What agreements are contracts.â All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly…
Who are competent to contract.â Every person is competent to contract who is of the age of majority according to the law to which he is subject, and who is of sound mind, and is…
What is a sound mind for the purposes of contracting.â A person is said to be of sound mind for the purpose of making a contract, if, at the time when he makes it, he…
âConsentâ defined.â Two or more persons are said to consent when they agree upon the same thing in the same sense.
âFree consentâ defined.â Consent is said to be free when it is not caused byâ (1) coercion, as defined in section 15, or(2) undue influence, as defined in section 16, or(3) fraud, as defined in…
âCoercionâ defined.â âCoercionâ is the committing, or threatening to commit, any act forbidden by the Indian Penal Code (45 of 1860)or the unlawful detaining, or threatening to detain, any property, to the prejudice of any…
âUndue influenceâ defined.â (1) A contract is said to be induced by âundue influenceâ where the relations subsisting between the parties are such that one of the parties is in a position to dominate the…
âFraudâ defined.â âFraudâ means and includes any of the following acts committed by a party to a contract, or with his connivance, or by his agent, with intent to deceive another party thereto of his…
âMisrepresentationâ defined.â âMisrepresentationâ means and includesâ (1) the positive assertion, in a manner not warranted by the information of the person making it, of that which is not true, though he believes it to be…