Contract by law

  • Essential elements of a valid contract

    Contract of sale

  • What is contract according to law?

    A contract is an agreement between two parties that creates an obligation to perform (or not perform) a particular duty.
    A legally enforceable contract requires the following elements, all of which are discussed in more detail below..

  • Which contract is created by law?

    So here we see that a quasi-contract is not agreed upon by the two parties but it comes into existence by a court order.
    It is thus enforced by the law which also creates it.
    Most of the times the quasi-contract is created to stop any of the parties from taking unfair advantage of the other..

What constitutes a legal contract?

A legal contract is a legally enforceable agreement between two or more parties.
It may be verbal or written.
Typically, a party promises to do something for the other in exchange for a benefit.
A legal contract must have a lawful purpose, mutual agreement, consideration, competent parties, and genuine assent to be enforceable.

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What is an example of a contract law case?

The case of Fisher v Bell is a contract case that is usually used to explain the difference between an invitation to treat and an offer.
In this case, the respondent, shopkeeper, displayed a knife with a price tag.
He was charged for offering to sale a knife contrary to section 1 (1) of the Restriction of Offensive Weapons Act 1959.

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What is the definition of contract law?

Contract law means an agreement between two or more parties creating obligations that are enforceable or otherwise recognizable at law.
A contract in law is a binding agreement between two parties that is legally enforceable.
Sections 2 (h), 10, 11, 14, 17 and 23 of the Contract Act,1872.


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