Indian Contract Act - II

As per Section 68 of Indian Contract Act, if necessities are supplied to minor, it is a valid agreement. Minor can also be beneficiary.

The offer can be rejected anytime before it is accepted. The acceptance is made on 10^th March. B can revoke his acceptance anytime before the letter reaches A, i.e. 14^th March.

Agreements with minor are void ab initio, i.e. void agreements.
Void contracts are those which were otherwise valid, but had become void due to certain event.
If a contract fulfills all conditions, it is a valid contract.
A contract is voidable if it is caused by fraud, coercion, etc.

When consent is not free, it is voidable at the option of aggrieved party.
Void contracts are those which were otherwise valid but had become void due to certain event.
If a contract fulfills all conditions, it is a valid contract.

Consent is free if it is given under any such pressure.
Misrepresentation, coercion and undue influence do not result in free consent.

Section 15 in The Indian Contract Act, 1872:
‘Coercion’ is the committing, or threatening to commit, any act forbidden by the Indian Penal Code (45 of 1860) or the unlawful detaining, or threatening to detain, any property, to the prejudice of any person whatever, with the intention of causing any person to enter into an agreement. 

Mistake made by both the parties of contract is bilateral, while mistake by one of the parties is unilateral mistake.

Agreements with minor are void ab initio, i.e. void agreements.
Void contracts are those which were otherwise valid, but had become void due to certain event.
If a contract fulfills all conditions, it is a valid contract.
A contract is voidable if it is caused by fraud, coercion, etc.

A professional is eligible to make a valid contract.
Alien enemies and minors are disqualified by law from making contracts.

Consideration must be at the desire of the promisor only.

A minor can neither become a shareholder nor a principal
However, he can be an agent.

Consent is free if it is given under any such pressure.
Misrepresentation, coercion and undue influence do not result in free consent.

Any active concealment of fact is known as fraud while an innocent concealment amounts to misrepresentations.

It is not coercion.

All of these are examples of such relations.

Coercion as well as fraud are criminal acts.

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Mistake made by both the parties of contract is bilateral, while mistake by one of the parties is unilateral mistake.

It is a case of fraud.