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The law of contract lays down the legal rules relating to promises: their formation, their performance, and their enforceability. Explaining the object of contract, Sir William Anson observes: “The law of contract is intended to ensure that what a man has led to expect shall come to pass; that what has been promised to him shall be performed.”The law relating to contract defines it as ‘An agreement which is enforceable by law is a Contract’. An agreement is a promise and a promise is an accepted proposal. Thus every agreement is made up of a proposal or offer from one side and its acceptance by the other.There must be a lawful offer and acceptance for the formation of an agreement. The adjective ‘lawful’ implies that the offer and acceptance must satisfy the requirements of the contract act in relation thereto.Another important essential of a contract is Intention to create a legal relationship. There must be a clear intention among the parties that the agreement should be attached by legal consequences and create a legal obligation. Lawful Consideration and competent parties are other important essential ingredients of contract.Free consent is one of the most important essential ingredients of a contract. Section 14 of the Act defined the term free consent as follows- “consent is said to be free when it is not caused by coercion, undue influence, fraud, misrepresentation or mistake.Contracts play a very important role in the day-to-day life of every person. Contracts or agreements between various parties are framed and validate by the Contract Act. So for the formation of a contract, the above-given conditions must be fulfilled by the parties.Q. Where both parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is void. In the month of June, 2006 Pak Cotton Mills of Lahore asked its supplier Surat Cotton Company to “send 100 Quintals on the Peerless.” Surat Cotton Company replied – “Consignment would be sent by Peerless.” The consignment was sent in September, but as the Cotton Mills was expecting the consignment in July itself, it suffered genuine losses. It was found that there were two ships named Peerless sailing from Surat, one in July and the other in September. Pak Cotton Mills claims compensation for its losses due to delayed delivery from Surat Cotton Company. Will it succeed?a)The suit will succeed.b)The suit will fail.c)The suit will succeed because any reasonable person is expected to deliver the goods by the first available dispatch.d)The suit will fail because both parties were under a mistake of fact.Correct answer is option 'D'. Can you explain this answer? for CLAT 2024 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about The law of contract lays down the legal rules relating to promises: their formation, their performance, and their enforceability. Explaining the object of contract, Sir William Anson observes: “The law of contract is intended to ensure that what a man has led to expect shall come to pass; that what has been promised to him shall be performed.”The law relating to contract defines it as ‘An agreement which is enforceable by law is a Contract’. An agreement is a promise and a promise is an accepted proposal. Thus every agreement is made up of a proposal or offer from one side and its acceptance by the other.There must be a lawful offer and acceptance for the formation of an agreement. The adjective ‘lawful’ implies that the offer and acceptance must satisfy the requirements of the contract act in relation thereto.Another important essential of a contract is Intention to create a legal relationship. There must be a clear intention among the parties that the agreement should be attached by legal consequences and create a legal obligation. Lawful Consideration and competent parties are other important essential ingredients of contract.Free consent is one of the most important essential ingredients of a contract. Section 14 of the Act defined the term free consent as follows- “consent is said to be free when it is not caused by coercion, undue influence, fraud, misrepresentation or mistake.Contracts play a very important role in the day-to-day life of every person. Contracts or agreements between various parties are framed and validate by the Contract Act. So for the formation of a contract, the above-given conditions must be fulfilled by the parties.Q. Where both parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is void. In the month of June, 2006 Pak Cotton Mills of Lahore asked its supplier Surat Cotton Company to “send 100 Quintals on the Peerless.” Surat Cotton Company replied – “Consignment would be sent by Peerless.” The consignment was sent in September, but as the Cotton Mills was expecting the consignment in July itself, it suffered genuine losses. It was found that there were two ships named Peerless sailing from Surat, one in July and the other in September. Pak Cotton Mills claims compensation for its losses due to delayed delivery from Surat Cotton Company. Will it succeed?a)The suit will succeed.b)The suit will fail.c)The suit will succeed because any reasonable person is expected to deliver the goods by the first available dispatch.d)The suit will fail because both parties were under a mistake of fact.