read…
1. The person who delivers the goods (movable property) is called the bailor.
2. The person to whom the goods are delivered is called the bailee.
3. And the contract between the bailor and bailee is called the contract of bailment.
The contract of bailment is created only about movable property.Read…
1. Short title.
This Act may be called be the Indian Contract Act, 1872.
Extent, commencement- It extends to the whole of except the State of Jammu and Kashmir; and it shall come into force on the first day of September, 1872.
Enactment repealed:
Saving- Nothing herein contained shall affect the provisionsRead…
3. Communication, acceptance and revocation of proposals.
The communication of proposals, the acceptance of proposals, and the revocation of proposals and acceptance, respectively, are deemed to be made by any act or omission of the party proposing, accepting or revoking, by any act or omission of the party proposing, acceptingRead…
