BUSINESS LAW 1 (THE INDIAN CONTRACT ACT 1872) – For MU FY BCom Minor – Semester 2 | Roshini S. Punjabi (Kamra) | Nirali Prakashan

1. Indian Contract Act – 1872 Part – I

Ÿ   Contract — Definition of Contract and Agreement, Essentials of Valid Contract, Classification of Contracts.

Ÿ   Offer and Acceptance — Rules of valid offer and acceptance, Types of offer, distinguish between offer and invitation to offer. and Revocation of offer and acceptance (sec. 3,5).

Ÿ   Capacity to Contract (S. 10-12) — Minor, Unsound Mind, Disqualified Persons.

Ÿ   Consideration (S. 2 & 25) — Concept and Legal rules of Consideration, Exceptions to the Rule, ’No Consideration No Contract’ (Ss. 25) Unlawful Consideration (S 23).

2. Indian Contract Act – 1872 Part – II

Ÿ   Consent (Ss.13, 14-18, 39-53, 55, 66) – Agreements in which consent is not free – Coercion, Undue Influence, Misrepresentation, Fraud, Mistake.

Ÿ   Void Agreements (S. 24-30) — Concept, Void Agreements under Indian Contract Act.

Ÿ   Contingent Contract (S. 31), Quasi Contract (S.68-72), Concept of E-Contract & Legal Issues in formation and discharge of EContract. Concept of Performance of Contract (S 37).

Ÿ   Modes of Discharge of Contract, Remedies on breach of Contract (73-75).