The Indian Contract Act is one of the oldest mercantile laws of our country. It came into effect on the 1st of September 1872 and is applicable to the whole of India with the exception of Jammu & Kashmir. Containing a total of 266 sections it is the principal law regulating contracts in India. Let us see some important aspects related to it.
- What is a Contract?
- Essentials of a Contract
- Types of Contract – Based on Validity
- Types of Contract – Based on Formation
- Types of Contract – Based on Performance
- Proposal or Offer
- Acceptance
- Communication of Offer and Acceptance and Revocation of Offer
- Legal Rules Regarding Consideration
- The Doctrine of Privity of Contract
- Agreements without Consideration