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Free consent - Contract, Business Law Video Lecture | Business Law - B Com

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FAQs on Free consent - Contract, Business Law Video Lecture - Business Law - B Com

1. What is free consent in contract law?
Ans. Free consent in contract law refers to the voluntary agreement of all parties involved in a contract to enter into the contract without any undue influence, fraud, coercion, or misrepresentation. It means that the parties willingly and knowingly agree to the terms and conditions of the contract without any external pressures or deceptive tactics.
2. What are the essential elements of free consent in a contract?
Ans. The essential elements of free consent in a contract include: 1. Offer and acceptance: Both parties must freely offer and accept the terms of the contract without any force or coercion. 2. Mental capacity: All parties involved must have the mental capacity to understand the terms and consequences of the contract. 3. Absence of fraud: There should be no intentional misrepresentation or concealment of facts by any party. 4. Absence of coercion: No party should be under any physical or mental pressure to enter into the contract. 5. Absence of undue influence: The consent should not be obtained through unfair advantage or influence exerted by one party over the other.
3. What happens if free consent is not present in a contract?
Ans. If free consent is not present in a contract, the contract becomes voidable at the option of the aggrieved party. This means that the party whose consent was not freely given can choose to either affirm the contract or rescind it. If the contract is rescinded, both parties are released from their obligations and any consideration exchanged must be returned.
4. How can a lack of free consent be proved in a contract?
Ans. To prove a lack of free consent in a contract, the aggrieved party needs to establish that there was coercion, undue influence, fraud, misrepresentation, or mistake involved. This can be done by presenting evidence such as communication records, witness testimonies, expert opinions, or any other relevant documents that support the claim of lack of free consent.
5. What are the remedies available for a party affected by lack of free consent?
Ans. The remedies available for a party affected by lack of free consent include: 1. Rescission: The aggrieved party can choose to rescind the contract, which means that both parties are released from their obligations and any consideration exchanged must be returned. 2. Damages: The party suffering from lack of free consent may seek damages for any losses or harm suffered as a result of the contract. 3. Specific Performance: In certain cases, the court may order the breaching party to perform their obligations under the contract as originally agreed. 4. Injunction: The court may issue an injunction to prevent the other party from taking any further action that may harm the aggrieved party's interests. It is important to note that the available remedies may vary depending on the jurisdiction and the specific circumstances of the case.
33 videos|59 docs|18 tests
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