Page 11 - 01. Indian Contract Act, 1872

(iii) Acknowledgement of liability or by past performance there of.

(iv) Assignment of a contract.

Note: nominee is not an assignee

(v) Contracts entered into through an agent.

(vi) Where the promisor by his own conduct is estopped from denying his

liability to perform the promise the person who is not a party to the
contract can sue upon to make the promisor liable.

Terms must be certain:
 The meaning of an agreement must be certain and capable of being made

certain

 Terms must not be vague.
 If it is not so, then the agreement will not be enforceable by law.

 A Contract to contract is not a contract”.

Types of agreements

On basis of legally On basis of enforceability

Legal Agreement Illegal Agreement As a Contract Void Agreement

Difference between an agreement and contract

Agreement Contract
(1) Its elements are offer and Its element is an agreement and its

acceptance enforceability

(2) it may or may not create legal Creation of legal obligation is must in

obligation contracts

(3) it may not be binding hence may It is binding on both the parties hence

not be enforceable enforceable

(4) it may not result in a contract It necessarily constitutes an agreement

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