The indian contract act

Try out our Premium Member services: Free for one month and pay only if you like it. Communication, acceptance and revocation of proposals. The communication of a revocation is complete,— as against the person who makes it, when it is put into a course of transmission to the person to whom it is made, so as to be out of the power of the person who makes it; as against the person to whom it is made, when it comes to his knowledge.

The indian contract act

This act may be called the Indian Contract Act, Extent, commencement In extends to the whole of India except the State of Jammu and Kashmir ; and it shall first day of September; Savings Nothing herein contained shall affect the provisions of any Statute, Act or Regulation pealed, nor any usage or custom of trade, nor any incident of any contract, not inconsistent with the provisions of this Act.

CLAUSE 2 Interpretation In this act the following words and expressions are used in the following senses, unless pears from the context: When one person signifies to another his willingness to do or to abstain from doing to obtaining the assent of that other to The indian contract act act The indian contract act abstinence, he is said to make a proposal.

When the person to whom the proposal is made signifies his assent thereto, the accepted.

The Indian Contract Act

A proposal, when accepted, becomes a promise. When, at the desire of the promisor, the promisees or any other person has done or abstained from doing, or does or abstains from doing, or promises to do or to abstain from doing, something, such act or abstinence or promise is called a consideration for the promise; v.

Every promise and every set of promises, forming the consideration for each other, is an agreement. Promises which form the consideration or part of the consideration for each other are called reciprocal promises; vii.

An agreement not enforceable by law is said to be void; viii. An agreement enforceable by law is a contract; ix. An agreement which is enforceable by law at the option of one or more of the parties thereto, but not at the option of the other or others, is a voidable contract.

CLAUSE 3 Communication Acceptance and Revocation of Proposals The communication of proposals, the acceptance of proposals, and the revocation of, proposals and acceptances, respectively, are deemed to be made by any act or omission of the party proposing; accepting or revoking, by which he intends to communicate such proposal acceptance or revocation, or which has the effect of communicating it.

The communication of an acceptance is complete a. Also the communication of a revocation is complete.

The indian contract act

A proposal maybe revoked at any time before the communication of its acceptance is complete as against the proposer, but not afterwards. An acceptance may be revoked at any time before the communication of the acceptance is complete as against the acceptor, but not afterwards.

Be expressed in some usual and reasonable manner unless the proposal prescribes the manner in which it is to be accepted. 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 accepts the acceptance.

CLAUSE 9 Promises, express and implied In so far as the proposal or acceptance of any promise is made in words the promise is said to be express. In so far as such proposal or acceptance is made otherwise than in words thepromise is said to be implied. Nothing herein contained shall affect any law in force in India and not hereby expressly repealed by which any contract is required to be made in writing or in the presence of witnesses, or any law relating to the registration of documents.

CLAUSE 11 Who are competent to contract Every person is competent to contract who is of the age of majority according to the law to which he is subject and who is of sound mind and is not disqualified from contracting by any law to which he is subject.

Shot title.

A Person, who is usually of unsound mind, but occasionally of sound mind, may make a contract when he is of sound mind.

A person, who is usually of sound mind, but occasionally of unsound mind, may not make a contract when he is of unsound mind. Coercion, as defined in section 15, or b.

Undue influence, as defined in section 16, or c. Fraud, as defined in section 17, or. Misrepresentation, as defined in section 18, or e. Mistake, subject to the provisions of sections 20, 21 and Consent is said to be so caused when it would not have been given but for the existence of such coercion, undue influence, fraud, misrepresentation or mistake.

In particular and without prejudice to the generally of the foregoing Principle, on his deemed a position to dominate the will of another a. Where he holds a real or apparent authority over the other or where, he fiduciary relation to the other; or b.

Where he makes a contract with a person whose mental capacity is temporarily or permanently affected by reason of age, illness, or mental or bodily distress. Where a person who is in a Position to dominate the will of another, enters into a contract with him, and the transaction appears, on the face of it or, on the evidence adduced, to be unconscionable, the burden of proving that such contract was not induced by undue influence shall be upon the person in a position to dominate the will of the other.

The positive assertion, in a manner not warranted by the Information of the person making it, of that which is not true, though he believes it to be true; b.

Any breach of duty which, without an intent to deceive, gains an advantage to the person committing it, or anyone claiming under him; by misleading another to his prejudice, or to the prejudice of anyone claiming under him; c.

Causing, however innocently, a party to an agreement, to make a mistake as to the substance of the thing, which is the subject of the agreement.

Civil At Work: THE INDIAN CONTRACT ACT,

If such consent was caused by misrepresentation or by silence, fraudulent with in the meaning of section 17, the contract, nevertheless, is not voidable, If the party whose consent was so caused had the means of discovering the truth with ordinary diligence.This Act may be called the Indian Contract Act, Extent, Commencement.

-It extends to the whole of India 1 [except the State of Jammu and Kashmir]; and it shall come into force on the first day of September Bare Act of The Indian Contract Act Provided free of charge by Delhi Law Academy for student benefit.

Contract Act is one of the most important and long-lasting pieces of. The Indian Contract Act, prescribes the law relating to contracts in India. The Act was passed by British India and is based on the principles of English Common Law.

It is applicable to all the states of India except the state of Jammu and Kashmir. It determines the circumstances in which promises made by the parties to a contract shall be legally .

The Indian Contract Act, The above important elements may be further analysed as under: 1. Offer and Acceptance: In the first place, there must be an offer and the said offer must have been accepted.

Such offer and . Main Article: Offer - Indian Contract Act, Section 2(a) of the Indian Contract Act, defines the term "Proposal" as when one person signifies to another his willingness to do or to abstain from doing something with a view to obtaining the assent of the other to such an act or abstinence, he is said to make a proposal.

Jan 27,  · The Indian Contracts Act , creates rights and duties between the contracting parties.

The indian contract act

The parties are free to set the terms of contract. However, such rights and duties created must not be unlawful and must not infringe the legal principles.

Indian Contract Act, Top 10 Landmark Judgements of Law of Contracts