By default, these are valid and legitimate agreements under the principles of contractual freedom. These types of contracts are defined in Section 2 (i) of the Indian Contracts Act: “An agreement applicable to the choice of one or more parties, but not to the choice of the others, is a non-negotiable contract.” Therefore, an unsigned contract would be a contract that can be avoided by one of the parties after its election. If such a party does not avoid the contract, the contract remains valid, but if it prefers to circumvent the contract, the contract becomes void. A contract is considered illegal at the time of its creation if it is inoperative in the absence of an illegal act. Contracts in this category cannot be applied. Where a contract is illegal at the time of contract management, neither party acquires rights under this contract, regardless of whether or not the intent to break the law. The contract is null and private and is treated as if it had never been concluded. Another common reason for a non-contract is the impossibility of delivery. This occurs when an aspect of the contract can no longer be executed by one of the parties. The Indian Contracts Act is governed by the Indian Contract Act of 1872. However, the Contract Act does not codify the entire law of contracts, the law also expressly preserves any use or use of trade or any incident of a contract that is not inconsistent with the provisions of the law. Contract law is limited to the application of voluntary civil obligations.
Contract law is not able to deal with the full range of agreements, many agreements remain outside the jurisdiction because they do not meet the requirement of a contract. A contract is an agreement; An agreement is a promise and a promise is a proposal adopted. Any agreement is therefore the result of a proposal on the one hand and its adoption on the other. A contract is considered a contract if it is legally applicable. Section 10 of the Act deals with the conditions of enforceable force, according to this section, a contract is a contract when it is made for consideration, between the parties who are competent for the contract, with free consent and for a legitimate purpose. 2. Types of contracts on the basis of its validity: – (i) Valid contract: A contract that has all the essential elements of a contract is referred to as a valid contract. A valid contract can be enforced by law. (ii) Empty Contract [Section 2 (d)] : An agreement that is not applicable by law is considered non-applicable. A non-law contract is a contract that is no longer applicable. A contract initially concluded may be valid and binding for the parties.
It can be invalidated later. (iii) Nullity Contract [Section 2 (i): “An agreement legally applicable to the choice of one or more parties, but not to the choice of another or another, is a non-negotiable contract.”