law of contract

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law of contract by Mind Map: law of contract


1.1. when the person to whom the proposal is made signifies his assests thereto

1.2. a proposal,when accpeted,become a promise


2.1. known as value for a promise

2.2. willingness to abstain from doing something can constitute consideration

2.3. need to be quantified in term of money

2.4. promise in return for a promise made by the others party can also constitute consideration

2.5. exception

2.5.1. natural love and affection an agreement made on account of love and affection between tha parties standing in a near relation to each other need not be supported by consideration provided


4. acceptance distinguished from the counter offer

4.1. when an offer accept an offer,he is said to have made known to the offeror that he agrees to the term of the offer

4.2. when on offeree makes a counter offer,he or she destroys the original offer

5. communication of the acceptance and postal acceptance rule

5.1. acceptance must be communicate

5.2. brought to the notice of the offeror

5.3. acceptance can be by word or by conduct

6. uniliteral offer

6.1. acceptance by a performance

6.2. an offeree who is wish to accept a uniliteral offer merely has to perform the condition in the offer

7. postal acceptance rule

7.1. when an offeree uses a letter or a telegram to communicate his acceptance,its complete from the moment of posting

8. silence amount to the acceptance

8.1. section 3 CA 1950,acceptance can be made by any act or omision of the offeree by which he intend to communicate the acceptance or which has the effect of communicating it

9. revocation of acceptance

9.1. an offeree cannot be revoke his acceptance once it has been communicated to the offeror


10.1. An oral contract is a contract, the terms of which have been agreed by spoken communication. This is in contrast to a written contract, where the contract is a written document.

10.2. agreement between two parties that is legally


11.1. S2 a contract act 1950 ,when a person shows his willing to do something of value,he can makes a proposal or an offer

12. offer

12.1. can be made in writing or can be orally or by a telephone conversation or can be in walk in enquiry too

12.2. offeror , a person who makes an offer to others

12.3. offeree,a must to whom an offer is made an offer must be communicated to the offeree.

13. types of offer

13.1. uniliteral

13.1.1. when an offer makes a uniliteral offer

13.2. bilateral

13.2.1. one where the offeree is identifiable

14. request or supply of information

14.1. occurs when a person seeks information in order to decide whether to make an offer

14.2. when there is a reply to a request for a information

15. revocation of an offer

15.1. offer can be revoked due to lapse of time