Write a note on Valid Contract?

Q. VALID CONTRACT
A contract is an agreement which is enforceable by law, Agreement may be valid or may
be valid but contracts are valid or void able.
Sec 10- All agreement are contracts if they are made
1. by the free consent
2. Of the parties competent to contract.
3. For a lawful consideration and lawful object.
4. are not expressly declared to be void.
Ingredients of a valid contract:
1) Free consent – Sec. 13 = 22
2) Competency of the Parties – Sec. 11 & 12
3) Lawful consideration and object – Sec. 23 = 25
4) Not expressly declared to be void – Sec. 26 = 30
All these ingredients must be present for a valid contract. They must co-exist with
each other. They must be conjunctive and not disjunctive.
Competency of the parties Sec. 11 & 12:
All the parties must be competent to contract
Sec. 11: Every person is competent to contract who is:
1. Of the age of majority
2. Who is of round mind, and
3. Is not disqualified from contracting.