Vodafone Acquire Hutch free essay sample

Merger is defined as combination of two or more companies into a single company where one survives and the others lose their corporate existence. The survivor acquires all the assets as well as liabilities of the merged company or companies. Generally, the surviving company is the buyer, which retains its identity, and the extinguished company is the seller. Acquisition in general sense is acquiring the ownership in the property. In the context of business combinations, an acquisition is the purchase by one company of a controlling interest in the share capital of another existing company. Purpose of Mergers Acquisitions (1) Procurement of supplies: 1. To safeguard the source of supplies of raw materials or intermediary product; 2. To obtain economies of purchase in the form of discount, savings in transportation costs, overhead costs in buying department, etc. 3. To share the benefits of suppliers economies by standardizing the materials. (2) Revamping production facilities: 1. To achieve economies of scale by amalgamating production facilities through more intensive utilization of plant and resources; 2. We will write a custom essay sample on Vodafone Acquire Hutch or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page To standardize product specifications, improvement of quality of product, expanding 3. Market and aiming at consumers satisfaction through strengthening after sale Services; (3) Market expansion and strategy: 1. To eliminate competition and protect existing market; 2. To obtain a new market outlets in possession of the offeree; 3. To obtain new product for diversification or substitution of existing products and to enhance the product range; (4) Financial strength: 1. To improve liquidity and have direct access to cash resource; 2. To dispose of surplus and outdated assets for cash out of combined enterprise; 3. To enhance gearing capacity, borrow on better strength and the greater assets backing; (5) General gains: 1. To improve its own image and attract superior managerial talents to manage its affairs; 2. To offer better satisfaction to consumers or users of the product. (6) Own developmental plans: The purpose of acquisition is backed by the offeror company’s own developmental plans. A company thinks in terms of acquiring the other company only when it has arrived at its own development plan to expand its operation having examined its own internal strength where it might not have any problem of taxation, accounting, valuation, etc. (7) Strategic purpose: The Acquirer Company view the merger to achieve strategic objectives through alternative type of combinations which may be horizontal, vertical, product expansion, market extensional or other specified unrelated objectives depending upon the corporate strategies. Types of Mergers (A)Vertical combination: A company would like to takeover another company or seek its merger with that company to expand espousing backward integration to assimilate the resources of supply and forward integration towards market outlets. The acquiring company through merger of another unit attempts on reduction of inventories of raw material and finished goods, implements its production plans as per the objectives and economizes on working capital investments. (B)Horizontal combination: It is a merger of two competing firms which are at the same stage of industrial process. The acquiring firm belongs to the same industry as the target company. C)Circular combination: Companies producing distinct products seek amalgamation to share common distribution and research facilities to obtain economies by elimination of cost on duplication and promoting market enlargement. (D)Conglomerate combination: It is amalgamation of two companies engaged in unrelated industries like DCM and Modi Industries. The basic purpose of such amalgamations remains utilization of financial resources and enlarges debt capacity through re-organizing their financial structure so as to service the shareholders by increased leveraging and EPS, lowering average cost of capital and thereby aising present worth of the outstanding shares. BACKGROUND Vodafone India, formerly Vodafone Essar and Hutchison Essar, is the second largest mobile network operator in India after Airtel. It is based in Mumbai, Maharashtra and which operates nationally. It has approximately 146. 84 million customers as of November 2011. On July 2011, Vodafone Group agreed terms for the buy-out of its partner Essar from its Indian mobile phone business. The UK firm paid $5. 46 billion to its Indian counterpart to take Essar out of its 33% stake in the Indian subsidiary. It will leave Vodafone owning 74% of the Indian business, while the other 26% will be owned by Indian investors, in compliance with Indian law. On 11 February, 2007, Vodafone agreed to acquire the controlling interest of 67% held by Li Ka Shing Holdings in Hutch-Essar for US$11. 1 billion, pipping Reliance Communications, Hinduja Group, and Essar Group, which is the owner of the remaining 33%. The whole company was valued at USD 18. 8 billion. The transaction closed on 8 May, 2007. It offers both prepaid and postpaid GSM cellular phone coverage throughout India with good presence in the metros. Vodafone India provides 2. 