Mumbai University > CIVIL > Sem 7 > Quantity survey Estimation and valuation

Marks: 5 M

Year: Dec 2013, Dec 2012

Essential of a Valid Contract:-

1. Parties Competent to contract- A person is competent to contract provided.

   a. He is of the age of majority according to the law to which he is subject.

   b. He is of sound mind.

   c. He is not disqualified from contracting by any law to which he is subject.

2. Free Consent of the Parties- Two or more persons are said to consent when they agreed upon the same thing in the same sense. Consent is said free when:

   a. It is not caused by fraud.

   b. It is not caused by misrepresentation.

   c. It is not caused by mistake. Where both the parties do an agreement under a mistake, the agreement is avoidable.

3. Definite proposal of the Parties- When one person signifies to another his willingness to do anything, he is said to make a proposal. The communication of a proposal is complete, when it comes to the knowledge of the person to whom it is made. The acceptance must be absolute unqualified and expressed in some usual and reasonable manner. Acceptance is made by performing conditions or receiving conditions.

4. The considerations or objects are lawful- The consideration or object of an agreement is said to be unlawful if forbidden by law or fraudulent or of such nature that, if permitted it would defeat the provisions of any law or involves or implies injury to the person or property of another or opposed to public policy or regarded as immoral by the court.
5. That the meaning shall be certain- Agreement the meaning of which shall be certain or capable of being made certain.