Search results
Results from the WOW.Com Content Network
The Indian Contract Act, 1872 [1] prescribes the law relating to contracts in India and is the key regulating Indian contract law. Then the principles of English Common Law. It is applicable to all the states of India. It determines the circumstances in which promises made by the parties to a contract shall be legally binding.
Section 11 of the Contract Act, 1872 provides that for a person to have contracting capacity, they had to be of the age of majority, of sound mind, and not otherwise disqualified from contracting by law. However, this does not provide whether a minor's contract is void or voidable at the minor's option. [1]
The main contract law in India is codified in the Indian Contract Act, which came into effect on 1 September 1872 and extends to all India. It governs entrance into contract, and effects of breach of contract. Indian Contract law is popularly known as mercantile law of India.
Punjab Laws Act 1872 4 Indian Contract Act 1872 9 Indian Christian Marriage Act 1872 15 Madras Civil Courts Act 1873 3 Government Savings Banks Act 1873 5 Northern India Canal and Drainage Act 1873 8 Married Women's Property Act 1874 3 Laws Local Extent Act 1874 15 Majority Act 1875 9 Chota Nagpur Encumbered Estates Act 1876 6
Pages in category "Indian business law" The following 15 pages are in this category, out of 15 total. ... Indian Contract Act, 1872; L. The Limited Liability ...
It extends to the whole of India except the State of Jammu and Kashmir; and it shall come into force on the first day of September, 1872. Indian Contract Act really codifies the way we enter into a contract, execute a contract, implement provisions of a contract and effects of breach of a contract —Preceding unsigned comment added by 123.231 ...
The Native Marriages Act of 1872 was the result of deep consideration on both Maine's and Stephen's part. The Indian Contract Act had been framed in England by a learned commission, and the draft was materially altered in Stephen's hands before, also in 1872, it became law.
For example, in the Indian Contract Act, 1872, past consideration constitutes valid consideration, and that consideration may be from any person even if not the promisee. [47] The Indian Contract Act also codifies examples of when consideration is invalid, for example when it involves marriage or the provision of a public office.