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The Indian Contract Act, 1872 defines the term “Contract” under its section 2 (h) as “An agreement enforceable by law”. In other words, we can say that a contract is anything that is an agreement and enforceable by the law of the land.
1. Short title.—This Act may be called the Indian Contract Act, 1872. Extent, Commencement.—It extends to the whole of India 2[ 3***]; and it shall come into force on the first day of September, 1872.
The Indian Contract Act, 1872 [1] prescribes the law relating to contracts in India and is the key act regulating Indian contract law. The Act is based on the principles of English Common Law. It is applicable to all the states of India.
Mar 24, 2023 · The Indian Contract Act is a law enacted by the Indian Parliament in 1872 that governs the law of contracts in India. The Act lays down the legal rules and regulations that govern the formation and enforcement of contracts in India.
The Indian Contract Act, 1872 codifies the legal principles that govern such ‘contracts’. The Act basically identifies the ingredients of a legally enforceable valid contract in addition to
3 days ago · The Indian Contract Act, 1872 provides the guidelines for forming a valid Contract. It plays an important role wherever there is an agreement or a Contract. The Contract Act defines the term ‘Contract’ under its section 2 (h) as ‘An agreement enforceable by law’.
The Indian Contract Act, 1872, defines and outlines the rules and principles that govern contracts. It addresses various elements of a valid contract, such as offer and acceptance, consideration, free consent, lawful object, and the capacity of parties to contract.
The Indian Contract Act is one of the oldest mercantile laws of our country. It came into effect on the 1st of Sept 1872 and is applicable to the whole of India with the exception of J&K. Containing 266 sections it is the principal law regulating contracts in India.
Section 1. Short title. Section 2. Interpretation-clause. Section 3. Communication, acceptance and revocation of proposals. Section 4. Communication when complete. Section 5. Revocation of proposals and acceptances. Section 6. Revocation how made. Section 7. Acceptance must be absolute. Section 8.
Section 2 (h) of the Indian Contract Act, 1872 [2] defines a contract as "An agreement enforceable by law". The word 'agreement' has been defined in Section 2 (e) of the Act as ‘every promise and every set of promises, forming consideration for each other’. Law of Contract and Contribution of Lord Denning:
