Citing examples, write brief notes on the following:
• Contract under seal:
This is a contract drawn and sealed by a party and submitted to the other for signature. Such is a contract requires on consideration. Example include lease agreement, charge, mortgage.
• Contract which must be in writing:
This is a contract which must be embodied in a formal document. The law insists that it must be written. Examples include, hire purchase agreement, contract of marine insurance.
• Contract which must be evidenced in writing
This is a contract which must be evidenced by some note or memorandum. The law does not prescribe the form of note or memorandum. Examples include:
- Contracts of insurance other than marine,
- Contract of guarantee
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