BUSINESS & INDUSTRIAL LAW B.COM-II Facilitator: ASIF VAID SIR ADAMJEE INSTITUTE OF MANAGEMENT SCIENCES

4. POSSIBILITY OF PERFORMANCE ESSENTIALS OF A VALID CONTRACT 1. OFFER & ACCEPTANCE 2. LEGAL OBJECT Accepted Accepted Gave Offered his Bike for Rs.30,000 Mr. A Mr. B Offered Drugs worth Rs.50,000 Mr. A Mr. B SAIMS Offeror Offeree Contract is VOID With All the Details Illegal Object 3. LAWFUL CONSIDERATION Accepted 4. POSSIBILITY OF PERFORMANCE Govt. Officer Offered a Govt. Job for Rs.200,000 Mr. A Mr. A Offered to discover Gold by Magic Mr. B BRIBE UNLAWFUL Impossible to Perform Contract is VOID Contract is VOID CONSIDERATION Something in Return SIR ADAMJEE INSTITUTE OF MANAGEMENT SCIENCES

SAIMS ESSENTIALS OF A VALID CONTRACT 5. FREE CONSENT 6. CERTAINTY OF TERMS Accepted SAIMS Signs a Contract on gunpoint Offered his Car for Sale Mr. A Mr. B Mr. A Mr. B COERCION Contract is VOID Has 3 different Cars Which Car ? CONSENT Will / Wish UNCLEAR IS NOT FREE IF OBTAINED WITH: COERCION MISTAKE FRAUD Contract is VOID UNDUE INFLUENCE MISREPRESENTATION SIR ADAMJEE INSTITUTE OF MANAGEMENT SCIENCES SIR ADAMJEE INSTITUTE OF MANAGEMENT SCIENCES

SAIMS ESSENTIALS OF A VALID CONTRACT 7. CAPACITIES OF PARTIES 8. LEGAL OBLIGATION Accepted Accepted Offers to Sell his House for Rs.10 M SAIMS Mr. A Offered his Car for Rs.600,000 Minor Mr. A Mr. B Contract is VOID NOT CAPABLE FAILS TO FULFILL THE PROMISE CAN FILE A CASE ON MR.A CAPABLE NOT CAPABLE 9. WRITING NOT NECESSARY Accepted MAJOR MINOR Offered his Cell Phone for Rs.30,000 Mr. A Mr. B SOUND MIND UNSOUND MIND NOT DISQUALIFIED FROM ANY COURT OF LAW DISQUALIFIED FROM ANY COURT OF LAW ORAL OR WRITTEN SIR ADAMJEE INSTITUTE OF MANAGEMENT SCIENCES SIR ADAMJEE INSTITUTE OF MANAGEMENT SCIENCES