Agreement Is Defined In Section
7) If a term is defined, do not repeat any part of its definition related to the use of the defined term. 5) Create only one defined term for each definition and never use a synonym in which the defined concept, word or phrase will apply. The Indian Contract Act, 1872 imposes the Contracts Act in India and is the most important law governing contract law in India. The law is based on the principles of English common law. It applies to all states of India. It determines the circumstances in which the commitments of the parties are legally binding. In accordance with section 2(h), the Indian Contract Act defines a contract as a legally enforceable agreement. contract, which is contrary to public policy, can be rejected by the Court, even if this contract is beneficial for all the contracting parties – What are the recitals and objects that are lawful and what is not – Newar Marble Industries Pvt. Ltd. Vs. Rajasthan State Electricity Board, Jaipur, 1993 Cr. L.J. 1191 at 1197, 1198 [Raj.] – Who object or consideration against public order, Was illegal and null and void – What can be better and what more may be an admission that the consideration or the object of the compound interest rate agreement was the failure of the board of directors to sue the petitioning company for an offence under section 39 of the Act, and that the board of directors has turned the offence into a source of profit or benefit to itself.
That recital or object is manifestly contrary to public policy, with the result that the agreement on the compound interest rate referred to in Article 23 of the Law is unlawful and inconclusive. It is not enforceable against the petitioners` society. 5. Factual error (§20): “If both parties to an agreement have an error in a fact essential to the agreement, the agreement is null and void.” A party cannot be allowed to obtain any relief if it has done a particular act in ignorance of the law. A mistake can be a bilateral mistake if both parties to an agreement are wrong in reality. The error must relate to a fact that is essential to the agreement. Sometimes it may be useful to define a term when it improves the interpretation of the provision. In this case, the definition should be inserted in this section.
For example, if a name or reference, such as an institution, relationship or status normally written with a first capital (or all caps), is not defined as such in the contract, it should be clear that the term is not a defined term. This can be achieved by printing the reference in italics. Note the “break” between the reference to the institution and its rules in the following example: in the case of transactions where no clear line should be drawn between terms that could be either within the definition or outside the definition, it is often better to leave the term undefined. . . .