Free Consent | Coercion, Undue Influence, Fraud, Misrepresentation & Mistake | Indian Contract Act

Описание: In this Video We Will Discuss Free Consent(Coercion, Undue Influence, Fraud, Misrepresentation & Mistakes) in Indian Contract Act 1872 for CA Foundation and CA Foundation Business Law Chapter 1 has been discussed by Chandan Poddar Sir for CA Foundation Grooming Education.

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Time Stamp:
0:00 Intro
0:15 Agreement
3:28 Free Consent
8:52 Coercion
27:03 Undue Influence
41:32 Fraud
1:00:44 Misrepresentation
1:10:23 Mistake

Meaning of consent
According to Section 13 of the Indian Contract Act, 1872 consent means when both parties agree to a thing in the same sense of mind or unison of mind.
The principle of consensus-ad-idem

Elements of free consent
Consent is considered to be free consent when the following factors are satisfied:
It should be free from coercion.
The contract should not be done under the pressure of undue influence.
The contract should be done without fraud.
The contract should not be made through misrepresentation.
The contract should not be made by mistake.

Importance of free consent
The contract made out of free consent protects the validity and enforceability of an agreement.
It provides a protecting shield to the parties from coercion, undue influence, misrepresentation, fraud, and mistake
It provides the parties to withstand their autonomous power to frame their running policy or principle.
The principle of consensus-ad-idem is followed.

Unilateral Mistake, Bilateral Mistake
A mistake is said to be unilateral when one party is mistaken in the agreement.

Coercion
When a person commits or threatens to commit an act which is forbidden under the Indian Penal Code, or detains an object unlawfully or threatens to do so with the intention to force a person to enter into a contract, then it is said to be coercion.

Undue influence
When a contract is made between two parties and one of them is in the position to dominate the will of the other party and takes unfair advantage of the position, then the contract is said to be made out of undue influence.

Fraud
Fraud means an action that includes the false assertion of facts, concealment of facts and any promise with the intention to deceive a person.
According to Section 17 of the Indian Contract Act, 1872 when a party contracts with the other party with the intention to deceive amounts to fraud. The party may directly make the contract with the other party or it can be done with the help of an agent even.

Misrepresentation
Misrepresentation means a false representation of the fact.
According to Section 18 of the Indian Contract, Act Misrepresentation is the stating of deceiving information which results in the assertion of the other party into entering into a contract and subsequently undergoing loss. The information, however, presented by the guilty party is a result of genuine belief about the matter.

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