75G services based on 900 MHz and 1800 MHz digital GSM technology. Vodafone India launched 3Gservices in the country in the January-March quarter of 2011 and plans to spend up to $500 million within two years on its 3G networks. COMPANY PROFILE Hutchison Essar (1992-2007) In 1992, Hutchison Whampoa and its Indian business partner – Max Group, established a company that in 1994 was awarded a licence to provide mobile telecommunications services in Mumbai and launched commercial services as Hutchison Max in November 1995. In Delhi, Uttar Pradesh (East), Rajasthan and Haryana, Essar Group was the major partner. But later Hutch took the majority stake. By the time of Hutchison Telecoms Initial Public Offering in 2004, Hutchison Whampoa had acquired interests in six mobile telecommunications operators providing service in 13 of Indias 23 licence areas and following the completion of the acquisition of BPL Mobile that number increased to 16. In 2006, it announced the acquisition of a company (Essar Spacetel — A subsidiary of Essar Group) that held licence applications for the seven remaining licence areas. Initially, the company grew its business in the largest wireless markets in India — in cities like Mumbai, Delhi and Kolkata. In these densely populated urban areas it was able to establish a robust network, well-known brand and large distribution network – all vital to long-term success in India. Then it also targeted business users and high-end post-paid customers which helped Hutchison Essar to consistently generate a higher Average Revenue Per User (ARPU) than its competitors. By adopting this focused growth plan, it was able to establish leading positions in Indias largest markets providing the resources to expand its footprint nationwide. In February 2007, Hutchison Telecom announced that it had entered into a binding agreement with a subsidiary of Vodafone Group Plc to sell its 67% direct and indirect equity and loan interests in Hutchison Essar Limited for a total cash consideration (before costs, expenses and interests) of approximately $11. 1 billion. Timeline 992: Hutchison Whampoa and MAX group establish Hutchison Max 2000: Acquisition of Delhi operations and entry into Calcutta (now Kolkata) and Gujarat markets through Essar acquisition 2001: Won auction for licences to operate GSM services in Karnataka, Andhra Pradesh and Chennai 2003: Acquired AirCel Digilink (ADIL — ESSAR Subsidiary) which operated in Rajasthan, Uttar Pradesh East and Haryana telecom circles and rebranded it Hutch. 2004: Launched in three additional telecom circles of India namely Punjab, Uttar Pradesh (West) and West Bengal. 2005: Acquired BPL Mobile operations in 3 circles. This left BPL with operations only in Mumbai, where it still operates under the brand Loop Mobile. 2007: Vodafone acquires a 67% stake in Hutchison Essar for $10. 7 billion. The company is renamed Vodafone Essar. Hutch is rebranded to Vodafone. 2008: Vodafone acquires the licences in remaining 7 circles and has starts its pending operations in Madhya Pradesh circle, as well as in Orissa, Assam, North East and Bihar. 2011: Vodafone Group buys out its partner Essar from its Indian mobile phone business. It paid $5. 46 billion to take Essar out of its 33% stake in the Indian subsidiary. It left Vodafone owning 74% of the Indian business. Vodafone Group Plc It is a British multinational telecommunications company. Vodafones main office is located in London, but the registered office is still in Newbury, Berkshire. It is the worlds second-largest mobile telecommunications company measured by both subscribers and 2011 revenues (in each case behind China Mobile), and had 439 million subscribers as of December 2011. Vodafone owns and operates networks in over 30 countries and has partner networks in over 40 additional countries. Its Vodafone Global Enterprise division provides telecommunications and IT services to corporate clients in over 65 countries. Vodafone also owns 45% of Verizon Wireless, the largest mobile telecommunications company in the United States measured by subscribers. Vodafone has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It had a market capitalisation of approximately ? 89. 1 billion as of 6 July 2012, the third-largest of any company listed on the London Stock Exchange. It has a secondary listing on NASDAQ. Vodafone acquires Essars Stake On March 31, 2011, Vodafone Group Plc announced that it would buy an additional 33% stake in its Indian joint venture for $5 billion after partner Essar Group exercised an option to sell the holding in the mobile-phone operator. The deal will raise Vodafone’s stake to 75%. Essar will exit the company after it implemented a put option over 22% of the venture. Vodafone exercised its call option to buy an 11% stake. In 2007, Vodafone granted options to Essar that would enable the conglomerate to sell its entire stake for $5bn, or to dispose of part of the 33 per cent shareholding at an independently appraised fair market value. In January 2011, Vodafone objected to Essar’s plans to place part of its 33% stake in India Securities, a small public company. Vodafone feared the move would give an inflated market value to Vodafone Essar. It had approached the market regulator SEBI and also filed a petition in the Madras High Court. The final shareholding pattern post this deal was not provided by the company as it was not clear whether Vodafones stake would exceed the 74 per cent FDI limit. Indian laws dont allow foreign companies to own more than 74% in a local mobile-phone operator. Vodafone has assured it will comply with local rules. Vodafone will have to sell that 1% to some Indian entity, or they’ll have to consider an initial public offering. Vodafone also said that final settlement is anticipated to be completed by November 2011. The completion of the deal would be subject to meeting certain conditions which include Reserve Bank of Indias permission as well as valuation of the deal.

