VOID AGREEMENTS (INDIAN CONTRACT

ACT,1872)

AGREEMENT S

According to section 2(e),

Every promise and every set of promises forming a consideration for each other, is an AGREEMENT

MEANING OF VOID AGREEMENTS

According to section 2(e), An agreement which is not enforceable by law

TYPES OF VOID AGREEMENTS

AGREEMENT BY OR WITH PERSON INCOMPETENT TO CONTRACT(section 11) AGREEMENT ENTERED INTO THROUGH A MUTUAL MISTAKE OR FACT BETWEEN THE PARTIES(20) AGREEMENT, THE OBJECT OR CONSIDERATION OF WHICH IS UNLAWFUL OR IS PARTLY UNLAWFUL(23,24) AGREEMENTS MADE WITHOUT CONSIDERATION(25) AGREEMENTS IN RESTRAINT OF

AGREEMENTS ON RESTRAINT OF TRADE(27) AGREEMENTS IN RESTRAINT OF LEGAL PROCEEDINGS(29) WAGERING AGREEMENTS(30) IMPOSSIBLE AGREEMENTS(56)

AGREEMENT BY OR WITH PERSON INCOMPETENT TO CONTRACT As under section 11, A person who has not attained the age of majority or is of unsound mind or is disqualified by any law are incompetent to contract and the contract made by them is void-ab initio.

AGREEMENT ENTERED INTO THROUGH A MUTUAL MISTAKE OR FACT BETWEEN THE PARTIES When there is mutual mistake of both the parties the agreement is said to be void.

BILATERAL

UNILATERAL

AGREEMENT, THE OBJECT OR CONSIDERATION OF WHICH IS UNLAWFUL OR IS PARTLY UNLAWFUL

The consideration or object of an agreement is unlawfull when:it is forbidden by law if it is fraudlent if it defeats the provisions of any law if it implies injury to a person or property of another if the court regret it as immoral or opposed to public poilicy

AGREEMENTS MADE WITHOUT CONSIDERATION According to section 10 consideration is one of the essential elements of a contract. According to section 25, an agreement made without consideration is void

AGREEMENTS IN RESTRAINT OF MARRIAGE

According to section 26, Every agreement in restraint of the marriage of any person other then a minor is void.

AGREEMENTS ON RESTRAINT OF TRADE

Every agreement by which anyone is restraint from exercising a lawful profession, trade or business of any kind is to that extent void

AGREEMENTS IN RESTRAINT OF LEGAL PROCEEDINGS According to section 28, the following two agreements amount to restraint of legal proceedings and are thus held to be void:-

-Agreement restricting enforcement of rights. -Agreement limiting the period of limitation.

WAGERING AGREEMENTS
Agreement by way of wager are void and no suit shall be brought for recovering anything alleged to be won an any wager. Such agreements are chance oriented and therefore completely uncertain.

ESSENTIALS OF WAGERING AGREEMENT

Promise to pay money or moneys worth. Uncertain events. Mutual chances of gain or loss. Neither party to have control over the event. No other interest in the event.

IMPOSSIBLE AGREEMENT
According to section 56. Agreement to do an impossible act in itself is void.

CAPACITIES OF THE PARTIES

According to section 11, Every person is competent to contract who is of the age of majority, according to the law to which he is subject, and who is of the sound mind and is not disqualified from contracting by law.

INCOMPETENT PARTIES
MINOR
A PEARSON WHO HAS NOT ATTAINED THE AGE OF MAJORITY.

UNSOUND MIND DISQUALIFIED BY LAW

A PERSON WHO CANT UNDERSTAND THE TERMS OF CONTRACT OR CAN NOT TAKE A RATIONAL JUDGEMENT. A PERSON WHO IS NOT ALLOWED TO ENTER INTO ANY CONTRACT TO WHICH HI SI SUBJECT.

MINOR
According to section 3 of indian majority act,1875 A person is said to b major when:

When a guardian of minor is appointed under guardian and ward act, 1890 When minor property has passed under the superintendence of the court of ward In other cases

On completion of 21 years On completion of 21 years

On completion of 18 years

UNSOUND MIND
According to section 12, A person is said to be of sound mind if at the time of making of contrct he is capable:To understand the terms of the contract To form a rational judgement os to its effects upon his intrests

PERSONS DISQUALIFIED BY LAW

The following persons are disqualified by law:1) ALIEN ENEMIES 2) FOREIGN SOVERIGNS 3) CONVICTS 4) INSOLVENTS