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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.
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
Download as PDF; Printable version; ... Pages in category "1872 in India" ... Indian Contract Act, 1872; L. Lushai Expedition
Partition Act, 1893; Presidency-Towns Insolvency Act, 1909; Provincial Insolvency Act, 1920; Recovery of Debts Due to Banks and Financial Institutions Act, 1993; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest fact, 2002; Contract Act, 1872; Sale of Goods Act, 1930; Negotiable Instruments Act, 1881 ...
Meanwhile, the Indian Contract Act, 1872 which continues in force in Pakistan, Bangladesh, and India (the most populous common law jurisdiction) provides that valid consideration exists "when at the desire of the promisor, the promisee or any other person has done or abstained from doing, or does or abstains from doing, or promises to do or ...
The rules were exported across the British Empire, as for example in the Indian Contract Act 1872. [39] Further requirements of fairness in exchanges between unequal parties, or general obligations of good faith and disclosure were unwarranted because was said that liabilities "are not to be forced upon people behind their backs". [40]
A contract is a legally binding agreement made between parties involved in a transaction for the exchange of goods or services. The agreement often comes in the form of a written instrument that provides the terms or conditions of the arrangement, each of which correspond to an obligation that one of the parties entering the agreement is obliged to fulfill.
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.