10 Questions
What is the most important branch of mercantile or commercial law?
The Law of Contract
What does the Indian Contract Act, 1872 define and amend?
Certain parts of the law relating to contracts
When did the Indian Contract Act come into force?
September 01, 1872
What does the preamble to the Indian Contract Act, 1872 state the Act is meant to do?
To define and amend certain parts of the law relating to contracts
What is the foundation of the civilized world according to the text?
The contract
What is the main focus of the Indian Contract Act, 1872?
Defining and amending certain parts of the law relating to contracts
What is the foundation of the civilized world according to the text?
The contract
When did the Indian Contract Act, 1872 come into force?
September 01, 1872
What is the most important branch of mercantile or commercial law according to the text?
The Law of Contract
What does the preamble to the Indian Contract Act, 1872 state the Act is meant to do?
Define and amend certain parts of the law relating to contracts
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.
Test your knowledge of the Indian Contract Act, 1872 with this quiz on the nature of contracts. Explore the meaning of agreements and contracts, essential elements, different types of contracts, and the concept of offer and acceptance. Sharpen your understanding of the legal framework governing contracts in India.
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