According to Section 2(a) of the Indian Contract Act, 1872- When one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that other to such act or abstinence, he is said to make a proposal. A proposal or an offer involves two... Continue Reading →

First of all it is very important for us to understand the meaning of an agreement as given in the Indian law. According to Section 2(e) of the Indian Contract Act,1872- Every promise and every set of promises, forming the consideration for one another, is an agreement. Agreement= Promise (proposal+ acceptance) + Consideration ESSENTIALS OF... Continue Reading →

According to section 2(h) of the Indian Contract Act, 1872, an agreement enforceable by the law is referred as a contract. However, a more detailed definition of a valid contract is provided in section 10 of the Indian Contract Act, 1872. According to section 10 of the Indian Contract Act, 1872 all agreements are contracts... Continue Reading →

According to Section 10 of the Indian Contract Act, 1872- All agreements are contracts if they are made by the free consent of the parties competent to contract, for a lawful consideration and with a lawful object and are not hereby expressly declared to be void. Contracts vary in terms of their terms, conditions, length,... Continue Reading →