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    Mercantile Law

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    Roopasree
    1. The document discusses various topics related to contracts, including the definition of a contract, capacity of parties, coercion, validity of tenders, fraud, and performance or breach of contracts. 2. It defines a contract as a legally binding agreement between two or more parties that obligates each party to fulfill a promise or undertake an action. 3. Capacity of parties refers to each party's legal ability and mental competence to understand the terms of the contract and make the decision to enter into it. Minors, insane persons, and people under the influence would generally not have legal capacity.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Mercantile Law

    Uploaded by

    Roopasree
    31 views12 pages
    1. The document discusses various topics related to contracts, including the definition of a contract, capacity of parties, coercion, validity of tenders, fraud, and performance or breach of contracts. 2. It defines a contract as a legally binding agreement between two or more parties that obligates each party to fulfill a promise or undertake an action. 3. Capacity of parties refers to each party's legal ability and mental competence to understand the terms of the contract and make the decision to enter into it. Minors, insane persons, and people under the influence would generally not have legal capacity.

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    1. The document discusses various topics related to contracts, including the definition of a contract, capacity of parties, coercion, validity of tenders, fraud, and performance or breach of contracts. 2. It defines a contract as a legally binding agreement between two or more parties that obligates each party to fulfill a promise or undertake an action. 3. Capacity of parties refers to each party's legal ability and mental competence to understand the terms of the contract and make the decision to enter into it. Minors, insane persons, and people under the influence would generally not have legal capacity.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    31 views12 pages

    Mercantile Law

    Uploaded by

    Roopasree
    1. The document discusses various topics related to contracts, including the definition of a contract, capacity of parties, coercion, validity of tenders, fraud, and performance or breach of contracts. 2. It defines a contract as a legally binding agreement between two or more parties that obligates each party to fulfill a promise or undertake an action. 3. Capacity of parties refers to each party's legal ability and mental competence to understand the terms of the contract and make the decision to enter into it. Minors, insane persons, and people under the influence would generally not have legal capacity.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 12

    VIB Anokiaromal

    College Avts d Science


    Re-model Fxainoion Feb

    Rog No 90BccOu2 Do teJ.02.2022


    Name Poop 8ree A Sub: Merchondile
    low
    class n.B.CoM AJ-A
    Section A

    .eutonic o
    2182 SJ
    3. Proposal Ld
    Void L
    .Sormothing in votuvn cJ
    6.odhoTouda
    7 Cortyo 16
    2. 12 S6
    4. peno7oance a
    1o.tubeas tudion Sa J
    Seclion B

    11.a ContractE

    The oleinition o a coryac


    5On agreeroend betuween tuoo or
    more people to do s0mehing.
    An etample o corttrac oan

    0greerent betuoerrn b u e s ano


    CON
    &eleYs
    cordrocA wheYein each p o y
    B obna tao to i a prormise

    mooe ho he ponty and serti+ted


    tohe comp let1on o promise
    mooe by h Ohahprry
    The bront ouo ouang
    witR orool ngreermends between
    PandesACorrrot a leqal
    ogreernertt binding two pouies Rat
    dobinds hot coun ano ohot cannot
    be olon by dhe pardy
    12. OLLor
    Ar e 4Re c t shp in
    of Corthrocd,
    Pe ntormouion
    moks e begining cf Contrachual
    betuoeen Re poottes. Hs
    Obigohion
    known oact tho ac toptonce
    9
    Can On y be rocole tD a prioY ofhen,

    an obben esserio ox Re
    a conchract.
    ormocHon of

    kinds o Obers
    An o4ten Con be c many

    tupes, ronging acnosS fie spettyuuo.


    oe bousi cally kinols ol
    The
    berns
    Fxpress ofen
    lmplieol oben
    byeneroal olen
    pecitic obe
    Crocs oten
    t Coortar oe
    hondling ofe
    13.6) Capocty ob Pavtie

    Copoelty o Paoute relens t


    each pavty who s entring Eac
    Yequired by louo t bave e
    menct oul and ntellzctua) copocity to
    tundensand he tms b he contyact

    Oncd to make Re de cis ion to ertur it,

    Theveore, peope such ous mimoYs,

    +RDSe o reoncedmerdal actvity,


    and peoplk unden ARe Tnuence e
    drug DY olto hol toould hot bgaLly
    drug
    meet fe capaci y requYe d to
    ins wance Contra c
    enter 3nto an

    OtRen portus Consiolereo by

    lao to hawe no legal copaci ty


    raOE name on
    atne rade names.

    oon s considures to howe ho

    hawe
    lego a t u s and Rerehore
    o enter inbD
    ho leg a copac ny
    Convac
    Coer cion de
    Dnolue inwence
    Coercion Onolu nuence
    irwowes he Invoures moYal
    phueico torce o D menta presst e

