Void Agreement Under Contract Act

In such cases, the contract is cancelled if the promiser becomes ill, is disabled or even dies. (b) A and b agree to marry. Before the time set for the wedding. A goes crazy. The contract is not concluded. Neither party should have any other interest, except that the bet wins or loses. This distinguishes the insurance contract from a betting contract. Contract law in India is governed by the Indian Contracts Act 1872. However, the Contracts Act does not purport to codify all contract law, but it expressly preserves any commercial usurity or incident of a contract that is not inconsistent with the provisions of the Act.

Contract law is limited to the application of voluntary civil obligations. Contract law is not able to deal with the whole range of agreements, many agreements remain out of scope because they do not meet the requirement of a contract. Questionable contract [section 2(i)]): “An agreement applicable by law at the choice of one or more parties, but not at the choice of another or another, is a countervailable contract”. However, the contract remains good and enforceable, unless it is rejected by the injured party. (iv) Illegal dealing: a contract is illegal if it is prohibited by law; of such a nature that, if permitted, the provisions of a law would be nullified or fraudulent; either a violation of a person or property of another person, or the court considers it immoral or contrary to public order. These agreements are punishable. These are void-ab-initio. All illegal agreements are invalid agreements, but not all agreements that are not concluded are illegal. (v) Unenforceable contract: if a contract is essentially good but cannot be enforced by law due to a technical defect, an unenforceable contract is meant. These contracts are neither void nor questionable.3 .

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