The term «contract» as defined in section 2(h) of the Indian Contract Act, 1872, is defined as a «legally enforceable agreement». The definition contains two main elements «agreement» and «applicable by law», which must be well understood. Although this is not really part of the taxonomy of contracts (i.e. the ordered classification of the subject), it is worth highlighting here an aspect of contractual or even legal terminology. Suffixes (the fine syllables of words) in the English language are used to express the relationships between parties in legal terminology. Here are examples: An explicit treatyA contract in words, orally or in writing. is an expression in which terms are directly displayed. The parties to an explicit contract, whether written or oral, are aware that they are entering into an enforceable agreement. For example, an agreement to buy your neighbor`s car for $US 5,500 and take back the title next Monday is an explicit contract. In addition to the above-mentioned classification, there are other types of contracts. Contingent Contract is a guy like this.
Example: an agreement concluded by a minor. Contract not applicable: an agreement applicable by law by the opening of one or more contracting parties, but not on the opening of the other or of another, is a contract not applicable. Illegal agreement: An illegal agreement is an agreement that opposes a law that is enforced in Bangladesh. An agreement that has the effect of infringing one or more parties to law, public order or social morality is considered illegal by the court. Illegal contracts are considered invalid and unenforceable by law. Section 2(g) of the Act defines it as an agreement that is not enforceable by law and is deemed unen enforceable. Illicit contracts are from the outset (from the beginning or from the beginning) and are punishable because of the criminal aspects of illicit treaties. The most discussed classification among the most cited above is that of contracts based on applicability.
A quasi-contract (implicit in the law) A contract that is imposed on a party if there were none to avoid unjustified enrichment. Unlike explicit and tacit contracts that embody a real agreement between the parties, it is an obligation called «imposed by law» in order to avoid unjustified enrichment of one person to the detriment of another person. A quasi-contract is not a contract at all; It is a fiction that the courts have created to avoid injustice. Suppose the local woodlot accidentally provides a cargo of wood to your home where you are repairing your bridge. It was a neighbor on the nearest block who ordered the wood, but you gladly accept the load for free; Since you`ve never spoken to the wood warehouse, you think you don`t have to pay the bill. Although it is true that there is no contract, the law implies a contract on the value of the material: Of course, you have to pay for what you received and took. The existence of this tacit contract does not depend on the intention of the parties. Some contracts are written, others orally; some are explicit, others are not. As contracts can be formed, expressed and applied in various ways, a taxonomy of contracts has developed, which is useful for grouping legal consequences. As a general rule, contracts are classified according to four different dimensions: explicit, reciprocity, enforceability and degree of completion.
Notification is the extent to which the agreement is obvious to those who are not contracting parties. Reciprocity takes into account whether promises are made by two parties or by a single party. Applicability is the extent to which a particular contract is mandatory….