Contract law creates and implements the agreements of a contract and will seek out a remedy if a violation does occur.
Some types of terms required to make a contract legal: An offer.
Acceptance.
Consideration..
According to Section 2 of the Indian Contract Act 1872, the offer is defined as “When one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that other to such act or abstinence, he said to make a proposal”..
According to Section 2 of the Indian Contract Act 1872, the offer is defined as “When one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that other to such act or abstinence, he said to make a proposal”..
The law of contract is the most important part of mercantile law in India.
It determines the circumstances in which the promise made by the parties to a contract shall be binding on them and provides for the remedies available against a person who fails to perform his promise..
