Mnemonics : Contract Law - Hobbies PDF Download

 Essential Elements of a Valid Contract

Concept: A valid contract needs specific elements under Section 10 of the Indian Contract Act.

Mnemonic: "A COW Only Flies, Legally Cool"

• A: Agreement (offer + acceptance).
• C: Consideration (something in return).
• O: Object (lawful purpose).
• W: Willing parties (free consent).
• O: Offeror and Offeree (competent parties).
• F: Form (if required, e.g., writing for some contracts).
• L: Lawful (not against law or public policy).
• C: Certainty (clear terms).
• ool: Obligation (intention to create legal relations).

Explanation: For a contract to be valid, it must have a lawful offer and acceptance, consideration, competent parties (e.g., not minors), free consent (no coercion), a lawful object, clear terms, and an intention to create legal obligations. Some contracts need a specific form (e.g., written for property sales).

Remedies for Breach of Contract

Mnemonic: R.D.S.I.Q. (pronounced "Risky")

1. R - Rescission: Cancel the contract and claim compensation for losses.

   • Example: Singer Aria skips her theater performance, so manager Bouncy B cancels the contract and asks for money for losses.
   • Trick: “Rip it up” – picture B tearing up the contract.

2. D - Damages: Get money for direct harm caused by the breach, not random issues.

   • Example: Grumpy Gus gets money for being dropped off at the wrong spot, but not for his wife’s illness.
   • Trick: “Dollars for Direct trouble” – imagine Gus with a dollar sign for his hassle.

3. S - Specific Performance: Court orders the breaching party to do what they promised, unless it’s personal, hard to supervise, or money is enough.

   • Example: Landlord Larry must sell land as agreed, but not for personal or vague jobs.
   • Trick: “Stick to the deal” – see a judge waving the contract like a script. Remember exceptions with “P.I.M.” (Personal, Impractical, Money).

4. I - Injunction: Court stops someone from breaking the contract, like working with others.

   • Example: Gadget Gary is stopped from buying electricity from another company.
   • Trick: “Interrupt bad moves” – picture a judge with a “STOP” sign.

5. Q - Quantum Meruit: Get paid for work done if the contract is broken or void.

   • Example: Builder Betty gets money for half a stage she built.
   • Trick: “Quantity paid” – imagine Betty pointing at her bricks for payment.