Podcast
Questions and Answers
What does the Indian Contract Act, 1872 regulate?
What does the Indian Contract Act, 1872 regulate?
Under which section does the Indian Contract Act define a contract?
Under which section does the Indian Contract Act define a contract?
Which part of the Indian Contract Act deals with Special kinds of Contracts such as Contract of Indemnity and Guarantee?
Which part of the Indian Contract Act deals with Special kinds of Contracts such as Contract of Indemnity and Guarantee?
What does the term 'Acceptance' refer to in the Indian Contract Act?
What does the term 'Acceptance' refer to in the Indian Contract Act?
Signup and view all the answers
What happens to a proposal when it is accepted according to the Indian Contract Act?
What happens to a proposal when it is accepted according to the Indian Contract Act?
Signup and view all the answers
Study Notes
Indian Contract Act, 1872
- Regulates contracts and agreements between parties in India
Definition of a Contract
- Defined under Section 2(h) of the Indian Contract Act
- A contract is an agreement enforceable by law
Special Kinds of Contracts
- Part IV of the Indian Contract Act deals with special kinds of contracts
- Includes contracts such as Contract of Indemnity and Guarantee
Acceptance
- Refers to the unconditional assent to the terms of a proposal
- Involves a sign of agreement or approval to the proposal
Effect of Acceptance
- When a proposal is accepted, it becomes a promise
- The contract comes into existence and is binding on the parties involved
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Test your knowledge of the Indian Contract Act, 1872 with this quiz. Explore key principles and legal provisions governing contracts in India. Sharpen your understanding of the Act's applicability and the legalities surrounding binding promises.
