6 IMPLIED CONTRACT: – The implied contract is a contract that is written or written in a different way than by words. It is the result of a person`s behaviour or the circumstances of the case. For example: – A transport company operates buses on different routes to transport passengers. It`s an unspoken offer from Transport Company. S takes a bus. This is a tacit acceptance by X. Now there is an unspoken contract and X is obliged to pay the prescribed rate. pooja sharma 8 PARTLY EXECUTED AND PARTLY EXECUTORY CONTRACT: – This is a contract in which both parties still have to fulfil their respective obligations. Example: – X offers to sell his car to Y for 1,000 Rs. Y accepts the offer of X. If the car has not yet been delivered by X and the price has not yet been paid by Y, it is a contract of execution. PARTLY EXECUTED AND PARTLY EXECUTORY CONTRACT: – This is a contract by which one party has fulfilled its obligations and the other party has yet to fulfil its obligations. Example: – X offers to sell his car to Y for 1,00,000 Rs for a month.
He accepts X. X`s offer to deliver the car to Y. In this regard, with regard to X and enforcement, with regard to Y. pooja sharma 9 contract on the basis of enforceable forceVALID CONTRACT: – A contract that fulfils all the conditions prescribed by law is a valid condition. Example: – X offers to marry Y. Y accepts the offer of X. This is a valid contract. VOID CONTRACT:- A void contract is a contract that was valid, but was subsequently invalidated due to the impossibility of delivery, change in the law or for other reasons. Example: – X offers to marry Y. Y accepts the offer of X.
Later, Y dies. This contract was valid at the time of its creation or formation, but it was cancelled by the death of Y. pooja sharma 3. Necessity: – No contract required to reach an agreement. But for a treaty, we still need a legal agreement. Legally binding: – An agreement is not legally binding for the contracting parties. But a contract is still legally binding for the parties. Concept: – the agreement is a broader approach and includes contracts. On the other hand, the contract is a narrow concept and it`s just some kind of agreement.
pooja sharma 2 difference between the agreement and the definition of the contract: – Any commitment and any set of promises that make respect for each other is an agreement. A legally applicable agreement is a contract. Establishment: – An agreement is established by accepting an offer. On the other hand, we need this agreement, which is legally applicable.