{"id":371,"date":"2024-04-18T10:32:09","date_gmt":"2024-04-18T10:32:09","guid":{"rendered":"https:\/\/highlawgroup.in\/?p=371"},"modified":"2024-06-30T14:07:53","modified_gmt":"2024-06-30T14:07:53","slug":"type-of-contract-based-on-the-validity-enforceability","status":"publish","type":"post","link":"https:\/\/highlawgroup.in\/index.php\/2024\/04\/18\/type-of-contract-based-on-the-validity-enforceability\/","title":{"rendered":"Type of Contract. | based on the validity or Enforceability."},"content":{"rendered":"

\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 (A) On the basis of validity :-<\/h4>\n

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(1) Valid Contract :-<\/h5>\n

Two or more parties form a contract. A contract is valid when it satisfies all conditions required for enforceability by law.<\/p>\n

Section2(h) of\u00a0the\u00a0Indian\u00a0Contract Act\u00a01872<\/b> given that an agreement enforceable by law is a contract and an agreement becomes a valid contract when all the essential elements of a contract as laid down in section (10) of Indian Contract Act 1872 are fulfilled:-<\/p>\n

(a) Mede by the free consent of parties(b) Competent to contract(c) For a lawful Consideration\u00a0\u00a0(d) A lawful object<\/p>\n

Example\u2026\u2026\u2026\u2026\u2026\u2026\u2026<\/p>\n

All Notes:- https:\/\/highlawgroup.in\/index.php\/category\/lawnotes\/<\/a><\/p>\n

(2) Void Contract :-<\/h5>\n
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Section 2(j) of the Indian Contract Act 1872 describes a void contract as a contract without any legal effect. A contract that ceases to be enforceable by law becomes void when it is no longer enforceable. Section 2(g) of the Indian Contract Act 1872 explains that an agreement not enforceable by law is a void agreement.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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If an agreement is void then the contract is void.<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n

Ex:- Contract with a minor\u00a0Case:- Mhari Bibi Vs. Dharmadas Ghose(1903)<\/b>
\nIn this case, laid down that a Contract entered into with a minor is void ab-into, because not enforceable.<\/p>\n

(3) Voidable Contract:-<\/h5>\n
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Section 2(i) of the Indian Contract Act 1872 defines a voidable contract as: \u201cAn agreement which one or more parties can enforce by law at their option, but not at the option of the other party or parties.\u201d<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Example: A contract entered into through coercion, undue influence, fraud, misrepresentation, or mistake is voidable.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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