The Indian Contract Act, 1872 - [Unit - 1]. Flashcards
(8 cards)
1
Q
What is a Contract?
A
[Section 2(h)] - An agreement is enforceable by law.
2
Q
What is an agreement?
A
[Section 2(e)] - Every promise and every set of promises forming consideration for each other.
3
Q
What is a Promise?
A
[Section 2(b)] - When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted. A proposal, when accepted, becomes a promise.
4
Q
Essentials of a valid contract.
A
Section 10
5
Q
Lawful consideration and object.
A
Section 23
6
Q
Types of Contract
A
All the types.
7
Q
An invitation to an offer.
A
Explain this.
8
Q
Revocation of offer and acceptance.
A
Section - 4
Section - 5
