What is 7 of Indian Contract Act?
If the proposal prescribes a manner in which it is to be accepted, and the acceptance is not made in such manner, the proposer may, within a reasonable time after the acceptance is communicated to him, insist that his proposal shall be accepted in the prescribed manner, and not otherwise; but, if he fails to do so, he .
What is Section 6 of the Contract Act?
In conclusion, Section 6 of the Indian Contract Act, 1872 lays down the modes of revocation of an offer, which are revocation by communication from the offeror to the offeree before acceptance, revocation by lapse of time, revocation by failure of a condition precedent, and revocation by death or insanity of the .
What is the law of contract 2?
1.
2(.
- All damages- which he was compelled to pay in any suit in respect of matter to which promise of indemnity applies
. (.- All costs- if in bringing/defending such suit he did not contravene the orders of the promisor and he acted as it would have been prudent for him to act in absence of any indemnity
What is the summary of Indian Contract Act, 1872?
As per the Indian Contract Act,1872, a "contract" is an agreement enforceable by law.
The agreements are not enforceable by law are not contracts.
An "agreement" means 'a promise or a set of promises' forming consideration for each other.
And a promise arises when a proposal is accepted..
- According to the Indian Contract Act 1872, proposal is defined in Section 2 (a) as “when one person will signify to another person his willingness to do or not do something (abstain) with a view to obtain the assent of such person to such an act or abstinence, he is said to make a proposal or an offer.”
- Indian contract Act was drafted by sir James fitzames Stephen who headed the 3rd Indian law commission during the British regime and after the independence it continued by the virtue of art.
