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Questions and Answers
What is the most important branch of mercantile or commercial law?
What is the most important branch of mercantile or commercial law?
- The Law of Agency
- The Law of Torts
- The Law of Contract (correct)
- The Law of Property
What does the Indian Contract Act, 1872 define and amend?
What does the Indian Contract Act, 1872 define and amend?
- Certain parts of the law relating to contracts (correct)
- The law relating to property
- The law relating to criminal offenses
- The law relating to taxation
When did the Indian Contract Act come into force?
When did the Indian Contract Act come into force?
- September 01, 1872 (correct)
- December 25, 1864
- August 15, 1947
- January 26, 1950
What does the preamble to the Indian Contract Act, 1872 state the Act is meant to do?
What does the preamble to the Indian Contract Act, 1872 state the Act is meant to do?
What is the foundation of the civilized world according to the text?
What is the foundation of the civilized world according to the text?
What is the main focus of the Indian Contract Act, 1872?
What is the main focus of the Indian Contract Act, 1872?
What is the foundation of the civilized world according to the text?
What is the foundation of the civilized world according to the text?
When did the Indian Contract Act, 1872 come into force?
When did the Indian Contract Act, 1872 come into force?
What is the most important branch of mercantile or commercial law according to the text?
What is the most important branch of mercantile or commercial law according to the text?
What does the preamble to the Indian Contract Act, 1872 state the Act is meant to do?
What does the preamble to the Indian Contract Act, 1872 state the Act is meant to do?
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Study Notes
Indian Contract Act, 1872
- The most important branch of mercantile or commercial law is the Law of Contract.
- The Indian Contract Act, 1872 defines and amends the contract law in India.
- The Indian Contract Act came into force on September 1, 1872.
- The preamble to the Indian Contract Act states that the Act is meant to amend certain parts of the law relating to contracts.
- The foundation of the civilized world is the promise and the fulfillment of the promise.
- The main focus of the Indian Contract Act, 1872 is to enforce promises made by individuals in a legally binding manner.
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