Need of Contract
A
Contract is an agreement between the parties this should not be confused by drafting of
pleading
on a certain matter or issue which is legally enforceable by law. The general
principles of contract under the Indian Contract act, 1872 lays down various
essentials need to be fulfilled for a valid contract, such as the
consideration, consent, etc. Primarily, there should be the offer and
acceptance for a contract. The important thing for a contract is the
consideration because without consideration or illegal consideration makes a
contract void and voidable. And another thing is the consent, it should be
obtained without fraud, coercion, undue influence etc. In case the contract
made of such actions leads to void and voidable to the option of the aggrieved
party to the contract. And also there are restrictions on the person who can
enter into the contract, such as minor, insane, intoxicated person can’t enter
into the contract as to the general principles is concerned. The contract made
by the child isvoid ab initio, which
means it is void from the beginning itself.
And also the object or for what the contract is also essential for the
enforceability because unlawful objects and consideration can make a contract
invalid. Addition to that agreement of restraining of marriage, legal
proceedings, trade which will be void in nature. The contract for the happening
of an event which is not going to happen, impossible events, gambling, wagering
is also considered to void because such things won’t happen and also the
probably matters. In a case of failing to fulfil the contract with the general
principles is not considerable as a contract and won’t have legal validity
won’t be enforceable and won’t bind the parties to the contract. If the
contract is fulfilled all the general principles of the contract, it binds the
parties and the aggrieved party for failing to act with respect to the contract
by the other party, can sue or can claim for the damages which caused to them
due to such actions.
Generally,
a contract is written agreement but sometimes oral contract also valid but
proving is very difficult and lies on the party who alleges it. There are
various benefits due to contract for the parties, firstly on the matter agreed
which will be expressed by the contract so parties later can’t go back from it
and it also rigid can’t change it, which binds on them. The contract clearly expresses the rights and
liabilities of the party so they can get to know by the contract itself no need
to get confused or can’t modify later on or can’t disagree. The contract also
binds the parties, so to the terms and conditions the parties need to act with
respect to the agreement none can back out disagree to the conditions or terms
agreed. It gives security and peaceful which means no need to get affair about
the matter which contracted because on failure have the right to sue and to get
compensation. It also plays a role in avoiding various illegal agreements or
promising on illegal matters because such things are not contracts won’t bind
the parties. And finally through contract can make the time frame which makes
more comfort for the parties to the contract. So it is very clear without
becoming an expert by learning from a contract
drafting course
no promises or terms can be made enforceable, perfect, safe, effective and it
plays a vital role in this business world. However, in 2020 there are various
ways to build skills using online law
course
become not just a practicing lawyer but an expert in this field.
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