Law of Contract and Obligation
In Part 5 of the Civil Code 2074, provisions related to contracts and contractual obligations have been made. In addition, the same code defines the contract and also distinguishes the essential elements and types of the contract. Section 504 of the Civil Code 2074 states that “two or two
If there is an enforceable agreement between more than one person to do or not to do something, it will be considered as a contract. It also includes an offer made by one person to enter into a contract with another person
It has guaranteed that a binding legal relationship will be maintained between the parties to the agreement after the approval is given and the agreement is signed.
According to the contract law, the following should be in order to implement its terms:
(a) consent expressed by the contracting party to bind himself;
b) The capacity or competence of the contracting party to enter into the contract,
(c) Certain matters creating liability,
d) Legal obligations.
A contract concluded between two persons shall be void if it is confirmed that there has been coercion, undue influence, forgery and fraud. Contracts made with minors and non-residents are automatically void. The Civil Code 2074 of various types of contracts defined, which is as follows:-
1. Contract for Sale of Goods:-
If a seller agrees to transfer an item to the buyer immediately or to transfer it in the future after taking the price, it will be considered as a contract related to the sale of the item.
2. Agreement relating to surety ship:-
If a person does not pay or fulfill the debt taken or the liability accepted by a person, it will be considered as an agreement related to guarantee if the third party will pay or fulfill it. If the debtor defaults or completes the debt guaranteed by a third party
If the obligation is not fulfilled, the person who guarantees the loan or obligation must fulfill the conditions according to the contract. The terms of the bail shall be as stipulated in the contract. The contract related to bail must be in writing.
3. Naso Agreement:-
A contract shall be deemed to have been entered into when a person gives another person an item back to him or allows him to keep an item to be transferred or sold to someone else as per his wish.
4. Agreement relating to mortgage or pledge:-
If a person gives a loan to someone and takes a pledge to secure such a loan, it will be considered as a mortgage agreement and if someone pledges something as a surety for the completion of such work, it will be considered as a pledge agreement.
If a mortgage is taken while giving a loan, such loan and its interest, and if a pledge is taken to complete any work, other expenses related to such work and the expenses incurred in taking care of the mortgaged or mortgaged item can be entered into a mortgage or pledge agreement.
5. Agency Agreement:-
A person who appoints a person to do any work on his behalf, to conduct business as a representative (agent), to conduct any business with a third person, to represent himself before such a person or to appoint a representative, except in matters related to his personal competence.
A representative may be appointed to establish any kind of legal relationship between (the main person) and the third person, and the appointment of a representative will be deemed to be an agency agreement.
6. Contract of Carriage:-
If there is an agreement regarding the transportation of an item from one place to another, it will be considered as a transportation agreement. Except as otherwise provided in the contract, in the case of carriage of goods, the shipper shall be entitled to the receipt or compensation given by the owner of the goods at the time of delivery of the goods to the shipper.
And it will be considered as proof that there is a contract between the owner of the item.
7. Lease Agreement:-
A lease agreement shall be considered as an agreement to allow a person to enjoy and use the benefit obtained from it for a certain period of time on the condition that a person has his right and property to be regularly restored to another person. In the case of a lease agreement, unless otherwise stipulated in such agreement, the lessor (lessor) shall ensure the following things to the lessee
a) Handing over a certain item for enjoyment in accordance with the agreement,
b) Keep the said transferred item in working condition so that it can be enjoyed or used at the time of transfer,
c) To arrange that the transferred item can be enjoyed or used in a peaceful and unrestricted manner. It cannot be leased out or consumables that are perishable while using it.
8. Hire Purchase Agreement:-
A hire purchase agreement shall be deemed to exist when someone hires an item to any person under the following conditions:-
a) The lessee shall have the right of usufruct in the leased goods by the owner of the goods paying the amount in installments periodically,
b) The leased item can be purchased by the lessee as per the terms of the contract,
c) Ownership of such item shall be transferred to the lessee after payment of the final installment amount,
d) The lessee may terminate the contract at any time prior to the transfer of ownership in accordance with clause (c). In this way, in case of violation of all types of contracts mentioned above or in case of non-compliance with the terms of the contract, if any party is aggrieved, the aggrieved person can file a complaint or lawsuit within 2 years.