Title indian-contract-act.ppt ✅

INDIAN CONTRACT ACT-1872
HISTORY OF INDIAN CONTRACT ACT - 1872 Enforced w.e.f. September 1, 1872. Applicable to whole of INDIA except J&K
A CONTRACT is an agreement creating and defining obligations between the parties
COMPONENTS OF CONTRACT An Agreement It involves proposal or offer by one party and acceptance of the same by the other party. AGREEMENT = OFFER + ACCEPTANCE Enforceable at law An agreement to become a contract must give rise to legal obligations. It must create legal relations and not merely social or domestic relations. CONTRACT = AGREEMENT+ENFORCEABILITY AT LAW