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    Contract Is Defined as an Agreement Enforceable by Law Vide Section … of the Indian Contract Act

    / 4 de julio de 2023

    A contract is an agreement between two or more parties that is legally enforceable. In India, the Indian Contract Act defines a contract as “an agreement enforceable by law”. This means that a contract is an agreement that can be upheld in court if one party fails to fulfill their obligations under its terms.

    The Indian Contract Act was passed in 1872 and has been amended several times since then. It provides the legal framework for all contracts in India and sets out the rules for their formation, interpretation, and enforceability.

    Section 2(h) of the Indian Contract Act defines a contract as “an agreement enforceable by law”. This means that for a contract to be valid, it must meet certain requirements. First, there must be an offer made by one party to another. This offer must be clear and specific, and it must be made with the intent to create a legal obligation.

    Next, the other party must accept the offer. Acceptance must be clear and unequivocal, and it must be communicated to the offeror. Once acceptance has been communicated, a contract is formed.

    To be enforceable, a contract must also meet certain other requirements. For example, it must be made between parties who are legally capable of entering into a contract. This means that minors, people with certain mental illnesses, and people under the influence of drugs or alcohol may not be able to enter into a legally binding contract.

    In addition, the terms of the contract must be clear and unambiguous. This means that both parties must understand the obligations they are agreeing to undertake. If the terms of the contract are unclear or ambiguous, it may be difficult to enforce in court.

    Finally, a contract must have a lawful object. This means that the purpose of the contract must not be illegal or against public policy. For example, a contract to commit a crime would not be enforceable.

    In conclusion, a contract is an agreement between two or more parties that is legally enforceable. The Indian Contract Act defines a contract as “an agreement enforceable by law”. To be enforceable, a contract must meet certain requirements, including clear offer and acceptance, capacity to contract, clear and unambiguous terms, and a lawful object.

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