Contract Cases

In the simple words contract can be explained as an oral or written agreement enforceable by law. Without an agreement no contract can be made and for a contract there should be an offer and acceptance in the contract. The offer when accepted with the free consent becomes a valid contract.

Elements of contract:

  1. Offer
  2. Free consent
  3. Lawful Consideration
  4. Capacity of the parties
  5. Acceptance

An agreement is said to be valid contract when it consists of all the above mentioned elements. A valid contract is a contract which is made between two parties which are of sound mind and acquire the age of majority according to the law.

Example: A promises to sell his car for Rs. 70,000 and B agrees to buy the car at the mentioned price (Here A and B should be of more 18 years and of sound mind).

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