When the performance of the contract becomes impossible, the purpose, which the parties have in mind, is frustrated. If the performance becomes impossible, because of supervening event, the promisor is excused from the performance of the contract. This known as doctrin...
According to Section 12: 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 is capable of understanding it and of forming a rational judgment as to its effect upon his interests. A person, who is usually of un...
According to Section 31, a “contingent contract “is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen.” Thus the contract is dependent or conditional upon the happening or non-happening of a future event or con...
“All agreements are contracts, if they are made –
by free consent of the parties, competent to contract,
for a lawful consideration and
with a lawful object, and
not hereby expressly declared to be void.” – Sec.10.
1. Who is competent to make a contract:-
Section 11. Every person is competent to contract who is of age of majority according to the Law to which he is subject, who is of sound mind and not is disqualified from contracting by any Law to which he is subject.