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INTRODUCTION & BRIEF:-To avoid the above mentioned, we have to understand the following
issues in a building contract to make it more clear & specific.
OFFER:When one person signifies to another his willingness to do or to abstain from doing anything,
with a view to obtaining the assent of that other to such act or abstinence, he is said to make a
offer or a proposal.
The law requires that the offer should be made known to the acceptor, and thus it can be oral or
written or partly written and partly oral.
ACCEPTANCE:When the person to whom the proposal is made signifies his assent there, the proposal is said
to be accepted proposal, when accepted, becomes a promise.
To be binding an effective, the acceptance must be unconditional and absolute. A conditional
acceptance amounts to a counter-offer.
ESSENTIANLS OF A VALID CONTRACT:A Valid Agreement Must Fulfill Some Requirements: Parties to the contract should be competent.
Infancy-a minors contract is void unless it is for his benefit or necessaries.
Lunacy-a person of unsound mind cannot determine the purpose of a contract
Drunkenness-a sane man under the influence of alcohol cannot determine the terms of
legal contract so as to understand them.
The subject matter of the agreement should be legal and definitive
Contracts involving the erection of a building designed or located in violation of municipal
regulation are not binding.
A proper proposal and its acceptance
A proposal and its acceptance are expressed in form of writings.
Parties of the agreement must give their free consent.
Two or more persons are required to consent a agreement to a law binding contract

There must be a lawful consideration.

EXPRESSED AND IMPLIED CONTRACTS: The proposal or acceptance of any promise is made in words, the promise is said to be
express in so far as such proposal or acceptance is made or implied.
An agreement between the parties to vary the terms of the partnership contract may be
implied from a uniform course of dealing.
VALID, VOID, VOIDABLE AND ENFORCEABLE CONTRACTS: Valid contract is an agreement enforceable by law
Agreements are made void under such circumstances
When there is unlawful consideration or object.
When it is entered without consideration
When there is a mistake from both the parties
Voidable contracts is when one or more parties have power by a manifestation of election
to avoid legal relations created by the contracts
JOINT LIABILITIES:When Two or More Persons Make A Joint Promise, Then Unless A Contrary Intention Appears
From The Agreement, All Such Persons Must Fulfill Their Promise Jointly
PEFORMANCES OF RECIPROCAL PROMISES: When a contract consist of reciprocal promises, to be peformed in a specified order they
have to be performed in that order.
Where the order is not expressly fixed then the reciprocal promises are to be performed.
TERMINATION OF AGREEMENTS-Possibilities: Full and satisfactory performance by both parties.
Breach of contract:-when defaulted by one party releases the other from contractual
Mutual agreements of the parties to terminate it.
Impossibility of the contract excuses the parties from their obligations and duties.

By operation of law.