Development
The Act as enacted originally had 266 Sections, it had wide scope and included.
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- General Principles of Law of Contract::::::::: 1 to 75
- Contract relating to Sale of Goods::::::::::::76 to 129
- Special kinds of Contracts
- includes indemnity,
- guarantee, bailment & pledge:::::::::::::::::125 to 238
- Contracts relating to Partnership::::::::::::239 to 266
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Indian Contract Act embodied the simple and elementary rules relating to Sale of goods and partnership. The developments of modern business world found the provisions contained in the Indian Contract Act inadequate to deal with the new regulations or give effect to the new principles. Subsequently the provisions relating to the sale of goods and partnership contained in the Indian Contract Act were repealed respectively in the year 1930 and 1932 and new enactments namely Sale of Goods and Movables Act 1930 and Indian Partnership act 1932 were re-enacted.
At present the Indian Contract Act includes:
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- General Principles of Law of Contract:::::: 1 to 75
- Special kinds of Contracts
- (includes indemnity, guarantee,
- bailment & pledge::::::::::::::::::::::::::125 to 238
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Read more about this topic: Indian Contract Act 1872
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