How to Run PHP on an HTML File

How to Run PHP on an HTML File PHP  is a server-side programming language that is used in conjunction with  HTML  to enhance the features of a website. It can be used to add a log-in screen or a survey,  redirect visitors, create a calendar, send and receive cookies, and more. If your website is already published on the web, youll need to alter it a bit to use the PHP code with the page. When a webpage is accessed, the server checks the extension to know how to handle the page. Generally speaking, if it sees a .htm or .html file, it sends it right to the browser because it doesnt have anything to process on the server. If it sees a .php extension, it knows that it needs to execute the appropriate code before passing it along to the browser. Process You find the perfect script, and you want to run it on your website, but you need to include PHP on your page for it to work. You could just rename your pages to yourpage.php instead of yourpage.html, but you may already have incoming links or search engine ranking, so you dont want to change the file name. What can you do? If you are creating a new file anyway, you may as well use .php, but the way to execute PHP on a .html page is to modify the .htaccess file. This file may be hidden, so depending upon your FTP program, you may have to modify some settings to see it. Then you just need to add this line for .html: AddType application/x-httpd-php .html or for .htm: AddType application/x-httpd-php .htm If you only plan on including the PHP on one page, it is better to set it up this way: Files yourpage.html AddType application/x-httpd-php .html /Files This code  makes the PHP executable only on the yourpage.html file  and not on all of your HTML pages. Pitfalls If you have an existing .htaccess file, add the supplied code to it, do not overwrite it or other settings may stop working. Always be cautious when working on your .htaccess file and ask your host if you need help.Anything in your .html files that starts with ? will now be executed as PHP, so if its in your file for some other reason (as an XML tag, for example), you need to echo these lines to prevent errors. For example, use: ?php echo ?xml version1.0 encodingIUTF-8?; ?

Organizational Theory Essay Example | Topics and Well Written Essays - 500 words

Organizational Theory - Essay Example Leaders should only choose conflicts that are fruitful endeavors for the company in that it one, focus on the future; secondly it is material, and lastly, it has a noble purpose (Joni and Beyer, 2009, p. 50-52). The researchers also were able to come up with their own assessment tool. Since this is a qualitative research, they exhaustively defined the use of their terms. For instance, to ‘pursue a noble purpose’ means to â€Å"make your fight about improving the lives of the customers† (Joni and Beyer, 2009, p. 51), and relates to the principles of corporate values, respect, and urgency. Focusing on the future is quite self-explanatory but they still define it as the ability of an organization to forget about the past power struggles and to move on and focus on what is ahead. It answers the principles of possibility, uncertainty, and charisma. Making it material answers the principles of value, complexity, and change (Joni and Beyer, 2009, p. 52- 53). It is define d as â€Å"something that creates lasting value, leads to a noticeable and sustainable improvement, and addresses a complex challenge that has no easy answers† (Joni and Beyer, 2009, p. 50). Description of Procedures Because of the qualitative nature of the study, Joni and Beyer (2009) made use of primary sources from various companies—press releases, profiles, and case studies; and secondary sources—articles from newspaper and business journals. These are then used throughout the study as examples and basis for their arguments.

