Contract Law: Vitiating Factors and Remedies

CONTRACT LAW

EXECUTIVE SUMMARY
Contract is mainly related to the deal which is attained between the parties regarding
exchanging any valuable things and also promise is made between the parties regarding fulfilling
the terms and condition in right way. Thus, the term valid contract refers to the contract which
are legally binding and enforceable upon the parties to follow it in the set norms which is
mentioned under the contract act. The contract is said to be void, if it is illegitimate or not
enforce as per the set direction which is decided between both the parties. In this report, the
matter is covered under the aspects relating to the vitiating factors such as misrepresentation,
duress, mistake or under influence. Theses are the most common issues which violates the right
of the parties and thus it results in making the contract void.
As the vitiating factor raises when one party commit breach regarding earning extra
profits and this can be attained through not disclosing the accurate information or forcing other
person to deal into such contract which carries no interest of them. Thus, to get relief from such
illegal activity or violation of the terms of the contract, the parties carry various right regarding
availing the remedies which is provided under the contract act. The mots common remedies is
relating to filling suit regarding paying compensation for the losses incurred or rescission of the
contract by which the parties are kept on the same position, which they are before engaging into
any such contract. But in case of using the recession remedies in easier way, court impose certain
exclusion and thus parties can apply for rescission, if their rights are violated through
undertaking any of the vitiating factor.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
CONTRACT LAW..........................................................................................................................4
CONCLUSION................................................................................................................................9