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CLAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The law of contract lays down the legal rules relating to promises: their formation, their performance, and their enforceability. Explaining the object of contract, Sir William Anson observes: “The law of contract is intended to ensure that what a man has led to expect shall come to pass; that what has been promised to him shall be performed.”The law relating to contract defines it as ‘An agreement which is enforceable by law is a Contract’. An agreement is a promise and a promise is an accepted proposal. Thus every agreement is made up of a proposal or offer from one side and its acceptance by the other.There must be a lawful offer and acceptance for the formation of an agreement. The adjective ‘lawful’ implies that the offer and acceptance must satisfy the requirements of the contract act in relation thereto.Another important essential of a contract is Intention to create a legal relationship. There must be a clear intention among the parties that the agreement should be attached by legal consequences and create a legal obligation. Lawful Consideration and competent parties are other important essential ingredients of contract.Free consent is one of the most important essential ingredients of a contract. Section 14 of the Act defined the term free consent as follows- “consent is said to be free when it is not caused by coercion, undue influence, fraud, misrepresentation or mistake.Contracts play a very important role in the day-to-day life of every person. Contracts or agreements between various parties are framed and validate by the Contract Act. So for the formation of a contract, the above-given conditions must be fulfilled by the parties.Q. Where both parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is void. In the month of June, 2006 Pak Cotton Mills of Lahore asked its supplier Surat Cotton Company to “send 100 Quintals on the Peerless.” Surat Cotton Company replied – “Consignment would be sent by Peerless.” The consignment was sent in September, but as the Cotton Mills was expecting the consignment in July itself, it suffered genuine losses. It was found that there were two ships named Peerless sailing from Surat, one in July and the other in September. Pak Cotton Mills claims compensation for its losses due to delayed delivery from Surat Cotton Company. Will it succeed?a)The suit will succeed.b)The suit will fail.c)The suit will succeed because any reasonable person is expected to deliver the goods by the first available dispatch.d)The suit will fail because both parties were under a mistake of fact.Correct answer is option 'D'. Can you explain this answer?.

Solutions for The law of contract lays down the legal rules relating to promises: their formation, their performance, and their enforceability. Explaining the object of contract, Sir William Anson observes: “The law of contract is intended to ensure that what a man has led to expect shall come to pass; that what has been promised to him shall be performed.”The law relating to contract defines it as ‘An agreement which is enforceable by law is a Contract’. An agreement is a promise and a promise is an accepted proposal. Thus every agreement is made up of a proposal or offer from one side and its acceptance by the other.There must be a lawful offer and acceptance for the formation of an agreement. The adjective ‘lawful’ implies that the offer and acceptance must satisfy the requirements of the contract act in relation thereto.Another important essential of a contract is Intention to create a legal relationship. There must be a clear intention among the parties that the agreement should be attached by legal consequences and create a legal obligation. Lawful Consideration and competent parties are other important essential ingredients of contract.Free consent is one of the most important essential ingredients of a contract. Section 14 of the Act defined the term free consent as follows- “consent is said to be free when it is not caused by coercion, undue influence, fraud, misrepresentation or mistake.Contracts play a very important role in the day-to-day life of every person. Contracts or agreements between various parties are framed and validate by the Contract Act. So for the formation of a contract, the above-given conditions must be fulfilled by the parties.Q. Where both parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is void. In the month of June, 2006 Pak Cotton Mills of Lahore asked its supplier Surat Cotton Company to “send 100 Quintals on the Peerless.” Surat Cotton Company replied – “Consignment would be sent by Peerless.” The consignment was sent in September, but as the Cotton Mills was expecting the consignment in July itself, it suffered genuine losses. It was found that there were two ships named Peerless sailing from Surat, one in July and the other in September. Pak Cotton Mills claims compensation for its losses due to delayed delivery from Surat Cotton Company. Will it succeed?a)The suit will succeed.b)The suit will fail.c)The suit will succeed because any reasonable person is expected to deliver the goods by the first available dispatch.d)The suit will fail because both parties were under a mistake of fact.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CLAT. Download more important topics, notes, lectures and mock test series for CLAT Exam by signing up for free.

