The Indian Contract Act, 1872, defines the rules and regulations governing contracts in India. The act outlines all the aspects of a valid contract, including the terms and conditions, the parties involved, and the consequences of a breach of contract.
One of the important provisions of the Indian Contract Act is the declaration of agreements that are void. A void agreement is one that is not enforceable by law. It is very important to understand these kinds of agreements, as they can create legal problems if relied upon.
Here are the different kinds of agreement declared void by the Indian Contract Act:
1. Agreements made by minors: A minor is a person who has not yet attained the age of majority, which is 18 years in India. An agreement entered into by a minor is void ab initio, which means it is void from the beginning. This is because minors are not considered legally competent to enter into a contract.
2. Agreements made under coercion: An agreement is considered void if it is signed under duress or coercion. In such cases, one party forces the other party to enter into the agreement against their free will. Therefore, the act of coercion or undue influence makes the agreement void.
3. Agreements made under undue influence: An agreement entered into by a party who is under the undue influence of another party is void. This happens when one party takes advantage of the other party`s mental or emotional weakness or vulnerability.
4. Agreements made by persons of unsound mind: A person of unsound mind is someone who is not able to understand the terms and conditions of a contract. Therefore, any agreement entered into by such a person is void.
5. Agreements that are against public policy: An agreement is considered void if it is against public policy. This includes agreements that promote illegal activities, harm the public interest, or are against the moral and ethical values of Indian society.
6. Agreements that are impossible to perform: An agreement is void if it is impossible to perform. For example, if an agreement requires a person to do something that is beyond their capabilities, it is considered void.
In conclusion, understanding the kinds of agreements declared void by the Indian Contract Act is essential for anyone who wants to enter into a legal contract. A void agreement has no legal standing, and therefore, it is important to ensure that all agreements are legally valid and enforceable. As a professional, it is important to use the right keywords and phrases when writing articles on legal topics to ensure that they rank high on search engine results pages.