1. Introduction: "A contract is an agreement creating and defining obligations between the parties". -Salmond Contractual relationship or legally enforceable promises is a symbol of a civilised society, governed by rule of Law. Contractual relationship/agreements help in protecting the interests of both parties i.e. promisor and promisee while dealing with each other and it is important to make both parties liable for fulfilling the promises, creating an environment of trust and confidence. But all promises are not contract, as some are not enforceable by law. Liability for a contract exists with the capacity/competence to contract and some people, because of age or unsound mind, are not competent enough to understand the full implications and of forming a rational judgment as to its effect upon his interest. Therefore, some distinctions are made in the Indian Contract Act, 1872 and various other laws, at times …show more content…
Minors are an asset to the growth of the nation. They form a considerable size of the Indian population (approx. 46-47crore of the Indian population, as per 2011 census). In traditional Indian setup (with few exceptions), engagement of minors in contracts was mainly a social malpractice where minors were forced to pay the debt of poor father through their labour, often continuing for generations. But in modern day economic setup, minors are becoming entrepreneurs, getting skilled and employed, taking loans for education and so on leading them to be a promisor or promisee in a contract. Indian laws have also evolved with time to protect the benefits of minor while creating a balance with ‘Doctrine of Equitable Restitution,’ through liabilities for necessaries. 2. Defining Minor and the competence of a minor to enter into a contract: Every agreement, to become a contract, needs to fulfil certain requirements. Some of the important requirements defined by Indian Contract Act, 1872 (section 10)
* Minors are defined as individuals under the age of majority to contract. This is the age at which a person is entitled to the management of his/her own estate (18 in most states).
A contract is a legally obligatory promise or set of promises (Bagley, C. 2013). If this promise is broken, either party involved can be legally responsible and take the other party to court. There are four basic elements in the creation of a valid contract. The first consist of an agreement between the parties involved, by an presented offer and acceptance. The second states that the parties’ promises must be supported by something of worth, known as consideration. The third advises both parties must have the ability to enter into a contract. The fourth element states the contract must have a legal purpose (Bagley, C 2013).
Contract law has set out to provide a healthy trade environment. Contracts are promises enforced by the law, with the support of something of value that has a legal purpose. It is an agreement between parties, formed by the elements: offer and acceptance, with all parties having the capacity to perform obligations enforceable by law. There are instances where the enforcement of a contract would bring about gains or losses to society and commerce.
In the Valencia case the minor entered into a contract crucial to the operation of his trucking company. At the
Minors, who become emancipated, that is, no longer under the control of their parents, are responsible for their contracts.
In the United States, juveniles have always known to cause trouble in the community. In recent times, many individuals have the perception that juvenile crimes are on the rise and that these offenders are getting younger. Charging juveniles as adult has always been a debate, because of their thinking process and protecting their rights. There are many cases that regard juveniles that have changed the policies of this nation. Also for those juveniles that are convicted as adults, there are many challenges that correctional officials have when housing them. Waivering juveniles to adult court has many factors to it and whether or not juveniles age thirteen and fourteen should be
A contract in its essence according to Davitt is “a union of two or more persons, originating in their mutual promises enforceable in law, for the reordering of their relations of title, duty and claim regarding something to be done or not to be done.” Id. at 273. The tricky part concerns what a mutual promise enforceable in law entails. As stated above, there are many difference schools of thought about what fills in the gaps of promises and what is enforceable by law.
Contract is defined as an agreement between two or more parties creating obligations that are enforceable or otherwise recognizable at law. For purposes of this chapter, we are concerned with agreements to buy and sell some type of agricultural product. Contracts 101 You should be concerned about contract law because it determines how parties to the contract will need to keep the promises they make. Although very few contracts ever end up in court, if the parties to a contract disagree on something and are unable to resolve the disagreement, they may have to resort to the judicial process. This means that as the parties negotiate a contract, they need to consider how a judge might ultimately interpret it. For a contract to be enforceable, it must involve:
Agreements such as this can lift the burden of paying for a girl’s education, thus making it easier for parents to choose to educate their children, instead of marrying them off. In rural areas of underdeveloped countries, the practice of child marriage is on the rise due to the fact that most of the girls being married off are not educated enough to know there are laws in place to protect them. Being oblivious of their rights, children are being married off before they are able to comprehend the harm brought upon them. Having knowledge of laws that protects them from being married before they are ready can assist them in taking steps to prevent the occurrence of early marriage. Educating young girls about their rights is one way of ensuring that one child may be kept safe from having to face the atrocities of marriage with mostly older men. We can accomplish this by setting up organizations that can go to different villages and provide information on how marriage at a young age can have negative effects on the health of young wives. These organizations could even work with the government to provide shelters for girls who are trying to escape the wickedness of early marriage.
“A contract is a legally enforceable promise.” Lau, T., & Johnson, L. (2013). When people buy cell phones these days, they understand that they will be entering a legally enforceable promise.
A contract is an arrangement between two or more parties that creates rights and obligations to each party. The essential parts of a contract are as follows:
In order for a contract to be formed, there are various requirements. These are offer, acceptance, consideration, and the intention to create legal relations. A contract may also be terminated.
Contracts are used in many different forms and for just as many different situations within our everyday lives. Some contracts are more involved than others and for some; contracts are an essential of their success. As we continue, we will take a look at different types of contracts with the main focus on enforceable contracts. With so many elements that are incorporated into any contract, the six essential elements of enforceable contracts will be the main focus of this writing. Having a clearer understanding of the essentials of life will help prepare us for life’s curves that may come our way.
Contractual agreement has always been viewed in terms of offer and acceptance. The universal principle to contract law has always been parties may get into an agreement in whichever way they deem fit and they are subject to certain terms as they choose. As far as legal requirements vital to their formation are binding contracts may be formed. Moreover a binding agreement may be manifested in terms of writing or in verbal form.
Our Indian society is far better than the rest of the universe from the point of view of culture as well as conventions and ways of living but on the other side, if we glance into our society, it has many social and political and economical evils such as bride burning, dowry system and dowry death, corruption in educational system, problem of illiteracy in India, domestic violence, communalism, injustice, crime against children, unemployment in India, suppression of human rights, poverty. Some of the problems have been cast off from its core by the social propaganda and social awareness and education and there are still such unanswerable problems