Sunday, March 8, 2009

BUSINESS LAW .CHAPTER NO.1 (CONTRACT AND ITS KINDS)

BUSINESS LAW
(KHALID MAHMOOD CHEEMA)
CHAPTER NO.1 (CONTRACT AND ITS KINDS)


CONTRACT WHICH HAVE BE DECLAIRED VOID
(AGREEMENT RESTRAIGHT OF MARRIAGE VOID)
(AGREEMENT RESTRAIGHT FOR LEGAL PROCEEDINGS VOID)

void contract are those which are not enforceable by law ,following contracts have been declaired void.
1/Agreement of restraight of marriage:An agreement in which adults person is prevented from marriage is decleared void by law .The law regards marriage as the right of every person but law does not fever the minor.
e.g: Mr Ashraf agrees with Ms Nadia that she will not marry with Arsalan so this contract decleared void.
2/Agreement in restraint of business: section 27 Any lawful proffision trade or business of any kinds , restraint by any agreement is decleared void.
e.g: Mr.Adil a publisher offered Rs 1Lac.to Mr A not to deal in a business .A accepted the agreement is void.
3/Mistake by both parties: If both the party of agreement are undermistake as to matter of effect , essential to agreement is void.
4/Agreement by way of wages: Acording to section 30: the agreement by way of wages is oid with certain assumption .The wagering contract wager is game of chance .In which loss or gane depends on uncertain events.
e.g: Mr Shah bets with r hasan & losses agreement b/w .So the contract is void.
5/Uncertainty in agreement : For the valid agreement it is necessary that it should be certain of all aspect if the meanings of the agreement is not cleared . it is not capable being certain.
6/Unlawfull object: (TARGET) if the object & consideration of the agreement is against the law will decleared void any target / object of the agreement which is forbitten by law of its defeats the law .
7/Immoral: If any agreement is against the moral values of the society is decleared void.
8/Fradulent: if the object or consideration of an agreement is to demolishthe other is also void agreement ,
9/The agreement with out object: section 23 :The agreement may not existeswith out object is void.
10/Agreement to due impossible acts: section 56:if the target of agreement is not possible such types of agreement is void.
" An agreement to due in act impossible in its self is void.
e.g: Suupose Mr A agrees to pay Mr Q Rs 1000 if he out the moon on his hand .
11/Agreement is restraint of legal proceedings: section 28: Every is allowed by law to obtain is legal writes through the legal proceedings.

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