What do you mean by tort and third party liabilities? Describe various type of contract.

A tort is a civil wrong (not a crime) that causes harm or loss to someone, making the wrongdoer legally liable to compensate the victim. It is based on the idea that people should be held responsible for their actions if they hurt others.

Examples of Torts:

  • Negligence: A doctor fails to diagnose a patient correctly, causing harm.
  • Defamation: Spreading false rumors that damage someone’s reputation.
  • Nuisance: A factory causing excessive noise or pollution affecting neighbors.

Third Party Liabilities

This refers to legal responsibility where one person or organization is held accountable for damages caused to someone else (the “third party”) due to their actions or negligence.

Types of Contract

1. Express Contract

Terms are clearly stated (written or spoken).
Example: Signing a lease agreement for a house.

2. Implied Contract

Not written or spoken, but understood by actions.
Example: Eating at a restaurant → You must pay the bill.

3. Quasi-Contract

Not a real contract, but the court enforces fairness.
Example: If a doctor saves an unconscious patient, the patient must pay later.

4. Valid Contract

Meets all legal requirements (offer, acceptance, consideration).
Example: Buying a phone with a proper receipt.

5. Void Contract

Not enforceable by law from the beginning.
Example: An agreement for illegal activities (like smuggling).

6. Voidable Contract

One party can cancel if they were tricked or forced.
Example: A teenager pressured into signing a bad deal.

7. Unenforceable Contract

Seems valid but can’t be enforced due to legal issues.
Example: A contract not signed properly.

8. Executed Contract

Both parties have fulfilled their duties.
Example: After paying for a pizza and receiving it.

9. Executory Contract

Still in progress; obligations are not yet completed.
Example: A 12-month gym membership where you pay monthly.

10. Bilateral Contract

Both parties make promises to each other.
Example: A job offer (employer pays salary, employee works).

11. Unilateral Contract

One party promises something if the other performs an action.
Example: A reward for finding a lost dog.

12. E-Contract

Made online (via email, apps, or websites).

Example:

If a delivery driver working for a company hits a pedestrian, the company (employer) may be held liable (third-party liability) for the driver’s mistake.

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