Revocation by non- fulfilment of a condition precedent to acceptance. An offer stand revoked if the offeree fails to fulfill a condition precedent to acceptance…

An offer lapses by subsequent illegality or destruction of subject matter. An offer lapses if it becomes illegal after it is made, and before it…

Valid contract Voidable contract. Void contract Unenforceable contract Illegal or unlawful contract From the point of view of enforceability a contract may be valid, voidable,…

According to section 2(i), it is”an agreement enforceable by law”, an agreement becomes enforceable by law when all the essential elements of a valid contract…

According to section 2(i), “an agreement which” is enforceable by law at the option of one or more of the parties thereto, but not at…

“An agreement not enforceable by law is said to be void” [sec.2 (g)]. Thus, a void agreement does not give rise to any legal consequences…

Literally the word ‘void’ means ‘not binding in law’. Accordingly the term. ‘void contract’ implies auseless contract which has no legal effect at all. Such…

An unenforceable contract is one which is valid in itself, but is not capable of being enforced in a court of law because of some…

The word ‘illegal’ means ‘contrary to law’ and the term ‘contract’ means ‘an agreement enforceable by law’. As such to speak of an ‘illegal contract’…

An agreement is a promise or set of promises (s). A contract is essentially an agreement, i.e., a promise or set of promise (s). Differences…