Contract Law
The main contract law in India is codified in the Indian Contract Act, which came into effect on September 1, 1872 and extends to all India except the state of Jammu and Kashmir. It governs entrance into contract, and effects of breach of contract. Indian Contract law is popularly known as mercantile law of India. Originally Indian Sales of Goods Act and Partnership Act were part of Indian Contract act, but due to needed amendment these acts were separated from Contract Act. Contract act is the main and most used act of legal agreements in India. The Indian constitution should be changed from British effect.
Read more about this topic: Indian Law
Famous quotes containing the words contract and/or law:
“A good businessman never makes a contract unless he’s sure he can carry it through, yet every fool on earth is perfectly willing to sign a marriage contract without considering whether he can live up to it or not.”
—Dalton Trumbo (1905–1976)
“The law is only one of several imperfect and more or less external ways of defending what is better in life against what is worse. By itself, the law can never create anything better.... Establishing respect for the law does not automatically ensure a better life for that, after all, is a job for people and not for laws and institutions.”
—Václav Havel (b. 1936)