There are three types of contracts that are validly sublime, which is a legally enforceable agreement; The nullity contract is a contract that is not applicable and the contract cancelled, valid at the choice of the aggrieved party. If he did not consent, he would be rescinded. According to Section 17, fraud is therefore the case when one party convinces another party to enter into an agreement by defining the contracts as an agreement between two or more parties, which is legally applicable. Therefore, it should be noted that only agreements that can be enforced by law can be referred to as contracts. The agreement must meet certain essential conditions, in accordance with Section 10 of the Indian Contracts Act, in order to be enforceable. These conditions are – If there is no agreement, there can be no contract and the contract is considered null and void. These 5 elements of free consent are taken into account below in the necessary details – sections 13 and 14 of the Contracts Act define consent or free consent. The section 13 agreement must be obtained when two or more people agree to the same thing. The elements that need to be explained are also given under the Indian Contracts Act and are coercion (section 15), undue influence (section 16), fraud (section 17), incorrect presentation (section 18) or error (sections 20, 21 and 22). The creation of a valid contract therefore requires the free consent of both parties. Unacceptable influence is the exercise of a power or position of control on the part of a person who has a fiduciary relationship with the other party or a person with authority.
Another aspect of consent is the need for information, and to achieve this, it is good that there is no fraud or misrepresentation. An understanding would occur if there were no error on the part of both parties in understanding the terms of the agreement. Contracts are the most complex part of every transaction and must be treated with such care. A contract is void if there is no free will. Typical reasons for the nullity of a contract are coercion, inappropriate influence, misrepresentation or fraud. A contract entered into by a minor is often cancelled, but a minor can only circumvent a contract during his minority status and for a reasonable period of time after reaching the age of majority. After a reasonable period of time, the treaty is considered ratified and cannot be avoided. [1] Other examples would be real estate contracts, lawyers` contracts, etc.