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| Home > Business Law > Indian Contract Act 1872 |
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| Introduction |
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The Indian Contract Act extends to the whole of India and it came into force on the first day of September 1872.
WHAT IS A CONTRACT?
An agreement enforceable by law is a contract.
Thus for the formation of a contract there must be
- an agreement
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the agreement should be enforceable by law
An agreement is defined as every promise and every set of promises forming the consideration for each other and a promise is an accepted proposal. |
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