Contract Notes

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Contract Notes
  6. Revocation how made. 6.Revocation how made.-A proposal is revoked- (1) by the communication of notice of revocation by the pro poser to the other party (2) by the lapse of the time prescribed in such proposal for its acceptance, or, if no time is so prescribed, by the lapse of a reasonable time, without communication of the acceptance; (3) by the failure of the acceptor to fulfil a condition precedent to acceptance ; or (4) by the death or insanity of the proposer, if the fact of his death or insanity comes to the knowledge of the acceptor before acceptance. 7. Acceptance must be absolute. 7.Acceptance must be absolute.-In order to convert a proposal into a promise, the acceptance must- (1) be absolute and unqualified; (2) be expressed in Some usual and reasonable manner, unless the proposal prescribes the manner in which it is to be accepted. If the proposal prescribes a manner in which it is to be accepted, and the acceptance is not made in such manner, the proposer may, within a reasonable time after the acceptance is communicated to him, insist that his proposal shall be accepted in the prescribed manner, and not otherwise; but if he fails to do so, he accepts the  ¬†acceptance. 8. Acceptance by performing conditions, or receiving consideration. 8.Acceptance by performing conditions, or receiving consideration.- Performance of the conditions of a proposal, or the acceptance of any consideration for a reciprocal promise which may be offered with a proposal, is an acceptance of the proposal. 9. Promises, express and implied. 9.Promises, express and implied.-In so far as the proposal or acceptance of any promise is made in words, the promise is said to be express. In so far as such proposal or acceptance is made otherwise than in words, the promise is said to be implied. CHAPTER II OF CONTRACTS, VOIDABLE CONTRACTS AND VOID AGREEMENTS CHAPTER II OF CONTRACTS, VOIDABLE CONTRACTS AND VOID AGREEMENTS 10. What agreements are contracts. 10.What agreements are contracts.-All agreements are contracts if they are made by the free consent of parties competent to contract, for a  lawful consideration and with a lawful object, and are not hereby expressly declared to be void. Nothing herein contained shall affect any law in force in 1*[India] and not hereby expressly repealed by which any contract is required to be made in writing2* or in the presence of witnesses, or any law relating to the registration of documents.
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