Definition
Section 2(h) of the Act defines the term contract as "any agreement enforceable by law". There are two essentials of this act, agreement and enforceability.
Section 2(e) defines agreement as "every promise and every set of promises, forming the consideration for each other."
Again Section 2(b) defines promise in these words: "when the person to whom the proposal is made signifies his assent there to, the proposal is said to be accepted. Proposal when accepted, becomes a promise."
And other words Say Agreement is Sum of
all contract are agreement, but all agreement are not contract..
CONTRACT=AGREEMENT+ENFORCEABLE BY LAW( LAW)
Read more about this topic: Indian Contract Act 1872
Famous quotes containing the word definition:
“The physicians say, they are not materialists; but they are:MSpirit is matter reduced to an extreme thinness: O so thin!—But the definition of spiritual should be, that which is its own evidence. What notions do they attach to love! what to religion! One would not willingly pronounce these words in their hearing, and give them the occasion to profane them.”
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“It’s a rare parent who can see his or her child clearly and objectively. At a school board meeting I attended . . . the only definition of a gifted child on which everyone in the audience could agree was “mine.””
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