    HPveodThe oggreivec
    porty is compelled

    to moke he onttac
    ogainc O
    +9naowes commfnd ND Such tlegal act
    OY 4Yeotening o 1
    commiHeol or
    Cormmit and, act +Rread given
    Horbioden by Induan
    penal coola or ddanind
    b Rxeoenung fD

    detoin ppoxhy unlauwl


    4O not necesovy ome sov o
    HRot Hhene must
    Yeladionship beruwean
    besome sovt o e patius Bs
    Yelachonship bdoonbso etel
    Hne parties. ne cesso
    kere Re consent
    Coey con nee r o t
    fnduceod by
    Re
    pro ceec o m
    dunouuenuence
    PooisOY nor ne
    he cortra ct
    be +Re divecteo)
    voidable
    agains h e promisa eithex
    Or he couc may
    se t osiole oY

    entorce 14 n a

    oe diteol tovm

    The is
    condra ct Tha cowt bos Ra
    voiodable ot+R duro chDn o oiect
    option c t e poty+Re cgqvoived
    tohose Consernt has pooty to e t u
    been obtaincol byHRe benekit in
    IRe coercion. oho le OY in

    give ony 6tuc


    ecions

    n case oCoereion
    ohaye tAe ordrae
    Yescinco by 9he
    aggyeivoo ppdcty as

    pen Seelion 644


    15.B) Valtd Teneler
    Naied Terde meors
    paksageo he Yevieo peruiod
    dauong ohith peniod, borroo e chall
    iers
    rot cYeate any concersua

    on he propeuty ano borrowen


    be beuome debtor
    Sholl hot OY

    n any bonkrupty prouedung or

    +Re &ubject any oPen 1nsow eng


    proteeoung
    Ecsentioals o /a licd Tenoder
    Tenoler must be uncondutional
    Tonden mus be maole aT

    O propen m e d place
    chanu o Adjudging
    cs Must be jor agred quanihy
    Ono uat y
    e Whole Obugation
    Should be made to Re
    propen promise

    Rasonable oppwtuniny h inpe


    SectionC
    16.a) Contrace

    Corhoc, în +he iroplst


    dotnition, a proroise onov teoble

    by lau The promuse noy be to do


    Something or ho rerain o m doing
    SometPing.

    Classificoion o Contracts

    Clossification

    Contract

    FovmocHion YeoranE
    Va lio cortracb Frpres
    coptct
    Veie cormo c Iroyalie ecuo
    Voidable corma ConTyad Onilt
    tluga ogreemen Ruos
    corthectB1lot ve
    Unenlor02able
    DVaRd Corhoct valio corroe
    Uonagroeroend enorcobe by
    Louo. Anogyeeent beLDmes entovcooe

    by lauo whan aU 4he esentfals


    a v o l i l conttach Cus lail in

    Seioo 10 ot ulilled

    Onentorceable tortracdt o
    Corta t which actualluy valid
    but cannot enovce ol betouse
    be

    some dechndcal eject.

    rpress corrhoacFrpros corcha


    ade by wDYds
    which is
    oOne
    n
    Spoken OT OY-Flen

    Freutory
    CorrhaeT a torchrat

    rto Re corttact
    Ohee both tRe parties
    tm thein
    U to pero
    hoe
    esppecive Dbkoaons
    Jeloioance o Contvact
    H.a
    Tha tovo Perhovoonce nlerthroc
    toeorns Poct botR, 4Reprornito
    and he promfs ee howe uliled
    respecive obugaions,whidh
    Re cordra c plated upon Rem

    Section Ihoian ortract Ad


    Satghot
    The pavtos to a Lonctra c
    eidRn perlorm, OY O to
    nuu
    peoo,1heir respecHve pomíses,
    un les 6uch petomone dipersed
    euued undeh Pe provisIons
    eo +R oY

    DtRen lau.
    ohis Mot, Dr any

    rorm ises bind +Re repres endatie

    Rhe pomuor in case cf HRe olad


    of Re lod en beore perorman ,
    un less o cordvory irlenton appeats

    in Retondrac
    Thus, HRa primahu cu o
    cat condyocing palt to eitReh
    pero or ofbei to perho tm 1
    phroo Lse Fo perormonce D be ellofive

    He Cours epect e era

    ono cormplete i.e, 1Pe Larne must

    tooctc6 +Ae corrhractual obugaions.


    Houoeven, OheYe unoan Hhe rovis1ons
    ohen
    heContrac At ev any

    louo he penhornance ca
    be dispensedl

    w i oY erusoo,a patnty is a bsowec


    bror guch a rosponsi6i uhy.

    Frampe
    A promn ise to de inven goools
    DBon a (etaun olay en poL ment

    10vo A expives beore tRe corihacle


    yepesontatves ae bound
    datu.
    dloven he qooos t B, anol B

    Epodrol t pay R. 1, boe


    epres entaive4.
    Ja.b Fraud
    Secion1 has delineo aud
    e
    yauol oeans înelu oles any of
    otlooing c c COmmiHeol by porh
    to acondyac, oY OtR Kis
    w1
    Connivance,ov by his ogont,
    Sntend to dicei/e anotRen paty

    Rereto hos agent, or tD induce him


    Conctra ct.
    to enter Inip +Re
    Fesenials:
    There oust be oulls represenltta
    acts.

    The represonioution muust hae


    Re
    been 0aole by he ponhy to
    Cortract or his agend.
    0gend.

    7herepreserdaton mus have

    made oidh an ntentton o


    been
    daoireh pken pany

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