The Indian Contract Act, 1872: Capacity of Parties and Consideration
After reading this chapter, you will be able to understand:
- Capacity of parties to enter into contract
- Effects of minor’s agreement
- Person disqualified to enter into contract
- Consideration and its rules
- Valid contracts without consideration
3.1 CAPACITY OF PARTIES
As per Section 10, all agreements are contracts, if they are made by the parties competent to contract. The competency of parties is one of the essential elements of the valid contract. The capacity of parties to the contract means the legal ability of the parties to enter into a contract.
3.1.1 Who Are Competent to a Contract?
Section 11 specifies the persons who are competent to contract. ...