contract, which is contrary to public policy, may be rejected by the Court, even if this contract is beneficial for all the contracting parties – Which recitals and objects are lawful and what are not – Newar Marble Industries Pvt. Ltd. Vs. Rajasthan State Electricity Board, Jaipur, 1993 Cr. L.J. 1191 at 1197, 1198 [Raj.] – Which object or consideration against public policy, Was illegal and null and void – What could be better and what could be more may be an admission that the consideration or purpose of the compound interest rate agreement was the board of directors` failure to sue the petitioning company for an offence under section 39 of the Act, and that the board of directors turned the breach into a source of profit or benefit to itself. That recital or object is manifestly contrary to public policy, with the result that the agreement on the compound interest rate referred to in Article 23 of the Law is unlawful and inconclusive. It is not enforceable against the petitioners` society. The Supreme Court repeated the same thing in Alka Bose against Parmatma Devi & Ors [CIVIL COURT OF APPEAL No. 6197 OF 2000], the court having decided that even a contract of sale could be oral and that it had the same binding value and applicability as a written agreement. The agreement should comply with the principles set out in section 10 of the Indian Contract Act 1872 and, therefore, have the same probative value as a letter.
A promise is essentially an offer or proposal made by one person or company to another person. The agreement of the other gives rise to the acceptance of the offer; The result is an agreement. The Indian Contract Act, 1872 imposes the Contracts Act in India and is the most important law governing contract law in India. The law is based on the principles of English common law. It applies to all states of India. It determines the circumstances in which the commitments of the parties are legally binding. In accordance with section 2(h), the Indian Contract Act defines a contract as a legally enforceable agreement. 7. Contract 2 (h): A legally enforceable agreement is a contract. On the other hand, oral agreements consist of words, gestures, symbols by which one party transmits a commitment or a series of promises to another party which, if adopted by the other party, becomes a valid oral agreement.
They can express or involve in nature. Oral agreements in force are final before the courts. However, it is not of great probative value, as the agreement is understood by word of mouth and obtained by second-hand knowledge. In the event of a dispute or appeal, it is difficult for the Tribunal to establish the true nature of the facts and conditions of the agreement, without bias. Under the 1872 Act, a valid oral agreement is valuable and can be brought to justice. However, it is still difficult to prove the existence or exact terms of the agreement in the event of a dispute. Thus, oral chords, although they may resemble a swamp bag, can be proven in court by several clues. . .