Topics of Law T...

The chief flaw in contract is/are_____.

Any contract beyond the power of Charter or MOA is_____.

________is a false statement which the person making it honestly believes, to be true.

When one of the parties to contract commits misrepresentation or fraud, contract is _______.

______ is an untrue statement made knowingly or without belief in its truth or recklessly, carelessly, whether it be true or false with the intent to deceive.

In order to avoid a contract on the ground of misrepresentation, it is necessary to prove that_____.

Where there is mistake as to existence of the subject matter, the contract is______.

The law of contract in India is contained in _______________.

Mistake as to identity of the subject matter, the contract is______.

Legal Principle: An agreement made with the intention of entering into legal relationship gives rise to a contract.
Factual Situation: Two firms entered into a written contract for the sale and purchase of tissue paper. The agreement contained a clause to the effect that 'this agreement is not entered into, nor is this memorandum written, as a formal or a legal document, and shall not be subject to legal jurisdiction in the law courts'. Since the goods were not delivered, the buyers brought an action for non-delivery.
Issue: Are the sellers liable?