( ACT NO. IX OF 1872 )1. Short titleExtent Commencement2. Interpretation-clause3. Communication, acceptance and revocation of proposals4.Bangladesh -logo17. "Fraud" defined2. Interpretation-clause1. Short title
Definition of Contract in regards to Law of Bangladesh
In order for a contract to have legal effect under the Contract Act 1872, the following factors must be present: The Promiser must make a proposal; The Promisee must approve the proposal.
The Contract Act, 1872 is the chief contract law in Bangladesh.
Based on English contract law and the British Indian contract law, it was enacted in the 19th century and re-enacted by the Parliament of Bangladesh after the country's independence.
It includes chapters on offer and acceptance, voidable contracts, contingent contracts, performance, breach of contract, contractual relations, the sale of goods, bailment, agency and partnership.
It also covers topics such as consideration, misrepresentation and indemnity.
Type of contract
A real estate contract is a contract between parties for the purchase and sale, exchange, or other conveyance of real estate.
The sale of land is governed by the laws and practices of the jurisdiction in which the land is located.
Real estate called leasehold estate is actually a rental of real property such as an apartment, and leases cover such rentals since they typically do not result in recordable deeds.
Freehold conveyances of real estate are covered by real estate contracts, including conveying fee simple title, life estates, remainder estates, and freehold easements.
Real estate contracts are typically bilateral contracts and should have the legal requirements specified by contract law in general and should also be in writing to be enforceable.
