Essential Elements of a Valid Indian Contract by upm97012

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									                        University College for Women, Koti.
                         B.Com (Computers) V Semester
                                  BUSINESS CONTRACTS

Paper Code No: 501                                             Duration: 2hr 30mts
Instruction: 4ppw                                              Marks: 50

Objectives: To acquaint the students with provisions of Indian Contract Act.

UNIT 1: LAW OF CONTRACTS
Definition- essential elements of a valid contract- classification of contract- offer-
acceptance, communication and revocation of offer- acceptant and revocation-
consideration- capacities of parties.

UNIT 2: CONSENT
Free consent- flaw in consent- coercion- undue influence- fraud- misrepresentation-
mistake- legality of objects- illegal agreements- immoral agreements opposed to public
policy.

UNIT 3: CONTINGENT CONTRACT
Performance of contract- various modes of discharge of contract- certain relation
resembling those created by contract- breach of contract- remedies for breach of
contract.

UNIT 4: SPECIAL CONTRACT
Contract of indemnity and guarantee- definition- distinction- rights and liabilities of
surety- discharge of surety- bailment contract- definition, distinction, essentials- rights
and duties of bailer and bailee- bailee lien- finder of lost goods- discharge of bailment
contract.

UNIT 5: AGENCY CONTRACT
Creation and termination of agency- various modes- types of agents- rights and duties of
agent and principal.


Suggested Readings:
   1. Indian Contract Act 1972.
   2. ND Kapoor, Elements of Mercantile Law, Sultan Chand & Sons, New Delhi.
   3. MC Shukla: Mercantile Law.
   4. E. Venkatesam: Hand book of Mercantile Law.
   5. Chawla & Garg: Mercantile and Industrial Law, Kalyani Publishers.
   6. Maheshwari and Maheshwari : Mercantile Law.
   7. Gulshan & Kapoor: Hand book of Business Law.

								
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