Law of Contracts

Unit I

Nature of contractual obligation · theories of contract · classification of contract · offer, acceptance and promise · Capacity of parties · disqualification by law · minority and mental incapacity · free consent · factors vitiating free consent · coercion · undue influence · fraud

• INTRODUCTION
• OFFER, ACCEPTANCE AND ITS COMMUNICATION
• Types of Contracts
• Competency of Parties
• Free Consent

Unit II

Consideration · definition · effect of contract without consideration · exceptions · intention to create legal obligations · Lawful object · void transactions · misrepresentation, mistake · Public Policy · agreement in restraint of trade, marriage and legal proceedings · uncertainties and wagering agreements

• Essential Ingredients for Enforceability (Sections 10 — 30)
• Consideration
• Unlawful Object and Consideration
• Void Agreements

Unit III

Discharge of contracts · performance of contracts · anticipatory breach · impossibility of performance · alterations and novation · accord and satisfaction · quasi contracts

• Performance of Contract
• Discharge of contract
• Breach of Contract

Unit IV

Remedies for breach · damages for breach · specific performance · rescission and cancellation · injunctions · declaratory remedies

• Types of Damages & Remedies for Breach
• KINDS OF RELIEF IN Specific Relief Act 1963
• Specific Performance of Contracts
• Recession of Contract
• Cancellation of instrument
• Declaratory Decree
• Injunctions

Unit V

E-Contracts · Benefits of E-contracting · Formation of E-contracts · Essentials of E-contracts · Problems relating to E-contracts · Different types of E-contracts · Relevant Provisions of the Information Technology Act