LAW OF CONTRACT 1

Following included in All Modules :

• Glossary of Legal words
• Questions for Practice
• Marathi – Margadarshanatmak Prashna ani Uttare

Module 1  : Introduction to Contract Law

1.1 – The nature of contractual obligations
1.2 – Introduction to certain types of contracts and discussion about their parties, parties’ relative position, terms, remedies
1.3 – Enforcement – Primary purpose of contract law

Module 2 : Formation of Contract

2.1 – Agreement and Contract
2.2 – Proposal and Acceptance
a) Proposal – essential elements, forms, invitations for proposals and tenders, communication of proposal, floating offers, options
b) Acceptance – essential elements, forms, the requirement of communication, silence as acceptance
c) Revocation of proposal and acceptance
d) E-contracts with reference to provisions of the Information Technology Act, 2000.
2.3 – Express and implied terms, express and implied contracts
2.4 – Standard form contracts – their advantages and vices, and strategies to handle the vices
2.5 – Formalities – writing, signatures, attestation, registration, notarisation, stamp duty. Formalities of a contract with the government – Article 299 of the Constitution of India

Module 3 : Competency of Parties – Section 10 – 12 of ICA

3.1 – Age of majority under the Indian Majority Act 1875, contracts with minors, effect of contracting with a minor, the purpose of the law, liability for supply of necessaries: section 68 of ICA
3.2 – Soundness of mind for the purpose of making contracts, effect of unsoundness of mind on the contract
3.3 – Legal disqualification – examples: Section 75 of the Patents Act 1970, section 75 of the Indian Forests Act 1927, Section 130 of the Transfer of Property Act 1882
3.4 – Competency of prisoners in jail, married women, aliens, insolvents
3.5 – Competency of companies, statutory bodies, central and state governments

Module 4 : Free Consent – Sections 13 – 22, 64, 65, 67 of ICA

4.1 – Consent and free consent
4.2. – Coercion and its effect on the contract: sections 15 and 19 of Indian Contract Act, 1872
4.3. – Undue Influence and its effect on the contract, pardanashin women, unconscionable bargains: sections 16 and 19A of Indian Contract Act, 1872
4.4. – Misrepresentation and its effect on the contract: sections 18 and 19 of Indian Contract Act, 1872
4.5. – Fraud and its effect on the contract: sections 17 and 19 of Indian Contract Act, 1872
4.6. – Mistake, mutual and common mistake, unilateral mistake, mistake of law and fact, effect on the contract: sections 20 – 22 of ICA, section 26 of SRA
4.7. – Remedies available to the party whose consent is not free: rescission, restoration. Sections 19, 19A, 67, 64, 65 of ICA.Loss of right of rescission. Sections 25 and 28 of SRA

Module 5 : Consideration – Sections 2 (d) and 25 of ICA

5.1. – Definitions, meaning and importance, essential elements
5.2. – Act, forbearance and promise
5.3. – Present, past and future consideration
5.4. – Adequacy of consideration and effect of inadequacy
5.5. – No consideration, no contract; and exceptions to the rule

Module 6 : Void Agreements – Sections 23 – 30 of ICA

6.1. – Unlawful agreements, circumstances in which agreements enforced even if unlawful: sections 23-24, 57 – 58 of ICA, section 27 of SRA
6.2. – Void agreements: Restraint of marriage, trade and legal proceedings, uncertain agreements, wagers: sections 26 – 30 of ICA
6.3. – Effect of void and of unlawful agreements

Module 7 : Contingent Contracts and Quasi-Contracts

7.1. – Contingent contracts and their enforcement – sections 31 – 36 of ICA
7.2. – Quasi-contracts – sections 68 – 71, 73 (para 3) of ICA

Module 8 : Performance of Contract

8.1. – Obligation to perform or offer to perform; who must perform, effect of death, personal contracts, rights and liabilities under a contract: sections 37 – 41 of ICA
8.2. – Doctrine of privity, and exceptions to the doctrine
8.3. – Joint rights and liabilities: sections 42-45 of ICA
8.4. – Time of performance, right to terminate if time is of essence: sections 46-50, 55 of ICA
8.5. – Liability to pay interest for delay: under contract terms, under the Interest Act 1978
8.6. – Place of performance: sections 47-50 of ICA
8.7. – Reciprocal promises, effect of non-performance of one of reciprocal promises; unilateral and bilateral promises: sections 51 – 54 of ICA
8.8. – Appropriation of payments: sections 59-61 of ICA

Module 9 : Discharge of a Contract

9.1. – By performance; by offer of performance: sections 38 of the ICA
9.2. – By non-performance by one party: 54 of ICA
9.3. – By breach and rescission: sections 39, 53, 55 of ICA; anticipatory breach: section 39 of ICA
9.4. – Doctrine of impossibility and effect: section 56 of ICA
9.5. – By agreement: novation, alteration and rescission: section 62 of ICA
9.6. – By act of promisee: dispensing, remission and waiver, extension of time, accord and satisfaction: section 63 of ICA
9.7. – Termination or discharge under contract provisions

Module 10 : Contract Remedies 

10.1. – Remedies under contract law through court or arbitration
10.2. – Remedies of Specific Relief through court or arbitration under SRA

Module 11 : Contractual Freedom, Role of Contract Law, Interpretation of Contracts

11.1. – Role of contract law in general, and applicability of the Indian Contract Act, 1872, Contract law as default rules
11.2. – Remedies without intervention of court or arbitration – Introduction only of self-help remedies with examples- lien and retention, set-off, invoking bank guarantees, termination under contract provisions, right of sale without intervention of court
11.3. – Laws affecting contracts- laws affecting special contracts, regulatory laws, laws for protection of disadvantaged party
11.4. – Economic aspects of contract law, role and function of contract law in the growth of an economy and in the legal system
11.5. – Introduction to the rules of interpretation of contracts