Tamil Nadu Board of Secondary EducationHSC Commerce Class 11th
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Essentials of a Valid Contract

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  • Offer and Acceptance
  • Legal Relationship
  • Lawful Consideration (quid pro quo) 
  • Lawful Object (Section 23)
  • Free Consent (Section 13 & 14)
  • Capacity of Parties (Section 11)
  • Certainty of Terms (Section 29)
  • Possibility of Performance (Section 56)
  • Not declared Void
  • Necessary Legal Formalities 
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