Law of Contract

• Introduction to Contract: Meaning of contract, important definitions (Sec.2a to Sec. 2j), valid essentials of contract, difference in agreement and contract, all contracts are agreements, but all agreements are not contracts.
• Classification of Contracts
• Proposal and Acceptance: Meaning of proposal, types, and legal rules as to the offer. Acceptance: legal rules, communication of offer and acceptance.

• Contractual capacity: Meaning, minors, effects, person of unsound mind: meaning, types and effects, persons disqualified by other laws.
• Free consent: Consent, consensus ad idem: meaning. Coercion: meaning, valid essentials, effects. Undue influence: meaning, essential elements. Fraud: meaning, essential elements. Misrepresentation: effects. Mistake: meaning, classifications (mistake of law and mistake of facts).
• Consideration: Meaning, legal rules, Doctrine of privity of contract and exceptions.

• Legality of object and consideration: When object and consideration considered unlawful, agreement opposed to public policy.
• Void agreements: meaning, types.
• Contingent contracts: Meaning, valid essentials, difference between wagering agreement & contingent contract.

• Performance of contract: Meaning, modes of performance, time as essence of contract, person entitled to demand performance, time, place and manner of performance.
• Discharge of contract: Meaning and modes of discharge of contract, types of breach of contract.
• Remedies for breach of contract: Suit for rescission of contract, suit for damages, suit for quantum merit, suit for specific performance, suit for injuction.

• Contract of Indemnity: Meaning, valid essentials, rights of indemnifier and indemnity holder.
• Contract of Guarantee: Meaning, valid essentials, “is guarantee a contract of uberrimae fidei”, kinds of guarantee, rights of surety, discharge of surety from liability.