Chapter 1: Introduction to the Indian Contract Act, 1872

Spread the love      While the terms “agreement” and “contract” are often used interchangeably in daily conversation, in the eyes of the law, they have distinct meanings.1 As the legal maxim goes: “All contracts are agreements, but all agreements are not contracts.” 1. Definition of Agreement (Section 2(e)) The Indian Contract Act defines an agreement in Section … Read more

Spread the love      To understand the Indian Contract Act, one must first grasp its core concept: the Contract itself. In layman’s terms, a contract is a promise that the law will enforce. However, in the legal world, the definition is more specific. 1. What is a Contract? A contract is an agreement between two or more … Read more