TYPES OF

CONTRACTS
PRESENTED BY
ARATHY VIKRAM

CONTRACT
An agreement creating and defining
obligations between the parties
Sir John Salmond

Classification of Contracts
Validity
Formation
Performance

VALIDITY

VALID CONTRACTS
VOID CONTRACTS
VOID AGRREEMENTS
VOIDABLE CONTRACTS
UNENFORCEABLE CONTRACTS
ILLEGAL CONTRACTS

 FORMATION
EXPRESS CONTRACTS
IMPLIED CONTRACTS
QUASI CONTRACTS

 PERFORMANCE

EXECUTED CONTRACTS
EXECUTORY CONTRACTS
UNILATERAL CONTRACTS
BILATERAL CONTRACTS

 VALIDITY

VALID CONTRACTS
VOID CONTRACTS
VOID AGRREEMENTS
VOIDABLE CONTRACTS
UNENFORCEABLE
CONTRACTS
ILLEGAL CONTRACTS

VALID CONTRACTS
All agreements are contracts if they
are made by the free consent of the
parties competent to contract for a
lawful consideration and with a lawful
object and are not hereby expressly
declared to be void

 Essentials of a valid contract

Agreement
Free consent
Contractual capacity
Lawful consideration
Lawful object
Agreement not declared void

VOID CONTRACTS
A contract which ceases to be enforceable by law
becomes void when it ceases to be enforceable.
Eg: a contract to import goods from a foreign
country. it may subsequently becomes void when
a war breaks out between the importing and
exporting countries

VOID AGREEMENTS
A void agreement does not create any legal rights
or obligations.
it is void from the very beginning
Eg: an agreement with minor

VOIDABLE CONTRACTS
It is a contract with a flaw of which the aggrieved
party may, at his option take benefit
He has the option either to affirm it and elect to
carry out contract inspite of the defect or to reject
it.
The other party will have no right to avoid it
The contract shall remain valid so long as it is not
repudiated or avoided by the party entitled to do so

UNENFORCEABLE
CONTRACTS
An enforceable contract is a contract which is
valid in itself but cannot be enforced in a court of
law owing to some technical defects like absence
of writing, attestation, registration, want of
requisite stamp, expiry of time etc
Some of them can be enforced if the technical
defect is removed.

ILLEGAL CONTRACTS
It is an agreement which go beyond
Some rules of basic public policy
Which is criminal in nature
Which is immoral

 FORMATION

EXPRESS CONTRACTS
IMPLIED CONTRACTS
QUASI CONTRACTS

EXPRESS CONTRACTS
Contracts entered into between the parties by
words spoken or written or termed as express
contracts.
Parties make oral or written declaration of their
intentions and of the terms of transaction
Eg: A writes to B.I am prepared to sell my cycle
for a sum of rs 1000.B accepts As offer by a
telegram.

IMPLIED CONTRACTS
Contracts which come into being on account of
the act or conduct of the parties and not by their
express words, written or spoken
Eg: A takes seat in a bus. Their is a implied
contract that he will pay the prescribed fare for
taking him to his destination.

QUASI CONTRACTS
These are not contracts in fact but are
enforceable as contracts in equity because a
person cannot be allowed to enrich himself at the
expense of another
When a person has paid a sum of money to a
third person tto the use of defendant
Where money has been paid on a consideration
which has totally failed
Where money has been wrongfully obtained by
one to which the other is legally entitled to,the
latter can recover it from the former

 PERFORMAN
CE

EXECUTED
CONTRACTS
EXECUTORY
CONTRACTS
UNILATERAL
CONTRACTS
BILATERAL
CONTRACTS

EXECUTED CONTRACTS
Executed means that which is done". hence an
executed contract is one in which both parties
have performed their respective obligations.
Eg : A agrees to paint a picture for B for
Rs.100.when A paints the picture and B pays the
price ,when both the parties perform their
obligations ,the contract is said to be executed.

EXECUTORY CONTRACTS
Executory means that which remains to be
carried into effect". hence an executory contract
is one in which both the parties have yet to
perform their obligations.
A agrees to paint a picture for B and B in
consideration promises to pay A, a sum of
rs.100.the contract is executory

UNILATERAL CONTRACTS
A contract is said to be unilateral where one party
has performed his obligation either before or that
time when the contract comes into existence. it is
only the obligation of the other party which
remains outstanding at the time of formation of
the contract.
Eg: A a porter puts Bs luggage in the carriage.
The contract comes into existence as soon as the
luggage is put .it is now for B to perform his
obligation by paying the charges to the porter.

BILATERAL CONTRACTS
A contract is bilateral if the obligations of both the
parties are outstanding at the time of the formation
of the contract
They are executory contracts or contracts with
executor consideration.
Eg: A promises to sell his car to B after 15 days
promises to pay the price on the delivery car. The
contract is bilateral as obligations of both the
parties are outstanding at the time of formation of
the contract

THANK YOU