Project Report
on
Void Agreements
CONTENTS
1. Introduction
2. Agreement with unlawful object and consideration (sec 23, 24)
3. Agreement without consideration (sec 25)
4. Agreement in restraint of marriage ( sec 26)
5. Agreement in restraint of trade (sec 27)
6. Agreement in restraint of legal proceedings (sec 28)
7. Agreement which is ambigous and uncertain (sec 29)
8. Agreement by way of wager (sec 30)
INTRODUCTION
The agreements which are expressly declared to be void by the Indian Contract Act are called void agreements. Even if such agreements satisfy the conditions of a valid contract, they are not enforceable. They are:
▪ Agreement with unlawful object and consideration (sec 23, 24)
▪ Agreement without consideration (sec 25)
▪ Agreement in restraint of marriage ( sec 26)
▪ Agreement in restraint of trade (sec 27)
▪ Agreement in restraint of legal proceedings (sec 28)
▪ Agreement which is ambigous and uncertain (sec 29)
▪ Agreement by way of wager (sec 30)
I. Agreement with unlawful object and consideration (sec 23)
Every agreement of which the object or consideration is unlawful is void. According to sec 23,The consideration or object of an agreement is lawful unless:
1. It is forbidden by law
2. Is of such nature that, if permitted, would defeat the provisions of law,
3. Is fraudulent,
4. Involves or implies injury to the person or property of the another,
5. The court regards it as immoral,
6. Opposed to the public policy.
II. Agreement without consideration (sec 25)
Presence of consideration is one of the essentials of a valid contract and an agreement without consideration is considered to be void. According to Sec 25, subject to exceptions, the agreement without consideration is void. The exceptions are:
1. Promise out of natural love and affection
2. Compensation for past...