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Important Sections of Indian Contract Law

Section Particular

Summary

2a
2b
2d
2e
2g
2h

Offer/Proposal
Acceptance/Promise
Consideration
Agreement
Void Agreement
Contract

signifies to another his willingness to do or to abstain from doing


another signifies his assent thereto
Act made by Promisee at the desire of the promisor
Every promise & every set of promises, forming the consideration
An agreement not enforceable
An agreement enforceable by law

4
5
7
9
10
11
12
13
14

Communication of Offer
Time Limit For Revocation
Rule for Valid acceptance
Classification
Essentials of Contract
Minor, incompetent Person
Person of Unsound Mind
Concent
Free Concent

communication of all terms


before acceptance
all terms, communication, not a cross offer
expressed/implied contract
sec 14 & two parties, consideration etc
void contract except where contract is for benefit of minor
void contract
2 or more agree at same term at same time
concent not containt with sec 15 to 18 & 20 to 22

15
16
17
18
20
21
22

Void/ Voidable Contracts


Coercion
Undue Influence
Fraud
Misrepresentation
Mistake
Bilatral
By Law
Unilatral

Void
one person in position to influence other- Void
giving wrong details - Void
may be knowingly or unknowingly-Voidable
mistake by both Party
mistake in terms of law
mistake made by only one party

23
24
25

Unlawfull Object/Consideration
Unlawfull in Part
No Consideration

Void
A part of contract is against law
Void - Exceptions made out of love, gift deed etc

26
27
28
29

Restrain of Marriage
Restrain of Trade
Restrain of Legal Proceeding
Void for uncertainty in Terms

Void
Void - with exceptions in case of sale of goodwill etc
Void
Void

30
31

Wegerring Contract
Contigent Contract

Void if for more than Rs 1000/Parties are interested in the transaction other cause of betting

37 & 38
39
40
42
59 & 61

Performance of contract
Breach of contract
Persons Liable for/entitled to Performance
Laibility of Joint Promissor
Apropriacction of contract

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39

Discharge of contract
Impossibility of performance
Mutual Agreement
Lapse of Time
Operation of Law
Breach of contract

124
125

Special Contract
Contract of Indemnity
Right of Indemnity Holder

126
128

Contract of Guarantee
Surety's Liability

56
62&63

130
131
133
134
135
141
142&143

Discharge of Surety's Liability


By Notice of Revocation
Death
Creditor makes Variance in terms
Discharge of Principal Debtor (PD)
Composition with PD/extention of Time
Loss Of Security Deposited
Void Agreement

140
141
145
146
147

Right of Surety
Right to Subrogation
Right to claim security/ setoff/ share reduction
Right to indemnity
Right to contribution from co-surety
Exception to sec. 146
Right to share benefit of security

148
149

Bailment
Mode of Delivery

150
158
159
164

Duty of Bailor
Duty to disclose default in goods
Pay expenses
Indemnity for early termination
Indemnity for defective title

153
159
180
151
154
155-157
160

Rights of Bailor
Right to terminate
Demand goods
Sue against wrong-doer.
Duty of Bailee
Reasonable care
Not to make unauthorized use of goods
Mixing of goods
Duty to return goods

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163

164
165 & 166
180
170 & 171

Deliver any surplus to goods


Right of Bailee
Compensation for defective title
Return goods
Sue against wrong-doer
Particular and general lien

158
169

Right of Finder of goods


Recover expenses,rewards
Right to sale goods

172

Pledge

173 &174
175
176

Right of Pawnee
Retain the goods
Extraordinary expenses
Sue the powner

Compiled by: Rohini Mishra


Contact at: rohinimishra2008@gmail.com
Facebook id: www.facebook.com/mis.rohini

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