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1-PROLOUGE
Nowadays are the world of business for the benefit of society and leniency of maintaining of these transactions there is need to make laws for reconvert of rights of parties THE CONTRACT ACT 1872 provides laws.
2-INTERPRETATION OF RELEVANT TERMS
a- Proposal
I-literal meaning
“To suggest”
“To bid”
Ii-legal meaning
BY BLACKS LAW DICTIONARY
Something offered for consideration
b- Acceptance
i-literal meaning
“to follow something’
ii-legal meaning
BY BLACKS LAW DICTIONRY
“an offerees’ assent by express act or by
implication of conduct
3-STATUTORY DEFINITIONS OF TERMS
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a- PROPOSAL
By section 2(a)
“When one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that other to such act or abstinence, he is said to make a proposal”
b- ACCEPTENCE
By section 2(b)
“When the person to whom the proposal is made signifies his
assent there to, the proposal is said to be accepted”
c- PROPOSAL
By section 2(b)
“When the proposal is accepted becomes a promise”
d- Agreement
BY section 2(e)
“Every promise or every set of promises, forming the consideration of each other”
4--ESSENTIALS OF PROPOSAL
i- Absolute
ii- clear
iii- made by offeree
iv- specific or general offer
v- Precise and definite
vi- lawful
vii- distinction between offer & invitation to offer
5- PARTIES OF OFFER
i- promisor
ii- promisee
6-TYPES OF PROPOSAL
i-express
ii-implied
iii-special
iv-general
7-ESSENTIALS OF VALID ACCEPTENCE
i-by authorized person
Ii-express or implied
Iii-absolute & unqualified
Iv-in prescribed mode
V-communication of intention
Vi- revocation before acceptance
Vii-ignorance of proposal
viii-within time period
8-PARTIES OF ACCEPTENCE
i- promisor
ii- promisee
9-COMMUNICATION OF PROPOSAL & ACCEPTENCE
sec: 3
ASE LAW
2008mld 577 Lahore high courts
“Communication of proposal and acceptance are deemed to
be by an act or omission of party proposing or accepting by which he intends to communicate such proposal and acceptance -----mere acceptance without communicating the same cannot be binding”
sec:4 COMMUNICATION WHEN COMPLETE
CASE LAW
2007 clc 462 Karachi high court
“Contract is complete only upon acceptance of offer which acceptance should be absolute and unqualified; is the communication of offer and intimation of its acceptance which creates contract”
i)of proposal
a)explanation
b) Illustration
ii)of acceptance
a)explanation
b)illustration
10- REVOCATION OF PROPOSAL
sec : 5;
CASE LAW
2005 ylr 1443 Lahore high court
“if the acceptance of offer of the bidder is not communicated to him no conclude contract comes into being”
a) explanation
b) illustration
11-REVOCATION OF ACCEPTENCE
sec:5;a)explanation
b) illustration
12- REVOCATION HOW MADE
sec :6; a)by notice
b)by laps of time
c)by death or insanity
13-REVOCATION HOW MADE
sec:6
CASE LAW
1997pld 59 Peshawar high court
“proposal in question , having been accepted after prescribed time would be deemed to be recovered by conduct of parties”
14- TRANSFORMATON OF PROPOSL INTO ACCEPTENCE
[IMG]file:///C:\DOCUME~1\ZOHAIB~3.ZOH\LOCALS~1\Temp\msohtmlclip 1\01\clip_image001.gif[/IMG]OFFER
[IMG]file:///C:\DOCUME~1\ZOHAIB~3.ZOH\LOCALS~1\Temp\msohtmlclip 1\01\clip_image002.gif[/IMG] COMMUNICATION OF
[IMG]file:///C:\DOCUME~1\ZOHAIB~3.ZOH\LOCALS~1\Temp\msohtmlclip 1\01\clip_image003.gif[/IMG] Proposal & Acceptance
Promise
15-CONCLUSION
2008 mld 577 Lahore high court
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