Indian Contract Act 1872
The law relating to contracts in India is contained in Indian Contract Act, 1872. The Act was passed by British India and is based on the principles of English Common Law. It is applicable to the All States of India except the State of Jammu & Kashmir. It determines the circumstances in which promise made by the parties to a contract shall be legally binding on them. All of us enter into a number of contracts everyday knowingly or unknowingly. Each contract creates some right and duties upon the contracting parties. Indian contract deals with the enforcement of these rights and duties upon the parties in India.
Read more about Indian Contract Act 1872: History, Development, Definition, Essential Elements of A Valid Contract, Offer, Acceptance, Lawful Consideration, Competent To Contract, Free Consent, Performance of Contracts, Agency
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