To reach an agreement, the following ingredients are necessary: fraud: if Mr. Peela knew the actual colour of the car in the above case, but lied to Mr. Lal; fraud and such an agreement could have been annulled. For example, if a person buys a car that is just 3-4 years old and the owner lied about the year the car was made and thus commits fraud. Now, according to the Indian Contract Act, the 1872 fraud rendered a contract cancelled. Therefore, the buyer is free to buy the car or not while the seller is bound by his commitment. At the time of an agreement, if a person is of an unhealthy mind or is disqualified by law; the agreement is considered inconclusive. On the other hand, an agreement with a minor is not concluded from the outset and therefore cannot be enforced. For example, if a 7-year-old boy buys an ice cream; although he enters into an agreement with the ice cream seller, he is not considered a contract, since he is a minor; The game is not in a position to be treated. (little) These agreements are not concluded, which are based on one of the above themes. There is no liability for non-performance of the contract and, therefore, the terms of the contract are not binding on any of the parties.
An agreement that is not legally necessary to make it enforceable, except for proof that the agreement has been reached and that the parties approve it. The above conditions must be met for an agreement to be legally applicable. The agreement expires when one of these conditions is not met, unless, in the case of free consent, the agreement is not in arre between, rather than null and void, and the party whose consent was not free at the time of the conclusion of the contract gives the right to pursue the contract or not. Agreement becoming inoperative: an agreement that was legal and applicable at the time of its initiation may subsequently be invalidated because of the impossibility of enforcement, the modification of the law or for other reasons. If it is void, the treaty will no longer lose any legal value. To enter into a contract, we must ensure that the following conditions are met: Under the Indian Contract Act, the following agreements are invalidated- Literally: Empty means having no legal value and the agreement means agreement, promise or contract made with someone. A non-responsibility agreement therefore means an agreement that has no legal value. One of the common perplexities among people is the recognition of the difference between a contract and an agreement. They are often used interchangeably. For example, if the landlord hands over the lease and says, “Please sign the contract,” it creates uncertainty about whether it is an agreement or a contract.