Sources for Early Islam Essay Example | Topics and Well Written Essays - 500 words

Sources for Early Islam - Essay Example various historical books like the God’s Caliph have history about Islam community as well as their Islamic faith, the state of our Allah in the society and our roles as individuals in the Islam faith. The Holly book of Quran has all the obligations of each Muslim in their society. The holy book of Quran has full account of the life history of Mohamed and his role in shaping the faith of Muslims. Furthermore, parents also do much in teaching their children about the Islamic faith. Moreover, we can use the scriptures, the hadiths and the biographies as historical sources of information in various ways. For instance by constant reading of the scripture, we can get the historical information about the important people in the Muslim community and their roles in our society that they played. For instance by reading the scriptures about Mohamed we can typically deduce the various roles he played in shaping the faith of Muslims. In that instance we use the scripture to show us whatever Mohamed and other prophets did in the times before we were born. Similarly, the hadiths are also a collection of all the reports about the actions, words and teachings of the prophet Mohamed. That can be used as a source of history on the things and deeds about the great prophet. These are history about the whereabouts and deeds of the prophet after his death in the Islamic society. Most of our clerics and jurist vindicate the hadiths. However, varied scholars classify these hadiths very dissimilarly. These hadiths help people in proper understanding of the Quran in great depth. Therefore we use the hadiths as historical source in determining what the Prophet Mohamed did in the historical past. Biographies are also significant part of the Muslim history. These are accounts of prominent individuals in the history of the Islam faith,. They account the life events of these people in the society. Through reading of these biographies we come to understand how history unveils by re visiting

