What are the two types of agreement?
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What are the two types of agreement?
The major types of contract are as under:
- Void Contract.
- Voidable Contract.
- Valid Contract.
- Unilateral Contract.
- Bilateral Contract.
- Express Contract.
- Tacit Contract.
- Contingent Contract.
What are the types of void agreement?
Expressly Void Agreements
- 1] Agreement in Restraint of Marriage. Any agreement that restrains the marriage of a major (adult) is a void agreement.
- 2] Agreement in Restraint of Trade.
- 3] Agreement in Restraint of Legal Proceedings.
- 4] An Agreement Whose Meaning is Uncertain.
- 5] Wagering Agreement.
What do you mean by void agreement?
A void agreement is one which cannot be enforced by law . Sometimes an agreement which is enforceable by law, i.e, a contract, can become void. Practically, a contract can be declared to be void by a court of law. An agreement to carry out an illegal act is an example of a void agreement.
What is the wagering agreement?
Wagering Contract is one in which there are two necessary parties between which the contract has been made and wherein, the first party promises to pay a certain sum of money to the second party on the happening of a particular event in the future and the second party agrees to pay to the first party on not happening …
Can anyone make a legal contract?
Anyone can enter into a contract, except minors, certain felons and people of unsound mind. The contract must identify who the parties are; usually names are sufficient, but sometimes addresses or titles may be used.
Which one of the following is the agreement that is not enforceable by law is?
An agreement not enforceable by law is to be a void. Thus a void agreement is void ab initio,i.e., no agreement at all from its very inception. A void agreement never sums to an agreement.
Why all agreements are not enforceable by law?
An agreement starts from an offer and ends on consideration but a contract has to achieve another target i.e. enforceability. Due to this breach of the contract provide a legal remedy to the aggrieved party against the guilty party. So we can say that all contracts are an agreement but all agreements are not contracts.
