AContract is an agreement between the parties this should not be confused by drafting ofpleadingon a certain matter or issue which is legally enforceable by law. The generalprinciples of contract under the Indian Contract act, 1872 lays down variousessentials need to be fulfilled for a valid contract, such as theconsideration, consent, etc. Primarily, there should be the offer andacceptance for a contract. The important thing for a contract is theconsideration because without consideration or illegal consideration makes acontract void and voidable. And another thing is the consent, it should beobtained without fraud, coercion, undue influence etc. In case the contractmade of such actions leads to void and voidable to the option of the aggrievedparty to the contract. And also there are restrictions on the person who canenter into the contract, such as minor, insane, intoxicated person can’t enterinto the contract as to the general principles is concerned. The contract madeby the child isvoid ab initio, whichmeans it is void from the beginning itself. And also the object or for what the contract is also essential for theenforceability because unlawful objects and consideration can make a contractinvalid. Addition to that agreement of restraining of marriage, legalproceedings, trade which will be void in nature. The contract for the happeningof an event which is not going to happen, impossible events, gambling, wageringis also considered to void because such things won’t happen and also theprobably matters. In a case of failing to fulfil the contract with the generalprinciples is not considerable as a contract and won’t have legal validitywon’t be enforceable and won’t bind the parties to the contract. If thecontract is fulfilled all the general principles of the contract, it binds theparties and the aggrieved party for failing to act with respect to the contractby the other party, can sue or can claim for the damages which caused to themdue to such actions.
Generally,a contract is written agreement but sometimes oral contract also valid butproving is very difficult and lies on the party who alleges it. There arevarious benefits due to contract for the parties, firstly on the matter agreedwhich will be expressed by the contract so parties later can’t go back from itand it also rigid can’t change it, which binds on them. The contract clearly expresses the rights andliabilities of the party so they can get to know by the contract itself no needto get confused or can’t modify later on or can’t disagree. The contract alsobinds the parties, so to the terms and conditions the parties need to act withrespect to the agreement none can back out disagree to the conditions or termsagreed. It gives security and peaceful which means no need to get affair aboutthe matter which contracted because on failure have the right to sue and to getcompensation. It also plays a role in avoiding various illegal agreements orpromising on illegal matters because such things are not contracts won’t bindthe parties. And finally through contract can make the time frame which makesmore comfort for the parties to the contract. So it is very clear withoutbecoming an expert by learning from a contractdrafting courseno promises or terms can be made enforceable, perfect, safe, effective and itplays a vital role in this business world. However, in 2020 there are variousways to build skills using online lawcoursebecome not just a practicing lawyer but an expert in this field.
