Practicing Success
Consider the passage given below and answer the question. An agreement not enforceable by law is said to be void. To consummate a contract there must be mutuality as well as a meeting of the minds of parties. Mutuality means equality of rights between the parties. Either party should have equal right to enforce the contract. For instance, where one of the parties to a contract is minor, there is no mutuality. Further, in a contract there is a consensus ad idem which means ‘meeting of minds’. According to Salmond, ‘A contract is an agreement creating and defining obligations between the parties’. |
For binding contract both the parties to the contract must: |
Agree with each other
Stipulate their individual offer and consideration
Agree upon the same things in the same sense
Put the offer and counter offers |
Agree upon the same things in the same sense |
Consent is an important criterion while entering into a contract. When two persons agree on the same thing in the same sense, it is termed as consent (Section 13). Consent should be free and not caused by coercion, undue influence, misrepresentation, fraud or mistake. If consent is obtained by the influence of any one of the above said, then the consent so obtained is not free. It becomes voidable (avoid enforcement of contact) for the person whose consent is not free. |