MBAL-105: Legal Aspects in Business – Unit 6

MBAL-105: Legal Aspects in Business – Unit 6

Objectives: describe and identify agreements which are void-ab-intio or become void subsequently; describe uncertain agreements and state whether such agreements shall be valid or not; and explain the contingent contracts.

Materials:
The relevant material is available here.

Questions:

1. “An agreement in restraint of trade is void.” Examine this statement mentioning exceptions if any.
2. Discuss the law regarding wagering agreements under the Indian Contract Act.
3. A promises to marry B only and no one else and in the event of breach agrees to pay Rs. 50,000. A marries C, can B claim Rs. 50,000.
4. What are contingent contracts? State the rules regarding enforcement of such contracts. Give illustrations.