Here you can find the meaning of The law of contract lays down the legal rules relating to promises: their formation, their performance, and their enforceability. Explaining the object of contract, Sir William Anson observes: “The law of contract is intended to ensure that what a man has led to expect shall come to pass; that what has been promised to him shall be performed.”The law relating to contract defines it as ‘An agreement which is enforceable by law is a Contract’. An agreement is a promise and a promise is an accepted proposal. Thus every agreement is made up of a proposal or offer from one side and its acceptance by the other.There must be a lawful offer and acceptance for the formation of an agreement. The adjective ‘lawful’ implies that the offer and acceptance must satisfy the requirements of the contract act in relation thereto.Another important essential of a contract is Intention to create a legal relationship. There must be a clear intention among the parties that the agreement should be attached by legal consequences and create a legal obligation. Lawful Consideration and competent parties are other important essential ingredients of contract.Free consent is one of the most important essential ingredients of a contract. Section 14 of the Act defined the term free consent as follows- “consent is said to be free when it is not caused by coercion, undue influence, fraud, misrepresentation or mistake.Contracts play a very important role in the day-to-day life of every person. Contracts or agreements between various parties are framed and validate by the Contract Act. So for the formation of a contract, the above-given conditions must be fulfilled by the parties.Q. Where both parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is void. In the month of June, 2006 Pak Cotton Mills of Lahore asked its supplier Surat Cotton Company to “send 100 Quintals on the Peerless.” Surat Cotton Company replied – “Consignment would be sent by Peerless.” The consignment was sent in September, but as the Cotton Mills was expecting the consignment in July itself, it suffered genuine losses. It was found that there were two ships named Peerless sailing from Surat, one in July and the other in September. Pak Cotton Mills claims compensation for its losses due to delayed delivery from Surat Cotton Company. Will it succeed?a)The suit will succeed.b)The suit will fail.c)The suit will succeed because any reasonable person is expected to deliver the goods by the first available dispatch.d)The suit will fail because both parties were under a mistake of fact.Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of The law of contract lays down the legal rules relating to promises: their formation, their performance, and their enforceability. Explaining the object of contract, Sir William Anson observes: “The law of contract is intended to ensure that what a man has led to expect shall come to pass; that what has been promised to him shall be performed.”The law relating to contract defines it as ‘An agreement which is enforceable by law is a Contract’. An agreement is a promise and a promise is an accepted proposal. Thus every agreement is made up of a proposal or offer from one side and its acceptance by the other.There must be a lawful offer and acceptance for the formation of an agreement. The adjective ‘lawful’ implies that the offer and acceptance must satisfy the requirements of the contract act in relation thereto.Another important essential of a contract is Intention to create a legal relationship. There must be a clear intention among the parties that the agreement should be attached by legal consequences and create a legal obligation. Lawful Consideration and competent parties are other important essential ingredients of contract.Free consent is one of the most important essential ingredients of a contract. Section 14 of the Act defined the term free consent as follows- “consent is said to be free when it is not caused by coercion, undue influence, fraud, misrepresentation or mistake.Contracts play a very important role in the day-to-day life of every person. Contracts or agreements between various parties are framed and validate by the Contract Act. So for the formation of a contract, the above-given conditions must be fulfilled by the parties.Q. Where both parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is void. In the month of June, 2006 Pak Cotton Mills of Lahore asked its supplier Surat Cotton Company to “send 100 Quintals on the Peerless.” Surat Cotton Company replied – “Consignment would be sent by Peerless.” The consignment was sent in September, but as the Cotton Mills was expecting the consignment in July itself, it suffered genuine losses. It was found that there were two ships named Peerless sailing from Surat, one in July and the other in September. Pak Cotton Mills claims compensation for its losses due to delayed delivery from Surat Cotton Company. Will it succeed?a)The suit will succeed.b)The suit will fail.c)The suit will succeed because any reasonable person is expected to deliver the goods by the first available dispatch.d)The suit will fail because both parties were under a mistake of fact.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for The law of contract lays down the legal rules relating to promises: their formation, their performance, and their enforceability. Explaining the object of contract, Sir William Anson observes: “The law of contract is intended to ensure that what a man has led to expect shall come to pass; that what has been promised to him shall be performed.”The law relating to contract defines it as ‘An agreement which is enforceable by law is a Contract’. An agreement is a promise and a promise is an accepted proposal. Thus every agreement is made up of a proposal or offer from one side and its acceptance by the other.There must be a lawful offer and acceptance for the formation of an agreement. The adjective ‘lawful’ implies that the offer and acceptance must satisfy the requirements of the contract act in relation thereto.Another important essential of a contract is Intention to create a legal relationship. There must be a clear intention among the parties that the agreement should be attached by legal consequences and create a legal obligation. Lawful Consideration and competent parties are other important essential ingredients of contract.Free consent is one of the most important essential ingredients of a contract. Section 14 of the Act defined the term free consent as follows- “consent is said