Character Analysis of Thomas Gradrind in the Hard Times Essay Example for Free

Character Analysis of Thomas Gradrind in the Hard Times Essay Thomas Gradrind is the first character presented in the book Hard Times by Charles Dickens. He is one of the central figures through whom the author weaves a web of intricately connected characters and plotlines. The main central features of his character are his monotone attitude and appearance that is mechanized. Mr. Gradrind’s opening speech to a group of young students during the opening scene embodies his dryness and the hard fact that he impounds in his student’s heads.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Gradrind is best described physically as an obstinate carriage, square coat, square legs, square shoulders by the narrator, which is suggestive of Gradrind’s unrelenting rigidity (Dickens, 2001, p.47). During the first few chapters, Gradrind expounds his philosophy of calculating his rational self interest. He believes that human nature can be governed by complete rational rules. He is also ready to weigh and measure any parcel of human nature and be able to tell what it comes to. He lives by a joyless, pure memorization approach to education and life.   In the novel, his dull approach regarding education is shown: Now, what I want is, Facts. Teach these boys and girls nothing but Facts. Facts alone   Ã‚  Ã‚  Ã‚   are wanted in life. Plant nothing else, and root out everything else. You can only form the minds of reasoning animals upon Facts: nothing else will ever be of any service to   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   them. This is the principle on which I bring up my own children, and this is the    principle on which I bring up these children.   Stick to Facts, sir! (Dickens, 2001 p.47) By this philosophy, he was able to triumph financially and socially. Even his way of living as a hardware merchant is an implication of his fixation on hard material reality. He also became a member of the Parliament and this position allowed him to indulge his interest tabulating data about people from England. Though he is not a factory owner, he evinces the spirit of Industrial Revolution as he treats people like a machine that can be reduced to a number of principles of science.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Although it seems that the narrator’s description of Gradrind seems depressing, the latter also undergoes significant change in the novel which later catches the narrator’s sympathy. This is when Louisa confessed to Gadrind that something really important is missing in her life and that she is unhappy about marrying Bounderby. This makes Gradrind realize that the education system that he has is not perfect. This is also proven when he learned that Tom, his son, robbed the bank of Bounderby. After Gradrind realizes his failures, he admits to himself that he is really sorry for relying too much on facts. The dilemmas of his children made him feel and learn love, compassion and sorrow. He later becomes a humble man and making his facts and figures in greater connection with the virtues of faith, hope and charity.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Throughout the book, Thomas Gradrind was a man who clings to facts and statistical objects as the only truth. He believes that these are the important things that should be dealt with in order to achieve a healthy productive life. This makes him somewhat closed-minded since he solely sticks to his own vision of truth about life. He can be quoted as a perfectionist who strives to make his children perfect and raised them with perfection. Ironically, his children cannot absorb all that he was feeding.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Thomas Gradrind lives in a reality where he always depends on meanings and calculations. This trait of his was shown in his dialogues such as this: Herein lay the spring of the mechanical art and mystery of educating the reason without stooping to the cultivation of the sentiments and affections. Never wonder.   By means of addition, subtraction, multiplication, and division, settle everything somehow and never wonder† (Dickens, 2001 p.89) This implies that he has a scientific and mathematical approach to life.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   After being a prominent citizen of Coketown he later becomes one of the Parliament members. This gives him a chance to implement a one-sided practical philosophy on local schools. He is often viewed as rationalist, self-centered and cold. In raising and teaching children like Louisa, Tom, Jane, Adam, and Malthus, he sees to it that they are equally practical. They are also always forbidden to nurture emotions and fill their minds with imaginations. He also views love and forbearance as a means of regulating facts and figures. Not until Louisa runs to him in full distress of the impending misfortune when she marries Bounderby that he realizes the limitations of his philosophical notions about hard facts. Despite his stubbornness and fixation on logic, Gradrind is a great father to his children. He raised his kids well because he always wanted the best for them. He does things which he thinks will benefit their individuality. Thus, after hearing Louisa’s troubles, he makes it a point to change himself and support her in her agony. For his children, he learned to repent for his wrongdoing and became ready to change his ways that caused his children’s unhappiness.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The main conviction of Gradrind in the story is his utilitarian point of view regarding facts and figures. Being a man of facts and figures, utilitarianism is manifested in his view of every individual. Rather than see people as a unique person, he develops a general view of people, which focuses on their productivity and usefulness in the society as a whole. He feels that everything in life can be measured through universal calculation and tabulations. Everything can be computed, from interior designing to marriage.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Further analysis of Gradrind’s character suggests that he also mirrors the way people think during the era of industrialization. Charles Dickens wanted to explain to his readers the ideals and disadvantages of industrialization. Thomas Gradrind is an embodiment of how an individual embraces the beliefs and practices of industrialization. The way factory owners think during the time of industrialization is shown in the character of Gradrind. They are only after the monetary gain rather than the individual worth of the workers.   Dickens created an enduring tale that reflects the issues of an era filled with historical transformation.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The philosophy of utilitarianism and its connection to industrialization is given enough meaning through Thomas Gradrinds character. After practicing the fact philosophy, his daughter Louisa made him realize that something is more important than the lessons of facts and figures. Before the novel ends, she ends up confessing to her father that â€Å"there seems to be nothing here but languid and monotonous smoke† (Dickens, 2001, p.78). She complains how mechanized the way her father raised her that brought her such misery.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It is in the near end of the novel that Gradrind realizes and sees his errors. He feels sorry for the way his children suffered his ideological principle. For the first time he did not dwell on facts and figures and humbly felt sorry for what he did, Dickens used Gradrind to tell readers how to understand that there is more to life than facts and figures. He wanted to use Gradrinds character to show that everyone can change even the industrialized society during that time. Thomas Gradrind can be viewed by readers as character of change. He changed his philosophical ideals in place of something more important—his family’s happiness. Each individual has his or her own set of principles. Although it is worth sharing with others, it should not be shared to the extent of imposing it to others to follow. It should also not be used to manipulate other people. Gradrind can be an eye opener for many people who live under the influence of abusive power and authority. Louisas case made a turning point on her fathers life and paved the way for a better life for his children. Work Cited Dickens, Charles. Hard Times. Norton Critical Edition 3rd Ed. 2001.

