General Law of Contract

Law of Contract

Meaning and definition of contract, Essential elements of valid contract, Classification of Contract, The law relating to contract in Nepal and features of contract Act, 2056

Offer and Acceptance

Meaning and Rules regarding offer, Revocation/ lapse of offer, Meaning and rules regarding acceptance, communication of offer and acceptance

Contractual Capacity

Meaning of contractual capacity, Legal effects of agreements made with an incompetent party (the minor and the person of unsound mind)

Consideration

Meaning and Rules regarding consideration, Exceptions to the general rule 'No consideration no contract'

Free Consent

Concept and importance of free consent, Meaning, and legal effects of contract caused by: Coercion, Undue influence, Misrepresentation, Fraud, Mistake

Legality of objective and consideration

Concept and importance of legality of objective and consideration, Conditions of unlawful agreement and void agreement.


Contingent Contract

Meaning and definition of contingent contract, Rule regarding contingent contract

Quasi Contract

Meaning and definition of quasi contract, Cases of quasi contract.

Performance of contract

Meaning and nature of performance of contract, who can demand performance of contract? Who should performance the contract?

Termination of Contrac

t Meaning of termination of contract, Modes of termination of contract.

Breach of Contract

Meaning and types of breach of contract, Remedies for breach of contract.

Notes

Meaning, Definition, Essential Elements and Classification of Contract

A contract is an agreement between two or more than two persons to do or not to do something which can be enforceable by law. Agreement= Offer/Proposal + Acceptance Contract= Agreement + Enforceability by law

Performance of contract

The performance of the contract means the fulfillment of respective promises by the concern parties as mentioned in the contract. As we already mentioned the possibility of performance is one of the essential elements of a valid contract, an agreement must be capable of being performed. Actual Performance: When a promisor made a propose of performance to the promisee and the propose has been accepted by the promisee, it is called actual performance, it is called actual performance. Attempted Performance: When promisor made an offer of performance to the promisee and offer has not been accepted by the promisee. It is called attempted performance.