to be free when it is not caused by coercion, undue influence, fraud, misrepresentation or mistake.Contracts play a very important role in the day-to-day life of every person. Contracts or agreements between various parties are framed and validate by the Contract Act. So for the formation of a contract, the above-given conditions must be fulfilled by the parties.Q. Where both parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is void. In the month of June, 2006 Pak Cotton Mills of Lahore asked its supplier Surat Cotton Company to “send 100 Quintals on the Peerless.” Surat Cotton Company replied – “Consignment would be sent by Peerless.” The consignment was sent in September, but as the Cotton Mills was expecting the consignment in July itself, it suffered genuine losses. It was found that there were two ships named Peerless sailing from Surat, one in July and the other in September. Pak Cotton Mills claims compensation for its losses due to delayed delivery from Surat Cotton Company. Will it succeed?a)The suit will succeed.b)The suit will fail.c)The suit will succeed because any reasonable person is expected to deliver the goods by the first available dispatch.d)The suit will fail because both parties were under a mistake of fact.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of The law of contract lays down the legal rules relating to promises: their formation, their performance, and their enforceability. Explaining the object of contract, Sir William Anson observes: “The law of contract is intended to ensure that what a man has led to expect shall come to pass; that what has been promised to him shall be performed.”The law relating to contract defines it as ‘An agreement which is enforceable by law is a Contract’. An agreement is a promise and a promise is an accepted proposal. Thus every agreement is made up of a proposal or offer from one side and its acceptance by the other.There must be a lawful offer and acceptance for the formation of an agreement. The adjective ‘lawful’ implies that the offer and acceptance must satisfy the requirements of the contract act in relation thereto.Another important essential of a contract is Intention to create a legal relationship. There must be a clear intention among the parties that the agreement should be attached by legal consequences and create a legal obligation. Lawful Consideration and competent parties are other important essential ingredients of contract.Free consent is one of the most important essential ingredients of a contract. Section 14 of the Act defined the term free consent as follows- “consent is said to be free when it is not caused by coercion, undue influence, fraud, misrepresentation or mistake.Contracts play a very important role in the day-to-day life of every person. Contracts or agreements between various parties are framed and validate by the Contract Act. So for the formation of a contract, the above-given conditions must be fulfilled by the parties.Q. Where both parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is void. In the month of June, 2006 Pak Cotton Mills of Lahore asked its supplier Surat Cotton Company to “send 100 Quintals on the Peerless.” Surat Cotton Company replied – “Consignment would be sent by Peerless.” The consignment was sent in September, but as the Cotton Mills was expecting the consignment in July itself, it suffered genuine losses. It was found that there were two ships named Peerless sailing from Surat, one in July and the other in September. Pak Cotton Mills claims compensation for its losses due to delayed delivery from Surat Cotton Company. Will it succeed?a)The suit will succeed.b)The suit will fail.c)The suit will succeed because any reasonable person is expected to deliver the goods by the first available dispatch.d)The suit will fail because both parties were under a mistake of fact.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice The law of contract lays down the legal rules relating to promises: their formation, their performance, and their enforceability. Explaining the object of contract, Sir William Anson observes: “The law of contract is intended to ensure that what a man has led to expect shall come to pass; that what has been promised to him shall be performed.”The law relating to contract defines it as ‘An agreement which is enforceable by law is a Contract’. An agreement is a promise and a promise is an accepted proposal. Thus every agreement is made up of a proposal or offer from one side and its acceptance by the other.There must be a lawful offer and acceptance for the formation of an agreement. The adjective ‘lawful’ implies that the offer and acceptance must satisfy the requirements of the contract act in relation thereto.Another important essential of a contract is Intention to create a legal relationship. There must be a clear intention among the parties that the agreement should be attached by legal consequences and create a legal obligation. Lawful Consideration and competent parties are other important essential ingredients of contract.Free consent is one of the most important essential ingredients of a contract. Section 14 of the Act defined the term free consent as follows- “consent is said to be free when it is not caused by coercion, undue influence, fraud, misrepresentation or mistake.Contracts play a very important role in the day-to-day life of every person. Contracts or agreements between various parties are framed and validate by the Contract Act. So for the formation of a contract, the above-given conditions must be fulfilled by the parties.Q. Where both parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is void. In the month of June, 2006 Pak Cotton Mills of Lahore asked its supplier Surat Cotton Company to “send 100 Quintals on the Peerless.” Surat Cotton Company replied – “Consignment would be sent by Peerless.” The consignment was sent in September, but as the Cotton Mills was expecting the consignment in July itself, it suffered genuine losses. It was found that there were two ships named Peerless sailing from Surat, one in July and the other in September. Pak Cotton Mills claims compensation for its losses due to delayed delivery from Surat Cotton Company. Will it succeed?a)The suit will succeed.b)The suit will fail.c)The suit will succeed because any reasonable person is expected to deliver the goods by the first available dispatch.d)The suit will fail because both parties were under a mistake of fact.Correct answer is option 'D'. 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