· Parties must reach the age of majority, that is, 18 years. An agreement with a minor is considered invalid ab intio (Mohri Bibi/Dharmodas Ghose, 1903) The examination or the purpose of an agreement is legal, unless it is: for a contract to be valid, it must have four key elements: convention, capacity, reflection and intent. An agreement therefore consists of reciprocal commitments to be respected by the parties. Promises are reciprocal if both sides have to do something for each other. 5. Factual error (section 20): “If both parties to an agreement have an error as to a fact essential to the agreement, the agreement is not concluded.” A party cannot be relieved because it has done a particular act in ignorance of the law. The error can be a bilateral error if both parties to an agreement are wrong. The error must be about an issue that is essential to the agreement. 2- The intention to create a legal relationship: there must be a clear intention between the parties that the agreement be bound by legal consequences and that it creates a legal obligation. This means that agreements that are not applicable by law. B, for example, social or national agreements between spouses or friends that cannot be applied in court, would not constitute a contract.
A legal relationship is implicit if the absence of an act mentioned in the treaty would have legal consequences. So there has to be an agreement that should be legally applicable. If the consideration or purpose of the contract is at issue, the contract is cancelled. Therefore, if the purpose of the agreement is to deceive another person, it is null and void. [xvii] What fraud is has been defined from subsections 2 to 5. 1. Offer – One of the parties has promised to take or refrain from taking certain measures in the future. 2. Counterpart – In exchange for the deed or non-action indicated, something valuable was promised. This can take the form of a considerable expenditure of money or effort, a promise to perform some kind of service, an agreement not to do something, or an addiction to promise. The consideration is the value that encourages the parties to enter into the contract. Like the doctrine of separation in constitutional law, the doctrine of the blue foundation is used in contract law to separate the non-illegitimate part from the rest of the agreement.
Agreements can be concluded orally or in writing. If the agreement is available in writing, it should complete all legal certification and registration procedures. If the treaty does not comply with the required legal formalities, the law cannot enforce them. A contract defined in Section 2 (h) of the Contracts Act 1872 (`the deed`) refers to “any legally enforceable agreement.” Contracts can be written in formal or informal terms, or be completely orally or orally. Another essential element of the current contract is the agreement of the parties, which should be free.