CONTRACT OR AGREEMENT:
- A contract is a legal agreement b/w two or more parties.
Essentials/ requirements of a valid contract:
There are six essentials of a valid contract.
- There must be a proper offer and acceptance
- The parties must be of sound mind and they must be of qualified age at least 18 yeast.
- The agreement must be by free consent ie there should not be any outside pressure and force.
- The motive of an agreement would be lawful fraudulent or injury to any person than it is illegal.
- The agreement should not be void eg what types of agreement are void.
- Agreement in restraint of judicial proceeding.
- Agreement in restraint of trade or profession.
- Agreement in restraint of marriage.
- Uncertain agreement
- Agreement to do an act which is impossible to do eg to find treasury with the help of magic.
- It should be in writing and attested and registered as required by law.
Mode/ Methods of Discharge (maturity/ ending) of contract:
- By mutual agreement
- By performance
- By breach/violence.
- By operation of law
OWNERSHIP V RIGHT:
- Right is a liberty of doing something consistently, with the law.
- There are two main classes of right.
- Private right: those which are enjoyed by individuals.
- Public rights: those which are common to all the members of a society.
Classification of Rights:
- Classification of rights is based on scope.
- Under this classification, the first one is called ownership and the second one is called encumbrance (restriction and limitations).
- Ownership: It is the right to use, but this does not mean that there are no restrictions. There are always some legal restrictions eg if you are the owner of a stone but you are not allowed to throw it on the glass window of your neighbor. You have the right to destroy it, to use it in any legal way and to sell it or dispose it off. Only God has complete ownership of all properties.
- Encumbrances: It is also a right. It is a restriction on the full enjoyment of a property by the owner. There are four types of encumbrances, but only one is commonly used which is Servitude.
Servitude is ‘a restriction or obligation attached to a property that entitles somebody other than the owner to a specific use of it such as the right to cross it’. There are two kinds of servitude:
- Real Servitude: It exists only in connection with some property. Most forest rights are real servitude.
- Personal Servitude: Whereas it exists in the favor of individual or community.
In England, servitude is classified into the following 2 classes.
- Easement: The right to use, but not to own, someone else’s property. For example, if person A’s land does not border on a road, A may ask his or her neighbor B for an easement to build a driveway across B’s land to the road. 2. It is a class of servitude. It is right to take the thing from another person’s property eg right of using way.
- The right of common: Right to take valuable things from the servant estate.
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