As this is a contract of personal nature the legal representative of B cannot demand performance of the promise from A.
Which person can be demand performance of contract?
Promisee – only a promisee can demand performance and not a stranger demand performance of the contract. Legal Representative – legal representative can demand Exception performance. The contrary intention appears from the contract. The contract is of a personal nature.
Who may perform and demand a contract as per the Act?
There are at least two parties to a contract, a promisor, and a promisee . A promisee is a party to which a promise is made and a promisor is a party which performs the promise. Three sections of the Indian Contract Act, 1872 define who performs a contract – Section 40, 41, and 42.
Who should perform a contract?
In the contract, it is to be shown that the intention of the parties that the promise should be performed by the promisor himself . Such a promise is to be performed by the promisor.
What type of contract is a promise for a performance?
In a unilateral contract , an agreement by which one party makes a promise in exchange for the other’s performance, the performance is consideration for the promise, while the promise is consideration for the performance. Consideration must have a value that can be objectively determined.
What are the rules of performance of contract?
Performance of a contract is the fulfilment of the contractual obligations by the parties. It is one of the methods to discharge a contract. It must be unconditional in nature – Unconditional means that neither should any extra conditions be attached to the contract nor should any existing condition be altered.
What is the performance of a contract?
Performance, in law, act of doing that which is required by a contract . The effect of successful performance is to discharge the person bound to do the act from any future contractual liability. Each party to the contract is bound to perform promises according to the stipulated terms.
Who is not eligible for contract?
Minor is not eligible to enter into a contract. Minors are individuals who are under the age of 18. Minors are not considered to have legal capacity, meaning they do not have the ability to make contracts with other people. If a minor signs a contract, they have the ability to void the deal with certain exceptions.
What comes first in a valid contract?
The first element in a valid contract would be offer . An offer or a promise or an agreement needs to be in contract because if there is no offer than there will be no contract.
What is the reasonable time for performance of contract?
Time for performance of promise, where no application is to be made and no time is specified. —Where, by the contract, a promisor is to perform his promise without application by the promisee, and no time for performance is specified, the engagement must be performed within a reasonable time .
What creates a contract?
A contract is a legally enforceable agreement between two or more parties that creates an obligation to do or not do particular things . The term “party” can mean an individual person, company, or other legal entity.
Who can perform a promise under contract?
If it appears from the nature of the case that it was the intention of the parties to any contract that any promise contain in it should be performed by the promisor himself , such promise must be performed by the promisor. In other cases, the promisor or his representatives may employ a competent person to perform it.
Is breach a contract?
A breach of contract occurs when one party in a binding agreement fails to deliver according to the terms of the agreement . A breach of contract can happen in both a written and an oral contract. The parties involved in a breach of contract may resolve the issue among themselves, or in a court of law.
What are the conditions of performance?
A performance condition is any situation that can alter the exercisability or vesting of an equity-based award , or other factors that impact the award’s fair value. A performance condition relates to either the time period over which an employee provides services, or the completion of a targeted performance goal.
What are the 3 requirements of consideration?
Each party must make a promise, perform an act, or forbear (refrain from doing something) .
What will happen if consideration is missing in an agreement?
In simple words, no consideration no contract . Hence, you can enforce a contract only if there is a consideration. While considerations are integral to a contract, the Indian Contract Act, 1872 has listed some exceptions whereby an agreement made without consideration will not be void.