Affirmative Action is Reverse Discrimination Essay -- Argumentative Pe

Affirmative Action is Reverse Discrimination    When the Civil Rights Bill was being debated on the floor of the Senate, Barry Goldwater predicted that this particular bill might be abused. Herbert Humphrey, however, stated that he would eat every page of the bill if ever it were used to justify discrimination against anybody on account of race or sex. The bill eventually passed and became the Civil Rights Act. From college admissions to government contracts, the Civil Rights Act has been grossly abused by giving race and gender primary consideration in admissions and hiring, resulting in blatant reverse discrimination. Paul Craig Roberts and Larry Stratton, co-author of The New Color Line: How Quotas and Privileges Destroy Democracy, document the silent change of the 1964 Civil Rights Act from a statute forbidding preferences based on race and gender into a weapon to coerce employers to adopt and implement quotas. This change is not so silent today. Roberts and Stratton show that, "quotas are based on an intentional misreading of Title VII and are strictly illegal under the 1964 Civil Rights Act." An explicit example of this intentional misreading, or abuse, of the Civil Rights Act is when a person is fired to fulfill a quota. On August 8, the Federal Third Circuit Court of Appeals agreed. The court ruled that the Piscataway, N.J. Board of Education violated the Civil Rights Act when it fired Sharon Taxman, an "overrepresented" Jewish female school teacher, to make room for a black woman under the school system's affirmative action plan. The school district was ordered by the court to pay $144,000 in back pay. The judges' decision was based on their own investigation into the legislative history of Title VII ... ...they are black? There is no question that racism did exist in our society and still does today, but the solution is not reversing the discrimination. It is hard to imagine that segregation of our schools was still legal in California as late as 1974, it is even harder to imagine that university admissions are still based on race in 1996. The solution to preferences in hiring and college admissions should be stricter penalties to those who discriminate based on race or gender. Also, it is a little late in the game to squeeze unqualified students into graduate school. We should be working with these students in grade school. Our universities and our government will unlikely look at any logical solutions because of their reputation of putting bandaids on social problems. There is no doubt, if Herbert Humphrey were here today, he would be eating a lot of paper.

Essentials of a Valid Contract Essay

To be enforceable by law an agreement must possess the essential elements of a valid contract as laid down by Sec. 10 of Contract Act in the following terms; ‘All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void. ’ Following are the conditions for validity of the contract in detail. 1. Offer and Acceptance: There must be an agreement based on a lawful offer made by one party and a lawful acceptance of that offer from the other party. The adjective lawful implies that the offer and acceptance must satisfy the requirements of the Contract Act in relation thereto. 2. Legal Relationship: The parties must have intended their agreement to have legal consequences and legal obligations. Agreements of a social or domestic nature do not contemplate legal relations, and as such they do not give rise to a contract. 3. Lawful Consideration: Consideration means something in return (quid pro quo). For a valid contract both parties must have provided consideration, i. e. each side must promise to give or do something for other. However, it must be legal, real, harmless and not immoral. 4. Competent Parties: The parties to an agreement must be competent to contract. The contracting parties must be of the age of majority and of sound mind and must not be disqualified by any law to which they are subject. (Section 11) 5. Free Consent: Free consent of all parties is another essential element. Consent means that the parties must have agreed upon same things in the same sense. Consent is said to be free if it is not obtained by coercion, undue influence, fraud, misrepresentation or mistake. (Section 14) 6. Lawful Object: Object means ‘the purpose of entering into a contract’. For the formation of a valid contract it is also necessary that the parties to an agreement must agree for a lawful object. According to Sec. 23 the object of an agreement is lawful, if it is Not forbidden by law; Not fraudulent; or Not involves or implies injury to the person or property of another Not regarded immoral by the Court Not opposed to public policy. Not immoral. 7. Not Expressly Declared Void: The agreement must not have been expressly declared to be void under the Act. Sec. 24-30 and Sec56 specifies certain types of expressly declared void agreements: Agreement in restrain of marriage, trade, or legal proceedings. (sec. 26,27,27) Agreement by way of wager. (sec. 30) Agreement to do impossible acts. (sec. 56) Agreement the meaning of which is not certain. (sec. 29) 8. Writing and Registration: The prescribed legal formalities of writing, registration, etc. necessary for the agreement to be enforceable by law must have been observed. It must be in writing, properly attested by witnesses and registered if so required by law. The absence of any of the essentials explained above will not result in a valid contract but a void contract.