Difference Between Void Agreement And Void Contract In Hindi

Contract law is not able to deal with the whole range of agreements, many agreements remain out of scope because they do not meet the requirement of a contract. A contract is an agreement; an agreement is a promise and a promise is an accepted proposal. Therefore, any agreement is the result of a proposal on the one hand and its adoption on the other. An agreement is considered a contract if it is enforceable by law. Section 10 of the Act deals with the conditions of third-party effectiveness, According to this section, an agreement is a contract if it is concluded in exchange for a certain consideration between the parties responsible for the contract, with free consent and for legitimate purposes. 2. Types of contracts on the basis of their validity: – i) Contract in force: an agreement that contains all the essential elements of a contract is designated as a valid contract. A valid contract may be enforced by law.

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