DR - Sangita Shirude B.Sc. (Statictics), LLM, MPM, PHD Research: Financial Management
DR - Sangita Shirude B.Sc. (Statictics), LLM, MPM, PHD Research: Financial Management
DR - Sangita Shirude B.Sc. (Statictics), LLM, MPM, PHD Research: Financial Management
Sangita Shirude
B.Sc.(Statictics), LLM, MPM, PhD
Research: Financial Management
LEGAL ASPECTS OF BUSINESS
Contract:
• Formation of contract
• Performance of contract
• Breach of contract
Formation of a contract
• Formation of a contract:
proposal…..acceptance of the proposal
promise Vs promise :
set of promises = (an agreement )
Quid pro quo = something for something
promisor and promisee
Sec:2(h) “An agreement enforceable by law is a contract.”
if Sec:10 is fulfilled, which lays down the essential conditions required for
a valid contract
Essential conditions for a valid contract Sec:10
1. Express Contract
a. Oral Contract
b. Written Contract
2. Implied Contract
3. Valid Contract
4. Void Contract
5. Voidable Contract
6. Contract in Fact
7. Contract in Law
8. Executed Contract
9. Executory Contract
10. Quasi Contract
11. Standard Form of Contract
12. Contingent contract
13. Wagering contract
14. Unlawful contract
15. Illegal contract
Proposal Sec:2(a)