1. Valid Contract. An agreement enforceable at law is avalid
contract. an agreement becomes a contract when all the essentials of a valid
contract as laid down in section 10 are fullfilled. A offer to sell his house
for 5 lakh to B. B agrees to buy it for the price. it is a valid contract. A
contract to enter into a contract is however, not a valid contract.
2.Void Contract. An agreement which was legally enforceable when
entered into but which has become void due to supervening impossibility of
performance for example a contract between a citizen of pakistan and Indai is a
valid contract during pesce but if war brakes out between two countries, the
agreement will become void contract.
3. Void Agreements. According to section 2 (g), "An agreement
which is not enforceable by law bu either of the parties is void." No lagel rights or obligations can arise
out of a void agreemant. It is void ab initioi.e. from its very inception, for example an
agreement without consideration or with a minor.
4. Voidable Contract. According to Section 2 (i), "An Agreement
which is enforceable by law at the option of one or more parties but not at the
option of the other or others is a voidable contracts." Note that the word
used here is 'contract' and not just 'agreement'. Thus is the result of absense
of free consent in the contract. This is so because the rights and duties are
created and the was not free but was obtained by corecion, undue influence,
fraud, misrepresentation. The other party who include the consent take advantage
of his own fraud because "He who comes into Equity(i.e. before law) must
come with clean hands." Thus a voidable contractis valid and
enforceable until it is repudaited by the party entitled to avoid it.
5. Unenforceable Contracts. It is contract which is otherwise valid, but
cannot be enforced because of some technical defects likeabsence of a written
form or absence of a proper stamp. Such contracts cannot be proved in court.
6. Illegal Agreements. A contract which is either prohibited by law or
otherwise aganst the policyof law is an illegal agreement. It is void ab
initio. Thus, a contract to commit dacoity is an illegalcontractand cannot be
enforcad at law. An illegal contract should be distinguished from a void
contract. All illegal agreements are void but all void agreements or contract
are not necessarily illegal. Every void agreements is not illegal unless its
object or consideration is (a) immoral (b) opposed to public policy etc. A void
contract does not affect a collateral contract.
1. Valid Contract. An agreement enforceable at law is avalid contract. an agreement becomes a contract when all the essentials of a valid contract as laid down in section 10 are fullfilled. A offer to sell his house for 5 lakh to B. B agrees to buy it for the price. it is a valid contract. A contract to enter into a contract is however, not a valid contract.
2.Void Contract. An agreement which was legally enforceable when entered into but which has become void due to supervening impossibility of performance for example a contract between a citizen of pakistan and Indai is a valid contract during pesce but if war brakes out between two countries, the agreement will become void contract.
3. Void Agreements. According to section 2 (g), "An agreement which is not enforceable by law bu either of the parties is void." No lagel rights or obligations can arise out of a void agreemant. It is void ab initioi.e. from its very inception, for example an agreement without consideration or with a minor.
4. Voidable Contract. According to Section 2 (i), "An Agreement which is enforceable by law at the option of one or more parties but not at the option of the other or others is a voidable contracts." Note that the word used here is 'contract' and not just 'agreement'. Thus is the result of absense of free consent in the contract. This is so because the rights and duties are created and the was not free but was obtained by corecion, undue influence, fraud, misrepresentation. The other party who include the consent take advantage of his own fraud because "He who comes into Equity(i.e. before law) must come with clean hands." Thus a voidable contractis valid and enforceable until it is repudaited by the party entitled to avoid it.
5. Unenforceable Contracts. It is contract which is otherwise valid, but cannot be enforced because of some technical defects likeabsence of a written form or absence of a proper stamp. Such contracts cannot be proved in court.
6. Illegal Agreements. A contract which is either prohibited by law or otherwise aganst the policyof law is an illegal agreement. It is void ab initio. Thus, a contract to commit dacoity is an illegalcontractand cannot be enforcad at law. An illegal contract should be distinguished from a void contract. All illegal agreements are void but all void agreements or contract are not necessarily illegal. Every void agreements is not illegal unless its object or consideration is (a) immoral (b) opposed to public policy etc. A void contract does not affect a collateral contract.
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