Contract – 1

Objectives

Contracts are at the basis of the majority of transactions, especially transactions dealing with property. Whether the transaction is in the ordinary course of life or in the electronic world (e-commerce), the general principles governing contracts remain the same. For this reason, it is very important to introduce the students to the basic principles governing contracts and lay a powerful foundation for their study of other transactional and related laws in subsequent semesters.

Course Contents

UNIT – I

Formation of Contract
Agreement and Contract
Definitions
Classification
Offer and Acceptance
Communication
Revocation
Essential Elements
Invitation to Offer
Tenders
Consideration
Nudum Pactum
Essential Elements of Consideration
Privity of Contract and of Consideration
Exceptions
Unlawful Consideration and its Effect
E-Contract

UNIT – II

Capacity to Contract
Minor’s Agreements and its Effects
Agreements of Persons of Unsound Mind and Persons Disqualified by Law

Free Consent

Coercion
Undue Influence
Misrepresentation
Fraud
Mistake

UNIT – III

Modes of Discharge of Contracts

Time and Place of Performance
Performance of Reciprocal Promises
Appropriation of Payments
Discharge by Agreement
Operation of Law
Frustration (Impossibility of Performance)
Discharge by Breach (Anticipatory and Actual)

UNIT – IV

Remedies for Breach of Contracts

Damages
Kinds of Damages
Remoteness of Damages
Ascertainment of Damages
Quasi Contracts

UNIT – V

The Specific Relief Act

Sections 9–16
Section 21
Section 24
Sections 36–42

Topics

Nature of Specific Relief
Recovery of Possession of Movable and Immovable Property
Specific Performance (When Granted and When Not Granted)
Who May Obtain Relief and Against Whom
Discretionary Remedy
Power of Court to Grant Relief
Rectification of Instruments
Cancellation
Declaratory Decrees
Preventive Relief
Temporary Injunctions
Perpetual Injunctions
Mandatory Injunctions