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LLB 3Y- STUDY MATERIAL

LLB 3Y-SEM 1 - Notes, previous Question papers and Repeated questions available here:

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Contracts 1-Assignment 1-Part A - Agreement

Agreement  1. Introduction An agreement is a mutual understanding between two or more parties regarding their rights and obligations. It is the foundation of a contract and is formed when one party makes an offer and the other accepts it. 📌 Definition : According to Section 2(e) of the Indian Contract Act, 1872 , an agreement is “every promise and every set of promises forming the consideration for each other.” 📌 Abbreviation & Meaning : Agreement (Agrmt.) : A negotiated and legally recognized understanding between parties. Contract vs. Agreement : Every contract is an agreement, but not all agreements are contracts. A contract becomes legally enforceable, whereas an agreement may or may not have legal binding. 2. Explanation For an agreement to be valid, it must include: ✅ Offer and Acceptance – One party must make an offer, and the other must accept it. ✅ Consideration – Something of value must be exchanged. ✅ Mutual Consent...

Contracts 1-Assignment 1-Part A - Voidable Contract

Voidable Contract 1. Introduction A voidable contract is a valid contract that one or both parties can either enforce or void due to certain legal defects. Unlike a void contract, which is unenforceable from the beginning, a voidable contract remains valid until it is legally rescinded by the affected party. 📌 Definition: According to Section 2(i) of the Indian Contract Act, 1872, a voidable contract is “an agreement which is enforceable by law at the option of one or more parties, but not at the option of the other(s).” 📌 Abbreviation & Meaning: Voidable Contract (V.C.): A contract that is initially valid but can be canceled under specific conditions. Void vs. Voidable: A void contract is legally unenforceable, whereas a voidable contract is enforceable unless the aggrieved party chooses to rescind it. 2. Explanation A contract may become voidable due to the following factors: ✅ Coercion – If one party forces the other to enter the cont...